Adenclassifieds (ADEN:PAR), the operator of recruitment, training and property classified advertising websites, has published unaudited annual results for the year ended 31 December 2009.
Turnover was down by -9.6% from 59.1 million Euro in 2008 to 53.4 million Euro in 2009. EBITDA fell by -44.4% from 10.6 million Euro in 2008 to 5.9 million Euro in 2009.
Operating profit was down by -90% from 7.5 million Euro in 2008 to 0.7 million Euro in 2009. Attributable net profit fell by -87.8% from 6.4 million Euro in 2008 to 0.8 million Euro in 2009.
Thibaut Gemignani, CEO, comments, "the slowdown in our main markets that are Recruitment and Property impacted our level of activity. Nevertheless, the maintaining of IT investments and our ability to innovate are contributing to the quality of our sites and put us in an advantageous position to benefit from signs of a recovery. I would also like to emphasise the trust our clients have in us and the efforts undertaken by our teams, which encourage us to intensify the development of our three activities in 2010."
Pierre Conte, Chairman of the Management Board, concludes, "We still have little visibility on the current year, and strict management measures will therefore continue. Despite the crisis in 2009, we were able to maintain solid margins for our Recruitment activity by consolidating our leadership."
"Via the pursuance of our investments and the increased web enhancement of flagship 'Indicateur Bertrand' brands, we hold all the keys to Property market success. This will be our main focus in 2010, with our aim being to eventually establish ourselves as the number 2 in this market."
Adenclassifieds' majority shareholder is the Figaro publishing group, which in turn is owned by Groupe Dassault. Adenclassifieds has a multi-brand strategy across its 3 activities: online recruitment sites(Cadremploi.fr, Keljob.com and Cadresonline.com), online Training (Kelformation.com) and online Property (Explorimmo, Proprietes de France, Indicateur Bertrand, Bertrand Vacances and OpenMedia).
In early trading Adenclassified's shares were down by -0.78% to 19 Euro