June 2014 M&A and Investment Summary
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Investor Briefing
Q4 2019 AT&T EARNINGS Investor Briefing No. 307 | JANUARY 29, 2020 INVESTOR BRIEFING Q4 2019 AT&T EARNINGS Contents 3 Communications Mobility Entertainment Group Business Wireline 7 WarnerMedia Turner Home Box Office Warner Bros. 10 Latin America Mexico Vrio 11 Xandr 13 Financial and Operational Information 28 Discussion and Reconciliation of Non-GAAP Measures INVESTOR BRIEFING Q4 2019 AT&T EARNINGS Communications FINANCIAL HIGHLIGHTS Nj $36.5 billion, down 1.9% year over year due to declines in Entertainment Group and Business Revenues Wireline that were partially offset by gains in wireless service revenues Nj $29.0 billion, down 2.0% year over year, reflecting lower Entertainment Group and Business Operating Expenses Wireline expenses partially offset by increases in Mobility expenses Nj $7.5 billion, down 1.2% year over year; operating income margin of 20.6% compared to Operating Income 20.4% in the year-ago quarter MOBILITY Nj $18.7 billion, up 0.8% year over year due to an increase in service revenues offsetting declines in equipment revenues ■ Service revenues: $13.9 billion, up 1.8% year over year due to prepaid subscriber gains Revenues and postpaid phone ARPU growth ■ Equipment revenues: $4.8 billion, down 2.1% year over year with continued low postpaid phone upgrade rates Nj $13.2 billion, up 0.5% year over year due to higher bad debt, promotions and advertising Operating Expenses expenses partially offset by lower equipment costs and cost efficiencies Nj $5.5 billion, up 1.5% year over year; operating income margin of 29.4%, compared -
New Keystone Advisers Transaction: Acquisition of the Search Works & the Technology Works
2007-07-26 09:00 CEST New Keystone Advisers transaction: Acquisition of The Search Works & The Technology Works TradeDoubler AB (publ) today announced its acquisition on July 25th of all the issued shares in Interactive Marketing Works Ltd and its subsidiaries ('The IMW Group'). The purchase price amounts to £56 million and will be paid in cash and bank guaranteed loan notes. The IMW Group consists of two trading entities, 'The Search Works', a well established search engine marketing agency and 'The Technology Works', a technology provider for search engine marketing which is in an investment phase, whose products include 'BidBuddy®' - a search management technology. The Group was founded in 1999 and currently employs 108 staff. Turnover for the rolling twelve months preceding June 2007 amounted to GBP 69 million. The acquisition complements and expands TradeDoubler's existing performance-based product portfolio which includes affiliate marketing, online advertising campaigns, pay-per-call and an online tracking and ad- serving technology. The newly combined offering has great synergies for both TradeDoubler's and The IMW Group's client bases. TradeDoubler was advised by Keystone Advisers, Baker & McKenzie LLP and KPMG LLP. The IMW Group was advised by Ingenious Corporate Finance, Clarity Capital Partners Limited and Berwin Leighton Paisner LLP. Keystone Advisers is a fully independent Corporate Finance firm offering advice related to mergers and acquisitions (M&A), divestitures, as well as various financing arrangements. The firm has advised on approximately 140 transactions to a variety of different clients in a number of sectors since the inception in 2000. Keystone Advisers is a Partner owned firm and where the founders have experience from Investment Banking and Management Consulting from some of the largest global institutions. -
DENVER CAPITAL MATRIX Funding Sources for Entrepreneurs and Small Business
DENVER CAPITAL MATRIX Funding sources for entrepreneurs and small business. Introduction The Denver Office of Economic Development is pleased to release this fifth annual edition of the Denver Capital Matrix. This publication is designed as a tool to assist business owners and entrepreneurs with discovering the myriad of capital sources in and around the Mile High City. As a strategic initiative of the Denver Office of Economic Development’s JumpStart strategic plan, the Denver Capital Matrix provides a comprehensive directory of financing Definitions sources, from traditional bank lending, to venture capital firms, private Venture Capital – Venture capital is capital provided by investors to small businesses and start-up firms that demonstrate possible high- equity firms, angel investors, mezzanine sources and more. growth opportunities. Venture capital investments have a potential for considerable loss or profit and are generally designated for new and Small businesses provide the greatest opportunity for job creation speculative enterprises that seek to generate a return through a potential today. Yet, a lack of needed financing often prevents businesses from initial public offering or sale of the company. implementing expansion plans and adding payroll. Through this updated resource, we’re striving to help connect businesses to start-up Angel Investor – An angel investor is a high net worth individual active in and expansion capital so that they can thrive in Denver. venture financing, typically participating at an early stage of growth. Private Equity – Private equity is an individual or consortium of investors and funds that make investments directly into private companies or initiate buyouts of public companies. Private equity is ownership in private companies that is not listed or traded on public exchanges. -
Venture Capital & Private Equity Canadian Market Overview
VC & PE CANADIAN MARKET OVERVIEW // 2017 CONTENTS PARTICIPATING DATA CONTRIBUTORS ............................................................................... 3 PRIVATE EQUITY CANADIAN MARKET OVERVIEW ...................................................... 17 PRIVATE EQUITY HIGHLIGHTS .................................................................................................................................... 18 FOREWORD ......................................................................................................................................4 PRIVATE EQUITY HEAT MAP // BUYOUT & ADD-ON DEALS ONLY ............................................... 19 VENTURE CAPITAL CANADIAN MARKET OVERVIEW .................................................... 5 PRIVATE EQUITY HEAT MAP // ALL PE DEALS ............................................................................................. 20 VENTURE CAPITAL HIGHLIGHTS ................................................................................................................................ 6 QUARTER-OVER-QUARTER PE INVESTMENT ACTIVITY ....................................................................... 21 VENTURE CAPITAL HEAT MAP ..................................................................................................................................... 7 TOP DISCLOSED CANADIAN PE DEALS OVER $500M ............................................................................ 22 QUARTER-OVER-QUARTER VC INVESTMENT ACTIVITY ........................................................................ -
Interim Report January-September 2020
Interim Report January-September 2020 2 INTERIM REPORT | JANUARY – SEPTEMBER 2020 TABLE OF CONTENTS Summary 3 Financial Overview 4 CEO Comments 5 Tradedoubler – Connect and Grow 6 The Group’s Results 7 Operational Segments 9 Miscellaneous 13 Financial Reporting 16 Key Ratios 23 Definitions 24 3 INTERIM REPORT | JANUARY – SEPTEMBER 2020 SUMMARY The third quarter July - September 2020 Net sales amounted to SEK 285 M (280) an increase of 2% or 5% adjusted for changes in exchange rates compared to the same period last year. Gross profit was SEK 59 M (62), a decrease of -4% and -1% adjusted for changes in exchange rates. Gross margin was 20.7% (22.0). Operating costs excluding depreciation and change related items were SEK 42M (48), a decrease of -14% or -10% adjusted for changes in exchange rates. EBITDA amounted to SEK 16 M (12). Adjusted for change related items, EBITDA was SEK 17 M (13). Capitalised expenses for product development were SEK 6 M (5). Cash flow from operating activities was SEK 15 M (-37) and the sum of cash and interest- bearing financial assets was SEK 56 M (25) at the end of the third quarter. Net cash in the third quarter increased by SEK 6 M to SEK -74 M. Earnings per share, before and after dilution were SEK -0.07 (-0.14). The tax authorities in the United Kingdom and Sweden have during the third quarter 2020 reached a mutual agreement on the double taxation procedure which is described in the 2019 annual report on page 28. The result of the agreement is that the tax adjustment is divided between the two jurisdictions in an equal proportion. -
Tradedoubler Interim Report January – September 2017
Tradedoubler interim report January – September 2017 Improved development 2 (18) | Interim report January – September 2017 Improved development THE THIRD QUARTER JULY – SEPTEMBER 2017 Net sales amounted to SEK 258 M (304). Net sales adjusted for change related items were SEK 258 M (302), which was a decrease of 15%. Gross profit adjusted for change related items was SEK 60 M (68), a decrease of 11% or 10% adjusted for changes in exchange rates. Gross margin adjusted for change related items was 23.4% (22.4). Operating costs excluding depreciation and change related items were SEK 54 M (63), a decrease of 15%. EBITDA amounted to SEK 10 M (4). Adjusted for change related items, EBITDA was SEK 7 M (4). Capitalised expenses for product development were SEK 5 M (9). Cash flow from operating activities was SEK -29 M (5) and the sum of cash and interest-bearing financial assets was SEK 61 M (224) at the end of the third quarter. Net cash in the third quarter decreased by SEK 37 M to SEK -72 M. Earnings per share, before and after dilution were SEK 0.00 (-0.15). In July Tradedoubler acquired the Swedish technology company Metapic. THE INTERIM PERIOD JANUARY – SEPTEMBER 2017 Net sales amounted to SEK 878 M (998). Net sales excluding change related items were SEK 878 M (996), which was a decrease of 12%. Gross profit excluding change related items was SEK 195 M (219), a decrease of 11% or 12% adjusted for changes in exchange rates. Gross margin excluding change related items was 22.2% (22.0). -
2019 At&T Earnings
2019 AT&T EARNINGS Investor Briefing No. 306 | OCTOBER 28, 2019 INVESTOR BRIEFING Q3 2019 AT&T EARNINGS Contents 3 Communications Mobility Entertainment Group Business Wireline 7 WarnerMedia Turner Home Box Office Warner Bros. 10 Latin America Mexico Vrio 11 Xandr 13 Financial and Operational Information 28 Discussion and Reconciliation of Non-GAAP Measures INVESTOR BRIEFING Q3 2019 AT&T EARNINGS Communications FINANCIAL HIGHLIGHTS (Puerto Rico and U.S. Virgin Islands wireless and business wireline operations, which are pending divestiture, are reported within Corporate & Other instead of the Mobility and Business Wireline business units. Prior quarters have been recast.) Nj $35.4 billion, down 1.7% year over year due to declines in Entertainment Group and Business Revenues Wireline that were partially offset by gains in wireless service revenues Nj $27.4 billion, down 1.8% year over year reflecting lower Entertainment Group and Mobility Operating Expenses expenses partially offset by increases in Business Wireline Nj $8.0 billion, down 1.4% year over year; operating income margin of 22.7% compared to Operating Income 22.6% in the year-ago quarter MOBILITY Nj $17.7 billion, down slightly year over year due to declines in equipment revenues which were mostly offset by an increase in service revenues ■ Service revenues: $13.9 billion, up 0.7% year over year due to postpaid phone ARPU Revenues growth and prepaid subscriber gains ■ Equipment revenues: $3.8 billion, down 3.5% year over year with continued low postpaid phone upgrade rates Nj $12.0 -
Tradedoubler Finalises Its Nordic Regional Structure
Tradedoubler finalises its Nordic regional structure Tradedoubler has announced the final step in the establishment of a regional structure in the Nordics. It is closing the office in Oslo and large Norwegian clients will be managed by the team of performance marketing specialists in Stockholm. Kristoffer Klockare will continue in his role as Regional Director for the Nordic region. Speaking about the announcement, Matthias Stadelmeyer, CEO said, “The establishment of regional structures within our European operation enables us to ensure that we deliver consistently high levels of performance marketing expertise to all our clients. Most of our Nordic clients operate across the region and this structure enables us to offer them a single point of contact for all their activity.” The costs associated with the office closure are not significant. The number of employees in Oslo amounts to 7 people. Stockholm, January 23, 2015 TradeDoubler AB (publ.) The information in this announcement is required to be disclosed by TradeDoubler AB under the Swedish Securities Markets Act (Sw. lagen om värdepappersmarknaden). This information was released for publication at 10.45 CET on January 23, 2015. For further information, please contact: Matthias Stadelmeyer, CEO Tradedoubler Phone: +46 8 405 08 00 Email: [email protected] About Tradedoubler Tradedoubler is an international leader in performance-based digital marketing and technology. Founded in Sweden in 1999, Tradedoubler pioneered affiliate marketing in Europe and remains one of the most successful pan-European performance marketing company, combining strategic international insight with detailed in-country expertise. It helps 2,000 advertisers achieve their business goals through its high quality network of 140,000 publishers and was the first to offer an integrated e- and m-commerce offering to help advertisers extend their online programmes to users on mobile devices. -
Regulation of Investment Advisers by the U.S. Securities and Exchange Commission
. Regulation of Investment Advisers by the U.S. Securities and Exchange Commission Robert E. Plaze Partner June 2018 -i- TABLE OF CONTENTS Page I. Introduction ..............................................................................................................................1 II. Who is an Investment Adviser? ................................................................................................2 A. Definition of Investment Adviser .....................................................................................2 1. Compensation ............................................................................................................2 2. Engaged in the Business ............................................................................................3 3. Advising about Securities ..........................................................................................3 4. Advising Other Persons .............................................................................................5 B. Exclusions from Definition ...............................................................................................6 1. Banks and Bank Holding Companies ........................................................................6 2. Lawyers, Accountants, Engineers, and Teachers ......................................................7 3. Brokers and Dealers ..................................................................................................7 4. Publishers ................................................................................................................10 -
Vc & Pe Canadian Market Overview
VC & PE CANADIAN MARKET OVERVIEW // YTD Q3 2017 CONTENTS PARTICIPATING DATA CONTRIBUTORS ............................................................................... 3 PRIVATE EQUITY CANADIAN MARKET OVERVIEW ...................................................... 17 PRIVATE EQUITY HIGHLIGHTS .................................................................................................................................... 18 FOREWORD ......................................................................................................................................4 PRIVATE EQUITY HEAT MAP // BUYOUT & ADD-ON DEALS ONLY ............................................... 19 VENTURE CAPITAL CANADIAN MARKET OVERVIEW .................................................... 5 PRIVATE EQUITY HEAT MAP // ALL PE DEALS ............................................................................................. 20 VENTURE CAPITAL HIGHLIGHTS ................................................................................................................................ 6 QUARTER-OVER-QUARTER PE INVESTMENT ACTIVITY ....................................................................... 21 VENTURE CAPITAL HEAT MAP ..................................................................................................................................... 7 TOP DISCLOSED CANADIAN PE DEALS............................................................................................................... 22 QUARTER-OVER-QUARTER VC INVESTMENT ACTIVITY ........................................................................ -
AT&T Announces Xandr
Publication date: 18 Oct 2018 Author: Jack Kent Director, Media and Advertising AT&T announces Xandr Brought to you by Informa Tech AT&T announces Xandr 1 AT&T has unveiled its advertising and analytics business Xandr. Named after AT&T founder Alexander Graham Bell, Xandr will house all of the telco giant’s data-led offerings, including addressable advertising service AT&T AdWorks, analytics business ATT.net and ad-tech unit AppNexus. Xandr is rebrand of AT&T’s AdCo unit, which was a temporary business until AT&T’s advertising plan had solidified. Revenue for the advertising business (AdCo) grew 16% year-on-year to $1.8 billion in Q2 2018. The announcement follows in the aftermath of its approved Warner Media acquisition. Our analysis AT&T is settling into a strong position in the ad market as it seeks to challenge the Google-Facebook duopoly for market share. In the aftermath of its landmark acquisition of Warner Media, the group now has three key components in place; access and distribution through AT&T, premium content through Warner Media created by the likes of HBO and CNN and ad monetization through AppNexus. On the back of AppNexus acquisition, AT&T has now decided it is an appropriate time to rebrand its AdCo advertising company, and build its brand in the ad ecosystem. The business aims to provide targeted advertisements across multiple platforms and bolster average ad prices by leveraging the enlarged group’s enhanced customer data. Where Xandr differs is in its apparent rejection of the walled garden mentality common amongst its new rivals. -
Payments Insight
PAYMENTS Insight. Opinion. VOL 11 CONTENT A REPORT FROM LAS VEGAs – REVIEW OF MONEY 20/20 1 A REPORT FROM LAS VEGAs – REVIEW OF MONEY 20/20 Andreas Habersetzer reviews this year's Money 20/20 conference. ANDREAS HABERSETZER note, demonstrating the progress made with Cur- Partner rentC during the initial trial period in Salt Lake City. 3 EXTENDED PAYMENT FACTORIES – CurrentC supports multiple payment technologies, THE POTENTIal CONVERGENCE OF DIGITal Attendees ranging from QR codes to BLE and NFC, depending PAYMENTS AND TRANSACTION BANKING Alongside 10,000 other people I made the way to Las on the use case of the merchant (in-store, at the The article considers some of the key transaction banking Vegas at the end of October to this year’s Money pump or drive-through etc.) and achieved a seam- infrastructures and the implications and opportunities of 20/20 conference. The current size of this annual less integration of the multiple loyalty programmes the growing relevance of digital payments from a corporate event underlines the current level of interest by the of MCX’s merchant members which represent treasury perspective. general public, the media, investors and industry annual revenue of over USD 1 trillion. The combina- insiders in fintech, payments and general innovation tion of payments and loyalty in one transaction, with 5 MERCHANT ACCEPTANCE: THE DIS- in financial services. By now, every major bank has set loyalty programes that already matter to the user COUNTER EFFECT FOR CREDIT CARDS up internal teams with the goal to manage the trans- today, could be a real differentiator for CurrentC.