Accessibility Statement Skip Navigation
  • Resources
  • Blog
  • Journalists
  • +44 (0)20 7454 5110
  • Client Login
  • Send a Release
Return to PR Newswire homepage
  • News
  • Products
  • Contact
When typing in this field, a list of search results will appear and be automatically updated as you type.

Searching for your content...

No results found. Please change your search terms and try again.
  • News in Focus
      • Browse News Releases

      • All Public Company News
      • All Multimedia News
      • View All News Releases

      • Regulatory News

      • D/A/CH Regulatory News
      • UK Regulatory News
      • View All Regulatory News

  • Business & Money
      • Auto & Transportation

      • Aerospace & Defense
      • Air Freight
      • Airlines & Aviation
      • Automotive
      • Maritime & Shipbuilding
      • Railroads & Intermodal Transportation
      • Supply Chain/Logistics
      • Transportation, Trucking & Railroad
      • Travel
      • Trucking & Road Transportation
      • View All Auto & Transportation

      • Business Technology

      • Blockchain
      • Broadcast Tech
      • Computer & Electronics
      • Computer Hardware
      • Computer Software
      • Data Analytics
      • Electronic Commerce
      • Electronic Components
      • Electronic Design Automation
      • Financial Technology
      • High Tech Security
      • Internet Technology
      • Nanotechnology
      • Networks
      • Peripherals
      • Semiconductors
      • View All Business Technology

      • Entertain­ment & Media

      • Advertising
      • Art
      • Books
      • Entertainment
      • Film & Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • View All Entertain­ment & Media

      • Financial Services & Investing

      • Accounting News & Issues
      • Acquisitions, Mergers & Takeovers
      • Banking & Financial Services
      • Bankruptcy
      • Bond & Stock Ratings
      • Conference Call Announcements
      • Contracts
      • Cryptocurrency
      • Dividends
      • Earnings
      • Earnings Forecasts & Projections
      • Financing Agreements
      • Insurance
      • Investments Opinions
      • Joint Ventures
      • Mutual Funds
      • Private Placement
      • Real Estate
      • Restructuring & Recapitalisation
      • Sales Reports
      • Shareholder Activism
      • Shareholder Meetings
      • Stock Offering
      • Stock Split
      • Venture Capital
      • View All Financial Services & Investing

      • General Business

      • Awards
      • Commercial Real Estate
      • Corporate Expansion
      • Earnings
      • Environmental, Social and Governance (ESG)
      • Human Resource & Workforce Management
      • Licensing
      • New Products & Services
      • Obituaries
      • Outsourcing Businesses
      • Overseas Real Estate (non-US)
      • Personnel Announcements
      • Real Estate Transactions
      • Residential Real Estate
      • Small Business Services
      • Socially Responsible Investing
      • Surveys, Polls & Research
      • Trade Show News
      • View All General Business

  • Science & Tech
      • Consumer Technology

      • Artificial Intelligence
      • Blockchain
      • Cloud Computing/Internet of Things
      • Computer Electronics
      • Computer Hardware
      • Computer Software
      • Consumer Electronics
      • Cryptocurrency
      • Data Analytics
      • Electronic Commerce
      • Electronic Gaming
      • Financial Technology
      • Mobile Entertainment
      • Multimedia & Internet
      • Peripherals
      • Social Media
      • STEM (Science, Tech, Engineering, Math)
      • Supply Chain/Logistics
      • Wireless Communications
      • View All Consumer Technology

      • Energy & Natural Resources

      • Alternative Energies
      • Chemical
      • Electrical Utilities
      • Gas
      • General Manufacturing
      • Mining
      • Mining & Metals
      • Oil & Energy
      • Oil & Gas Discoveries
      • Utilities
      • Water Utilities
      • View All Energy & Natural Resources

      • Environ­ment

      • Conservation & Recycling
      • Environmental Issues
      • Environmental Policy
      • Environmental Products & Services
      • Green Technology
      • Natural Disasters
      • View All Environ­ment

      • Heavy Industry & Manufacturing

      • Aerospace & Defence
      • Agriculture
      • Chemical
      • Construction & Building
      • General Manufacturing
      • HVAC (Heating, Ventilation & Air-Conditioning)
      • Machinery
      • Machine Tools, Metalworking & Metallurgy
      • Mining
      • Mining & Metals
      • Paper, Forest Products & Containers
      • Precious Metals
      • Textiles
      • Tobacco
      • View All Heavy Industry & Manufacturing

      • Telecomm­unications

      • Carriers & Services
      • Mobile Entertainment
      • Networks
      • Peripherals
      • Telecommunications Equipment
      • Telecommunications Industry
      • VoIP (Voice over Internet Protocol)
      • Wireless Communications
      • View All Telecomm­unications

  • Lifestyle & Health
      • Consumer Products & Retail

      • Animals & Pets
      • Beers, Wines & Spirits
      • Beverages
      • Bridal Services
      • Cannabis
      • Cosmetics & Personal Care
      • Fashion
      • Food & Beverages
      • Furniture & Furnishings
      • Home Improvement
      • Household, Consumer & Cosmetics
      • Household Products
      • Jewellery
      • Non-Alcoholic Beverages
      • Office Products
      • Organic Food
      • Product Recalls
      • Restaurants
      • Retail
      • Supermarkets
      • Toys
      • View All Consumer Products & Retail

      • Entertain­ment & Media

      • Advertising
      • Art
      • Books
      • Entertainment
      • Film & Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • View All Entertain­ment & Media

      • Health

      • Biometrics
      • Biotechnology
      • Clinical Trials & Medical Discoveries
      • Dentistry
      • FDA Approval
      • Fitness/Wellness
      • Health Care & Hospitals
      • Health Insurance
      • Infection Control
      • International Medical Approval
      • Medical Equipment
      • Medical Pharmaceuticals
      • Mental Health
      • Pharmaceuticals
      • Supplementary Medicine
      • View All Health

      • Sports

      • General Sports
      • Outdoors, Camping & Hiking
      • Sporting Events
      • Sports Equipment & Accessories
      • View All Sports

      • Travel

      • Amusement Parks & Tourist Attractions
      • Gambling & Casinos
      • Hotels & Resorts
      • Leisure & Tourism
      • Outdoors, Camping & Hiking
      • Passenger Aviation
      • Travel Industry
      • View All Travel

  • Policy & Public Interest
      • Policy & Public Interest

      • Animal Welfare
      • Corporate Social Responsibility
      • Economic News, Trends & Analysis
      • Education
      • Environmental
      • European Government
      • Labour & Union
      • Natural Disasters
      • Not For Profit
      • Public Safety
      • View All Policy & Public Interest

  • People & Culture
      • People & Culture

      • Aboriginal, First Nations & Native American
      • African American
      • Asian American
      • Children
      • Diversity, Equity & Inclusion
      • Hispanic
      • Lesbian, Gay & Bisexual
      • Men's Interest
      • People with Disabilities
      • Religion
      • Senior Citizens
      • Veterans
      • Women
      • View All People & Culture

  • Overview
  • Distribution
  • Paid Placement
  • Multichannel Amplification
  • Disclosure Services
  • SocialBoost
  • Rooms
    • MediaRoom
    • ESG Rooms
  • AI Tools
  • General Enquiries
  • Media Enquiries
  • Partnerships
  • Hamburger menu
  • Cision PR Newswire UK provides press release distribution, targeting, monitoring, and marketing services
  • Send a Release
    • Phone

    • +44 (0)20 7454 5110 from 8 AM - 5:30 PM GMT

    • ALL CONTACT INFO
    • Contact Us

      +44 (0)20 7454 5110
      from 8 AM - 5:30 PM GMT

  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists
  • News in Focus
    • Browse News Releases
    • Regulatory News
  • Business & Money
    • Auto & Transportation
    • Business Technology
    • Entertain­ment & Media
    • Financial Services & Investing
    • General Business
  • Science & Tech
    • Consumer Technology
    • Energy & Natural Resources
    • Environ­ment
    • Heavy Industry & Manufacturing
    • Telecomm­unications
  • Lifestyle & Health
    • Consumer Products & Retail
    • Entertain­ment & Media
    • Health
    • Sports
    • Travel
  • Policy & Public Interest
    • Policy & Public Interest
  • People & Culture
    • People & Culture
  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists
  • Overview
  • Distribution
  • Paid Placement
  • Multichannel Amplification
  • Disclosure Services
  • Cision Communications Cloud®
  • AI Tools
  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists
  • General Enquiries
  • Media Enquiries
  • Partnerships
  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists

Emakina Group: Sales Grow 25% in 2011, Supported by Geographical Expansion


News provided by

Emakina Group

16 Mar, 2012, 16:45 GMT

Share this article

Share toX

Share this article

Share toX

BRUXELLES, March 16, 2012 /PRNewswire/ --

The Emakina Group (Alternext Brussels: ALEMK) today communicates its annual results for 2011. Consolidated sales increased by 25% in 2011 compared to 2010. In parallel, the consolidated EBITDA increased by 5% in absolute terms. And finally, the consolidated net result (excluding amortization of goodwill) more than doubled, from 319,386 EUR in 2010 to 724,759 EUR in 2011. In order to support the Group's expansion, the Board of Directors will propose to the General Assembly that no dividend be distributed.

Sales outside Belgium increase by 54%

In 2011, the Emakina Group's posted sales of 41,337,106 EUR compared to 33,105,222 EUR in 2010, an increase of 25%. At constant scope, sales increased by 20%.

This consolidated growth of sales by 25% is the combination of annual sales growth of 16% in Belgium and 54% for entities outside Belgium. These figures confirm the Group's strategy of geographical expansion and its increasing reputation outside Belgium. During the second half of 2011, Emakina inaugurated its UK subsidiary, Emakina.uk Ltd, based in London.

In 2011, new clients such as AXA, Federal Mogul, Bpost, DG Enterprise, European Ombudsman, M6, Seton, Colruyt, VAB and Elia chose an Emakina Group agency as their partner for the development of their presence in new media.

EBITDA increases by 5%

EBITDA increased by 5% in absolute terms, but fell as a percentage of sales from 7.9% of sales in 2010 to 6.7% of sales in 2011. At constant scope, EBITDA went from 7.9% to 6.6% of sales between 2010 and 2011. As a reminder, the EBITDA at June 30 2011 amounted 759,852 EUR which means an EBITDA of 1,989,431 EUR over the second half of 2011 compared to 1,929,739 EUR for the second half of 2010, which confirms the seasonal aspect of the business.

Consolidated net result before amortization of goodwill doubles

The consolidated net result before amortization of goodwill amounted to 724,759 EUR in 2011 compared to 319,386 EUR in 2010. This increase is explained by the improvement of the operational result by 181,843 EUR combined with a stable financial result and a net tax charge which fell by 232.292 EUR.

Finally, it is important to underline the fact that the amortization of goodwill rose by 342.743 EUR between 2010 and 2011 due to the evolution of Group investments. This element of Belgian GAAP, which implies compulsory amortization of goodwill weighs significantly on the consolidated net result for 2011, which would amount to a profit of 724,759 EUR instrad of a loss of 836,302 EUR.

Emakina continues its investment efforts, to confirm its position as market leader:

  1. The development of its service offering in the « social » and « mobile » areas represents an investment of more than a million euros, which weighed on the 2011 financial year. These investments assured high growth in these promising fields for the future.
    In 2011, these new fields of expertise represented nearly 5% of sales.
  2. 2011 was marked by the development of Emakina's reputation outside Belgium, in particular in France, in the Netherlands and by the launch of a new subsidiary in the United Kingdom. These investments contributed to the development (+54%) of activities outside Belgium.
  3. The acquisition of the advertising agency Troy, in March 2011, further reinforced Emakina's « full service » strategy for brand management. This acquisition allowed Emakina to strengthen its competencies in brand strategy and the creation of multichannel campaigns.

Talent retention and management of production costs remain major challenges for the Group in an economic climate that does not favour the increase of sales prices.

In order to support its expansion and reinforce its equity, the Board of Directors of the Emakina Group will propose to the General Assembly of April 2012 that no dividend be distributed for the first time in 3 years.

Prospects for 2012

The Emakina Group's management foresees a one-digit increase in sales numbers for the entire 2012 year thanks to its existing commercial pipeline and the geographic expansion of the group.

Auditor's Report

The auditors have confirmed that their review of the consolidated accounts has been fully completed and has not revealed any significant corrections that should be made to the accounting information included in this press release.

Belgian GAAP

All consolidated figures were established according to Belgian GAAP (in particular regarding systematic goodwill amortization). These figures represent a summary of financial results that will be published in detail in the annual report available on March 31, 2012.

Financial Calendar

  • Ordinary General Assembly 2012: 23 April 2012
  • Annual Report (Brochure): 2 April 2012
  • Half-Year report: 7 September 2012

CONSOLIDATED FIGURES 2011

EMAKINA GROUP SA

                      CONSOLIDATED RESULTS (EUR) *       31/12/2011  31/12/2010  31/12/2009
    TOTAL REVENUES                                       41.337.106  33.105.221  31.782.957
    Net revenues                                         40.265.704  31.537.104  31.053.797
    Variation of work in progress                           452.051     930.285     475.485
    In-house production                                     241.097           0           0
    Other operating income                                  378.254     637.832     253.676
    TOTAL OPERATING COSTS (before depreciation and 
    amortization)                                       -38.587.823 -30.485.186 -29.454.548
    Purchase of equipment and services related to sales -21.129.943 -15.464.514 -15.053.129
    Payroll costs                                       -17.339.864 -14.874.268 -14.331.711
    Other operating costs                                  -118.016    -146.404     -69.708
    OPERATING PROFIT (before depreciation and amortization)
    = EBITDA                                              2.749.283   2.620.035   2.328.409
    DEPRECIATION AND AMORTIZATION                          -843.072    -895.667    -802.255
    Depreciation and amortization of (in)tangible assets   -861.492    -847.489    -741.054
    Write-off on trade receivables                          -13.746     -58.775     -32.641
    Litigation accruals                                      32.166      10.597     -28.560
    OPERATING PROFIT (EBIT)                               1.906.211   1.724.368   1.526.154
    NET FINANCIAL RESULT                                   -324.140    -356.725    -362.910
    Financial income                                         74.884      30.983       3.878
    Financial charges                                      -399.024    -387.708    -366.788
    CURRENT PRE-TAX PROFIT BEFORE AMORTIZATION ON 
    GOODWILL                                              1.582.071   1.367.643   1.163.244
    Amortization on goodwill**                           -1.561.061  -1.218.318    -937.527
    CURRENT PRE-TAX PROFIT                                   21.010     149.325     225.717
    NET EXTRAORDINARY RESULT                               -368.363    -326.734    -194.085
    PRE-TAX PROFIT                                         -347.353    -177.409      31.632
    Deferred taxes                                         -260.837    -301.144        -457
    Current income tax                                     -228.112    -420.096    -412.075
    SHARE IN RESULTS OF EQUITY-METHOD ENTITIES (profit)           0        -282      51.490
    NET PROFIT BEFORE AMORTIZATION ON GOODWILL              724.759     319.386     608.117
    NET PROFIT                                             -836.302    -898.932    -329.410
    A. Share of third parties                                32.041      44.856     296.460
    B. Group share                                         -868.343    -943.788    -625.870
    SHARE DATA                                             31/12/2011 31/12/2010 31/12/2009
    NUMBER OF SHARES                                        3.833.739  3.796.869  3.496.708
    NUMBER OF SHARES & SHARE OPTIONS                        4.097.089  4.021.779  3.662.338
    CURRENT PRE-TAX PROFIT (in EUR)                            0,0055     0,0393     0,0646
    CURRENT PRE-TAX PROFIT / SHARE & SHARE OPTION (in EUR)     0,0051     0,0371     0,0616
    GROUP SHARE / SHARE (in EUR)                              -0,2265    -0,2486    -0,1790
    GROUP SHARE / SHARE & SHARE OPTION (in EUR)               -0,2119    -0,2347    -0,1709
    NET PROFIT / SHARE (in EUR)                               -0,2181    -0,2368    -0,0942
    NET PROFIT / SHARE & SHARE OPTION (in EUR)                -0,2119    -0,2235     -0,090

* Established according to Belgian GAAP

** According to valuation rules, goodwill are amortized on a period of 8 years independently from any potential considerations of impairment in accordance with Belgian GAAP

The consolidated income statement for 2011 includes 12 months of all group subsidiaries except for Emakina Wallonie (ex-Troy Agency), which is consolidated since April 1, 2011, which means 9 months of profit and loss.

                 ASSETS (EUR) *               31/12/2011 31/12/2010 31/12/2009
 
    NON CURRENT ASSETS                         8.873.387  9.287.012  6.942.275
    Formation expenses                           269.914    385.692    504.836
    Intangible assets                            836.213    437.849    512.061
    Goodwill                                   6.438.421  7.390.041  4.823.921
    Tangible assets                            1.088.537    849.099    899.268
    Financial assets                             240.302    224.331    202.189
    CURRENT ASSETS                            20.442.876 16.311.068 15.809.083
    Stocks and contracts in progress           3.616.979  3.094.317  2.164.032
    Deferred taxes                               387.874    563.162    897.846
    Amounts receivable with one year          13.826.031 11.324.959 10.859.372
    Investments                                        0      1.348    299.467
    Cash at bank and in hand                   2.203.255    998.071  1.353.283
    Deferred charges and accrued income          408.737    329.211    235.083
    TOTAL ASSETS                              29.316.263 25.598.080 22.751.358
 
               LIABILITIES (EUR) *            31/12/2011 31/12/2010 31/12/2009
 
    EQUITY                                    10.097.133 11.016.293  9.238.205
    MINORITY INTERESTS                             7.460     51.258    406.833
    PROVISION FOR LIABILITIES AND CHARGES         16.932    161.097    146.694
    DEFERRED TAXES AND LATENT TAXATION
    LIABILITIES                                  110.502    136.498    170.037
    CREDITORS                                 19.084.236 14.232.935 12.789.590
    Amounts payable after one year               443.356    120.720    515.272
    Amounts payable within one year           18.412.781 13.971.332 12.128.185
    Current portion of amounts payable after
    one year                                   1.215.005  1.001.984  1.227.194
    Financial debts                            2.064.400  1.202.057  1.016.521
    Trade debts                                4.723.962  3.687.017  2.893.421
    Advances received on contracts in
    progress                                   4.953.413  3.981.846  2.650.485
    Amounts payable on taxes, remuneration
    and social security                        3.638.534  2.911.977  2.832.624
    Other amounts payable                      1.817.467  1.186.451  1.507.940
    Accrued charges and deferred income          228.099    140.882    146.133
    TOTAL LIABILITIES                         29.316.263 25.598.080 22.751.358

* Established according to Belgian GAAP

In accordance with the new rules of Alternext Brussels, the current annual press release has become optional. This press release will be followed by the publication of the 2011 annual report of Emakina Group, which will include the full information required. This report will be available on our site,http://www.emakina.com  (section "investors") from March 31, 2012 in accordance with the legal requirements in this matter.

About Emakina Group SA

The Emakina Group is a European network of interactive agencies that helps its clients to benefit from the integration of digital communication into their activities. The agencies within the Emakina Group are Emakina Belgium (Brussels), Emakina.EU (Brussels), Emakina/Media (Brussels), Design is Dead (Antwerp), The Reference (Gent), Emakina.NL (Rotterdam), Emakina.FR (Paris & Limoges). Emakina Group has developed a service portfolio around the following four poles: strategic consultancy; brand activation, web building; and web applications. Client portfolio includes major Belgian, Dutch and French companies: Audi, Belgacom, BNP Paribas Fortis, Brussels Airlines, Crédit Agricole, Delhaize, Deutsche Bank, Dexia, Electrabel, ING, Keytrade, KPN, Legrand, Microsoft, Nestlé, Orange, Panasonic, Samsung, Schweppes, Seat, Toyota, Unilever and the European institutions. Emakina is listed on the Alternext market of Euronext Brussels stock exchange (mnemo: ALEMK) since July 7, 2006.

http://www.emakina.com

Modal title

Contact PR Newswire

  • +44 (0)20 7454 5110
    from 8 AM - 5:30 PM GMT
  • General Enquiries
  • Media Enquiries
  • Partnerships

Products

  • Content Distribution
  • Multimedia Services
  • Disclosure Services
  • Cision Communications Cloud®

About

  • About PR Newswire
  • About Cision
  • Partnering Opportunities
  • Careers
  • Accessibility Statement
  • APAC
  • APAC - Simplified Chinese
  • APAC - Traditional Chinese
  • Brazil
  • Canada
  • Czech
  • Denmark
  • Finland
  • France
  • Germany
  • India
  • Indonesia
  • Israel
  • Japan
  • Korea
  • Mexico
  • Middle East
  • Middle East - Arabic
  • Netherlands
  • Norway
  • Poland
  • Portugal
  • Russia
  • Slovakia
  • Spain
  • Sweden
  • United States
  • Vietnam

My Services

  • All News Releases
  • Customer Portal
  • Resources
  • Blog
  • Journalists
  • Data Privacy

Do not sell or share my personal information:

  • Submit via Privacy@cision.com 
  • Call Privacy toll-free: 877-297-8921

Contact PR Newswire

Products

About

My Services
  • All News Releases
  • Customer Portal
  • Resources
  • Blog
  • Journalists
+44 (0)20 7454 5110
from 8 AM - 5:30 PM GMT
  • Terms of Use
  • Privacy Policy
  • Information Security Policy
  • Site Map
  • RSS
  • Cookie Settings
Copyright © 2025 PR Newswire Europe Limited. All Rights Reserved. A Cision company.