YOC AG — Interim / Quarterly Report 2010

Jun 10, 2010

2010 Berlin, 10. June 2010 1st interim Report

Contents

P. 02

YOC at a Glance

P. 03

Letter to the Shareholders

P. 04

Consolidated Interim Management Report

P. 16

Consolidated Interim Financial Statements

P. 25

Assurance by the legal representatives

P. 26

Financial Calendar

P. 27

Imprint

YOC at a Glance

(in Euro ´000)	Q1/2010	Q1/2009	Change in absolute numbers	Change in %
Revenue and Earnings
Revenue	8,094	6,042	2,052	34%
Germany	6 , 1 4 8	5 , 1 6 5	983	19%
International	1,946	877	1,069	122%
Mobile Marketing segment	5, 882	4,008	1 , 874	47%
Affiliate Marketing segment	1, 754	1 , 5 1 7	237	16%
Mobile B2C Services segment	458	517	-59	- 1 1 %
Total Performance	8 , 4 2 1	6,053	2,368	39%
EBITDA	822	672	1 5 0	22%
EBITDA margin (in %)	10%	11%	-1%	n/a
EBITA*1	663	585	78	12%
Net profit	339	278	61	22%
Earnings per share (diluted/basic in €)	0,19	0,16	0,03	22%
Balance sheet and cash flow statement
Balance sheet total	28,683	28,968*2	-285	- 1 %
Equity ratio (in %)	43%	41%*2	2%	n/a
Cash and cash equivalents	1, 328	2,825*2	-1,497	-53%
Cash flow from operating activities	-1,088	360	-1,448	-403%
Workforce
Average number of employees*3	175	152	23	15%
Number of employees on 31/03*3	173	158	15	10%
Total performance per employee (in Euro ´000)	48	40	8	20%

*1 EBIT before depreciation and amortisation due to purchase price allocation (EBIT adjusted by depreciation and amortisation due to company acquisitions)

*2 as on 31/12/2009

*3 based on the number of permanent employees

The figures are not subject to an auditor's review. Minor calculation differences may occur due to commercial rounding of individual items and percentage values.

Letter to the Shareholders

Dear Shareholder,

the first quarter of the current fiscal year was a great success for the YOC Group. With a turnover of € 8,1 million, the quarterly turnover was the highest in the history of our group and 24% higher than the average quarterly turnover in the fiscal year 2009. This is a 6% increase on the successful previous quarter Q4/2009. On a year-to-year basis, this is an increase by 34% (Q1/2009: € 6.0 million). But we did not only see turnover rise, our operating result before depreciation (EBITDA) also increased by 22% to € 0,8 million (Q1/2009: € 0,7 million). This is the highest quarterly operating result in company history.

There are two main reasons for this positive development: firstly, the general growth of the mobile marketing market and secondly – and this is key – the ability of our company to reap above-average benefits from this growth.

There has been a steady shift in advertising budgets and media use from classic to digital channels. The stationary and especially the mobile internet are interactive and enable advertisers to personalise and better target their campaigns - qualities unrivalled by the conventional media.

Taking also into account the growing popularity of smartphones, the growing number of mobile internet flat rate offers and attention-grabbing market launches of new handsets such as Apple's iPad, the mobile future of the advertising market looks very bright.

By merging and harmonising our different technologies to form a high performance platform last year, we created the perfect conditions for our business to benefit from economies of scale. Our main focus was on Mobile Advertising, which was complemented by a relevant component in the first quarter of 2010: the successful launch of the blind advertising network ubiyoo. Thus, YOC is the only mobile marketer to offer its customers the entire range of mobile advertising solutions on a global basis. Given the current developments in the industry, this puts the YOC Group in a very good position.

In the first quarter of 2010, our leading technology platform and our many years of market expertise won us many new customers. Our portfolio now includes companies such as Air Berlin, Vorwerk, Milka, ORF, Warsteiner, Unilever, Sony Ericsson, Praktiker, and Media Saturn. In addition to our new customer business, we also succeeded in extending existing customer relations.

We were particularly happy to see a very strong performance of the YOC share in the first quarter of 2010.

In the first quarter of the current year, we provided the basis for a successful financial year 2010. We are optimistic that the YOC Group will be able to continue its growth trend. Our unique technology and our strong capacity for innovation consistently scale our business further.

We are looking forward to continuing our excellent working relationship with you!

Kind regards,

Dirk Kraus, CEO of YOC

report Consolidated ²⁰¹⁰ Interim Management Report

Mobile Internet

• Multi-Channel Internet Platform (FIT-Technology) incl. CMS and Device Database
• Establishment and operation of more than 500 international mobile portals

Aⁱliat^{e M}arketin^g

• Mobile Video Solution
• Mobile Banking Solution

^Mobil^{e M}arketin^g

Mobile Marketing Mobile Advertising

• Mobile AdServing Solution incl. In-App and Mobile Video AdServing
• Largest mobile premium publisher network in Europe

• Mobile performance-based network (ubiyoo)

• Integration of the mobile phone into the media mix

• Realisation of individual mobile marketing solutions through innovative technology platform
• Realisation of mobile brand portals and smartphone application (iPhone, Android etc.)
• Messaging gateway system to efficiently send and receive SMS, MMS and e-mails
• CRM and Permission Marketing platform

Mobile Entertainment

• B2C Online and Mobile Content Shop
• Content syndication and licensing

Affiliate Marketing

• Integrated Online and Mobile Affiliate Marketing platform (belboon)

The Company's Performance in the First Quarter of 2010

^Mobⁱl^{e B}2^{C S}ervice^s

• Turnover increased by 34% to reach € 8,1 million compared to Q1/2009. The mobile marketing segment accounts for 73%, the affiliate marketing segment for 22%, and the mobile B2C services segment for 5% of turnover.
• EBITDA amounted to € 0,8 million with an EBITDA margin of 10%.

Operating cash flow was € -1,1 million.

In the first quarter of the financial year 2010, the customer portfolio of YOC Group was expanded by several renowned global brands, leading media companies, and operators of websites with a great coverage.

• Consolidated Interim Management Report
• 04YOC AG 1st interim

mobile marketing

In the mobile marketing segment, the YOC Group develops national and international mobile marketing solutions for branded companies and service providers from different industries based on scalable technologies. Some years ago, mobile marketing campaigns were only SMS-based, today however a number of different technologies are available, which can realise very emotional and multi-media communication concepts on mobile phones. All technologies available on the market are self-developed by YOC, brought together on a powerful and very flexible high-performance platform. This platform helps to develop push or pull campaigns, mobile lotteries, mobile portals and applications as well as mobile CRM campaigns or location-based services. The large number of mobile mechanisms illustrates the various ways how to use mobile phones within the marketing mix. In the first quarter of 2010, it was again the in-house-developed technologies upon which the development of complex mobile marketing solutions for existing and new customers was based. The mobile marketing projects that were developed with existing customers included Deutsche Post, Kraft Foods, Beiersdorf and Mercedes Benz. The YOC Group also gained many attractive new customers in the first quarter such as Air Berlin, Bunte, Engel & Völkers, Unilever, Vorwerk, Milka, Nürburgring, Media Saturn and Warsteiner.

Air Berlin

YOC developed a mobile portal for Air Berlin airline in the first quarter of 2010. The mobile.airberlin.com mobile portal includes information-based and various transaction-based services, which make life much easier for passengers before and during the flight. The integrated booking and check-in feature enables users to directly book their flight and check in on the mobile portal and to directly proceed to their gate with their mobile boarding pass. They can also access current flight information, arrival and departure times at any time. The mobile portal offers a comfort log-in area to the customers of the top bonus programme, which enables an easy log-in due to stored data. The use of the FIT technology guarantees optimised delivery of the new customer's mobile portal to all handsets.

III T-Mobile	14:50 3G
Abflughafen
Berlin
Zielflughafen	Barcelona, BCN
Hinflugdatum
	13 März 2010
Rückflugdatum
Zurück Weiter	$M\ddot{q}$ rz 2010 Autom, ausfüllen	Fertig
	√ Barcelona, BCN Bari, BRI

Mobile CRM for Jacobs Krönung

Development of the iPhone Application Bunte.de

Kraft Foods Germany

In the first quarter of 2010, YOC's long-standing customer Kraft Foods Germany launched the large-scale loyalty programme "Every crown counts" for its JACOBS Krönung brand. When buying a product from the JACOBS Krönung brand family, customers receive "crowns". Once customers have registered on the m.jacobs-kroenung.de mobile portal, they can send the codes of the collected crowns to a SMS short code and exchange them for an attractive bonus. Customer relationship programmes that use mobile mechanisms create enormous added value to the customers and the brand. The integration of the mobile phone enables users to have their collected codes booked directly to their loyalty accounts – which is customerfriendly, time-saving and helps the brand to enter into a dialogue with its customers, irrespective of time and place. YOC used the YOC mobile marketing infrastructure to develop the "Every crown counts" campaign. This infrastructure makes it possible to integrate custom-specific interfaces in order to link up data base applications and systems that help to realise and systematically use standard communication procedures within digital customer relation management.

Bunte

In addition to the browser-based format of mobile portals, the YOC infrastructure also offers standard adaptation of applications to all smartphone platforms based on predefined development patterns in order to include platform-specific features and ensure optimised delivery. Developing mobile applications for various operating systems was one of the main focuses in the mobile marketing segment in the first quarter of 2010. YOC developed not only a mobile portal but also an iPhone application for its new customer Bunte.de. Presented in different categories such as stars, society and royals, all the news and stories from the world of celebrities can be accessed via the mobile portal or the iPhone application anytime and anywhere. Exciting photos and an exclusive video column will entertain you while you are on the go.

mobile advertising

Since the launch of the mobile blind advertising network ubiyoo at the beginning of this year, the YOC Group has been the first and only mobile marketer to offer full service for mobile advertising. Advertising customer can benefit from the possibility to book advertising space in Europe's biggest mobile premium marketing network, which puts them in a position to communicate image campaigns more efficiently. But they are also able to use the globally oriented blind advertising network ubiyoo for a performance-based and low-cost CPM solution. Given the growing number of marketable mobile space, advertising companies can reach different marketing objectives by placing ads in the different publisher networks of the YOC Group. YOC now has a total of about 2,0 billion ad impressions (space available for the delivery of advertising material) per month on a global basis. 0,9 billion of them come from the premium network and 1,1 billion from the blind advertising network ubiyoo.

Both networks are based on YOC's self-developed AdServer, which represents one of the most innovative technologies for optimised delivery of advertising formats to mobile handsets that is available on the market. Due to its versatility, the AdServer can be developed consistently and thus will always remain stateof-the-art.

The AdServer provides the YOC Group with standard features such as campaign management, content management, multitenancy, comprehensive reporting possibilities but offers also various other features which make YOC stand out from the competition.

Special emphasis is placed on the advanced targeting possibilities, which enable the delivery of advertising formats according to different criteria. The offer ranges from time and content targeting over handset- to country-specific and sociodemographic targeting.

In the first quarter of 2010, YOC's leading AdServing technology won the company many new customers. YOC launched e.g. a number of successful mobile advertising campaigns for Volvo, REWE, Ostdeutscher-Sparkassen-Verband, Deutsche Post, Peugeot and Fiat. Fiat Germany and Peugeot UK were the first customers to use the innovative advertising format "expandable ad interactive" developed by YOC in the first quarter. With the banner covering the entire display after one click on the expandable ad, users do not have to leave the page they initially accessed. Compared to the classic expandable ad, the expandable ad interactive enables the user to select individual categories offered by the mobile ad banner. The Peugeot campaign, for example, provided information on the car types 107, 207, and 208. When the user clicks on the 107 button on the mobile banner, the expandable ad covers the entire mobile phone display informing on the selected model. The interactivity of the new expandable ad enables advertisers

to create more interesting content for their advertising portal and make for a more appealing visual experience. For the users, the ad has much more value since it gives them the opportunity to select information individually, thus minimising wastage. The expandable ad, which is very user-friendly already, gets even more user-friendly offering the expandable ad interactive.

In the first quarter of 2010, the YOC Group could extend its premium marketing network by new renowned national and international portals. The new premium publisher portals include RP Online, the Wetter.com iPhone App and Godmode Trader iPhone App in Germany, the iPhone App by Antenne Vorarlberg in Austria and The Sunday Times, Snaptu and Inner Active in the UK.

Extract of the international marketing network of YOC Group

Consolidated Interim Management Report

mobile internet

The mobile internet segment is based on the FIT technology developed by YOC subsidiary Sevenval. The world's leading technology enables the automated creation and optimised delivery of existing online content to all internet-compatible handsets. This includes mobile internet portals and applications for mobile phones as well as optimised content for media players, TV sets, set-top boxes, car entertainment systems and game pads. The ability of the FIT technology to deliver optimised existing online content is not limited to the handsets currently available on the market. The FIT technology makes it easy to immediately deliver optimised content to formats that have not existed before such as foldable displays or Apple's recently launched iPad.

The mobile portals created so far reflect the growing internationalisation of the YOC Group and the continuous development of the technology platforms. In the first quarter of 2010, the group was able to win significant amounts of international business, developing mobile portals for customers such as The Mirror, Air Berlin, heute.at, wien.at, silicon.com, ORF, and metro.uk.

In addition to our successful new customer business, the YOC Group also succeeded in extending existing customer relations with e.g. Austrian Airlines, Haymarket, Du Mont and T-Online. Existing portals were adapted to meet the growing demands of the market. With the help of new technological possibilities, they could be extended and optimised.

The integral parts of the mobile internet are not only news portals but also information and other services. In the first quarter of 2010, several portals were relaunched, e.g. wetter.com, immobilienscout24 and Autoscout24. This development reflects the increasing access to service-oriented mobile portals and their relevance in the marketing mix of the companies.

http://m.mirror.co.uk

http://m.heute.at

2010

affiliate marketing

mobile B2C services

In the first quarter of 2010, the affiliate marketing segment focused on the expansion of international business and the development of our technological platforms. The affiliate marketing network belboon already operating in its core markets Germany, Austria and Switzerland has started business operations in France. When entering the French market, belboon mainly benefited from its well-established position on the German, Austrian and Swiss market. From the very start belboon has been able to win renowned customers such as Conrad Electronic, Lafuma and Skytours. The expansion of its European business enables belboon to successfully run even bigger international campaigns in the future.

The focus in the first quarter of 2010, however, was not only on internationalisation but also on the development of the technological platform to deal with the increase in traffic and transaction volumes. We have also provided our partners with new and attractive features to boost sales. One example is the voucher marketing solution: An online voucher can be created within a minute to be integrated into websites and newsletters. Thus, belboon supports one of the most promising trends in affiliate marketing.

The strategy pursued by belboon-adbutler GmbH also included the shutting down of our subsidiary in Hiddenhausen by the end of the first quarter of 2010. YOC's entire affiliate marketing business is now run from our offices in Berlin, which is more cost-effective and an optimazation of organisation.

Our new customers in the first quarter of 2010 include moebel. de, Raileurope, FlexStrom, XING, EA Mobile and KabelBW. Electronic Arts, one of our new customers, uses the belboon affiliate marketing network for online and mobile marketing of its subsidiary EA Mobile. belboon is the only affiliate marketing provider in the world to have transferred its business model to the mobile internet.

The mobile B2C services segment focused on the optimisation of advertising investments in the first quarter of 2010. Given the easing of competition to be expected at the beginning of the year, the aim was to check the individual channels for their efficiency and to renegotiate the conditions with long-standing advertising partners.

In addition, advertising was expanded by means of performance-based mobile advertising on ubiyoo, the mobile blind advertising network of the YOC Group. This measure helped to reduce advertising costs about 30% in Germany and Belgium.

YOC also entered into new premium content partnerships with Net Mobile and Fox Mobile, which will support the future activities of the segment.

The overall development of the mobile B2C segment in the first quarter of 2010 is in line with our expectations.

In the current quarter, the focus is on benefitting from the synergies between the Belgian and the German market in content production. YOC has also created the technical preconditions for online marketing campaigns to be launched on the Belgian market. In the future, the entire product portfolio will be used for advertising efforts on the mobile internet.

2010

The YOC Share

The stock market got off to a mixed start to 2010

The stock market did not perform as well as expected at the beginning of the year. In the first quarter of 2010, the German stock market indexes started to decline rather than continue their upward trend from the end of last year as predicted. By the beginning of February, the DAX had dropped by 9% falling from 6,048 at the beginning of the year to 5,434 points. Mid-February, however, investors regained confidence in the economic upturn and prices went up. By the end of the quarter, the DAX rallied 3.3% compared to the beginning of the year, reaching 6,154 points. The SDAX displayed a relatively firmer trend, putting on 7% during the period under report.

The YOC share: strong outperformance

Under these conditions, the YOC share saw an above-average rise in share price at the beginning of the year. On 4th January 2010, the share stood at € 13, putting on 177% to reach € 36 by 31st March 2010. At times the share stood at € 43 in the first quarter - a record high since listing in the Prime Standard of the Frankfurt Stock Exchange. The YOC share price displayed a convincing outperformance compared to peer companies and the SDAX, which is also due to the rising percipience of YOC as the market leader and also to the growing confidence of investors in the market potential of mobile marketing and the mobile internet. Even after the end of the period under report, the YOC share performed at a consistently high level, closing at over € 34 on 30th April 2010.

Growing interest in YOC shares

In June 2009, Deutsche Bank guaranteed coverage on the YOC share, issuing a buy recommendation. From April 2010 Close Brothers Seydler Bank AG will be the designated sponsor of YOC AG.

Consistent and transparent investor relations

It is the aim of YOC AG to provide shareholders and other capital market actors with transparent, prompt and comprehensive information about current corporate developments, structural changes and strategic decisions. The company considers transparent financial market information as a key to a sustainable increase in company value. That is why in 2010 the YOC Group intends to continue to talk to analysts and investors about the development of the company, holding telephone conference and attending investor conferences and road shows on a regular basis to inform them about relevant indices and strategic aims.

For more financial information online, please go to http://group.yoc.com/article.735.html

Development of the YOC Share and SDAX Performance Index

	YOC AG	SDAX Performance Index
31/03/2010	35,65 EUR*1	3,895.95 Pt
31/03/2009	10,90 EUR*1	2,337.99 Pt
Change	227%	67%

*1 Closing price XETRA trading

Asset Position, Financial Situation and Results

The YOC Group was able to achieve significant company growth in the first three months of the financial year 2010. Compared to the same period in the previous year, the YOC Group increased its sales by 34% from EUR 6.0 million to EUR 8.1 million in the period from January to March 2010. Overall performance increased by 39% to reach EUR 8.4 million.

In the core segment Mobile Marketing, sales increased by 47% from EUR 4.0 million to EUR 5.9 million in the reporting period of 2010. The share of this segment in total revenue of the Group rose from 66% to 73%. Sales increased by a total of EUR 0.9 million due to the acquisition of BlueStar Mobile Ltd., London, on 27th May 2009 as well as the acquisition of Mobile Interactive Advertising Media S.L., Madrid, on 22nd September 2009, since these figures were not included in the reference period of the previous year.

The turnover of the affiliate marketing segment increased by 16% to € 1.8 million compared to the first quarter of 2009 and contributed 22% to the total turnover of the company.

In the first quarter of 2010, turnover from mobile B2C services dropped by 11% to € 0.5 million, which is a 5% share in total revenue.

In the first quarter of 2010, the Group increased domestic sales revenue by 19% from € 5.2 million to € 6.1 million on a year-toyear basis. This is mainly due to the positive development in the mobile marketing segment.

International sales revenues increased more substantially rising by 122% on a year-to-year basis to € 1.9 million during Q1/2010, reflecting 24% share of total revenue. The two foreign subsidiaries acquired during the fiscal year of 2009, Bluestar Mobile Ltd., London, and MIAM S.L. (Mobile Interactive Advertising Media), Madrid, together contributed € 0.9 million to this growth. Great Britain remained the most important international market with a share of € 0.8 million in the total revenue. Remaining foreign turnover came from Spain with € 0.4 million, Austria with € 0.3 million, Belgium with € 0.2 million, France, the Netherlands, Switzerland and the US.

Due to the increase in incoming orders, material costs rose by 58% from € 2.2 million to € 3.5 million. This is a disproportionate increase in relation to overall performance, which is due to the extremely positive development in the mobile advertising product segment as part of the mobile marketing segment and the affiliate marketing segment. Both segments are not very manpower-intensive but have a higher cost of materials ratio compared to other product segments of the company. So the gross profit margin of the company as a whole dropped slightly from 63% to 59%.

Due to the systematic expansion of domestic and foreign business activities, the number of personnel increased. Compared to the previous year, the average number of employees rose by 23 to an average of 175 due to internal

Turnover by segments Turnover by regions

and external growth. On 31st March 2010, YOC Group had 173 employees.

Personnel expenses rose to € 2.8 million in the first quarter of 2010 as a consequence of the increase in the number of employees.

Other operational expenditure rose by 23% from € 1.1 million to € 1.3 million compared to the first quarter of the previous year. In a year-to-year comparison, however, there is a reduction from 18% to 16% in relation to the overall performance. This positive development illustrates the scalability of the entire business model of the YOC Group.

During the period under report, the operational result before depreciation increased to € 0.8 million compared to the EBITDA in the first quarter of 2009, which amounted to € 0.7 million. This results into an EBITDA margin of 10% (Q1/2009: 11%). EBITDA in the mobile marketing segment rose from € 0.9 million to € 1.3 million compared to the first quarter of 2009. This development is mainly a result of the 47% increase in turnover in this segment. EBITDA in the affiliate marketing segment increased to € 0.2 million due to

the increase in turnover. EBITDA in the mobile B2C segment amounted less than € 0,1 million.

EBIT rose by 11% to EUR 0.5 million compared to the same period in the previous year. Earnings Before Tax (EBT) was EUR 0.4 million, i.e. approximately on the same level as in the previous year. The result after tax was improved by operating 22% to EUR 0.3 million. In the first three months of 2010, cash flow amounted to EUR -1.1 million. Cash and cash equivalents declined by EUR 1.5 million in the period under report and amounted to EUR 1.3 million on 31/03/2010. The decline mainly results from the reduction of trade payables as well as the higher capital commitment due to the increasing sales volume. The equity-to-assets ratio was increased from 41% (31/12/2009) to 43% in the period under report due to the positive quarter result after tax.

1st interim report 2010

Risk Management Report Outlook

YOC Group is an internationally active service provider operating in a dynamic market, which naturally involves entrepreneurial, sectoral and financial risks. This mainly includes market and competition risks, technological risks, risks of liability, personnel risks, design risks, organisational risks and financial and treasury risks. YOC Group's risk management focuses on the efforts to generate sustainable growth and to increase the company value. Taking into account the risk/return ratio, conscious decisions are made to take the necessary risks. Foresighted risk controlling across the Group helps to identify and calculate risks and opportunities in time to guarantee efficient controlling for the success of the company. In the first three months of 2010, the illustrated risk situation did not substantially change compared to the annual report of 2009. Taking account of all known facts and conditions, there are currently no substantial risks. For an overview of future developments, please see section "Outlook".

In the first quarter of the financial year 2010, the YOC Group generated the highest quarterly turnover in company history. The operating profit was also substantially higher increasing by 22% compared to the first quarter of the previous year.

This positive development is due to the general growth of the mobile marketing market and the ability of the YOC Group to reap above-average benefits from this growth.

The strong market growth experienced in the first quarter of the current fiscal year is expected to continue in the coming months. The following factors will continue to have a positive impact on the market: the growing popularity of mobile devices, faster transfer rates due to the rising use of UMTS, the growing use of smartphones and the increasing use of the mobile internet that comes with it.

The YOC Group is ideally positioned for this strong market growth. The scalable mobile marketing offer, the presence on European core markets and leading technologies to develop mobile marketing solutions promise continuing above-average participation in future market growth.

We expect the financial year 2010 to see an increase in turnover to € 30.0 or up to € 32.0 million with an increasing EBITDA of about € 3.0 million to € 3.2 million.

Consolidated interim financial statements

Consolidated Statement of Comprehensive Income (unaudited)

Profit and Loss Statement in Euro (condensed)	Q1/2010	Q1/2009
Sales	8,093,617	6,041,722
Inventory movements	0	-109,000
Own work capitalised	252,000	100,000
Other operating income	75, 283	20, 5 6 0
Total performance	8,420,900	6,053, 2 8 2
Material costs	3,498,000	2 , 2 2 1 , 3 5 0
Personnel expenses	2,753, 0 3 1	2,067, 6 4 5
Other operating expenses	1,348,237	1,092, 4 7 7
Operating result before depreciation	821,630	6 7 1 , 8 1 0
Depreciation	299,1 2 6	2 0 1 , 9 07
Operating result	52 2 ,505	4 69, 9 02
Financial income	974	3 9, 3 0 9
Financial expenses	1 0 1 ,624	1 0 3 ,0 2 4
Financial result	-100,650	- 6 3 , 7 1 5
Earnings before tax	42 1, 855	406, 1 8 7
Taxes	82,404	1 2 7, 8 4 0
Earnings after tax	339,451	2 7 8 , 3 47
Earnings per share (diluted/undiluted)	0,19	0,16
Number of shares in 2010/2009: 1,750,000

Comprehensive income in Euro (condensed)	Q1/2010	Q1/2009
Period earnings after tax	3 39,4 51	278,347
Unrealised gains on foreign-currency transactions	2 , 1 1 2	7, 3 1 5
Miscellaneous earnings	2 , 1 1 2	7, 315
Comprehensive income	3 41,563	285,662
Proportion of comprehensive income accounted for by minority interests	0	0
Proportion of comprehensive income accounted for by shareholders of YOC AG	341,563	285,662

Consolidated Balance Sheet (unaudited)

in Euro (condensed)	31/03/2010	31/12/2009
Assets
Non-current assets	19,524,8 7 1	19,659,689
Tangible assets	701,063	725,074
Goodwill	10,745, 6 3 1	10,743,776
Intangible assets	8,066,0 8 1	8,035,727
Financial assets	1 ,000	1,000
Deferred tax assets	11,096	1 5 4 , 1 1 2
Current assets	9,157,924	9,308,202
Inventories	29,800	29,800
Downpayments made	14 4, 74 3	1 2 0 ,754
Trade receivables	7, 219, 235	5,943,7 75
Other assets	201,662	157,786
Tax receivables	234,520	231, 265
Cash and cash equivalents	1,327,964	2,824,822
Total assets	28,682,795	28,967,891

The figures are not subject to an auditor's review. Minor calculation differences may occur due to commercial rounding of individual items and percentage values.

Consolidated Balance Sheet (unaudited)

in Euro (condensed)	31/03/2010	31/12/2009
Shareholders' equity and liabilities
Equity	12,210,439	11,868,875
Subscribed capital	1,750,000	1,750,000
Capital reserve	9,143 , 28 1	9,143 , 2 8 1
Revenue reserve	1,593,630	1,254, 1 7 9
Currency translation balance	-12,634	-14,746
Treasury shares	-263,839	-263,839
Non-current liabilities	3,237,702	3,002,789
Provisions	48,200	48,200
Bank loans and overdrafts	1,645,898	1,329,898
Miscellaneous liabilities	908, 3 9 1	823, 1 4 4
Deferred taxes	635, 2 1 4	801,547
Current liabilities	13,234,654	14,096,227
Downpayments received	1,596,963	1,629,094
Trade payables	2,756 ,284	3,707, 1 7 1
Bank loans and overdrafts	4,223,000	4,644,847
Miscellaneous liabilities	4,338, 1 9 1	3 , 8 51,299
Tax payables	234,022	128,393
Provisions	8 6 , 1 9 4	135,423
Total equity and liabilities	28,682,795	28,967,891

The figures are not subject to an auditor's review. Minor calculation differences may occur due to commercial rounding of individual items and percentage values. Previous year's figures adjusted according to IFRS 3.62 (b) (iii).

Consolidated Cash Flow Statement (unaudited)

in Euro (condensed)	Q1/2010	Q1/2009
Earnings after tax	339, 4 5 1	278 , 3 47
Depreciation	299, 1 2 6	201,907
Taxes recognised in profit or loss	82,404	127,840
Interest recognised in profit or loss	100,650	6 3 , 7 1 5
Other non-cash expenses and income	5,579	3,094
Cash-Earnings	827,209	674,903
Gains/losses from asset disposals	20	0
Changes in inventories	0	109,000
Changes in receivables, advance payments and other assets	-1,345,839	353,742
Changes in liabilities, advance payments and other liabilities	-460, 237	-424,793
Changes in current provisions	-49,229	-121,958
Interest received	974	39,309
Interest paid	- 5 7, 7 7 1	-103,024
Taxes paid	-3, 597	- 1 6 7, 6 5 1
Operating cash flow	-1,088,470	359, 528
Inflows from the sale of marketable securities	0	-8,229
Investments in property, plant and equipment	- 41,957	-21,084
Investments in intangible assets	-7,766	8,448
Payments for development costs	-252,000	-100,000
Cash-Flows from investing activities	-301,723	-120,865
Loan repayment	-105,847	-793,000
Loans	0	69 1 ,055
Acquisition of treasury shares	0	- 1 1 8 , 7 1 8
Cash-Flows from financing activities	-105,847	-220,663
Net increase / decrease in cash and cash equivalents	-1,496,040	18,000
Changes in cash and cash equivalents resulting from exchange rate variations	-818	0
Cash and cash equivalents at the beginning of the reporting period	2,824,822	4,528,833
Cash and cash equivalents at the end of the reporting period	1, 327,964	4,546,833

The figures are not subject to an auditor's review. Minor calculation differences may occur due to commercial rounding of individual items and percentage values.

Statement of changes in consolidated equity (unaudited)

in Euro (condensed)	Subscribed capital	Capital reserves	Revenue reserves	Currency translation balance	Treasury shares	Total
On 31/12/2009	1,750,000	9,143,281	1,254,179	-14,746	-26 3 , 8 39	11,868,875
Earnings after tax			339,451			3 3 9, 4 51
Unrealised profits				2 , 1 1 2		2 , 1 1 2
Comprehensive income			339,451	2 , 1 1 2		341, 563
Acquisition of treasury shares						0
On 31/03/2009	1,750,000	9,143,281	1,593,630	-12,634	-263,839	12,210,438

in Euro (condensed)	Subscribed capital	Capital reserves	Revenue reserves	Currency translation balance	Treasury shares	Total
On 31/12/2008	1,750,000	9,100,489	1,397,521	3,088	0	12,251,098
Earnings after tax			278,347			278, 347
Difference arising from currency conversions				7, 3 1 5		7, 3 1 5
Comprehensive income			278,347	7, 3 1 5		285,662
Acquisition of treasury shares					-118,7 18	-118,7 1 8
On 31/03/2009	1,750,000	9,100,489	1,675,868	10,403	-118,718	12,418,042

The figures are not subject to an auditor's review. Minor calculation differences may occur due to commercial rounding of individual items and percentage values.

Annex (unaudited)

General information and accounting and valuation principles

YOC AG is obliged to compile a consolidated financial statement according to Section 290 II of the German Commercial Code (HGB). The Interim Financial Statement of YOC AG as of 31st March 2010 has been prepared pursuant to Section 315a of the German Commercial Code (HGB) in accordance with the International Financial Reporting Standards(IFRS) issued by the International Accounting Standards Board (IASB), London, United Kingdom, and the Interpretations of the International Financial Reporting Interpretations Committee (IFRIC), as applicable in the European Union (EU), in effect on the closing date of the financial statement.

The Interim Financial Statement of YOC AG thus conforms to the IFRS as mandatory in the European Union from 1st January 2010.

The unaudited interim financial statement of YOC AG conforms with International Accounting Standards (IAS) 34. The interim financial statement should be read in connection with the audited IFRS financial statement dated 31 December 2009. The accounting and valuation principles used for the interim financial statement were generally the same as for the IFRS financial statement dated 31 December 2009.

The interim financial statement has not been audited.

Application of new and amended standards

Standards and interpretations to be applied in the current financial year

The following standards are mandatory for YOC AG from the financial year 2010:

• IFRS 3 (revised in 2008) "Business Combinations" contains amended regulations on the accounting of business combinations. The amendments in comparison to the original version of IFRS 3 refer to the scope of application and the treatment of successive share purchases. Furthermore, IFRS 3 (revised in 2008) offers companies an option: Non-controlling interests may be measured at fair value or at the proportionate share of net assets. Consequently, any goodwill is recognised in full or only in proportion to the majority owner's interest depending on which option a company exercises. These changes will have a respective impact on the accounting of business combinations.

• IAS 27 (revised in 2008) "Consolidated and Separate Financial Statements" contains amendments of the regulations on the treatment of transactions with non-controlling interests of a group. Transactions which result in a parent company changing its ownership interest in a subsidiary without a loss of control are to be accounted for as equity transactions without an effect on profit or loss. Regulations for treatment in the event of a loss of control over a subsidiary were also changed. Moreover, IAS 27 (revised in 2008) regulates how deconsolidation gains or losses are to be calculated and how the residual ownership interest in the former subsidiary is to be measured following a partial sale. These revisions will have a respective impact on the accounting of intra-group transactions.

The following standards and interpretations to be applied for the first time in the financial year do not have a material impact on the financial statement of YOC Group:

• "Improvements to IFRSs" (2009)
• IFRS 1 (restructured in 2008): First-Time Adoption of International Financial Reporting Standards
• Amendment of IFRS 2 (revised in 2009): Group Cash-Settled Share-Based Payment Transactions
• Amendment of IAS 39 (revised in 2009): Eligible Hedged Items
• IFRIC 12: Service Concession Arrangements
• IFRIC 15: Agreements for the Construction of Real Estate
• IFRIC 16: Hedges of a Net Investment in a Foreign Operation
• IFRIC 17: Distributions of Non-Cash Assets to Owners
• IFRIC 18: Transfer of Assets from Customers

Early application of standards

• IFRS 8 was amended by "Improvements of IFRSs" (2009) to the effect that, in addition to liabilities, assets of reportable segments now only have to be disclosed if they are regularly reported to the persons responsible in the company. Such reporting is not carried out within YOC. Therefore, these disclosures do not form part of segment reporting. The amendment of the standard was applied to segment reporting already in the Annual Report for 2009.

Published standards and interpretations that are not being applied yet

The following standards, amendments and revisions of standards as well as interpretations were already published

on the release date of the Interim Financial Statement, however, their application was not mandatory.

The effects of the following standards on the consolidated financial statement of YOC Group are currently being reviewed.

• IFRS 9 (revised in 2009): "Financial Instruments" replaces the previous regulations of IAS 39 regarding the classification and measurement of financial instruments. IFRS 9 (revised 2009) becomes effective for the first time for financial years starting on or after 1st January 2013.

The following standards and interpretations are not yet applicable in the financial year 2010 and are not expected to have material impact on the financial statements of YOC AG.

• IAS 24 (revised in 2009): "Related Party Disclosures"
• IAS 32 (revised in 2009): "Classification of Rights Issues"
• Amendment of IFRS 1 (revised in 2009): Additional Exemptions for First-Time Adopters
• Amendment of IFRS 1 (revised in 2010): Limited Exemption from Comparative IFRS 7 Disclosure for First-Time Adopters
• Amendment of IFRIC 14 (2009) Prepayments of a Minimum Funding Requirement
• IFRIC 19: Extinguishing Financial Liabilities with Equity Instruments

The management expects that the above standards and interpretations will be applied in the consolidated financial

statement for the financial year, in which they become mandatory.

Companies consolidated

There were no significant changes in the group of consolidated companies of the YOC Group during the first quarter of 2010.

Information about related partiesNo business transactions were carried out with related parties.

Miscellaneous events

The belboon-adbutler GmbH moved its registered site from Hiddenhausen to Berlin in Q1/2010.

Significant events after the closing date

By the time of publication of the interim financial statement, no significant events are considered to have taken place after the closing date.

	Fully consolidated companies	Shares in %	Held via No.	Since
Germany
1	YOC AG, Berlin	-	-	-
2	Moustik GmbH, Berlin	100%	1	01/02/2007
3	Brutus Media GmbH, Regensburg	100%	1	3 1 /07/2007
4	Sevenal AG, Cologne	100%	1	25/09/2007
5	belboon-adbutler GmbH, Berlin	100%	1	12 /03/2008
6	YOC Mobile Advertising GmbH, Berlin	100%	1	1 1 /03/2009
7	ubiyoo GmbH, Berlin	100%	1	24/08/2009
Other countries
8	YOC Ltd., London, Great Britain	100%	1	0 1 /01/2007
9	Moustik Sprl., Brussels, Belgium	100%	1	01/02/2007
10	Bluestar Mobile Ltd., London, Great Britain	100%	1	27/05/2009
11	YOC Central Eastern Europe GmbH, Vienna, Autria	100%	1	01/06/2009
12	Mobile Interactive Advertising Media S.L.,Madrid, Spain	100%	1	22/09/2009

Segment Report

Segment reporting is carried out on the basis of the internal management structure. The internal reporting structure corresponds to the reporting structure that was used for the first time in the Annual Report for 2009. The reference period of the previous year was adapted accordingly.

in Euro ´000	Mobile Marketing	Affiliate Marketing	Mobile B2C Services	Consoli dation	Overhead	YOC Group
01/01/2010 - 31/03/2010
External sales	5,882	1,754	458			8,094
Internal sales	775	1	204	-980
Total sales	6,657	1,755	662	-980		8,094
Own work capitalised	192	60				252
Inventory movements
Other operating income	74	1				75
Total performance	6 , 1 4 8	1 , 8 1 5	4 5 8			8 , 4 2 1
Material costs	2 ,10 4	1,302	92			3,498
Personnel expenses	2,043	2 2 9	65		4 1 6	2 , 7 5 3
Other operating expenses	684	53	269		342	1 , 3 4 8
EBITDA	1 , 3 17	2 3 1	32		-758	822

01/01/2009 - 31/03/2009

External sales	4,008	1 , 5 1 7	5 1 7	-	-	6,042
Internal sales	93	-	202	-295	-	-
Total sales	4 , 1 0 1	1 , 5 1 7	7 19	-295	-	6,042
Own work capitalised	40	60	-	-	-	100
Inventories	-109	-	-	-	-	-109
Other operating income	18	2	1	-	-	21
Total performance	3,957	1,578	5 1 8	-	-	6,053
Material costs	880	1,268	73	-	-	2 , 2 2 1
Personnel expenses	1 , 5 5 1	1 50	56	-	3 1 1	2,068
Other operating expenses	586	26	3 2 1	-	1 5 9	1,092
EBITDA	940	13 4	68	-	-470	672

The figures are not subject to an auditor's review. Minor calculation differences may occur due to commercial rounding of individual items and percentage values.

EBITDA can be reconciled to earnings after tax as follows:

Profit (in Euro´000)	Q1/2010	Q1/009
EBITDA	822	6 7 2
Depreciation	-299	-202
Financial Result	- 1 0 1	-64
Taxes	- 82	- 1 2 8
Earnings after tax	3 39	2 7 8

€ 6,148 thousand of the external sales were accounted for by Germany (previous year: € 5,165 thousand). € 1,946 thousand of the external sales were generated in other countries (previous year: € 877 thousand).

€ 15,049 thousand of non-current assets can be allocated to Germany and € 4,476 thousand to other countries.

1st interim report 2010

Assurance by the legal representatives

We confirm to the best of our knowledge that the consolidated financial statements comply with the accounting principles which have to be applied in interim financial reporting and communicate a true and fair picture of the Group asset position, financial situation and operating results, that the consolidated management report presents the development of the business, including the business results and the situation of the Group, in such a way that a true and fair picture is communicated and that the main opportunities and risks of the probable development of the Group in the rest of the financial year are outlined.

Berlin, June 10th 2010

Dirk Kraus, CEO der YOC AG

Alex Sutter, CSO der YOC AG

Jan Webering, COO der YOC AG

Financial Calender

09/03/2010

Publication of the provisional annual results for 2009

28/04/2010

Press conference in Frankfurt

10/06/2010

Publication of the 1st Quarter 2010

16/06/2010

Annual General Meeting in Berlin

12/08/2010

Publication of the Semi-Annual Report 2010

10/11/2010

Publication of the 3rd Quarter 2010

Provisional dates. An updated version can be found at www.yoc.com

Imprint

Publisher and overall concept

YOC AG Karl-Liebknecht-Str. 1 10178 Berlin

t: +49 (0) 30 / 72 61 62-201 f : +49 (0) 30 / 72 61 62-222 e: ir@yoc.com

www.yoc.com

Design and Production YOC AG

Reprinting only allowed with the approval of YOC AG.