Business News

GoYellow Media AG expands sales partnership with the publishers of the German Yellow Pages and sells its subsidiary GoLocal GmbH&Co. KG

Thursday 07. August 2008 - Subject to the approval of the German Cartel Office, GoYellow Media AG has sold all shares in its subsidiary GoLocal GmbH&Co.KG to GoLocal Holding GmbH & KG. The shares of the acquiring company are held by several directory publishers. The purchase price is EUR two million.

After the sale, GoYellow Media AG will be focusing on the national and international expansion of its PeterZahlt.de telephony service and will continue to operate its GoYellow.de online business directory. The sales cooperation with the Yellow Pages publishers that has been in existence since April 2007, has now been expanded considerably.

GoYellow Media AG recorded sales of EUR 4.4 million in the first six months of 2008 (H1/2007: EUR 5.9 million; Q2/2008: EUR 2.2 million). Earnings were negative at EUR -2.7 million (H1/2007: EUR -2.2 million; Q2/2008: EUR -1.7 million). Based on the expanded sales cooperation for GoYellow.de and new marketing offers for PeterZahlt.de, GoYellow Media AG expects both sales and earnings to improve significantly in the second half of the current financial year. Third-quarter 2008 sales are expected to total EUR 4.0 million.