6 Months After the Linkury Acquisition: Algomizer Group's Revenues Increase by 7,700% in 2017 to NIS 106M (per Audited Pro Forma Statement)

NEW YORK, April 2, 2018 /PRNewswire/ -- Algomizer Group (TASE: ALMO), specializing in the online marketing field, reports its 2017 financial results.

For the first time, the annual statements include the effects of the acquisition of Linkury by Algomizer in H2 2017.

The consolidated statements, reflecting the Group's revenues in 2017, include Linkury from the acquisition date in H2 2017, and demonstrate an impressive growth of revenues to NIS 58.6M – a 7,700% growth compared to H2 2016.

Linkury's revenues in 2017 amounted to NIS 106M (NIS 58.6M of which were generated after its acquisition by Algomizer). These results indicate a 52% growth (USD basis) compared to Linkury's revenues in 2016, as well as improved gross profitability.

As aforementioned, Algomizer only recognizes Linkury's revenues from H2 onward, after the transaction to acquire 100% of Linkury's shares, including its subsidiaries and their subsidiaries, for $ 11.8M in cash and securities, had been accomplished in July 2017. Prior to the transaction, Linkury's forecasted revenues were estimated at NIS 95M.

Algomizer released a forecast of Linkury's revenues for 2018, in which the Group estimates an additional growth to reach NIS 137M.

Algomizer Group's loss (expenses relating to the acquisition deal and non-cash flow expenses subtracted) since the acquisition decreased 60% and amounted to NIS 5M, compared to NIS 13M in 2016.

The operational loss amounted to NIS 20M, and it includes NIS 15M of non-cash flow expenses, most of which are related to the financing of the Linkury acquisition transaction and its execution.

In fact, Linkury's profit since its acquisition had offset Algomizer's loss in H2, as well as some of its losses before the acquisition (transaction costs subtracted).

Noam Band, CEO of Algomizer, said: "We are proud of the impressive revenues we are reporting and encouraged further by the continuous growth trend. Linkury's consistent growth of revenues attests to the contribution of its acquisition and merger to the Group's business. We see indices in Linkury that predict further growth, which will generate future revenues for Algomizer and drive the entire Group to profitability."

Contact information:
[email protected]
+1-888-508-6010
http://www.algomizer.com

SOURCE Algomizer