SoLocal Group, Q3 2018 Sales
As we feared, Solocal's order intake collapsed in the third quarter. In digital, they fell by nearly 20% year-on-year and by 31% quarter-on-quarter. Management states that the decline was anticipated and that it is only the temporary consequence of the disorganization resulting from the departure during the summer of 800 employees, half of whom are salesmen. As proof of this, the company confirms its guidance of a recurring EBITDA of 170 million euros for 2018. Nevertheless, this decline remains worrying.
Solocal Group SA is a France-based company, which is engaged in local online communication. The Company provides digital content, advertising solutions and transactional services that connect people with local businesses. Solocal Group SA operates in France, Spain, Austria and the United Kingdom and supports the online development of SMB and client accounts, mainly through its four flagship brands: PagesJaunes (engaged in local advertising and information on the Internet and in mobile and print media), Mappy (a portal of services relating to travel: maps, journey planners, local area information searches, before and during the journey), Ooreka (a database of content with practical guides, tutorials, among others, written by such specialists as notaries, lawyers, doctors, electricians and gardeners, among others.
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