20.03.2015
TOMORROW FOCUS AG DE0005495329
DGAP-News: TOMORROW FOCUS AG agrees sale of TOMORROW FOCUS Publishing GmbH to Burda Digital GmbH
DGAP-News: TOMORROW FOCUS AG / Key word(s): Disposal
TOMORROW FOCUS AG agrees sale of TOMORROW FOCUS Publishing GmbH to
Burda Digital GmbH
20.03.2015 / 10:21
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Corporate News
TOMORROW FOCUS AG agrees sale of TOMORROW FOCUS Publishing GmbH to Burda
Digital GmbH
- Future strategic focus on digital transaction business models,
especially in the travel sector
Munich, Germany, 20 March 2015 - TOMORROW FOCUS AG (Munich, Germany) signed
an agreement with Burda Digital GmbH today covering the sale of TOMORROW
FOCUS Publishing GmbH, which is home to the TOMORROW FOCUS Group's
publishing activities including the news portal FOCUS Online; the
German-language edition of The Huffington Post, a news portal and platform
for blogs; the finance and stock market information portal Finanzen100; the
parent portal NetMoms; and TOMORROW FOCUS Media, a cross-digital sales
house.
The decision to sell the Group's advertising-based operations will allow
TOMORROW FOCUS AG to concentrate on digital, transaction-based business
models, especially in the travel sector. The objective is to further expand
the Group's market position as one of Europe's leading providers in the
field of hotel ratings and travel bookings. At the same time, TOMORROW
FOCUS AG will examine the potential for speeding up growth in the
Subscription segment with its high-profile brands ElitePartner and jameda,
and the recent start-up organize.me. One such option under consideration
involves inviting strategic partners to acquire a stake in the companies
that make up the segment. TOMORROW FOCUS AG will explain its future
strategy in detail at its Capital Markets Day, which is scheduled for the
end of May 2015.
The agreed purchase price is EUR 30.2 million. This valuation is equivalent
to 8.6 times the 2014 EBITDA of TOMORROW FOCUS Publishing GmbH. According
to initial estimates (based on carrying values as at 31 December 2014), the
resulting book profit under IFRS rules will be at least EUR 20 million. The
single-entity financial statements of TOMORROW FOCUS AG under the German
Commercial Code (Handelsgesetzbuch, HGB) will show a book profit of EUR 3.1
million. The sale is subject to a number of conditions precedent but should
be completed in the second quarter of 2015.
The cash inflow will be used to pay off a bonded loan of EUR 14.5 million
that is due to mature in 2016 and to generate further growth in the Travel
segment. In financial 2014, the companies that will be sold contributed EUR
29.7 million to the Group's total revenue and EUR 3.5 million to
consolidated EBITDA.
Burda Digital GmbH will take over all publishing assets and the digital
sales house with all employees. They will be integrated into its
National Digital Brands division. It is intended that the journalistic
units and the digital marketing specialist, TOMORROW FOCUS Media, will
continue to be managed independently by existing staff.
According to Toon Bouten, Chief Executive Officer of TOMORROW FOCUS AG,
"The sale makes good sense for all concerned, and it leaves the company
with a clearer focus. Our hotel rating and travel portals, HolidayCheck and
Zoover, give us a strong market position in the travel sector with
excellent prospects for expansion in one of the Internet's most important
and largest growth markets. We are also planning a big drive to expand
ElitePartner, jameda and organize.me in collaboration with strategic
partners. At the same time, Burda's decision to embed TOMORROW FOCUS
Publishing in its national digital operations opens up new prospects and
opportunities for those successful brands and their employees."
About TOMORROW FOCUS AG
TOMORROW FOCUS AG (ISIN DE005495329) is based in Munich, Germany, and is
one of the leading exchange-listed Internet groups in Germany. The Group
has a workforce of around 750, and its business operations are divided into
three segments: Travel, Publishing and Subscription.
The Travel segment includes HOLIDAYCHECK AG, which operates a number of
hotel review and travel booking portals by the same name; the travel
division of WEBASSETS B.V., which operates the ZOOVER hotel review portals;
and TOMORROW TRAVEL B.V., which operates the Dutch online travel agent
TJINGO.
The Subscription segment is made up of ELITEMEDIANET GmbH, which operates
the premium online dating agency ELITEPARTNER.de; JAMEDA GmbH, which
operates the physician rating portal JAMEDA.de; and ORGANIZE.ME GmbH, which
operates an app-based document organisation and reminder system.
The Publishing segment includes TOMORROW FOCUS Publishing GmbH with the
subsidiaries TOMORROW FOCUS Media GmbH (one of Germany's leading digital
marketing providers) and TOMORROW FOCUS News+ GmbH, which operates a number
of Internet portals such as the news journalism and utility site FOCUS
Online; the news portal and platform for views THE HUFFINGTON POST; the
stock market information portal FINANZEN100; and the parent portal NETMOMS;
and the meteorological arm of WEBASSETS B.V., which operates the METEOVISTA
and WEERONLINE weather portals.
Media and Investor Relations contact:
TOMORROW FOCUS AG
Armin Blohmann
Neumarkter Strasse 61
81673 München
Germany
phone +49 (0)89 9250 1256
fax +49 (0)89 9250 2403
email [email protected]
www.tomorrow-focus.de
http://twitter.com/tomorrowfocus
http://facebook.de/tomorrowfocus
http://youtube.com/tomorrowfocus
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20.03.2015 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements,
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Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: TOMORROW FOCUS AG
Neumarkter Str. 61
81673 München
Germany
Phone: +49 (0)89 9250-1256
Fax: +49 (0)89 9250-2403
E-mail: [email protected]
Internet: www.tomorrow-focus.de
ISIN: DE0005495329
WKN: 549532
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated
Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover,
Munich, Stuttgart
End of News DGAP News-Service
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