Erold (FR0010211037 – ALPLA), an independent digital media group, announces that it has filed a declaration of cessation of payments with the Commercial Court on October 12, 2023 and requested the opening of a judicial recovery procedure.
The staff representative bodies were informed in advance.
The objective of this procedure is to evaluate all solutions allowing in the best conditions to perpetuate the activity, maintain employment and settle liabilities, as well as to initiate a process of searching for investors within the framework of a recovery plan by way of continuation or a transfer plan.
The Commercial Court will soon rule on this request to open a judicial recovery procedure. If the Commercial Court grants the Company’s request, the Company’s operations will continue during the observation period.
Erold will inform the market of the decision of the Commercial Court.
Given the uncertainty regarding the outcome of the judicial recovery procedure and the steps taken by the Company, the suspension of the trading of shares is maintained.
2023 half-year results
Erold communicates on a combined figures basis
1
of the social accounts of the three structures of the group, namely Erold, Planet Advertising and Planet Publishing. Erold’s half-year financial report is currently being finalized and will be available on October 30, 2023 on the Company’s website (https://www.erold.fr/investors).
|
In €m, combined data unaudited | S1 | S1 |
|
Turnover |
1.7 |
3.3 |
Other exploitation products | 0.2 | 0.2 |
Staff costs | (1.0) | (1.6) |
External charges | (1.1) | (1.3) |
|
Gross Operating Surplus As a % of turnover |
(0.2) |
0.6 |
Depreciation and amortization | (0.8) | (0.9) |
|
Operating profit |
(1.0) |
(0.3) |
bottom line | (0.1) | (0.3) |
exceptional result | 0.1 | 0.1 |
|
Net profit |
(1.0) |
(0.4) |
The first half was marked by a significant decline in activity. The decline in audiences for the Group’s websites, directly linked to the underperformance of newsletters, one of the main sources of traffic, as well as that generated by search engines, has a mechanical impact on advertising revenue (“direct” and “programmatic”). ). These amount to €1.1 million compared to €2.6 million in the first half of 2022.
By adding additional income from low-paying “exchanges and other products” (€0.6 million over the half-year compared to €0.7 million in H1 2022),
half-yearly turnover came to €1.7 million, down 48%.
The cost reduction measures taken quickly made it possible to limit the impact of this lack of activity on operational profitability. Personnel costs thus increased from €1.6 million to €1.0 million in 2022 over the same period.
EBITDA thus stands at -0.2 M€ close to balance
.
After depreciation charges of €0.8 million, a slight decrease compared to 1
er
half-year 2022, operating profit is -€1.0 million. The financial result remains insignificant at -€0.1 million offset by a positive exceptional result of €0.1 million. As a result, the net result shows a loss of -€1.0 million over the half-year.
Financial situation
As of June 30, 2023, the net financial debt amounts to €1.9 million including the amount of OCA (Bonds Convertible into Shares) not yet converted for €0.6 million. Available cash stood at €0.1 million as of June 30, 2023. It was still at this level as of September 30, 2023, an insufficient level given activity which has not rebounded in recent months. This situation led the company to place itself under the protection of the Commercial Court as indicated at the beginning of the press release.
ABOUT EROLD
Created in 2000, Erold (formerly Planet Media) is an independent digital media group that has become in just a few years the French leader in the convergence of content and services for connected seniors. Every day, our brands (Planet.fr, Medisite.fr, E-santé.fr, Hedony.fr, etc.) bring together more than a million French people to be informed, learned and entertained.
Erold is listed on Euronext Growth in Paris – ISIN code: FR0010211037 – Ticker: ALPLA
Find all shareholder information on www.erold.fr.
CONTACTS
|
Contact Erold Amalric PONCET, Managing Director +33 (0)1 53 06 61 39 [email protected] |
Contact Finance News Guillaume Le Floch +33 (0)1 53 67 36 70 [email protected] |
[1]
The unaudited combined accounts include Erold SA and its subsidiaries Planet Publishing and Planet Advertising, restated for intra-group operations and services
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