Financial results for the nine months period of 2015
Koropi, 30/11/2015
INFORM P. LYKOS S.A. (symbol ASE: LYK)
Financial Results for the nine months period of 2015
The consolidated financial statements of Inform Lykos are published today November 30th 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).
During the year 2014, and especially on 31st December 2014, the sale of all shares of the company AUSTRIA CARD GmbΗ (card division) held by SAGIME GmbH, to the company LYKOS AG, was finalized 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 nine months period 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 nine months period of 2015, increased by 11,4% and reached € 48,3 mil., compared to € 43,3 mil. in the corresponding nine months period of 2014. The primary reason for this increase was the awarding of new contracts from Banks and Telecommunications. The earnings before interest, taxes, depreciation and amortization (EBITDA) of the Group reached € 3,2 mil., compared to € 2,2 mil. in the corresponding nine months period of 2014, representing an increase of 44,9%, mainly due to the reduction in selling, distribution and administrative expenses.
Specifically, by excluding the intercompany transactions, the sales of the parent company INFORM P. LYKOS S.A. reached € 25,5 mil. compared to € 22,4 mil. in the corresponding nine months period of 2014, representing increase 13,8%. Respectively, the sales of the subsidiary INFORM LYKOS S.A. in Romania reached € 22 mil. compared to € 19,5 mil. in the corresponding nine months period of 2014, representing increase 13,2%.
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 € 1 mil. or 45% and reached € 3,2 mil. compared to € 2,2 mil. in the corresponding nine months period of 2014,
- Earnings before income tax, interest (EBIT), increased by € 0,4 mil. or 217,7% and reached € 0,5 mil. compared to € 0,1 mil. in the corresponding nine months period of 2014,
- Earnings before taxes (EBT) of the Group, amounted to losses € -0,3 mil. from losses € -0,6 mil. in the corresponding nine months period of 2014,
- The consolidated earnings after taxes (EAT) of the Group, amounted to losses € -0,2 mil. from losses € -1 mil. in the corresponding nine months period of 2014.
The operating cash flow of the Group (from the continuing activities) in the nine months period of 2015 is positive € 0,6 mil. compared to negative € -0,7 mil in the corresponding nine months period of 2014, improved by € 1,3 mil. The bank debt of the Group amounted to € 15 mil. in the nine months period of 2015, lower by € 16 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. The Group is activated internationally and 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 430 employees.