LeGuide.com Group

2013 Annual results Net Sales up +4% Operating margin maintained at a high level (14%) A very solid financial position

Press release

Paris, 4^th March 2014

2013 Annual results
Net Sales up +4%
Operating margin maintained at a high level (14%)
A very solid financial position

Consolidated income statement under IFRS rules

Audited figures, €m	2013 IFRS	2012 IFRS
Net Sales	45.6	43.8
RESOP (Recurring EBIT)	6.2	8.2
Acquisition-related expenses Restructuring costs	- (1.0)	(1.3) -
Income before interest and tax	5.2	6.9
Financial result	0.2	0.3
Pre-tax income	5.4	7.2
Tax	(2.2)	(2.7)
Consolidated net income	3.3	4.5
Minority interests	-	-
Net income, group share	3.3	4.5

Group and consolidated financial statements have been audited. The certification report is in the process of being issued.

2013 Net Sales: €45.6m (+4%)

Group Net Sales rose by 4% to €45.6m in 2013 (-2% on a like-for-like basis).

Despite being strongly impacted by the large-scale roll-out of Google Shopping in the second half of the year, especially on Ciao, the group's historical businesses were resilient and grew by 6% over the year.

Operating margin: 14%

With RESOP (recurring EBIT) of €6.2m, the group generated an operating margin of 14%.

RESOP includes the increase in marketing expenditure and recruitment. During the year, the group also invested heavily in R&D to prepare future innovations.

Besides, the group took the decision to close the Dooyoo office in Berlin and to concentrate and operate German activities (CIAO and Dooyoo brands) at the Munich location. This reorganisation, which will be a source of savings from 2014 onwards, gave rise to the main portion of the restructuring costs in 2013. Income before interest and tax therefore came to €5.2m.

After a positive financial result of €0.2m and a €2.2m tax charge, net income, group share, stood at €3.3m.

A very solid financial position

The group generated positive cash flow of €4.0m in 2013 and its cash position at 31 December 2013 stood at €26.7m. With €46.0m of shareholders' equity and no financial debt, LeGuide group has a very solid financial position.

Outlook: growth expected to resume in the second half of the year

The first half of 2014 is likely to be impacted again by Google's offensive in the Comparison Search Engine (CSE) market, leading to a decline in activity compared with a very strong first half of 2013.

The group is confident that it can restore growth in the second half of 2014, notably thanks to the development of alternative traffic to Google. LeGuide group has just signed new partnership agreements with large operators such as Roularta Media Group and 20minutes, and it will equip more than 200 sites of the Comprendre Choisir family operated by Fine Media, the leading site providing practical information on everyday life in France.

The group is also continuing its investment policy, which will lead to the roll-out of innovations in 2014.

LeGuide group is keeping a close eye on the development of discussions between Google and the European Commission in connection with the probe into the practices of Google, which is suspected of abusing its dominant position. A first step has been completed with the announcements of February 2014, but the reactions of the different parties involved may lead to further outcomes.

Olivier Sichel, Chairman and CEO of LeGuide group, comments: "In a difficult environment, we chose to launch an innovation offensive by investing heavily in the technical development of our services for an operational roll-out in the course of 2014. The success of this strategy, based on a permanent improvement in the relevancy of our results, will be obviously supported by the truly competitive nature of the market and therefore by the results of the discussions of the Vice President of the European Commission, Joaquín Almunia with Google."

Next publication: first-quarter 2014 sales on April 17^th, 2014 after closing.

About LeGuide group, the European shopping guides leader

The LeGuide group, provider of shopping guides, price comparison sites, shopping search engines and internet review platforms, is number one in Europe with 19,8 million unique visitors*. The group has a 180-strong workforce and operates in 14 European countries, delivering its multi-site strategy out of several subsidiaries including LeGuide.com, Ciao, dooyoo.com, mercamania.com and choozen.com. The group, which lists 193 million offers from 82,645 merchants, turned over €45.6 M in 2013. The LeGuide.com group has been awarded 'Innovative enterprise' status by the French innovation agency OSEO and is listed on NYSE Euronext Paris's Alternext (tag ALGUI, ISIN code FR0010146092).
* Source: Comscore, January 2014

LeGuide Group Olivia Fuchs [phone] [e-mail]

Anaïs de Scitivaux [phone] [e-mail]

For more information: www.leguidegroup.com / Investor Relations and/or Newsroom

APPENDICES

SIMPLIFIED 2013 FINANCIAL STATEMENTS UNDER ifrs

Group and consolidated financial statements have been audited. The certification report is in the process of being issued.

Consolidated income statement

Audited figures, €m	2013 IFRS	2012 IFRS
Net Sales	45.6	43.8
RESOP (Recurring EBIT)	6.2	8.2
Acquisition-related expenses Restructuring costs	- (1.0)	(1.3) -
Income before interest and tax	5.2	6.9
Financial result	0.2	0.3
Pre-tax income	5.5	7.2
Tax	(2.2)	(2.7)
Consolidated net income	3.3	4.5
Minority interests	-	-
Net income, group share	3.3	4.5

Consolidated cash flow table

Audited figures, €m	2013	2012
Cash flow Change in working capital	4.3 (0.3)	7.4 (0.5)
Cash flow from operating activities	4.0	6.9
Cash flows relating to investment activities	(1.1)	(16.5)
Capital increase in cash Reimbursement of financial debt	0.4 (1.3)	0.7 (1.3)
Cash flows relating to financing activities	(0.9)	(0.6)
CHANGE IN CASH POSITION	2.0	(10.1)
Opening cash position	24.7	34.8
Closing cash position	26.7	24.7

Consolidated balance sheet

Audited figures, €m	31 Dec. 2013 IFRS	31 Dec. 2012 IFRS
ASSETS
Non-current assets	19.0	18.9
Current assets of which cash	40,0 26.7	38.1 24.9
TOTAL ASSETS	59.0	57.0
LIABILITIES
Shareholders' equity	46.0	41.6
Non-current liabilities	0.1	0.3
Current liabilities	12.8	15.0
TOTAL LIABILITIES	59.0	57.0

Annual Results 2013

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Source: LeGuide.com Group via Globenewswire

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