PageJaunes Reports Numbers

France Telecom's directories unit, PagesJaunes, reports revenues of €774.3M in the first 9 months of 2005, up 6.3% from the same period last year

October 26, 2005

5 Min Read

PARIS -- The consolidated revenues of PagesJaunes Groupe amounted to 774.3 million euros in the first 9 months of 2005, up 6.3% compared to the same period for 2004 on a comparable consolidation (1) and publication basis (2). In the third quarter 2005, the consolidated revenue of PagesJaunes Groupe has reached 292.6 million euros, up 5.4% on a comparable consolidation (1) and publication (2) basis.

On the publication of PagesJaunes Groupe's revenues at September 30, 2005, CEO Michel Datchary, said: "PagesJaunes Groupe has maintained over the first 9 months of the year 2005 growth in line with its annual targets. In the third quarter 2005, in a context of slower growth in the French advertising market, the PagesJaunes in France segment has pursued high growth owing mainly to the development of its Internet services which represent around one quarter of our revenues in France. For its part, the revenues of the International and Subsidiaries segment benefited from the dynamism of QDQ Media in Spain where sales pursued their double-digit growth, out-performing the Spanish advertising market."

PagesJaunes in France segment: 6.4% growth in revenue

The revenue of the PagesJaunes in France segment is up 6.4% to 700.2 million euros over the first 9 months of 2005. In the third quarter 2005, the revenues of the PagesJaunes in France segment has increased on a comparable publication basis (2) by 5.4% to 262.4 million euros.

At September 30, 2005, PagesJaunes in France increased the number of new advertisers by 15.8% compared to the same date in 2004. The revenue from printed directories increased by 3.1% to 465.9 million euros over the first 9 months of 2005. Revenue from the PagesJaunes directory was up by 3.7% to 381.5 million euros and that for L'Annuaire by 0.6% to 84.4 million euros.

In the third quarter 2005, the revenue from the printed directories on a comparable publication basis (2) was up by 3.7% to 179.9 million euros. Revenue from the PagesJaunes directory recorded an increase of 4.4% to 149.7 million euros, and that of L'Annuaire by 0.3% to 30.2 million euros.

The revenue from the online services (Internet and Minitel 3611) has increased by 13.5% to 213.3 million euros over the first 9 months of 2005 with growth of 36.2% to 168.4 million euros in revenue from the Internet (pagesjaunes.fr and Internet websites) which more than compensated for the decline of 30.1% to 44.9 million euros in revenue from Minitel. Total revenues from online services over the first 9 months of 2005 represented more than 30% of the revenues from the PagesJaunes in France segment.

In the third quarter 2005, the revenue from the online services increased by 11.4% to 72.6 million euros. Internet revenue (pagesjaunes.fr and Sites Internet) grew by 31.9% to 57.9 million euros over the period, and that for Minitel showed a fall of 30.8% to 14.7 million euros.

The number of advertisers on pagesjaunes.fr increased by 11.4% in a year to 326 427 at September 30, 2005. The number of monthly visits on pagesjaunes.fr reached 50 million in September 2005(4), up by 37% compared to September 2004. With a monthly reach rate of 37% in September 2005 (5), pagesjaunes.fr now occupies 5th position in the ratings for the most visited Internet sites in France (5).

International & Subsidiaries segment: 7.3% revenue growth on a comparable consolidation (1) and publication (2) basis

The revenue from the International & Subsidiaries segment reached 76.7 million euros over the first 9 months of the year 2005 up by 7.3% on a comparable consolidation (1) and publication (2) basis. In the third quarter 2005, the revenue from the International & Subsidiaries segment stood at 31.4 million euros up by 8.1% on a comparable consolidation (1) and publication (2) basis. The revenue from QDQ Media increased by 12.7% to 30.1 million euros on a comparable consolidation (1) and publication (2) basis over the first 9 months of 2005. QDQ Media's revenue on online services (QDQ.com) recorded an increase of 81.1% to 4.4 million euros, while revenue from printed directories on a comparable publication (2) basis improved by 4.7%. Most of the sales made by the online services represented 14.5% of the revenue of QDQ Media over the first nine months of 2005.

Recent events

PagesJaunes Groupe is renouncing the mutual employee profit-sharing agreement of Groupe France Télécom. While maintaining the profit-sharing level paid to the employees of Groupe PagesJaunes, this decision should lead, from the full-year 2006, to a reduction of the total amount of the employee profit-sharing borne by PagesJaunes Groupe. Subject to the new employee profit-sharing agreement, to be implemented internally at PagesJaunes Groupe from the full-year 2006, the impact of the new employee profit-sharing calculation should lead to an improvement in the consolidated operating income of PagesJaunes Groupe.

Financial targets

PagesJaunes Groupe reaffirms and specifies its financial targets:

  • Consolidated revenue growth of 5.5 to 6.5% in 2005,

  • Growth in consolidated gross operating margin (3) in excess of 10% including telephone directory enquiry services in 2005,

  • Target of gross operating margin (3) at breakeven at QDQ Media by the end of 2006,

  • Maintained target of distributing entire net income from the group's operating activities in respect of full-year 2005.
    It should be noted that the dividend distribution target in no way constitutes a commitment on the part of PagesJaunes Groupe. Future dividends will depend on the Group's results, its financial situation and any other factor which the Board of Directors and the shareholders of PagesJaunes Groupe deem relevant.



Pages Jaunes Groupe

France Telecom SA

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