March 5, 2018 / 6:39 AM / 4 months ago

BRIEF-SoLocal Group 2017 Average Churn Rate Decreases To 17.1 Pct

March 5 (Reuters) - SOLOCAL GROUP SA:

* SAID ON SUNDAY AVERAGE CHURN RATE DECREASED FROM 18.5 PCT, IN 2016 TO 17.1 PCT, IN 2017

* APPROXIMATELY 10% OF TOTAL SALES FOR YEAR ENDED DEC. 31 WERE DERIVED FROM “EVERGREEN” CONTRACTS

* APPROXIMATELY 26,000 OF CLIENTS HAVE ENTERED INTO SUCH CONTRACTS AS OF JAN. 2018

* GOAL FOR 2018 IS TO INCREASE PORTION OF TOTAL SALES DERIVED FROM “EVERGREEN” CONTRACTS TO 30 PCT AND TRIPLE THE NUMBER OF SUCH CLIENTS UNDER SUCH CONTRACTS

* MAY DECIDE TO PHASE OUT PRINT & VOICE BUSINESS IN 2019 OR 2020 IF NEW OFFERINGS FAIL TO IMPROVE FINANCIAL PERFORMANCE OR PROSPECTS

* EXPECTS EXPENDITURES FOR ACQUISITION OF TANGIBLE AND INTANGIBLE FIXED ASSETS (CAPEX) FOR 2018 AND 2019 TO BE LOWER THAN IN 2017

* LAUNCHED A STRATEGIC REVIEW OF CERTAIN NON-CORE BUSINESS ASSETS AND SITES

* HAS LAUNCHED OTHER INITIATIVES SIMILAR TO DISPOSAL OF AVENDREALOUER.FR AND MAY EXECUTE AT LEAST ONE SIMILAR TRANSACTION FOR ANOTHER NON-CORE ASSET IN COMING MONTHS

Source text: bit.ly/2HZUPvj Further company coverage: (Gdynia Newsroom)

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