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Year in Review

2015 Financial Review

Matomy’s revenue increased 14% to $271.0 million, whilst adjusted EBITDA rose 27% to $25.7 million.

Income statement

Matomy had another year of favorable progress in 2015, with revenue improving by 14%, to $271.0 million (FY2014: $237.4 million). Adjusted EBITDA (defined as net income before taxes on income, financial expenses (income), net, equity losses of affiliated companies, net, depreciation and amortisation, share based compensation expenses and exceptional items) rose 27% to $25.7 million (FY2014: $20.3 million) at a 9.5% adjusted EBITDA margin, representing a 100 basis point improvement in margin. Excluding the effects of amortisation of new acquisitions and the one-time $7.3 million gain recorded in 2014 from the Team Internet acquisition, earnings per share increased to $0.15 (2014: $0.04), while on a GAAP basis, EPS decreased to $0.07. (2014: $0.10) Operating profit and pretax profit increased 40% and 117%, respectively. Our growth was driven primarily by our identified strategic growth areas of mobile, video, domain monetisation and email activity.

Summary income statement

Year ended 31 December 2015
(US dollars in thousands, except earnings per share data)

  2015 2014
Revenues $ 270,976 $ 237,443
Cost of revenues 208,849 178,479
Gross profit 62,127 58,964
Operating expenses
Research and development 8,080 7,823
Selling and marketing 25,943 23,356
General and administrative 15,988 19,151
Total operating expenses 50,011 50,330
Operating income 12,116 8,634
Financial expenses, net 2,179 4,051
Income before taxes on income 9,937 4,583
Taxes on income 2,681 1,766
Gain on remeasurement to fair value and equity gains (equity losses and impairment) of affiliated companies, net (24) 6,969
Net income 7,232 9,786
Revaluation of redeemable non-controlling interest in subsidiaries (76) (1,820)
Net loss (income) attributable to redeemable non-controlling interests in subsidiaries (545) (65)
Net loss (income) attributable to other non-controlling interests in subsidiaries 2 102
Net income attributable to Matomy Media Group Ltd. $ 6,613 $ 8,003
Basic earnings per ordinary and preferred share $ 0.07 $ 0.10
Diluted earnings per ordinary preferred share $ 0.07 $ 0.09