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Wednesday 10 November, 2010


MEETIC: results for the 3rd quarter of 2010

PR Newswire/Les Echos/

Boulogne-Billancourt, 9th November 2010


Revenue for the first 9 months: +22.5% to EUR137.7m
Q3 2010 EBITDA margin: 23.9%

MEETIC (FR0004063097 - MEET), the European leader in online dating, today
announces its consolidated results for the third quarter and first 9 months 
of 2010.

* Consolidated revenue by activity*

In millions of euros                   30/09/2010    30/09/2009(1)    Var. %
                                       (9 months)     (9 months)
                                          133.5          108.4        +23.2%
          % of total revenue                97%            96%    
Mobile                                      2.8            2.7         +2.8%
          % of total revenue                 2%             3%
Other                                       1.4            1.3         +5.3%
          % of total revenue                 1%             1%
TOTAL                                     137.7          112.4        +22.5%


(1) Meetic's 2009 accounts have been restated to take into account the
ParPerfeito subsidiary's transfer to the JV created with on 
10th March 2010

The Group's consolidated revenue for the first 9 months of the year totalled
EUR137.7 million, up +22.5% on the same period last year.

Subscription sales (excluding deferred revenue) came to EUR137.4 million over
the first 9 months of 2010, an increase of +24.2% on the same period of 2009.

* Consolidated revenue by quarter

In millions of euros               2010                        2009       
                        Q1 2010  Q2 2010  Q3 2010   Q1 2009  Q2 2009  Q3 2009
Internet                   42.0     46.6     44.9      30.3     34.0     44.1
Mobile                      1.0      0.9      0.9       0.9      0.9      0.9
Other                       0.4      0.5      0.5       0.4      0.6      0.3
TOTAL                      43.4     48.0     46.3      31.6     35.5     45.3

Internet revenue totalled EUR44.9 million over the 3rd quarter, with 
EUR47.9 million in subscription sales (excluding deferred revenue).
The quarter saw buoyant sequential growth, notably doped by the growth of

- Subscription sales, an indicator of the growth of Internet activity, were up
8% on the 3rd quarter of 2009, at EUR47.9 million vs. EUR44.4 million, and up 
4% on the second quarter of 2010 (EUR45.9 million).

- The Group had 869,000 subscribers at 30th September 2010 compared to 858,000
at 30th June 2010, an increase of +11,000 subscribers over the quarter.

Subsequently, the buoyant sequential growth in Matchmaking resulted in a
significant change in the client mix over the quarter, as well as a 
substantial increase in deferred revenue, which stood at EUR3.0 million for 
the third quarter alone.

* Consolidated results to 30th September 2010

In millions of euros             30/09/2010      30/09/2009      Var. %
                                 (9 months)    (9 months) (1)

Revenue                             137.7           112.4        +22.5%

EBITDA* before the cost
of free shares                       20.8            23.0         -9.6%
                   % of revenue      15.1%           20.5%

EBITDA*                              18.9            20.5         -8.1%
                   % of revenue      13.7%           18.3%

Operating profit                     15.7            18.5        -14.8%
                   % of revenue      11.7%           16.4%

Share of the profit of the JV 
accounted for using the equity 
method                                0.5              -            -

Net profit from continuing 
activities                            9.1            11.6        -21.4%

Net profit from
discontinued activities               2.3             1.0       +128.2%

Net profit                           11.4            12.6         -9.4%
                   % of revenue       8.3%           11.2%


* Earnings Before Interest, Taxes, Depreciation and Amortization
(1) Meetic's 2009 accounts have been restated to take into account the
ParPerfeito subsidiary's transfer to the JV created with on 
10th March 2010

  - Increase in profitability over the third quarter

Marketing investments totalled EUR23.3 million over the quarter, i.e. 50.3% of
revenue, notably reflecting the ongoing promotional efforts being undertaken 
on the Matchmaking segment and the good control of advertising campaigns on the
Dating segment. Total marketing investments since the start of the year stand 
at EUR79.3 million, or 58% of 9-month revenue.

As a consequence of the controlled marketing investments over the quarter, the
EBITDA margin (including the cost of free shares) was 24% over the third
quarter, putting the Group's profitability for the first 9 months of the year 
at close to 14%.

  - Share of the profit of Global Investments

The Group's share of the profits of Global Investments (JV for the
development of Match and Meetic in Latin America) came to EUR0.3 million over
the quarter, giving a total of EUR0.5 million between 10th March and 30th June
2010. As a reminder, the Group's share of the JV's profits is consolidated in
the Group's accounts with a one-quarter lag.

  - Sound financial structure

At 30th September 2010, the Group had a net cash surplus of EUR28.2 million.
Operating cash flow totalled EUR21.2 million over the first 9 months of the
year, before the payment of EUR6.0 million in tax.

  * Annual guidance and outlook

For 2010 as a whole, the significant change in the client mix in favour of
longer subscriptions over the summer perpetuates the Group's growth in 
activity, but reduces the published net sales growth figure by increasing the
amount of deferred revenue, which is characteristic of a growing subscriber 

The Group feels that the momentum seen over the last two quarters, driven by 
the marketing investments agreed since March, should be reaffirmed in the 
fourth quarter and should thus allow the Group to record a similar or higher 
level of subscription sales compared to that recorded in the 3rd quarter.

However, Meetic has been penalised in its growth by unexpected competitive
pressure from new competitors on the Matchmaking segment in Germany who have
massively invested on their main market, thus reducing Meetic's advertising
share of voice in that country. This situation will lead the Group to quickly
reassess its strategy on the German market, which is henceforth the most
contested in Europe.

Subsequently, the Group currently feels that it can achieve, over 2010 as a
whole, subscription sales growth of around 5%, compared to 2009 pro forma
activity. However, given the recent changes in the client mix, it is not able
to provide net sales growth guidance, as was the case previously.

For comparison purposes, pro forma revenue including's European
activities as if they had been incorporated from 1st January 2009 totalled
EUR137.0 million for the first nine months of 2009 and EUR182.3 million for 
2009 as a whole. Pro forma subscription sales for the whole of 2009 totalled 
EUR177.9 million

Meetic is reaffirming its guidance of an EBITDA margin, after the cost of free
shares, of more than 20% over FY 2010. The Group has substantial control over
its profitability thanks to the steering of its marketing investments. It
intends to achieve the margin target it has set without slowing the growth
recorded by the Matchmaking segment and by preparing itself to start 2011 in 
the best possible conditions. The marketing investments agreed in the fourth 
quarter will meet this twofold objective.

Marc Simoncini, CEO of Meetic, concludes: "In 2011, Meetic will begin the third
phase of its history. After establishing itself on the European Dating market
and then successfully launching its Matchmaking sites in Europe, the Group
intends to make the most of the boom in Smartphone services to establish 
itself on this new media form. Thus, from the first quarter of 2011, Meetic 
will provide paying Dating applications on the main mobile platforms that will
create a significant growth relay for the next three years on the Dating 
segment. Furthermore, the Group will continue to heavily invest on the 
Matchmaking segment, with the aim of being the European leader in terms of 
revenue from 2011. Meetic will also pay particular attention to the external 
growth opportunities that will present themselves on the European Dating or 
Matchmaking segments. Lastly, the Group will continue to launch new sites in 
order to cover segments as yet not utilised by its main brands. Meetic's 
management team will be in charge of deploying this strategic plan in coming 
years; this team's complementary nature and their control of the Internet and 
Mobile environments will be the best assets of this Group, which will remain 
one of Europe's foremost Internet groups and will become a significant player 
in Smartphone services."

About Meetic, European online dating leader ( Meetic
manages two services in Europe: online dating and matchmaking, mainly under 
the meetic and Meetic Affinity brands, and markets two highly complementary 
economic models on the dating market, one based on internet use, the other on 
mobile phones. By acquiring the European activities of world leader 
in June 2009, Meetic has strengthened its first place on the continent. The 
group is currently established in 16 European countries, and is available in 
13 languages. From inception, the group has pursued a clear leadership strategy
focusing on quality, innovative marketing and perfect technological expertise.
Meetic works hard to optimize service quality and to satisfy every possible
expectation of its European subscribers. In 2009, Meetic posted sales of
EUR157.9 million and an EBITDA margin of 23.7%.

Listed on Euronext Paris - Compartment B of the NYSE Euronext - 
ISIN: FR0004063097

MEETIC                                             NewCap
Finance Department                                 Investor Relations
Sandrine Leonardi                                  Pierre Laurent
Corporate Secretary                                Axelle Vuillermet
                                                   Tel: +33 (0)1 44 71 94 94
                                                   [email protected]

                                    * * *

                  2010 annual revenue will be published on
                     10th February 2011, after market.
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