April 2014

Cliq Digital AG releases preliminary figures for 2013 financial year

  • 03/04/2014

– Revenues of EUR 51 million and EBITDA of EUR 6.8 million

– Net income turned positive to EUR 2.0 million, before possible legacy issues

– Successful reorganization of financing in first Quarter 2014

Dusseldorf, April 3, 2014 – Cliq Digital AG, a leading provider of mobile games, apps, software and entertainment, announces its preliminary figures for the 2013 financial year. The EBITDA (earnings before interest, taxes, depreciation and amortization) as the main performance indicator is expected at EUR 6.8 million (2012: EUR 8.5 million). Full year revenues will amount to EUR 51 million (2012: EUR 66.2 million).

Marketing activities were reduced due to less organic growth. Furthermore revenues were hit by new regulations or disruption in some countries (UK, Singapore and Spain), and not being able to enter the US market due to new regulations. Additionally the divestment of the online browser games division caused a reduction in revenue of EUR 2.7 million. Low financial flexibility because of the repayment obligations of the term loan with ABN AMRO caused further delays in the organic as well as non-organic growth of the company and lead to reduced marketing activities.

In 2013 financial year net income turned positive to EUR 2.0 million (2012: net loss of EUR 3.6 million). These results were slightly below the adjusted guidance with re-forecasted revenues of EUR 53 million and a net income of EUR 2.3 million. This was mainly caused by the above mentioned limited funds for marketing.

Currently a general tax audit is conducted by the German tax auditors regarding the business years 2007 to 2011 (former Bob Mobile AG and its subsidiaries). A possible additional provision has to be made on a Greek fine out of 2011, related to a former subsidiary in Greece. Both outcomes are not yet foreseeable, but can still have a substantial extraordinary effect on the above mentioned net results for 2013. We foresee the organization can leave this legacy behind and concentrate on the future once these issues are finally cleared.

New financing agreement

During the first quarter of 2014 Cliq Digital reorganized its financing resulting in an agreement with Commerzbank replacing ABN AMRO Bank as new house bank. The term loan and the credit facility of ABN AMRO have been fully repaid by new financing of Commerzbank. In this context monthly redemption has been lowered from EUR 750,000 (ABN AMRO) to EUR 187,500 with Commerzbank.

All figures within this Corporate News regarding to 2013 financial year are unaudited.

About CLIQ Digital:

CLIQ Digital AG (ISIN DE000A0HHJR3), based in Dusseldorf, Germany, is a leading provider of mobile games, apps, software and entertainment content. CLIQ Digital markets content in over 50 countries, especially by way of its direct sales to end customers. The company was founded as Bob Mobile AG in 2005. A decisive growth step was taken in 2012 with the acquisition of Dutch company CLIQ B.V., which provided the name of the newly positioned Group. The company is listed in the Entry Standard of the Frankfurt Stock Exchange. Visit CLIQ on: www.cliqdigital.com

Contact:

cometis AG
Rolf Becker
Unter den Eichen 7
D-65195 Wiesbaden
Phone: +49 (0)611 20 58 55-40
Fax: +49 (0)611 20 58 55-66
E-mail: becker@cometis.de

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