Sedo Lowers Revenue Forecast
On October 23, 2013, Sedo issued a financial news release with information about the first nine months of the year and its forecast for the remainder of the year. The full release can be found and read on the DGAP website.
Posted below are three pieces of information disseminated in the news release that domain investors may wish to note. I recommend checking out the full release for all of the details since it’s more beneficial to read the entire update rather than just the three snippets I’ve called out below.
- “Sedo Holding AG achieved 5.5% growth in sales revenue to EUR 104.1 million in the first nine months of 2013.”
- “In the Domain Marketing segment, sales revenue totalling EUR 20.8 million was generated in the first nine months of 2013, representing a 13.3% year-on-year decline compared with the previous year’s EUR 24.0 million. This drop in the Domain Marketing segment reflects the domain parking market’s overall downtrend.”
- “Given the significantly-below-budget 5.5% revenue growth during the first nine months of 2013 and the worsening prospects for the fourth quarter of 2013 as a consequence of the structural changes in the way that partner programs in the major customer business in Affiliate Marketing are invoiced, the Company can no longer retain its existing revenue forecast.”
Make of it what you will, but I wanted to pass this news along to you. Just FYI, EUR 104.1 million is nearly $144 million USD based on today’s EUR to USD exchange rate.
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