Koropi, 31/08/2015

INFORM P. LYKOS S.A. (symbol ASE: LYK)          

Financial Results for the first half of 2015

The consolidated financial statements of Inform Lykos are published today August 31st 2015, 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., SAGIME GmbH (Austria), as well as the consolidated financial statements of TERRANE LTD (INFORM LYKOS SA - Romania). The aforementioned financial statements will be included in the consolidated financial statements of the parent company LYKOS AG with its headquarters in Austria.

During the year 2014, and especially on 31st December 2014, it finalized the sale of all shares of the company AUSTRIA CARD GmbΗ (card division) held by SAGIME GmbH, to the company LYKOS AG, after approval of the extraordinary meeting of the shareholders of INFORM P. LYKOS S.A.  The sale of the card division has affected the financial data, as the card division, at the comparative first half of 2014, is presented as a discontinued operation and also the comparative income statement has been restated to reflect the discontinued operation separately from continuing operations.

The sales (from continuing operations) of the Group in the first half of 2015 increased by 5% and reached € 31,1 mil., compared to € 29,6 mil. in the corresponding first half of 2014. The primary reason for this increase was the awarding of new contracts in printing and posting statements from Banks and Telecommunications, as well as new contracts for debit cards from the Greek banks. This increase was partially offset by a reduction in new contracts in the Public sector in Greece, as well as by a lower demand for our products and services from the Private sector in Greece. The earnings before interest, taxes, depreciation and amortization (EBITDA) of the Group reached € 2,1 mil., compared to € 1,8 mil. in the corresponding first half of 2014, representing an increase of 17,4%, mainly due to the reduction in selling and distribution expenses, and administrative expenses.

Specifically, by excluding the intercompany transactions, the sales of the parent company INFORM P. LYKOS S.A. reached € 16,5 mil. at the same levels to the corresponding first half of 2014.  Respectively, the sales of the subsidiary INFORM LYKOS S.A. in Romania reached € 16,4 mil. compared to € 14,4 mil. in the corresponding first half of 2014, representing increase 14,1%, due to the awarding of new contracts in printing and posting statements from the Telecommunications.

As a result of the above, the profitability figures of the Group (from continuing operations) are presented as following:

• Earnings before income tax, interest, depreciation and amortization (EBITDA) of the Group increased by € 0,3 mil. or 17,4%  and reached € 2,1 mil. compared to € 1,8 mil. in the corresponding first half of 2014,
• Earnings before income tax, interest (EBIT), decreased by € 0,1 mil. or 26,4%  due to increased depreciations and reached € 0,3 mil. compared to  € 0,4 mil. in the corresponding first half of 2014,
• Earnings before taxes (EBT) of the Group, amounted to losses € -241 thousands from losses € -86 thousands in the corresponding first half of 2014,
• The consolidated earnings after taxes (EAT) of the Group, amounted to losses € -158 thousands from losses € -312 thousands in the corresponding first half of 2014.

The operating cash flow of the Group (from the continuing activities) in the first half of 2015 was negative € -0,5 mil. compared to negative € -1,7 mil in the corresponding first half of 2014, improved by  € 1,2 mil.  The bank debt of the Group amounted to € 15 mil. in the first half of 2015,  lower by € 16,1 mil. compared to the year 2014, as, at 15th February 2015, the remaining balance of € 20 mil. bond loan was fully repaid.

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 leading presence in the Central and Eastern Europe in the area of Information Management. Inform is leader in the area of printing management, production of secured documents, 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 currently occupies about 440 employees.