10 Aug Q2/2016: Debt-Free YuuZoo Continues to Show Strong Revenue and Profit Growth, while Liabilities and Receivables Decrease

  • Revenue Grows 237% year-on-year to SGD36M
  • EBIT Surges 1040% to SGD14.3M
  • e-Commerce Jumps 313% to SGD18.9M
  • Receivables decrease to 19.5M from 34.7M at December 31st 2015

Summary of financial results for 2Q 2016 and half year ended 30 June 2016

2Q2016 2Q2015 1H2016 1H2015
(SGD Million) (SGD Million) Variance (SGD Million) (SGD Million) Variance
Total Income 36.0 10.7 237% 81.5 23.8 242%
e-Commerce 18.7 4.6 307% 47.2 7.9 497%
EBITA 15.5 3.8 311% 29.8 10.8 177%
EBIT 14.3 1.3 1040% 27.1 5.7 378%

 

Singapore, 10th August 2016: Singapore-based YuuZoo Corporation Limited (“YuuZoo SGX: AFC) one of the world’s first third-generation social e-Commerce companies, today announced its second quarter 2016 results, highlighting the company’s continuous strong performance and growth.

The Group’s total income grew by 237% from SGD10.7 million in 2Q 2015 to SGD 36 million in 2Q 2016. For the half year ended 30 June 2016, total income grew 242% year-on-year to SGD 81.5 million. YuuZoo’s e-Commerce business jumped by 497% to SGD 47.2 million for the first half of 2016. EBIT surged by 1040% to SGD14.3 million in 2Q2016 and 378% to SGD 27.1 million in 1H 2016.

Trade and other receivables decreased by 44% to SGD19.5 million from SGD34.7 million at December 31st 2015, while liabilities during the same period decreased by 67% to SGD3.7 million from SGD11.2 million. The Company continued to operate fully debt-free.

YuuCorp

YuuZoo Corporation Limited

Operational Highlights

In April 2016, YuuZoo announced its new franchise agreement in Mexico with Media Rock S.A. de C.V. (“Media Rock”), a leading Mexican digital entertainment agency. Through Media Rock’s clientele, which last year recorded revenues of over USD 200 million, the agreement gives YuuZoo access to one of the world’s largest and fastest growing online markets. Mexico has a population of 120 million people, of which an estimated 34.4 million are gamers.

In June 2016, YuuZoo announced it had signed a distribution agreement with SportsHero, a gamified social sports prediction platform where users can predict, interact and compete on all major sports – virtually, and in real-time – to become a SportsHero. The application has started to be marketed to YuuZoo’s network of over 118 million consumers across 164 countries. YuuZoo’s users leverage SportsHero’s highly engaging, gamified social sports prediction platform, which includes daily, weekly, and monthly prizes. At launch, daily average user engagement on SportsHero exceeds 10 minutes. YuuZoo charges SportsHero $0.05 for each SportsHero installed by a YuuZoo user, with revenues from the app shared 50-50 between YuuZoo and SportsHero.

Effective August 1st 2016, YuuZoo announced the appointment of Singaporean Fred Lim as its new CFO. Fred Lim comes with a strong CFO background, having served as CFO of SGX-listed Sunningdale Tech Ltd as well as CFO and Executive Director of China Fanwo Public Security Limited.

Outlook for 2H 2016

Thomas Zilliacus, Executive Chairman of YuuZoo says: “YuuZoo is, through its unique partnership and franchise model, strongly positioned in the global social e-Commerce space. The strategy of the Company, to build partnerships in the largest markets in the world and to sell franchise licenses in the other countries has shown strong results in 1H 2016, with the growth expected to continue in 2H 2016. At earlier announced estimated FY 2016 earnings, the company is trading at PE of 2.1 which is less than 1/10 (less than 10%) of the average PE of 27.2 for e-Commerce peers,” he said.

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ABOUT YUUZOO

Headquartered in Singapore and listed on the SGX mainboard (SGX: AFC), with access to over 118 million registered users in 164 countries, YuuZoo uniquely combines social networking, e-Commerce and games in a mobile-optimised, fully localised tribal marketplace, where the consumer can access hundreds of tribal social networks, shops and entertainment through one single login. YuuZoo grows it international business through a network of franchisees and partners. The network currently covers 68 countries.

To see YuuZoo’s tribal marketplace, log into: www.yuuzoo.com.
For more information about YuuZoo, please log on to: www.yuucorp.com

For more information, please contact:
Investor Relations
Fred Lim
Chief Financial Officer
DD: +65-6577 0654
Email: fred.lim@yuuzoo.com


[1] Source: Statista http://statista.com

[2] Source: Article “SingPost’s unlocking of value hinges on leadership” by Kenneth Lim http://www.businesstimes.com.sg/companies-markets/singposts-unlocking-of-value-hinges-on-leadership – Published on 13 April 2016