TWT 2Waytraffic

RNS Number:8082A
2waytraffic N.V.
25 July 2007


 

25 July 2007

                                                                                

                  2waytraffic ("2waytraffic" or the "Company")                  
                            Pre-close trading update                            

 

2waytraffic, the AIM listed interactive entertainment content provider, today
issued the following pre-close period trading update for the six months to 30
June 2007.


During the first half of the financial year 2waytraffic has achieved several
significant milestones in the continued roll out of the strategy set out at the
time of the Company's IPO in April 2006. Overall trading remains in line with
the Board's expectations and in line with comments made at the time of the AGM
in May.


The focus in the first half of 2007 was to integrate the acquisitions we made in
2006 and to restructure the Company, in particular, following the
transformational acquisition of "Who Wants To Be A Millionaire?" (WWBTAM) in
December 2006. Excellent progress has been made with both of these projects and
we have already begun to see the benefits of the new efficient structure in the
Enlarged Group.
 

Highlights for the first half include:

 
   
  * The successful integration and re-branding of Celador International into
    "2waytraffic International", launched at MIPTV in April 2007;
  * The successful integration of Emexus and 2waytraffic's historic mobile
    content division into a new company called 2waytraffic Mobile, which has
    operating companies in the USA, EMEA and Asia Pacific;
  * Establishment of a UK operating company, 2waytraffic UK.
  * New format launches, including "The Ring" and "Holiday Fever", receiving
    positive early interest from multiple broadcasters and which have been
    optioned in Germany and Denmark respectively. "Last One Standing" has been
    sold in Turkey and Greece and optioned in a number of different territories;
  * "Who Wants To Be A Millionaire?" (WWTBAM) is performing as expected and
    has secured a new deal in China and re-launched in the USA, India, Serbia,
    Slovenia and Slovakia;
  * Promising outlook for WWTBAM spin off formats and early pilots of
    increased in-programme branded interactivity;
  * 2waytraffic Benelux secured new format deals, including "Search for the
    next Videomodel" for Dutch broadcaster Veronica;
  * In Belgium a permit to perform participation TV activities was granted to
    2waytraffic's programmes; and
  * Continued strong trading in 2waytraffic Mobile in USA, growth in EMEA and
    Asia Pacific region.

 

 

 

Corporate Governance

 

The Board is seeking to appoint two independent non executive directors before
the end of the financial year to 31 December 2007.

 

Current trading

 

Current trading is in line with the Board's expectations and, while being
conscious of the second half weighting of the business, the board remains
confident of a successful outcome for the year to 31 December 2007.

 

The composition of revenues is different than forecast, due to the later than
expected commencement and contribution to revenues of certain contracts and the
previously identified shortfall in Benelux participation TV revenues. This has
been offset by the good performance across other divisions with existing
businesses performing well and achieving new contract wins. The Directors are
pleased that the benefits of the increased scale of the Company and the
Company's increasingly diverse revenue streams, in terms of both operations and
geography, are now starting to come through.

 

Commenting on today's trading update, Kees Abrahams, Chief Executive Officer
said: "During the first half of 2007 the Board's focus has been on successfully
integrating the acquired businesses. Good progress has been made, enabling us to
concentrate on the further roll out of our strategy. Looking forward, we remain
focused on our strategy of growing through a combination of expanding our
intellectual property catalogue, our geographic reach and our talent pool as
well as through selective acquisitions. Overall we are looking to further
enhance 2waytraffic's position as a global leader in convergent entertainment
content."

 

Enquiries:

 
2waytraffic                                                                                          
Jonni Abbenhuis/ Kees Abrahams         +31 (0) 35 750 80 00 
                 
Investec Investment Banking                                                                                 
Andrew Craig / Ben Poynter             +44 (0) 20 7597 5117   
               
Financial Dynamics                                                                            
Charles Palmer / Nicola Biles          +44 (0) 20 7831 3113                  
                                                                             
                                                                             
                                                                             





                                                                                



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