2014 ANNUAL RESULTS

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2014 KEY FACTS

2014 l Key facts

Signifiant transactions…

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Withdrawal from publishing activities, marked by the sale of jeuxvideo.com to

Webedia in June.

A sound financial structure:

€49 million of cash and cash equivalents available at the end of 2014.

Limited financial endebtedness and early repayment of the rest of the existing syndicated loan

(€22 million).

€4,5 million of share buyback during the second half of the year.

2014 key figures*:

Revenue: €164 m

Gross profit: €44 m

Operating income: €15 m

Net income of the consolidated companies: €6 m

Strong growth in the new business lines and decline in the traditional ones, on both

activities. *Proforma figures taking into account the sale of jeuvideo.com in 2014

2014 l Key facts

…to allow the development of each business

in a stand-alone way

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Separation project of advertising (Hi Media) and online payment (HiPay) activities

Successfully repositioned, this operation will allow both activities to:

Benefit from significant financial, human and technological resources

Implement their own growth strategy (different markets, distinctive growth drivers)

Provisional timetable: HiPay should be listed on Euronext in H1 2015

Evolution in management teams

FY2014 ANNUAL RESULTS

2014 l Advertising

Reaffirmed priority for RTB, video and mobile

Upward trend confirmed for video,

mobile and RTB, now accounting for

55% of the advertising activity

Numerous contracts signed in Q4 for both

video and mobile

Strong decline in the traditional display

activity in France and Europe

Significant decrease in the gross profit

in H2 2014 due to the Group’s policy:

early termination or renegotiation of

onerous display contracts (-€8 m)

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Revenue

Gross profit

2014 l Payment

Confirmed strengthening of HiPay Full Service

supported by the successfull launch of TPP solution

Strong growth in the volume of

transactions

Accelerated rise in the second half

of the year (+51% in Q4), driven

by the success of HiPay Full

Service

Return to margin growth in H2,

due to the evolution in the product

mix

Negative impact from the

traditional activity (HiPay Mobile)

this year

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Volume

Gross Profit

2014 l Costs structure

Controlled costs structure

Purchases stability despite the

significant rise in direct costs

linked to the banking payment

activity

HR expenses down thanks to the

downsizing of the Group’s

perimeter with notably the disposal

of the publishing activity (JV.com)

during the year

Stability in the level of investments,

as the structural part of it has been

completed over the past two years

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HR Expenses

Purchases

2014 l Consolidated P&L (proforma)

Results impacted positively by jeuxvideo.com sale

Current operating income affected by the slowdown in activity

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Period from 1 January to 31 December – in €M

Turnover

Gross profit

EBITDA

Current operating income

Stock based compensation

Other non-current earnings and charges

Operating income

Financial result

Share in the income of the SMEs

Pre-tax earnings

Net income of the consolidated companies

2014

163.7

44.0

-5.3

-9.7

0,0

24.6

14.9

-1.7

0.0

13.2

6.3

2013

182.7

57.1

7.5

3.0

-0.5

-1.6

0.9

-0.2

0.0

0.7

0.7

2014 l Cash Flows

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Strong cash flow generation due to proceeds from sales

Debt reduction

Improvement in working

capital

Early repayment of ~€22

million, which corresponds

to the rest of the existing

syndicated loan

€4,5M of share buyback

€80 million in investments

and acquisitions mainly

related to the proceeds

from sale of assets (before

costs)

2014 l Consolidated balance sheet

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A sound financial structure

to finance the future growth strategy

Fixed

assets

Account

receivable

Other

assets

Cash

& equivalents

Shareholder

equity

Long term

financial debt

Account

payable

Other

liabilities

AN INNOVATIVE AND COMPLETE

DIGITAL OFFER

HiMedia | An offer in line with its market

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Covering all digital advertising

A PROMISING MARKET

Online advertising in Europe Video advertising in Europe

Activity l A confirmed acceleration of growth drivers

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A needed and successful repositioning

Progressive launchs of new

offers

RTB (2012)

Video & Mobile

(during 2013)

X4 between 2012 and 2014

55%

of 2014 proforma turnover

In € millions

RTB

+

Native Advertising

Growth strategy l Priority given to innovation

AUTOMATION OF THE ADVERTORIAL

THE DRIVE TO STORE THROUGH MOBILE

Location based mobile

advertising solution

Proprietary technology

Targeted acquisitions on both key segments

(RTB and Mobile)

=

49% share of capital

Clients: Amnet (Aegis), GroupM

trading desk (WPP), AOD (Publicis)

Acquisition of 100% of the

capital

800 million location-based

impressions per month

Clients: Le Monde, La Tribune,

Seloger, Reworld Media, Webedia,

Skyrock…

International development

on high potential markets

ACQUISITION OF

ORANGE'S DIGITAL

ADVERTISING NETWORKS

(Mexico, Miami and Spain)

EXPANSION TOWARDS

THE HISPANIC WORLD

benefitting from promising

market trends

The international will

account for a majority of

sales as of 2015

Growth strategy l New territories

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Return to global growth of turnover after several years of decline, thanks to:

The progression of its businesses based on 2014 perimeter

The integration of the acquisitions completed at the start of 2015

I.e. 2015 turnover should amount tobetween €85 and €90 million

Improve significantly the operating profit and target:

An EBITDA between -€3 et -€1 million

A return to positive profitability in 2016 based on the actual perimeter

HiMedia l 2015 Objectives

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HiPay Full Service

Solutions for international online banking

transactions (credit card, bank transfer, e-wallet,

etc.)

Created to help content editors and e-traders in

their business development.

HiPay Mobile

French and European leader in micropayment

solutions

Facilitates the monetization of digital goods of

small amounts over internet in 85+ countries

HiPay | Online Payment solutions

digital payments experts

11 million transactions /month

70 payment methods available in 85 countries

1 proprietary technology

Double European banking license: PSP & E-money issuer

Operates in

6 European countries

+ Brazil and USA

Employs around

120 people Including 50 engineers

A business volume of

~ €600 million in 2014

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~ 100 million text messages

~ 170 million minutes of telecommunication

~ 270 telecom operators working with

HiPay in 85 pays

~ 70 different payment methods on the

platform

Mobile l In figures

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Full Service l Definition

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A one-stop-shop platform to control

the entire value chain

4,000 active traders

4 million wallet users accounts

70 directly (and 150 indirectly) integrated payment methods beyond VISA, Mastercard and Amex

140 currencies treated

Full control of the value chain both

cash in and cash out (market place)

10 million data collected per month

Full Service l In Figures

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1/ Positioning

International / cross border

Value added services (FPS, Analytics, BI/DMP)

2/ Distribution channels

Sales teams in each one of the countries in which HiPay

operates

CMS

Institutional (banking networks, buyers)

3/ Specificity

Able to accompany on the cash in, as well as on the cash out

Accounts management / Marketplace

4/ Deployment

Desktop

Mobile devices

Multi channels (omnicanal)

Full Service l Go to market strategy

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International

business expansion

Effective fight against

fraud

Greater payments

management

Increase profits

HiPay l Market trends

A dynamic market with numerous growth drivers

Rise of m-commerce:

+45% in 2015

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HiPay l Perspectives

Global business growth

and industry standard profitability in 2015

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1st step completed confirming the right positioning of the offer

Strong growth prospects with many innovative projects capable of creating more

added value for e-traders

Focus on data and m-commerce

Continued deployment of the offering with more payment methods and new

geographies

QUESTIONS