Posted on April 21st, 2015
20 April, 2015 – iCar Asia Limited (ASX:ICQ), owner of ASEAN’s number 1 network of automotive portals today released its latest quarterly Appendix 4C. Cash receipts for the period increased by 112% over the prior corresponding period to $1.4m, representing the highest ever quarter of cash collections.
Net operating cash outflow was $3.7m with a number of one-off costs relating to the transaction and integration of One2car.com and annual staff bonus payments amounting to $0.7m. Total cash outflow for the quarter was $5.3m of which $1.7m related to the acquisition of One2Car.com and final payment of deferred consideration for the purchase of Livelifedrive.com. The Company finished the period with $10m in cash and cash equivalents.
As a combined Group, the iCar Asia businesses delivered exceptional results across key metrics in Q1 of 2015. Key highlights include:
Malaysia – Number 1: Strong early revenue growth
iCar Asia’s Malaysian site, Carlist.my had a great start to the year. Key highlights for Q1 2015 include:
Damon Rielly, CEO of iCar Asia said, “It has been a fantastic start to the year for Carlist.my with many record results being achieved. We are intent on now leveraging our market leadership position to grow revenue.”
Indonesia – Number 1: Growing market leadership and dealer engagement
iCar Asia’s Indonesia business, Mobil123.com continues to increase its market-leadership position. Key highlights for Q1 2015 include:
Mr Rielly said, “Mobil123.com continues to perform very strongly. With record results in both Audience and Leads, it continues to extend its market-leadership position. The cornerstone of our success is the rapid uptake and usage of our RMS system with nearly 3,000 Dealers logging in and using the system during March to upload cars, edit information and promote individual listings either by Featuring or Bumping. We are extremely excited with such strong uptake in such a short period of time since launch.”
Thailand – Number 1: Delivering record operating metrics and delivering on integration
Post its acquisition of market-leading One2Car.com, iCar Asia has moved quickly to successfully integrate One2car.com, Thaicar.com and Autospinn.com, and establish cost efficiencies across the business. At the same time, all key operating metrics have achieved record results and iCar Asia’s RMS has been deployed in Thailand. Key highlights for Q1 2015 include:
Mr Rielly said, “We have moved very fast in Thailand to consolidate the acquisition of One2car.com and increase our market-leadership position. We have delivered immediate cost efficiencies and launched the RMS in Thailand in record time, setting us up to execute on significant revenue potential in Thailand through the balance of 2015.”
Mr Rielly continued, “2015 has started exceptionally well. We have grown our market-leadership position in all of our three countries and we are well placed to deliver on continuing growth in the quarters ahead.”
Sources: Google Analytics and internal
For more information please contact:
Chief Executive Officer
iCar Asia Ltd
Mobile: +60 17 473 3778
Chief Financial officer
iCar Asia Ltd
Tel: +60 17 854 5218
Listed on the Australia Securities Exchange, iCar Asia (ASX: ICQ) owns and operates ASEAN’s No.1 network of automotive portals.
Headquartered in Kuala Lumpur, Malaysia, the company is focused on developing and operating leading automotive portals in Malaysia, Indonesia and Thailand. iCar Asia is continuously working to capitalize on its market-leading positions, with its online properties currently reaching over 11 million car buyers and sellers in the region.