Generix acquires Keyneo to create a global SaaS leader in commerce solutions View the press release

Retail
May 29, 2017

2016/2017 Results Ebitda of 5% of revenue

Paris, May 29, 2017 – Generix Group, Industrial, Logistical and Retail Ecosystems provider with leading Collaborative Software Solutions, issued today the results for its fiscal year 2016/2017 ended March 31, 2017.

Press release

Revenue growth of 8%, 21% of which is generated by SaaS The Generix Group has recorded recurring revenue for its publishing business (Maintenance and SaaS) representing over 62% of its revenue for the fiscal year. Revenue for SaaS business amounted to €21.6 million (+21%), becoming the largest contributor to the Group’s revenue. With an average term of 3.1 years, new SaaS contracts concluded will, once the various deployments are completed, allow us to generate additional annual revenue of close to €4.4 million, which is an increase of almost 10% in CMRR*.

Twelve months March 31 Variation IFRS consolidated accounts, in millions of Euros (unaudited) 2017 2016 m€ % Revenues 63,0 58,4 4,6 8% Which licenses 4,6 4,1 0,5 13% Which maintenance 17,6 17,4 0,1 1% Which SaaS 21,6 17,8 3,7 21% Which Consulting Services 19,3 19,0 0,3 1% Operational expenses / other income from operations -61,0 -55,0 -5,9 11% Profit (loss) from current operations 2,0 3,3 -1,3 -39% Other operating income and expenses -0,6 -1,1 0,5 -46% Profit (loss) from operations 1,5 2,3 -0,8 -36% Financial expenses -0,3 -0,2 -0,1 39% Loss before income taxes 1,1 2,0 -0,9 -45% Income taxes benefit -1,1 -0,7 -0,3 47% Net result after tax 0,0 1,3 -1,3 -97% Net result -0,2 1,2 -1,4 -115%

The Group has recorded stable EBITDA of 5% of revenue, including:

– €2.1 million on a comparable basis, a reduction of €0.9 million, primarily due to an increase in the Group’s Sales & Marketing resources,

– €0.8 million originating from Sologlobe’s North American business over the first 6 months of consolidation, from October 3, 2016, to March 31, 2017.

On a Group level, the net impact of the costs of activated software and net allocations to depreciation and provisions amounts to – €0.9 million, compared to €+0.3 million for the previous fiscal year. The variation in these items, with no cash flow impact, relates to reversals of provisions recorded for the previous fiscal year following the switch of old debts into irrecoverable debts and the outcome of certain disputes, as well as amortization recorded since the past fiscal year for investment in relocating a site. Hence, current operating income amounts to €2.0 million.

Other operating expenses and revenues, amounting to -€0.6 million are singled out in the income statement for their non-recurring nature. For the past fiscal year, they equate specifically to expenses relating to acquisitions. It should not be forgotten that operating expenses for the previous fiscal year related primarily to a site relocation (- €0.8 million) as well as part of the acquisition price for the company GMI Connectivity to be recorded in the income statement(- €0.3 million).

After taking account of the financial income statement and tax (which has increased by € 0.6 million, due to the impact on deferred taxes of the future reduction in corporate tax rates), the Group’s net income reached the breakeven point for the fiscal year 2016/2017 (including – €0.5 million on a comparable basis with the previous fiscal year and + €0.5 million generated by Sologlobe). An improvement in net debt of €0.7 million before taking account of financing for Sologlobe (€4.5 million)

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2016/2017 Results Ebitda of 5% of revenue

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