Opera Software came with two press releases on Tuesday morning, one of which was about the divestment of the TELEVISION business to a us fund of 700 million.
In another message comes Opera with a negative profit warnings for its fiscal 2016.
Adjusted for the divestment of the TELEVISION business, Opera revenue in the year of between 540 and 570 million dollars (at 570 to 600 before). In addition, the estimated the a the adjusted operating result (adjusted EBITDA) of between 45 and 55 million dollars (60 to 70 with the TV operation).
Now predict the company that they will end up somewhat below this projection:
– The decrease of our expectations come as a result of lower results in our mobilannonseringsvirksomhet. As communicated during the presentation of the third quarter then ended is not our mobilannonseringsvirksomheten the third quarter, with the medvinden we saw in the last year. This trend has continued in the fourth quarter, writes the company.
Continued growth
Opera adds that the turnover within mobilannonsering still will grow by around 15 per cent in the year 2015.
Opera writes that it is both the lack of large and successful spillanseringer in the market and delays in the internal plattformoppgraderinger that contribute to that they’re missing vekstmålene.
During the main figures expect Opera a growth in brand advertising and profit revenue to fall by 10 to 20 per cent, while revenue from programmatic advertising is expected to rise by more than 30 per cent, compared with the fourth quarter of last year. Mobilannonsering is expected to fall by around 10 per cent, but adjusted for an extra-large demand last year, says the Opera that the development is approximately flat.
the Company writes that bruttomarginene is expected to be equal to or slightly higher than the third quarter.
When it comes to spillsegmentet, waiting not Opera any improvement until after the first quarter, but the company says that they are optimistic in the long term, based on the investments they make in products (in particular the new software package-SDK), and artificial intelligence.
Sell down in the TV-business
technology company, announces also that they have entered into an agreement with the u.s. teknologiinvesteringsfirmaet Moore Frères & Company to sell a majority stake in the company’s TV operations.
the Agreement values the TV business to the Opera to 114,3 million dollars, according to an announcement (994 million), but Opera gets paid 80 million dollars, equivalent to 700 million because they get caught with a minority share in the company (30 per cent preferred stock).
There is Aneesh Rajaram who is head of the Opera TV, and he was recently voted as the year ledertalent in E24s annual finals. Read more about Rajaram here.
According to the Opera triggers the divestment no taxation for the group. Opera should have already received the money from the american fund, and the income shall be used to pay out an extraordinary dividend to the shareholders after the annual general meeting in 2017.
the company’s TV business specializes in a web-based web-tv-solution that is used in everything from smart TVS to Blu-ray players and game consoles. On their list are well known companies such as Sony, Samsung, TiVo, Verizon and Sagemcom.
Moore Frères has an impressive technological and operational expertise that will help the Opera TV to expand the offer and to serve a wider range of customers the world over. Opera TV-the business has a significant potential to drive continued innovation and unleash the full potential of the connected TV, ” says Opera ceo Lars Boilesen in the message.
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