Thursday, July 3, 2008

SeLoger.com: 2008 Financial Outlook Revised

PARIS, July 3 /PRNewswire-FirstCall/ -- The current slowdown in the
French real estate market has prompted the SeLoger.com group to comment on
its financial outlook for the current year.

(Logo: http://www.newscom.com/cgi-bin/prnh/20080131/291759 )

Real estate agents are moving from paper advertising to internet
advertising, which is cheaper and more effective, at a slower than expected
rate. Contrary to expectations, the weaker performance of the real estate
market has resulted in a certain "wait-and-see" stance among clients,
particularly in the provinces, creating a slowdown in the rate of growth in
new clients. However, acceleration in the transferral of advertising
budgets for real estate developers (new build market) attests to the
effectiveness of online advertising.

The second quarter of 2008 confirmed the slowdown in new client wins.
So, the group is unlikely to achieve its target of nationwide market share
of 70% until after 2009. Expecting market conditions to remain
unfavourable, the company believes that it is in a position to achieve
revenues of EUR69m to EUR70m, an increase of 21% to 22% compared to 2007,
compared with its initial guidance of EUR73m. Consolidated EBITDA is
expected to reach EUR36m to EUR37m as opposed to EUR39m as initially
expected. This corresponds to EBITDA margin of 52.2% and 52.8%, an increase
of respectively 0.4 to 1 percentage point compared with 1.5 percentage
points announced previously.

In terms of competition, SeLoger.com is continuing to strengthen its
position as France's market leader in online real estate services. The
number of unique visitors to the group's websites reached a new record of
1.8 million in May 2008, with time spent of 23 minutes (source:
Mediametrie/Netratings). The group's five main competitors represented 46%
of its audience share.

The SeLoger.com group remains confident about the effectiveness of its
business model, the relevance of its range of products and services for
real estate professionals and its ability to continue with its strategy of
developing in the entire the real estate sector.



Forthcoming event:
First-half 2008 results: 30 July 2008 (after market close)

About SeLoger.com

The SeLoger.com group is France's leading online real estate player,
with websites and services aimed at internet users and real estate
professionals.

It has become France's benchmark online marketplace for real estate
classified ads with its two leading sites http://www.seloger.com and
http://www.immostreet.com.

The group gives internet users access to France's most extensive range
of classified real estate ads, with more than 1.9 million ads. It also
gives real estate professionals the largest platform in the market, with an
audience consisting of more than 1.8 million unique visitors (source:
Mediametrie//Netratings May 2008) and an exclusive distribution network.

SeLoger.com's business model is based on a range of services based
around online classified real estate ads. The company plans to maintain its
rapid growth strategy, which focuses on four main areas:



- continuing to win new estate agent customers, in both Paris
and the Regions;

- improving its range of products and services for real estate
professionals;

- introducing innovative new services for individuals planning
a real estate transaction;

- making selective acquisitions.

SeLoger.com has been listed on Euronext Paris (compartment B) since 30
November 2006 and is part of the following indexes: SBF 250, CAC SMALL 90,
CAT IT and Euronext 100.

ISIN code: FR0010294595

http://www.groupe-seloger.com



See Also:

[Via Real Estate Newswire]

Опубліковано prolink о 7:04 AM

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