Report for Q2, January-June, 2016 Letter of CEO We hereby file the UCP Quarterly Report for Q2 2016. The complete report can be viewed here. In addition to the report, we want to highlight the following in the UCP group development;
Net revenues and media billings Net revenues are 30% higher compared with the same period in 2015. This is both a consequence of new clients won the second half of 2015 and increased sales of services to current clients. The three months ended June 30, 2016, has had lower growth than the first quarter due to clients investment pattern, but still net revenues are 25.8% higher than the same period last year. Compared with last year the clients’ media investments, including minority interest companies, have increased with 15%. Our share of the aggregated media spend for all companies in the group increased by 38% ($ 15.5 MUSD) in the first half year of 2016. It remains uncertain whether clients’ media investments will continue its growth to the same extent the third quarter as the second quarter, but outlook is promising. We are also continuing to increase sales of services not directly linked to media investments, creating growth in gross profit.
Gross profit and result of operations Gross profit for the group has increased 26.7% during the six months ended June 30, 2016, compared to 2015. The Gross profit margin for the six months ended June 30, 2016, is 8.2% compared to 8.4% the same period last year. The gross profit margin has increased in three months ended June 30, 2016, compared to the first three months ended March 31, 2016 – from 8% to 8.46%. The operations generated a profit of $105,000 the first half year compared to a loss of $177,000 the same period last year. The selling, general and administrative expenses of the operations have increased 12.2% so far this year. The increased scope of our operations has increased the expenses in the second quarter due to increased number of staff and investments in training, systems and tools, but we aim to keep our organisation both efficient and effective, with a firm focus on creating better results both for us and for our clients.
Profit/Loss before taxes and minority interest Profit before taxes and minority interests generated this year until the end of June is $82,000 compared to a loss of $131,000 in 2015. The profit available to shareholders for the six months ended June 30, 2016, is $17,000. That is a decrease compare compared to the first three months ended March 31, 2016, and our aim is generate further profit during the last six month of the year.
We will continue our efforts for increased sales and profitability for the group.
New York, USA, 15th of August 2016 Niclas Fröberg Chief Executive Office
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