Online advertising and interactive marketing company Antevenio closed 2009 with net earnings of 1.53 million euros ($2 million), compared to 2.9 million euros ($3.9 million) the previous year, a decrease of 46.9%, according to figures supplied by the company in a statement. Antevenio’s shares are listed on NYSE Alternext.
The fall in earnings was attributed to a 14.6% decline in sales, which were 17.5 million euros ($23.6 million), down from 20.5 million euros ($27.6 million) the year before. The figures do not include results for Shopall, which was acquired last December and whose consolidation began in January. In 2009, Shopall’s turnover amounted to 1.77 million euros ($2.35 million).
In its statement, Antevenio highlighted the strength of its financial situation and the robustness of its business model. Regarding its financial situation, the company has a cash flow of 6.8 million euros and no debt, putting it in a good position to further develop its diversification and international expansion plan. With respect to its business model, the statement notes that between 2008 and 2009, the company’s gross margin (the difference between revenues and direct costs) rose from 48% to 53%, with an operating margin of 13% in 2009.
Last year, in addition to its purchase of Shopall, Antevenio opened an office in Buenos Aires (through its acquisition of a majority stake in Argentina's Direct Latam) and recently opened another office in Paris.