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 |