Half-year results for 2014

PRESS RELEASE  – Regulated information – Wetteren, Belgium,  27 August 2014
smartphoto group – Half-year results for 2014

o    E-commerce:

  • The revenue decreased slightly from EUR 13.05 million to EUR 12.35 million. This means that the  revenue in the second quarter remained almost stable;
  • The REBITDA evolved quite favorably and increased with 73.2% from EUR -0.70 million in the first half of 2013 to EUR -0.19 million in 2014.

o    Wholesale:

  • Since the beginning of June 2014 the wholesale activity of the Wholesale segment phased out (see press release of 2 June 2014). Taken into account the gradual ending of the wholesale activities, the results of this activity were recognized as ‘Discontinued operations’ as from 30 June 2014. The comparative figures for the first half-year of 2013 have been restated in accordance with IFRS 5.       (*)

o    Group:

  • Revenue decreased slightly by -5.4% to EUR 12,17 million compared to 12.87 million at 30 June 2013;
  • Result from continuing operations, adjusted for non-cash items, evolved with an increase of 34.1% from EUR -1.01 million to EUR -0.66 million;
  • Net financial debt decreased to EUR 3.82 million compared to EUR 3.94 million in the previous year.

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