aufeminin – 2017: Revenue Growth of 6% to €113 Million, EBITDA Margin of 19% and Stable Net Profit of €11 Million


Regulatory News:

Groupe aufeminin (Paris:FEM) (ISIN: FR0004042083, Ticker: FEM), 1st creator of communities, announces its 2017 annual results.

Marie-Laure Sauty de Chalon, CEO of aufeminin, says: “In an environment undergoing extensive changes, aufeminin is continuing the in-depth transformation of its business model towards programmatic advertising, marketing content and social e-commerce. With strong potential in terms of revenues and results, these changes are weighing heavily on the Group’s profitability. The Group is now accelerating its positioning on Influence, Brand Publishing and Social Media, and is maintaining its high profitability target”.

Financial summary - published data:

€ millions 2017 2016 (2) Δ
Revenues 113.5 107.0 +6%
EBITDA (1) 21.3 24.7 -14%
as a % of revenues 19% 23%
Operating profit 12.1 17.7 -32%
as a % of revenues 11% 17%
Net profit group share 11.0 11.0
Operating cash flow 12.3 17.9 -31%
Net cash position at close 66.2 78.6

(1) EBITDA results from operating income minus expenses, non-recurring operating income, amortisation and provisions.
(2) The Polish subsidiary having been divested at the end of March 2017, Ofeminin’s contribution in 2016 as well as in 2017 have been reclassified as “net profit from divested activities”.

2017 revenues: +6% to €113.5m - International activity accounted for 51% of total activity

In 2017, the aufeminin group’s revenues totalled €113.5 million, up +6% on the previous year. The Group is continuing to record very satisfactory performances on the French market, with revenues up +8% to €55.5 million, and internationally, with activity growing by +5% to €58.0 million.

From an operational standpoint, the Group is continuing to increase its “Social e-commerce” and “Programmatic” advertising revenues, with growth exceeding 20% on each segment. On the other hand, traditional advertising revenues have decreased, as anticipated by the Group for more than two years.

The deployment of these activities has thus become a major growth route for the Group, both in France and internationally, accounting for over 67% of Group revenues.

EBITDA margin of 19% – Profitability level down but under control

Total operating expenses came to €92.2 million in 2017, up 12%.

This increase was a result of the direct costs of “Programmatic” advertising in accordance with the model developed by the American subsidiary Livingly Media (currently being deployed in France and Europe), as well as the deployment of the “Social e-commerce” model in France and Japan.

On the other hand, excluding the effect of IFRS 2 expenses, personnel costs were stable. The Group is continuing to intensify its presence on its new business segments by recruiting talented staff whilst controlling its workforce on the traditional “Direct Media” segment.

2017 EBITDA was thus €21.3 million, giving an EBITDA margin of 19% versus 23% in 2016.

Including non-recurrent operating elements and depreciation costs, current operating profit was €12.1 million and the current operating margin was 11% versus 17% in 2016.

Once tax – impacted by the recognition of future tax benefits on the US subsidiary – and minority interests are taken into account, net profit group share was stable at €11.0 million.

Good EBITDA conversion rate, net cash position down €12.4 million to €66.2 million

Operational cash flow was €12.3 million, versus €17.9 million in 2016, giving an EBITDA conversion rate of 58% in 2017 impacted by the working capital of the last two of the year.

Net cash flow was -€12.4 million, notably as a result of the increased stake in My Little Paris in October 2017. The net cash position was €66.2 million at the end of December 2017 (excluding the changes in perimeter impact, the Group’s net cash position would have been €87.3m, +€8.7 M€ versus 2016).

See details in the appendix

Next publication: Q1 2018 revenues and results, on Thursday 19 April, 2018, after market.

About aufeminin

1st creator of communities, the Groupe aufeminin provides an editorial and community-based offer covering mainly : Fashion, Beauty, Parenthood, Cooking, News, Entertainment, etc.

With media brands such as aufeminin, Marmiton, My Little Paris, Merci Alfred, Onmeda, Zimbio.com, Livingly.com and Stylebistro.com, the Group is present in more than 20 countries in Europe, North Africa, North America and Latin America.

With a global audience of 155 million monthly visitors (1), the Groupe’s presence is gaining momentum on all platforms such as mobile, videos and social networks and strengthens its diversification strategy through ecommerce, programmatic and brand publishing pillars.

My Little box : https://www.mylittlebox.fr/
Gambettes box : https://www.gambettesbox.fr/
Loom: https://www.loom.fr/
Edie & Watson : https://www.edie-et-watson.com/
Gretel box : https://www.gretel-box.com/
Beautiful Box by aufeminin : https://www.beautiful-box.com/

The Groupe aufeminin, which is 78.43% owned by the Axel Springer group, is listed on compartment B of Euronext Paris (ISIN: FR0004042083, Ticker: FEM). In 2017, the Group recorded revenue of €113,5 million and an EBITDA of €21.3 million.

[1] Source: Google Analytics, Groupe aufeminin - without deduplication – December 2017





2017 2016 Δ
Revenue 113.5 107.0 +6%
Operating expenses 92.2 82.3 +12%
of which: Staff costs 29.2 28.3 +3%
of which: Other purchases and external costs 63.0 54.0 +17%
EBITDA (1) 21.3 24.7 -14%
as a % of revenue 19% 23%
Other operating expenses -3.6 -3.4
Amortisation & provisions -5.6 -3.5
Operating income 12.1 17.7 -32%
as a % of revenue 11% 17%
Financial income -0.1 -0.1
Corporation tax -0.8 -5.6
Net income from divested activities(2) - -
Income from associates - -

Net profit



Attributable net profit 11.0 11.0

(1) EBITDA results from operating income minus expenses, non-recurring operating income, amortisation and provisions.
(2) The Polish subsidiary having been divested at the end of March 2017, Ofeminin’s contribution in 2016 as well as in 2017 have been reclassified as “net profit from divested activities”.



2017 2016
Goodwill 50.3 53.7
Intangible assets 25.0 26.6
Other non-current assets 5.0 2.1
Total non-current assets 80.3 82.4
Current assets 42.5 43.3
Cash & cash equivalents 66.2 78.6
Total current assets 108.7 121.9
Total assets 189.0 204.3
Group shareholders’ equity 138.0 130.8
Minority interests - -0.2
Consolidated shareholders’ equity 138.0 130.6
Non-current liabilities 7.2 10.3
Current liabilities 43.8 63.4
Total liabilities 189.0 204.3



2017 2016
Net profit 11.3 12.0
Gross cash flow 12.7 15.4
Change in working capital requirements -0.4 2.5
Operating cash flow 12.3 17.9
Acquisition / divestment of net consolidated securities -21.1 0.1
Others -6.7 -3.4
Cash flow from investments -27.8 -3.3
Cash flow from financing 3.7 2.3
Impact of foreign currency fluctuations -0.6 -1.4
Cash flow -12.4 15.5
Cash position at start of period 78.6 63.1
Cash position at end of period 66.2 78.6

View source version on businesswire.com: http://www.businesswire.com/news/home/20180312006026/en/

Relations investisseurs :
Mathilde Bohin / Marc Willaume, +33 (0)1 44 71 00 13

Source: aufeminin