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InternetQ aiming for mobile ads growth (INTQ)     

cielo - 01 Feb 2011 13:29

Came to market on 10 December 2010 with the issue of 5,641,025 placing shares @ 120p to raise gross proceeds of 6.8 million.

Type of business
InternetQ is behind a proprietary technology platform that provides mobile marketing tools to its clients, namely network operators, media companies and brands. It is currently connected with 55 mobile network operators in 24 different countries, reaching over 573 million mobile subscribers. The group also provides digital content directly to mobile subscribers through its Akazoo platform, offering its members premium content within a social network environment and allowing them to interact and get rewarded for their loyalty and usage.

Company Profile
Internetq is an AIM listed trusted global leader in mobile marketing and digital entertainment solutions reaching more than 570 million subscribers via 55 mobile operators in 23 countries. By empowering brands to engage with consumers and transforming the way consumers interact with digital content, aiming for markets and opportunity and to exciting entertainment experiences. Their technology platforms support some of todays most recognized brands and enterprises, with innovative solutions to help manage interactive communications and push the frontiers in global mobile entertainment. With offices in Athens, Limassol, Istanbul, and Warsaw, we are growing the global footprint with the aim of becoming the leading source of mobile engagement.

Company balance sheet
InternetQ is currently cash flow positive and in the first half of 2010 generated Ebitda of 2.6m, from revenues of 18m. Since 30 June 2010, the group has continued to trade profitably, generating revenues of approximately 12.6m for the four months to 31 October 2010.

What the company will do with the cash raised
The proceeds of todays fundraising will be used to expand its network technology equipment and enhance Mobi Dialogue, its mobile marketing interactive platform. Cash has also been earmarked to further develop Akazoo, the online entertainment content platform, as well as set up new offices in key markets that require a more permanent presence.

Business relations
InternetQs long-term business relations include telecommunications operators, media companies and brands around the world, including Vodafone, Orange, Vimpel, Turkcell, Oi, Wind, COSMOTE, and MTV Network. The proceeds of todays fundraising will be used to expand its network technology equipment and enhance Mobi Dialogue, its mobile marketing interactive platform. Cash has also been earmarked to further develop Akazoo, the online entertainment content platform, as well as set up new offices in key markets that require a more permanent presence.

The admission to AIM gives it a market capitalisation of around 31m. The 6.8m placing was conducted by both the company and Jendens Securities, its broker, with Grant Thornton appointed nominated adviser. Based in Greece,Konstantinos Korletis, is the group chief executive

Profit forecast
Las Year InternetQ made pretax profits of 260.000 on revenues of 16.4M. Jendes Forecast profits will rise to 3.1M next year

Chart.aspx?Provider=EODIntra&Code=INTQ&S       Chart.aspx?Provider=Intra&Code=INTQ&Size Number of people who have visited this thread Statistics Counter

machoman - 04 Oct 2011 10:10 - 2 of 23

Very good results 3 weeks ago, but has been moving lower with the market .......

12/09/2011 - RESULTS FOR THE six months ended 30 June 2011.

InternetQ, one of the leading providers of mobile marketing and digital entertainment solutions for mobile network operators and brands, is pleased to report interim results for the six months ended 30 June 2011.

Financial Highlights
Revenue : 21.8 million (18.8 million in H1-2010)

EBITDA : 2.9 million (2.6 million in H1-2010)

Operating profit : 1.6 million (1.7 million)

Profit after tax: 1.4 million (1 million in H1-2010)

Earnings per share: 0.05

Operational Highlights
Continuous revenue growth for mobile marketing by 23% to 18.4 million

Penetration of new territories in Asia and Africa

Acquisition of i-POP, which gives the Company a leading position in Southeast Asia

62% growth to 450K AKAZOO subscribers during this first half 2011

Konstantinos Korletis, Chief Executive Officer of InternetQ commented:

"InternetQ has continued to grow uninterrupted and remains confident of its strategy to tap into new high growth markets of Asia, CIS and Africa, despite persistent unrest across global markets and the economic turmoil that grows strongly in Europe and the US. At the same time, we have fortified our position by raising more cash, which is proving increasingly valuable during this period of high volatility for the capital markets.

We expect to continue growing strong during this second half, particularly in Turkey, Russia and Southeast Asia, where we most recently acquired i-POP, a leading mobile marketer and aggregator based in Singapore. Expanding our footprint further, attracting new talent and keeping abreast with technology developments remain at the center of our efforts."

machoman - 04 Oct 2011 10:16 - 3 of 23

well marked down lately is oversold by the way is growing, solid interim results

There is some interest at this prices 133 / 134p and should bounce from here

moneyam chart not up to standard as usual so another

machoman - 04 Oct 2011 10:33 - 4 of 23

26 September 2011 | 12:06pm

First Columbus initiates buy on InternetQ, target price 306p

machoman - 05 Oct 2011 10:14 - 5 of 23

INTQ share price was +5.5p at 140.5p

InternetQ successfully settles breach of contract dispute

InternetQ has successfully settled a breach of contract dispute with f MIT Group subsidiary, EL2.

InternetQ Poland filed a claim against EL2 for breach of contract in January 2010 with subsequent counter claims filed by EL2 and MIT Group against InternetQ Poland.

The settlement reached provides that all claims of either side are withdrawn with InternetQ, through its subsidiary in Poland, receiving PLN6.7m, inclusive of VAT.

machoman - 06 Oct 2011 23:10 - 6 of 23

Large volume late today after a large trade 693K @ 140.50p ( middle price ) sounds like overhang being cleared

Institutions like to buy at middle price


machoman - 07 Oct 2011 09:56 - 7 of 23

146p +5.50p

Anyy small buy is moving the price higher, certainly yesterday's large trade was the overhang being cleared

machoman - 07 Oct 2011 14:09 - 8 of 23

164.50p +24.50p

and still rising

useless moneyam charts once again

machoman - 27 Oct 2011 10:52 - 9 of 23

on the way up after the Euro accord yesterday, company is base on Greece

js8106455 - 29 May 2012 17:22 - 10 of 23

Hey guys,

I came across this audio interview with Konstantinos Korletis the Chief Executive Officer of InternetQ.

Its really worth a click, just wanted to share it with you:

magicjoe - 11 Jan 2013 09:29 - 11 of 23

InternetQ Plc to showcase at the London Innovators and Investors Forum

InternetQ Plc (INTQ) (LON:INTQ) the London listed mobile, social & APP-based service provider will showcase their company at the Shares Magazine/Cenkos Innovators and Investors Forum in London on 29th January 2013. The event is a new one day conference and expo showcasing up to 30 leading technology companies in front of an invited audience of institutional and private investors. Companies present include: 1Spatial, Avanti Communications, Bango, Bond International Software Group, Brady, CML Microsystems, Corac, Cyan Holdings, eg Solutions, Energetix Group, eServGlobal, Forbidden Technologies, FusionIP, Globo, incadea, InternetQ, IQE, KBC Advanced Technologies, Netcall, Plastics Capital, Probability, Quindell Portfolio, StatPro Group, WANdisco.

At 9:11am: (LON:INTQ) share price was +5p at 185p

Bullshare - 11 Jan 2013 10:12 - 12 of 23

InternetQ to showcase at the London Innovators and Investors Forum

It is our pleasure to invite you to attend the forthcoming Innovators & Investors Forum on the 29th January 2013 at the Business Design Centre, London. This will be an exclusive invitation only event organised by Shares Magazine and Cenkos Securities.

As an active private investor, we are sure you would appreciate this unique opportunity to receive privileged access to 30 diverse, forward thinking and energetic technology companies at a single event.

Many of the exhibiting companies are currently involved in some very exciting projects in an effort to drive future growth, and development within their industries.

The event will be supported with an extensive conference program, including keynote speakers and company presentations.

We sincerely hope you are able to attend and that you find the experience both profitable and enlightening. Companies represented include:

Avanti Communications
Bond International Software Group
CML Microsystems
Cyan Holdings
eg Solutions
Energetix Group
Forbidden Technologies
Fusion IP
KBC Advanced Technologies
Optimal Payments
Plastics Capital
Quindell Portfolio
StatPro Group

Event time: 12.30pm to 5.30pm

Complimentary refreshments and luncheon provided

To register for this event please click here

(To be updated once presentation speakers are confirmed)

12:30 Registration & Lunch

14:00 Keynote speaker - Richard Penny, Senior Fund Manager - Legal and General

14:15 Shares Magazine presentation - Russ Mould, Editorial Director

14:30 Company presentation - David Richards, President & CEO - WANdisco

14:45 Company presentation - Henrik Bang, CEO - Netcall

15:00 Company presentation - Marcus Hanke, CEO - 1Spatial

15:15 Company presentation - tbc

15:30 Coffee Break

16:00 Company presentation - Stephen Blundell, CFO - eServGlobal

16:15 Company presentation - David Baynes, CEO - Fusion IP

16:30 Company presentation - Stephen Streater, CEO - Forbidden Technologies

16:45 Company presentation - Charles Cohen, CEO - Probability

17:00 Company presentation - Simon Smith, Non-Executive Director - Cyan Holdings

17:15 Close

This agenda is subject to change and alterations

For further information, please visit our events page

js8106455 - 19 Jul 2013 13:08 - 13 of 23

Listen - Internetq - Completion of acquisition


Bullshare - 17 Dec 2013 17:04 - 14 of 23

Organised in partnership with Cenkos Securities and Shares magazine, the second Innovators & Investors Forum will take place on 4th February 2014 at the Business Design Centre, London N1.

The event aims to showcase up to 40 leading innovative and imaginative technology-led firms and to bring them together with the investment community. It combines both a company expo and an educational conference where delegates learn about a range of investment opportunities.


Why attend?

This event gives you a platform to meet under one roof up to 40 technology-led companies, hear their messages during presentation seminars and engage in discussions with them on their stands.

The event is supported with an extensive conference program, including keynote speakers and company presentations.

Companies already confirmed for the 4th February 2014 include:

Avanti Communications Group
Bond International Software
CML Microsystems
Enables IT
Forbidden Technologies
KBC Advanced Technologies
Optimal Payments
Transense Technologies


10:45 Private Investors’ registration and coffee

11:40 Company presentation - InternetQ

11:55 Company presentation - Earthport

12:10 Company presentation - To be confirmed

12:25 Company presentation - To be confirmed

12:40 Lunch

14:00 Keynote address - Richard Penny, Senior Fund Manager - Legal & General

14:15 Russ Mould, Editor, Shares Magazine

14:30 Company presentation - To be confirmed

14:45 Company presentation - Optimal Payments

15:00 Company presentation - To be confirmed

15:15 Company presentation - CML Microsystems

15:30 Company presentation - KBC Advanced Technologies

15:45 Coffee

16:15 Company presentation - StatPro

16:30 Company presentation - To be confirmed

16:45 Company presentation - To be confirmed

17:00 Company presentation - Escher

17:15 Company presentation - To be confirmed

17:30 Close

This agenda is subject to change and alterations. More companies to be announced soon.


The exhibition will be open from 10:45 to 17:30.

Coffee / lunch will be served within the exhibition.

This agenda is subject to change and alterations. More companies to be announced soon.


The exhibition will be open from 10:45 to 17:30.

Coffee / lunch will be served within the exhibition.

Dress code: business attire

Business Design Centre
52 Upper Street
London N1 0QH

Access map:

Closest tube station: Angel (3 min. walk) - Northern Line


Cenkos Securities is an independent specialist securities firm focused on UK small and mid-cap companies.
We aim to be entrepreneurial, whilst seeking to establish long-term relationships with corporate and institutional clients.
Our directors and partners have on average more than 25 years' experience in the UK securities market. They have pioneered and led some of the most successful and innovative transactions in the UK securities market over the last decades.


Shortie - 14 Jan 2014 09:57 - 15 of 23


kayha - 05 Feb 2014 11:20 - 16 of 23

WATCH: Colin Miles, VP Marketing & CD at internetQ, provides an update at Innovators & Investors, London

Click here to watch

robstuff - 08 Apr 2014 08:12 - 17 of 23

Impressive figures On the face of it, but look closely they seem to be capitalizing costs which increase yr on yr so I'm wary

robstuff - 08 Apr 2014 18:58 - 18 of 23

Makes for cautious reading:

Paul Scott

A reader asked me to take a look at the next set of results from this company, and I have to say the figures look awful to me. Greek companies do seem to like creative accounting. In Globo's case that means profits that never turn into cashflow, but instead just pile up on the Balance Sheet in Debtors. In the case of InternetQ, they just capitalise everything that moves! As such the profit figure is effectively fantasy in my view. Consider this - for 2013 InternetQ reports EBITDA of E14.4m. However, it has capitalised E13.8m of costs into intangible assets. So reversing out the capitalised costs, in cash terms it was barely above breakeven, at only E0.6m! Of that E13.8m of capitalised intangible costs, E6.6m was purchased software (which could be considered alright, depending on who it was purchased from - i.e. not a connected party), and the balance of E7.2m was internal costs. So this means that the way I view it (expensing all intangibles as a cash cost), the company is not generating anywhere near as much profit as it is reporting. Debtors are large, at E36.4m (that is Debtors + Prepayments), but not outrageously large given turnover of E104.4m, which I make just over 4 months debtor days. A bit stretched, but not horrendously so. The market cap at about £150m (at 395p per share) looks aggressive to me, matching the accounting presentation, so it's not something I would invest in.


where the - is type s t o c k o p e d i a

And from another intelligent poster on another board:

Forgive me if this sounds like i'm teaching you to suck eggs but it might help you when you see your accounting friend.

The P&L

Revenue €104.4
operating profit €9.13m

This is after deducting cost of sales, selling and distribution costs and administration costs. Somewhere in this costs base is the amortisation of the intangible assets.

When you design the software you can either.
write the whole labour costs off immediately which means it comes off the operating profit.
capitalise the labour cost and add it to the balance sheet. Then annually deducting from the P&L the amortised value. This amortisation takes place annualy over the time period that the software is useful, say ten years.

So lets say the cost to produce the software is €10m then either that comes straight off the operating profit or it's capitalised and added to the balance sheet intangibles and amortised over 10 years. So, only €1m comes off the P&L each year, for ten years.

As you can see doing the latter makes the P&L look very good and eps looks great too.

If you do the former then in the first year your profits are zilch but in subsequent years if you don't develop any further software your profits are exceptional.

The latter is what INTQ have been doing.

So where are the figures in the balance sheet and cashflow statement that help
to understand this.

balance sheet - look at the difference between the goodwill and intangibles for 2012 and 2013, there's a massive increase in both. Some due to the acquisition and some due to the capitalising of the software labour cost. First red flag!

cashflow statement - look at the profit €9m now look at the depreciation and amortisation €5m, this is added back amongst other items to indicate the net cash before changes in working capital of €16.2m

Next look at the working capital changes and note further down that the net cashflow from operations is €13.2m

This looks great €9m of profit but €13m of cash generated.

a little lower acquisition costs €10.7m

Now the red flag.

A bit further down the casflow statement, capital expenditure for intangible assets €13.6m This is cash which has left the business but has been capitalised and placed on the balance sheet.

you will also notice lower down on the Cashflow statement that they raised proceeds from issue of share capital €11.1m and proceeds from long and short term borrowings roughly €7m.

so roughly
cash raised from operations €13m
software development capitalised €13 negative (so effectively no profit)
share capital raised €11.1m
net borrowing €6m (they paid €842K back, see cashflow statement)
acquisition €10.7m negative

Cash at start of year €8.7m
Cash at end of year €12.7m

The figures don't exactly balance as there are a few other itmes, like finance costs etc on the cashflow statement but these are the main items which demonstrate that the only cash being generated is from issue of equity and bank borrowing.

Bullshare - 11 Sep 2014 17:12 - 19 of 23

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goldfinger - 22 Jan 2015 12:04 - 21 of 23

InternetQ looks like a bargain
By Lee Wild | Wed, 21st January 2015 - 12:43 iii

InternetQ looks like a bargain. InternetQ (INTQ) rocketed as much as 10% Wednesday after the owner of mobile marketing platform Minimob and music streaming service Akazoo revealed a surge in fourth-quarter revenue. Margins improved in the second half of the year, too, and broker Canaccord Genuity has upgraded earnings per share estimates both for 2014 and the current year by 5%.
A boom in demand for mobile marketing had revenue up almost 27% in the final three months of last year to €130 million, and with margins also improving, InternetQ made an adjusted cash profit of more than €22 million and adjusted profit after tax of €14 million. It ended the year with €12 million of cash on the balance sheet, or about €1 million net cash.

B2B, or mobile marketing, made up 79% of sales and is in hot demand. Global ad spend is tipped to increase by 5% this year to $545 billion, driven largely by mobile. InternetQ's Minimob platform now has over 400 million installations and is fully integrated into 138 advertising networks/demand-side platforms. That helps it monetise its digital advertising inventory.
InternetQ has been pumping money into music streaming service Akazoo, too, and it's had success here, too. It reports "good results" from its offering with MTN and has launched lots of new partnerships in Asia. It still plans to launch Akazoo in another western European market and announce new strategic partnership deals in the Asian market by the end of the first quarter of 2015.

"The remarkable take-up of Minimob provides a significant competitive advantage, while management remains confident that it can roll out Akazoo profitably into larger Western markets, benefiting from a materially lower customer acquisition cost than its competitors," explains Canaccord.

It's why the broker has upgraded cash profit forecasts for 2014 to €22 million, giving adjusted pre-tax profit of €14.4 million and EPS of 33.9 euro cents. This year it looks for €27.9 million, €18.9 million and 41.7 cents respectively.

As we've said here before, there's a clear valuation argument in favour of InternetQ at these levels.

After the number changes, and with the shares at 294p, InternetQ trades on just 9 times forecast earnings for 2015. Next year it's only 8.3. That's incredibly cheap for a company tipped to growth EPS by an average of 16% for the next two years. "It is even on a projected 6.9% free cash flow yield, as we expect capex to be flat in FY15 (falling as a % of profits) and driving up free cash flow conversion rates," writes Canaccord which sticks with its 510p target price.

Having broken above the 200-day moving average and technical resistance at around 280p, they're certainly heading in the right direction. Full-year results are due on 31 March.
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