Media Centre

Myriad Group Delivers Strong Q3 Results

30 October 2009

• Revenues of USD 31.3 million, up 281% from 2008 Q3
• EBITDA USD 5.7 million
• Cash balance of USD 41.2 million

DUEBENDORF-ZURICH, Switzerland – 30 October 2009 – Myriad Group AG (SIX: MYRN), a global leader in mobile technology with software in over 2 billion phones, today reported unaudited revenue of USD 31.3 million for the third quarter of 2009. Underlying operating profit (EBITDA) reached USD 5.7 million, or 18.1% of revenue, in the period.

“Myriad’s Q3 results confirm again that our increased scale and efficiencies can deliver impressive financial performance,” said Simon Wilkinson, CEO of Myriad. “With our strong underlying operating profit and a cash position of more than USD 40 million, we now have a solid foundation to pursue additional growth opportunities.”

Revenue and gross margin driven by Device Solutions segment

The Device Solutions segment – which provides software and engineering services to leading manufacturers of mobile phones and other devices – reported revenue of USD 28.7 million for 2009 Q3, compared to USD 6.1 million in 2008 Q3. Gross profit of the Device Solutions segment reached USD 21.6 million, 75.2% of the segment revenues.

The signing of new contracts with top mobile phone manufacturers demonstrated that the underlying demand for Myriad device software and services continues to be robust.

The Mobile Services Platforms segment – which provides self-care services and other solutions for mobile network operators – reported revenue of USD 2.6 million in 2009 Q3, compared to USD 2.1 million in 2008 Q3. Gross profit of the Mobile Services Platforms segment was USD 1.4 million, 54.5% of the segment revenues.

Underlying operating profit (EBITDA) was USD 5.7 million for the third quarter of 2009, delivering an underlying operating profit margin of 18.1%. In 2008 Q3, EBITDA was USD -1.2 million, resulting in a -14.9% profit margin.

Cash & cash equivalents increased by USD 19.5 million during the third quarter of 2009, reaching USD 41.2 million as of 30 September 2009. The increase reflected improved collection terms from customers, and rigorous cost controls.

Information on Myriad’s Media and Analyst Briefing

Today at 9:30 am CET, a conference call for media and analysts will be hosted by Simon Wilkinson, CEO, and James Bodha, CFO.

Dialing information:

• Swiss Local: 0434569986
• Swiss Toll Free: 0800 800 038
• UK Local: 0203 003 2666
• UK Toll Free: 0808 109 0700
• France Local: 01703 77 166
• France Toll Free: 0805 630061

Webcast registration:

http://www.myriadgroup.com/Investors/Investor-Calendar.aspx

Contacts

James Bodha
Chief Financial Officer
Tel: +44 161 249 5400

Nicolas Fiorini
Investor Relations
+41 44 823 8900

Email: investor_relations@myriadgroup.com

About Myriad

Myriad Group AG is a global leader in mobile technology and has shipped software in more than 2 billion devices. Its comprehensive portfolio includes browsers, messaging, Java, social networking, user interfaces and middleware for all types of mobile phones, from ultra-low cost handsets to advanced smartphones.

The company provides both individual components and complete solutions, which enable handset manufacturers and operators to deliver amazing experiences on mobile phones. Myriad also develops USSD-based customer self-care platforms that deliver over 10 billion messages a year to 220 million mobile users across more than 30 mobile operators worldwide.

Myriad was created from the combination of industry-leading companies, Esmertec and Purple Labs. It operates worldwide, with offices in Switzerland, France, UK, USA, China, South Korea, Taiwan and Japan. Headquartered in Dübendorf-Zürich Switzerland, Myriad is listed on the SIX Swiss Exchange (SIX Symbol: MYRN). For more information, visit www.myriadgroup.com.

Revenue Myriad Group AG 2009 Q3

 

Note: (1) Pro forma reflects the 2009 YTD results including Purple Labs contribution for the entire nine months period.

 

 

Segment information 2009 Q3