INFORM P. LYKOS HOLDINGS S.A.

Financial Results for the year 2013

Koropi,31/03/2014

 

 

INFORM P. LYKOSS.A.( SymbolASE: LYK)          

Financial Results for the year 2013

 

The consolidated financial statements of Inform Lykos are published todayMarch 31st 2014, according to the International Financial Reporting Standards (I.F.R.S.) and include the companies: INFORM P. LYKOS S.Α., LYKOS PAPERLESS SOLUTIONS S.Α., ALBANIAN DIGITAL PRINTING SOLUTIONS Sh.p.k., as well as the consolidated financial statements of TERRANELTD(INFORM LYKOS SA -Romania) and SAGIME GmbH (AUSTRIACARDGmbH -Austria).

 

During the year 2013, the sales increased significantly in all the countries, where the Group operates.  Τhe strengthening of the sales was incidental to the improvement in operating results of the Group, which was particularly important in the Printing Sector in Greece and Romania, where the earnings before income tax, interest, depreciation and amortization (EBITDA) increased by € 2,1 mil., or 223% and reached € 3 mil. compared to € 0,9 mil. in 2012, whereas the profitability in the Sector of production and personalization of “Smart” Cards affected by extraordinary expenses for the operation of the new center of card production in Romania and the new centers of card personalization in Turkey and Poland.

The main figures of the Group are presented as following:

  • Consolidated sales reached € 116,6 mil. compared to € 98,8 mil. in 2012, representing an increase of 18% in comparison with 2012,
  • Earnings before income tax, interest, depreciation and amortization (EBITDA) of the Group improved by € 1,3 mil. or 14% and reached € 10,6 mil. compared to € 9,3 mil. in 2012,
  • Consolidated earnings before income tax, interest (EBIT), increased by € 1 mil. or 23%  and reached   € 5,1 mil. compared to  € 4,1 mil. in 2012,
  • Earnings before taxes (EBT) of the Group, reached € 3,7 mil. from € 3,3 mil. in 2012, improved by € 0,4 mil. or 10%,
  • Consolidated earnings after taxes (EAT) of the Group, reached € 2,1 mil. from € 1,7 mil. in 2012, increased by € 0,3 mil. or 19,5%,
  • Finally, consolidated earnings after taxes and minorities (EATAM), improved by € 0,3 mil. and reached  € 2,1 mil. from € 1,8 mil. in 2012.

 

Specifically, regarding the business by geographical segment, by excluding the intercompany sales:

InGreece, the sales of the parent company INFORM P.LYKOS S.A for the year 2013 increased by 20% compared to 2012, reaching € 30,9 mil. from € 25,7 mil. in 2012. With the most competitive commercial policy followed by the parent company, was achieved to increase significantly the market shares in the Greek market, to expand in new projects in all the sectors where operates, as well as to develop the network of exports. As result of the increase of sales volumes, the earnings before income tax, interest, depreciation and amortization (EBITDA), increased by 314% compared to 2012 and reached to € 1,8 mil, from € 0,4 mil. in 2012.

 

InAustria, the sales of the subsidiary Austria Card GmbH for the year 2013,  reached € 62,6 mil. compared to € 52,4 mil. in 2012, increased by 19,5% in comparison with previous year. This increase, is due to the fact that 2013 was the year of mass renewals in the Austrian banking cards.  The earnings before income tax, interest, depreciation and amortization (EBITDA) for the year 2013, declined by 6,1%  to € 7,8 mil. compared to € 8,3 mil. in 2012,  affected by extraordinary expenses for the operation of the new centers inRomania,TurkeyandPoland.

 

InRomania, the sales of the subsidiary INFORM LYKOS S.A. increased by 9,8%  compared to 2012 and reached € 22,4 mil. from € 20,4 mil. in 2012, mainly due to the implementation of  a new service in statement mailing and postal fees management, as well as the acquisition of  significant new projects mainly in statement enveloping and mailing services in the Sector of  Common Utilities, with result the strengthening of  its share in the Romanian market. As result of the increase in sales, in combination with savings in operating expenses, earnings before income tax, interest, depreciation and amortization (EBITDA) for the year 2013, increased by 147,9% compared to 2012, and reached  € 1,3 mil. from € 0,5 mil. in 2012.

 

In 2013, the Group had increased needs for stocks inAustriamainly due to the mass renewals in the Austrian banking cards, as well as for investments for the optimal operation of the new centers of production and personalization of cards inRomania,TurkeyandPoland, with result the increase in net debt by € 9,5 mil. compared to 2012. The net debt of the Group amounted to € 33,9 mil. from € 24,4 mil. in 2012, and the cash & cash equivalents amounted to € 8 mil. compared to € 7,7 mil. in 2012.

 

As stated by Panagiotis Spyropoulos, Group Chief Executive Officer, “During the year 2013, the consolidated sales increased significantly in all the countries where the Group operates, while in parallel all the profitability figures of the Group presented improved. The Printing Sector presented significant increase, both in sales and operating profitability, as a result of the mixture of the most competitive commercial policy, the increase in shares market and the strengthening of its leading position in the market. The Sector of production and personalization of “Smart” Cards reinforced significantly its sales, whereas through the investments in the new centers inRomania,TurkeyandPolandstrengthened its leading position in the area of Central andEastern Europe, and in parallel enhanced the perspectives for further development of its sales and market shares. In 2014, we will continue our efforts, focusing strongly in the Sector of production and personalization of “Smart” Cards, both in the improvement of profitability and further development and expansion into new markets ”.

 

About  Inform Lykos (www.lykos.gr)

Inform Lykos was founded in 1897, has been listed on the Athens Stock Exchange since 1994 and today  is an international Group with a leading presence in the Central andEastern Europein the area of Information Management & Business Communication. The Group is active internationally in development, production and personalization of Smart Cards for Banks, Telecommunications, Public Organizations and Retail chains holding international certificates by Visa, MasterCard & Diners. Inform Lykos is a leader in the area of printing management, production of secured documents, production of prepaid cards and Business Process Outsourcing offering services of printing and posting statements, electronic presentation of statements and printing management for Banks, Telecommunication companies, Public sector and Industrial/Trade companies. The Group Inform Lykos currently occupies about 880 employees.