MyHammer Holding AG Implements New Business Model According to BAC Company Report15 May 2012 • by Natalie Aster
LONDON - Successful implementation of the business model of focusing on its core markets of Germany and Austria had brought its result:
Sales went down 10% last year to EUR 15.12 million, net profit fell to EUR (2.32) million (2010: EUR (1.61) million);
However, management expects further increase in profits by 2013.
During 2011, the company recorded revenues of EUR 15.12 million compared to EUR 17.09 million in the previous year. The dominant segment (German web-portal) generated EUR 14.1 million (previous year: EUR 15.6 million). The main reason for this decline in sales is the strategic realignment of the Group on the core German markets and the smaller contract awards in the UK. This decline was expected to lower revenues in the second half of 2011.
The parent company MyHammer Holding Limited focused on holding company activities and subsequently scored only advertisement sales of EUR 7 thousand (previous year: EUR 117 thousand).
Last quarter results reflect change in the customer base. Revenue was EUR 2.83 million, gross profit amounted EUR 1.99 million, operating income equaled EUR 0.07 million, and net income was only EUR 0.01 million. The decrease in revenues resulted primarily from lower revenues from the partner packages. Real private expenditures increased by 1% in 2012.
Founded in 2005 and headquartered in Berlin (Germany), MyHammer Holding AG runs job-seeking web-sites for private and commercial customers. MyHammer.de enjoys over 6 million visits a month and currently remains number one job-seeking portal. The search engine allows not only displaying of vacancies but also an opportunity to put a resume in the corresponding section and be enlisted for specified search. MyHammer Holding is registered on Frankfurt Stock Exchange under the ticker MYR.
More details on the company’s business and future opportunities, threats, financials and peers can be found in the report "MyHammer Holding AG Fundamental Company Report Including Financial, SWOT, Competitors and Industry Analysis" recently published by Market Publishers Ltd.
Title: MyHammer Holding AG Fundamental Company Report Including Financial, SWOT, Competitors and Industry Analysis
Date: May, 2012
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