Dividend To Be Increased
April 16 2010, Paris. France. Netgem (
http://www.netgem.com), a leading provider of IPTV technology and services worldwide, today announced its Q1 2010 revenues.
Revenue and activity
• Netgem generated consolidated revenues of € 46.9 million for the quarter ending 31 March 2010, up 39% on a like-for-like basis (excluding the contribution of the Content and Services arm, which was deconsolidated in January 2010).
• Over the first quarter 2010, sales generated with SFR include revenue from the software licence signed and include relatively stable volumes for terminal deliveries compared to the first quarter of 2009.
• Sales outside of SFR increased seven-fold and include the first deliveries to the new operator clients announced by the Group in recent months.
Figures in € millions – IFRS norms Quarter
1Q 2010 1Q 2009 Change 10/09
Like-for-like sales 46.9 33.8 +13.1 +39%
Changes to perimeter (1) - 4.0 -4.0 -100%
Total sales 46.9 37.8 +9.1 +24%
Analysis of like-for-like sales by region
France 43.3 33.4 +9.9 +30%
International 3.6 0.4 +3.2 +749%
(1) Contribution of Content and Services (VideoFutur), now deconsolidated
Comments on Group strategy
In light of the level of profitability expected for 2010, the favourable momentum on the worldwide IPTV market and the confirmation of the Group’s first successes abroad, Netgem’s management has decided to accelerate international growth by implementing an ambitious investment plan that will shore up the technical, marketing and sales teams and enhance the product offer.
Financial health and results
Favourable trends in the first quarter enabled the Group to reinforce its financial situation, which, despite the recapitalisation of VideoFutur and the payout of exceptional dividends in January 2010, is characterized by a high level of cash.
Operations and key events
The first quarter of 2010 saw the deconsolidation of the Content and Services arm, now integrated in VideoFutur, following the payout in January 2010 to Netgem shareholders of an exceptional dividend in cash and VideoFutur shares.
Dividend policy
Based on the company’s results in 2009 and its solid financial health, the Board is proposing to raise the dividend per share to € 0.11, an increase of 10% compared to the payout on 2008 earnings.
