Emakina Group: 20% Sales Growth, Operating Margin up Almost 50% in the First Half of 2015

BRUSSELS, September 18, 2015 /PRNewswire/ --

Emakina Group (Alternext Brussels (ALEMK) published its results for the first half of 2015. Compared with the first half of 2014, consolidated sales rose by 20%, and earnings before interest, taxes, depreciation and amortisation are up by 49%. Consolidated net profit (excluding goodwill amortisation) amounts to EUR 1,067,684 compared with EUR 129,115 last year. This performance is mainly due to the growth of business across the entities of the group. 

Sales outside Belgium: 54% of the total consolidated income 

During the first half of 2015, sales amounted to EUR 32,462,191 compared with EUR 27,132,701 in 2014, an increase of 19.6% (-18.2% at constant scope).

54% of this consolidated income was generated outside Belgium, (50% in 2014), reflecting market share acquisition abroad in line with the European expansion strategy.

The acquisition of diamond:dogsIgroup (Vienna, Salzburg, Zurich), with about 80 people confirms Emakina's ambition to operate across Europe, offering international clients the best possible support.

Operating profit (before amortisation) up by 49% 

The EBITDA reached EUR 2,453,590 compared with EUR 1,648,152 in 2014.

As a percentage of total sales, it rose from 6.1% to 7.6%, mainly by improved resource capacity use and moderate cost increases.

Net result: profit of EUR 1,067.684 before and EUR 240,704 after amortisation of goodwill  

The net result rose by EUR 938,569, following the development in the current result, lack of an extraordinary result in 2015 compared with 2014 and the limited increase in tax burden.

In the first half of 2015, amortisation of consolidated differences had a negative impact of EUR 826,980 on the company's net result compared with EUR 860,800 in 2014, further to the acquisition of Relephant. Belgian accounting law imposes systematic amortisation, weighing significantly on the consolidated net result.

Financial quality remained steady in the period thanks to a level of financial indebtedness in line with the group's growth, a moderate increase in the working capital requirement and the availability of appropriate and renewed credit lines.

Emakina expects double-digit organic growth in sales for 2015 as a whole on the basis of the commercial debt and the group's international expansion.

Please click for the official release in French and the full translation in English and Dutch.  

Emakina Group
Rue Middelbourg 64A
1170 Brussels
Belgium

Luc Malcorps, PR
+32(0)2-7887973
lma@emakina.com