Dékuple

Earnings Release • Oct 27, 2011

ADLPartner: €91.3 MILLION IN NET SALES AT 30 SEPTEMBER 2011

Paris, 27 October 2011 (5:45 pm) – ADLPartner recorded a gross sales volume¹ of €214.4 million at 30 September 2011, up 0.6% in relation to the previous year, with net sales2 for the first nine months of 2011 climbing 0.7% to €91.3 million.

Change in business for each quarter

At 30 September	2011	2010	Change
Gross sales volume (€ million)	214.4	213.1	+0.6%
1st quarter	77.9	76.5	+1.9%
2nd quarter	68.3	65.7	+3.9%
3rd quarter	68.1	70.9	-3.9%
Net sales (€ million)	91.3	90.6	+0.7%
1st quarter	33.7	32.8	+2.9%
2nd quarter	28.1	26.4	+6.7%
3rd quarter	29.4	31.5	-6.5%

In a difficult economic climate, market prospecting on certain product lines was voluntarily scaled back in the third quarter of 2011. Over this period, the gross sales volume came to €68.1 million, down 3.9% compared with the same period the previous year. Net sales totaled €29.4 million, 6.5% lower than the third quarter of 2010.

Developments for each region

At 30 September	2011	2010	Change
Active open-ended subscriptions (units)	3,170,737	3,051,899	+3.9%
France	2,968,127	2,859,302	+3.8%
Spain	202,610	192,597	+5.2%
Gross sales volume (€ million)	214.4	213.1	+0.6%
France	208.7	208.0	+0.3%
Spain	5.6	5.1	+10.4%
Net sales (€ million)	91.3	90.6	+0.7%
France	88.8	88.3	+0.5%
Spain	2.5	2.3	+8.8%

France accounted for more than 97% of consolidated net sales at 30 September 2011.

The continued tradeoff between product lines is benefiting the development of the active open-ended subscription portfolio, which represented 3.17 million units at 30 September 2011, compared with 3.05 million at 30 September 2010, an increase of 3.9%.

Change in the product mix

At 30 September	2011	2010	Change
Gross sales volume (€ million)	214.4	213.1	+0.6%
Open-ended subscriptions	148.8	141.4	+5.2%
Fixed-term subscriptions	36.0	42.1	-14.4%
Books, merchandise, audio and video	26.8	27.2	-1.8%
Other	2.8	2.3	+20.2%
Net sales (€ million)	91.3	90.6	+0.7%
Open-ended subscriptions	49.6	46.4	+7.1%
Fixed-term subscriptions	17.3	20.3	-14.9%
Books, merchandise, audio and video	22.0	22.0	+0.1%
Other	2.4	2.0	+20.3%

Buoyed by growth in the active subscription portfolio, the open-ended subscription offering achieved 5.2% growth in its gross sales volume and 7.1% in net sales at 30 September 2011. This business contributed 54.3% of net sales over the first nine months of 2011, compared with 51.2% the previous year.

The tradeoff between product lines is reflected in a reduction in the contribution by the fixed-term subscription range, with its gross sales volume contracting by 14.4% and net sales down 14.9%.

The books, merchandise, audio and video line is stable in relation to the previous year.

Outlook

In light of the quality and recurrent nature of its open-ended subscription portfolio, ADLPartner is confident that it will be able to continue developing over the medium term.

FINANCIAL DIARY:

2011 net sales on 26 January 2012 (after close of trading)

Information on the company

As a specialist in relational marketing, ADLPartner designs, markets and implements customer relation management and loyalty services on its own behalf or on behalf of its major partners (banks, retailers, etc.). Capitalizing on its experience on magazine press and enhancing its wide range of offers, aimed at managing, reactivating or ensuring the loyalty of its customers, ADLPartner has established itself as the European number one for loyalty marketing with press subscriptions.

Contacts
ADLPartner	Calyptus
Investor Relations & Financial Information	Cyril Combe
relations.investisseurs@adlpartner.fr	cyril.combe@calyptus.net
tel: +33 1 41 58 72 03	tel: +33 1 53 65 68 68

ADLPartner is listed on NYSE-Euronext Paris – Compartment C

ISIN: FR0000062978–ALP - Bloomberg: ALP:FP – Reuters: ALDP.PA www.adlpartner.com

¹ Gross sales volume represents the value of subscriptions and other products sold.

² Net sales (determined in line with the French professional status for subscription sales) only include the amount of compensation paid by magazine publishers; for subscription sales, net sales therefore correspond to a gross margin, deducting the cost of magazines sold from the amount of sales recorded.