I will be in Barcelona next week, at the [praized subtype=”small” pid=”d0cd79b106730bfb94dc00104bdb320c” type=”badge” dynamic=”true”] conference, to speak about “Blended Search”. The conference is happening at beautiful [praized subtype=”small” pid=”fe88067181f3c2b456ee063861fe1985″ type=”badge” dynamic=”true”] in the Marina district of Barcelona.
You can see the agenda here.
If you’re attending (I hope you are!) and would like to chat, send me an e-mail: seb AT praizedmedia.com
Photo from the hotel’s website
(…) 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. (…)
via Yell takes the pain – Investors Chronicle.
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)
The Kelsey Group blog reports on the various rumors surrounding Yell Group, the international directory publisher based in the UK. They mention an article in The Independent that states “the word is that the internet giant Google is favourite to buy the company”.
Kelsey adds “Such a deal has some logic to it. After all, Google clearly wants access to a massive local channel (Yell’s UK and USA businesses combined have almost 8,000 sales reps). It is unclear, however, what it would do with the print business, which represents about 90 percent of revenues, though online has been growing rapidly in the UK, and is beginning to take hold in the US. It is hard to see the cultures of Google and Yell meshing easily.”
What it means: although a Yell Group acquisition would give Google sales force and local search critical mass in the US, UK, and Spain, I seriously doubt Google would buy a directory publisher at this moment in time. Other than the YouTube purchase (which in my mind was the first large media acquisition by Google), they have focused on technology & brain power acquisitions. But I might be wrong!