AN EXCELLENT FIRST HALF OF 2015

Transcription

1 Consolidated Revenue: +14% Consolidated Revenue B to B : +49% Consolidated EBIT: +63% AN EXCELLENT FIRST HALF OF 2015 Brussels, 27 August 2015 at 5:35 PM - Regulated information RENTABILIWEB GROUP (ISIN BE Mnemo BIL) has today published its results for the first half of the 2015 financial year. They show an excellent first semester and are characterised by an increase in turnover of almost 14% and a significant upturn in EBIT. Key figures for the first half of 2015 Consolidated revenue 33,905 38, % Gross margin 19,819 21, % Gross margin rate 58.5% 55.0% -3.5 points EBITDA 1,782 2, % As a % of revenues 5.3% 5.9% +0.7 point EBIT 1,064 1, % As a % of revenues 3.1% 4.5% +1.4 point Operating income 1,193 1, % As a % of revenues 3.5% 4.4% +0.9 point Net consolidated income 1,630 1, % As a % of revenues 4.8% 4.5% -0.3 point Mr. Jean-Baptiste Descroix-Vernier, the Founding President of Rentabiliweb, states: "In barely 36 months, Rentabiliweb has succeeded in considerably modernizing its product line and preparing itself for the future. The performance and synergy of the tools offered to merchants have helped sustain strong growth. The strategic growth model we have chosen pays off." 1

2 Half-yearly results: an excellent first semester The consolidated turnover of the Rentabiliweb Group stands at 38.5m, up 14% on the first half of 2014, thanks to a very good second quarter, which saw an increase of 25% compared to Q and sequential growth of 17% (compared to Q1 2015). B to B now represents nearly 60% of total Group turnover. EBIT for the first half of 2015 stands at 1.7m, up 63% on H The EBIT margin thus increased by 1.4 percentage points. This significant increase results from the combined effect of a 0.5m rise in B to B EBIT and stable B to C EBIT. This double-digit growth was realized (i) in a difficult global market situation for B to C and (ii) in a context of continued investment effort to accelerate development of B to B activities. B to B division : a fast development B to B division consists of three complementary activities designed to increase the revenue of retailers (online and offline) : Payment by credit card (Be2bill) optimizes transaction on the Internet, mobile, tablet and physical payment terminal. Direct marketing boosts sales and increases customer loyalty Telecom activities provide interactive services to merchants and allowing them to stay in touch with their clients The B to B division turnover stands at 22.5m, up 49% on H1 2014, continuing to grow during the two quarters compared to the two 2014 quarters (+42% in Q1 and +52% in Q2). The division also shows strong sequential growth (+19% in Q compared to Q1 2015). Be2bill have three main activities: VAD (distance selling via the Internet), mobile and physical shops. The VAD activity is the pole which required the heaviest investments in the years 2012, 2013 and The physical shops area was launched in October 2014 simultaneously with the mobile payment. The first half of 2015 marks the equilibrium point (break-even) of VAD France, now profitable. Over 2500 stores now use our Be2bill bank card payment system. Nearly 5500 merchants use at least one of the systems provided by Rentabiliweb, whether for payment, marketing or telecom. Thanks to the high number of signatures achieved, the Run Rate for the first half of 2015 stands at 1.04bn, despite the decision taken by Be2bill to close a key customer account ( 263m of annual business) for prudential reasons. Telecom activity is also showing sustained growth, in particular as regards AVS (Added Value Services). The B to B division EBIT stands at - 1.2m in the first half of 2015, up 0.5m on H This includes a nonrecurring loss of 0.8m. B to C division: high operating margins are sustained B to C turnover stands at 16.1m, down 15% on H Continued high gross operating margins, combined with reduced operating charges (- 1.4m) have resulted in stable EBIT, compared to H1 2014, of 4.6m. The EBIT margin has increased significantly, up 4 percentage points to 28.5%. 2

3 Corporate division: expenses under control Corporate division EBIT is up 0.2m, a 12% increase on H This variation is due in particular to rigorous control of expenditure, as well as certain non-recurring 2014 charges, such as the setting up of a key subsidiary in Amsterdam. A robust financial situation The Group has closed the first half of 2015 in a very healthy financial situation. Indeed, on 30 June 2015, surplus cash stood at 12.3m, up 2m compared to 31 December The 12.3m of surplus cash breaks down as follows: o 6.2m of cash on Group accounts; o 6.1m of cash on the Electronic Payments holding account. Equity amounted to 75m on 30 June The group Rentabiliweb is 100% self-financing as regards its investments and has no debt and no off balance sheet. Outlook Rentabiliweb is continuing its strategy of gaining market share in France and intends to expand abroad in the short term. The group upholds its installed Run Rate ambition for 31 December 2015 of between 1.5bn and 1.7bn, together with a signed Run Rate of between 2.6bn and 3bn. Next publication Publication of Q turnover: 5 November Read the press release on the group's corporate website: 3

4 ANNEXES Consolidated income statement Group Consolidated revenue 33,905 38, % Gross margin 19,819 21, % Gross margin rate 58.5% 55.0% -3.5 points EBITDA 1,782 2, % As a % of revenues 5.3% 5.9% +0.7 point EBIT 1,064 1, % As a % of revenues 3.1% 4.5% +1.4 point Operating income 1,193 1, % As a % of revenues 3.5% 4.4% +0.9 point Net consolidated income 1,630 1, % As a % of revenues 4.8% 4.5% -0.3 point B to B Consolidated revenue 15,081 22, % Gross margin 6,986 9, % Gross margin rate 46.3% 44.1% -2.2 points Other operating incomes % Recurring operating expenses (3,932) (5,618) +43% Payroll expenses (4,249) (4,985) +17% EBITDA (1,187) (672) +43.4% As a % of revenues -7.9% -3.0% +4.9 points Depreciations and amortizations (424) (481) +13% EBIT (1,612) (1,153) +28.5% As a % of revenues -10.7% -5.1% +5.6 points 4

5 B to C Consolidated revenue 18,824 16, % Gross margin 12,833 11, % Gross margin rate 68.2% 70.2% +2.0 point Other operating incomes % Recurring operating expenses (6,745) (5,343) -21% Payroll expenses (1,402) (1,446) +3% EBITDA 4,687 4, % As a % of revenues 24.9% 27.9% +3.0 points Depreciations and amortizations (95) % EBIT 4,592 4, % As a % of revenues 24.4% 28.5% +4.1 points Corporate Other operating incomes % Recurring operating expenses (801) (533) -33% Payroll expenses (1,020) (1,098) +8% EBITDA (1,718) (1,532) +10.8% As a % of revenues na na na Depreciations and amortizations (198) (154) -22% EBIT (1,916) (1,686) +12.0% As a % of revenues na na na 5

6 Consolidated balance sheet BALANCE SHEET: ASSETS H Goodwill 50,624 50,766 Fixed assets 5,687 5,152 Deferred tax assets 5,228 6,538 Customers and other debitors 22,634 27,377 Payable tax assets 3,425 4,340 Cash and cash equivalents 11,583 12,339 OVERALL TOTAL ASSETS 99, ,511 BALANCE SHEET: LIABILITIES S S Equity 72,327 75,050 Provisions Financial liabilities Deferred tax liabilities Suppliers and other creditors 22,569 26,619 Payable tax liabilities 2,834 3,466 OVERALL TOTAL LIABILITIES 99, ,511 6

7 Consolidated statement of cash flows (in thousands) 2014 Net earnings from integrated companies 2,364 1,751 Elim. of the amortisations and provisions 1, Elim. of the variation of deferred taxes (1,762) (681) Elim. of disposal capital gains or losses 31 6 Other proceeds and expenses having no incidence on the cash (309) 0 Incidence of the change in working capital requirements 3, Net acquisitions of fixed assets (1,153) (553) Net cash from operating activities * A 4,586 1,472 * Before financial investments, capital operations and financing operations Financial acquisitions and price supplement payments (126) 0 Variation of the financial assets 11 (6) Impact of changes in scope of consolidation 0 (0) Capital increase 6 0 Dividends paid 0 0 Treasury shares transactions Repayment of loans and other debts 0 0 Net cash from investment and financing operations B Change of the cash and cash equivalents A+B 5,022 1,533 Net cash and cash equivalents at beginning of the period 5,779 10,802 Net cash and cash equivalents at end of the period 10,802 12,339 Impact of exchange rate variations 0 3 Net increase (decrease) in cash and cash equivalents 5,022 1,533 7

8 (in thousands) Position at December 31, 2013 Consolidated statement of changes in equity Share capital Premiums Group reserves Currency translation differences Net profit for the year Revaluation reserves Treasury shares Instruments settled in the Company s shares Equity attributable to owners of the parent Noncontrolling interests Equity 23,396 14,105 30,202 (53) 2,869 0 (2,502) 2,973 70, ,042 Share capital increase Appropriation of earnings 0 0 2,869 0 (2,869) (0) 0 (0) Dividends paid Net profit for the period , ,393 (29) 2,364 Currency movements Changes in consolidation scope Other changes 0 0 (6) (422) Position at Decembre 31, ,398 14,109 33,064 (51) 2,393 0 (1,957) 2,551 73, ,531 Share capital increase Appropriation of earnings 0 0 2,393 0 (2,393) Dividends paid Net profit for the period , , ,750 Currency movements Changes in consolidation scope Other changes 0 0 (343) (276) 0 (276) Position at June 30, ,398 14,109 35,114 (7) 1,738 0 (1,890) 2,551 75, ,050 About Rentabiliweb Created in 2002 by Jean-Baptiste Descroix-Vernier, the Rentabiliweb Group is a major player in payment and the monetisation of electronic content in Europe. With over 270 employees in France and abroad, and traded on the Brussels and Paris Euronext stock exchange (compartment C), the group achieved turnover of 72 million euros in 2014 and 2.3 million euros in EBIT. Designated as an "Innovative company" by OSEO, Rentabiliweb is eligible for FCPIs (fonds commun de placement dans l'innovation, French Innovation Funds). CONTACTS Corporate Communications IMAGE SEPT Anne Auchatraire aauchatraire@image7.fr Claire Doligez cdoligez@image7.fr Investor relations CALYPTUS Mathieu Calleux mathieu.calleux@calyptus.net