OnMobile Global (“OnMobile”) today announced the results for the First Quarter FY2015 ended June 30, 2014. proceeds for Q1 FY2015 was Rs. 1,988 million, an increase of 4.8% y-o-y and a decline of 11.7% q-o-q. EBITDA was Rs. 156 million at 7.9% margin and Net Profit was Rs. (239) million.
Key Highlights
§ International business: Revenue increased 21.7% y-o-y, however declined 5.3% q-o-q to Rs. 1,525 million and constituted 77% of the revenues during Q1 FY2015
o Latin America: Revenue remained stable y-o-y, however increased 4.9% q-o-q to Rs. 512 million
o Other Emerging Markets: Revenues decreased 4.6% y-o-y and 4.7% q-o-q to Rs. 325 million
o Developed Markets: Showed vigorous growth of 72.3% y-o-y, however declined 12.0% q-o-q to Rs. 687 million
·Europe: Continued to show robust growth with revenues increasing 53.9% y-o-y to Rs. 464 million; revenues were flat q-o-q
·OLI recorded revenue of Rs. 168 million, a decline of 22.2% q-o-q
§ India: Revenues recorded decrease of 28.1% y-o-y and 27.8% q-o-q to Rs. 463 million. Sequential decrease caused by one-time revenue in Q4 FY2014. On the basis of key performance indicators, India has been stable from the last quarter
Q1 FY2015 Financial Highlights (excluding OLI)
§ Revenue remained flat y-o-y and decreased 10.6% q-o-q to Rs. 1,820 million
o Domestic revenues declined 28.1% y-o-y and 27.8% q-o-q to Rs. 463 million. Sequential decrease caused by one-time revenues in Q4 FY2014
o International revenues recorded an increase of 8.3% y-o-y majorly due to Europe and Asia businesses and were flat q-o-q at Rs. 1,357 million
§ EBITDA declined 50.9% y-o-y and 39.2% q-o-q to Rs. 205 million at 11.3% margin
o Impacted by increased content costs y-o-y in Europe and forex loss of Rs. 39 million; partly offset by savings in operating expenses
o Normalized for forex impact, EBITDA decreased 41.6% y-o-y with 13.4% margin
§ Net Profit was Rs. (121) million, as compared to Rs. 141 million in Q1 FY2014 and Rs. (1,243) million in Q4 FY2014
o Normalized for forex, Net Profit was Rs. (82) million
Other Highlights
§ Completed the sale of Voxmobili S. A. to Synchronoss Technologies Inc. for a consideration of USD 26 million. The divestiture is part of the Company’s strategy to focus on its core businesses
§ Appointed Mr. Rajiv Pancholy as Managing Director in addition to the position of CEO. Also appointed Mr. Francois-Charles Sirois as an Additional Director to the Board of Directors
§ Appointed Ms. Nancy Cruickshank as an Independent Director to the Board of Directors. Ms. Nancy is a serial entrepreneur and the Founder and CEO of MyShowcase, an innovative online and direct beauty retailer. She is also the Founder of Handbag.com, a pioneering fashion and beauty portal and has held executive positions at Weve, VideoJug and Telegraph Media Group
§ Appointed Mr. Bruno Ducharme as an Independent Director to the Board of Directors. Mr. Bruno is the Chairman of TIW Capital Partners, a private investment company. He is also the Founder of Telesystem International Wireless, a mobile operator with operations in several countries. Mr. Bruno has held executive positions at Vizada, Telesystem, Microcell Telecommunications and Teleglobe
