(…) Paginas Amarillas, its Spanish classified directory, saw euro revenues slump by nearly 15 per cent as the number of unique advertisers fell, while overall Publicidad saw sales fall 9 per cent to €621m.
Revenues in the UK also took a hit, down 5.5 per cent to £692m, although Yell was successful in growing its internet business. Yell.com sales grew 18 per cent and now account for 24 per cent of total UK revenues. Cash flows were strong, too, helping the group meet scheduled debt and interest repayments, and management said it still has 15 per cent clearance on the tightest covenant on its £4.2bn debt pile. (…)
What it means: some data points to remember for purpose of peer comparison. Revenues in Spain at Paginas Amarillas down 15%, revenues in the UK down 5.5%. Online revenues at Yell.com grew 18% and now represent 24% of total Yell UK revenues.
Update: I was just reviewing the press release (.pdf) and found these other interesting data points:
- Revenue up 8.1% to £2,397.9 million
- Online revenue up 38% at constant exchange rates to 15% of total revenue
- 1.6 million customers
- “In the quarter ending 30 June 2009, we expect revenues at constant exchange rates to fall 11% and EBITDA to
fall by around 20%.”
- 25.9% increase in unique users in Yell.com
- Yellowbook’s online revenues were up a spectacular 97.5% to $227.3M
- Online revenues in Spain were up 13.4% to $50M (20% of total Spain revenues)