Emakina Group Results 2019: More Sustained Growth in Activities in the Second Half of the Year and Operating Performance Under Control

Inside & Regulated information - Summary of the official statement in French

BRUSSELS, March 27, 2020 /PRNewswire/ -- Emakina Group (Euronext GROWTH Bruxelles : ALEMK), leading international group of independent agencies, announces its 2019 annual results. Consolidated sales amounted to EUR 96,618,148 compared with EUR 92,389,601 in 2018, an increase of 4.6% (+4.2% at constant scope), boosted by 5.4% growth in activities outside Belgium.

• Consolidated sales: +4,6%
  EUR 96,618,148 compared with EUR 92,389,601 in 2018,
  (+4.2% at constant scope).
  
  
• EBITDA: -3,7%
  EUR 5,881,414 compared with EUR 6,107,455 in 2018,
  (as a percentage of total sales: from 6.6% to 6.1%).
  
  
• Result before taxes: EUR 235,278 
  Decrease of EUR 857,954 compared to EUR 1,093,232 in 2018.

Current profit under control and net result near break-even

The current profit before tax amounted to EUR 1,256,070 in 2019.

This may be attributed to the operating performance, and the increase in amortisation and write-downs, partly offset by a better financial result owing in particular to the fall in charges for the amortisation of goodwill.

Financial health

The group's financial health was maintained thanks to a net result close to zero, a level of financial indebtedness in line with the growth in activities and the availability of proportionate credit lines.

New business

Some major new clients: Allergan, Al Tayer Group, Arcelik, Basic-Fit, Beko, Brussels Expo, Chalhoub Group, Courrèges, Fluxys, FrieslandCampina, Gulf Marketing Group, Heineken Blade, Honda, Majid Al Futtaim Fashion, Moteo, Nike, Nuskin, Olympique de Marseille, Sodexo, Stockmann, Suitsupply, Sunweb, TVH, UnifiedPost, and VOO.

Continued acquisitions

The group further expands via external operations, in line with the strategy set out.

In October 2019, Emakina Group acquired 100% of the shares in Cloudworks Consulting DMCC, an innovative Cloud IT consultancy firm with offices in Dubai and 27 experts, through its subsidiary Emakina FZ‑LLC, based in Dubai. This confirms Emakina's ambition to be a sound partner in the Middle East.

Events after closure, outlook for 2020

The coronavirus pandemic will affect Emakina's economic performance from March 2020.
This will be the subject of a specific communication at a later stage. The management has set in motion several precautionary measures to limit the impact of this pandemic on the group's margins and cash position.

Summary of the official French statement

www.emakina.group 

Frédéric Desonnay 
CFO Emakina Group
[email protected]