August 17th, 2016 - Breukelen, the Netherlands
Press release interim consolidated financial statements TIE Kinetix N.V.
Financial information in this interim report is unaudited
TIE Kinetix today released its interim management statement for Q3 of its fiscal 2016, covering the period April 1, 2016 – June 30, 2016.
hird Quarter results (period April 1 – June 30, 2016)
- Order intake of € 3.297k (Q2 2016: € 3.225k)
- SaaS and hosting revenues grows to € 2.536k (Q2 2016: € 2.419k)
- Total revenue (excl. EU projects) grows with 8% to € 5.068k (Q2 2016: € 4.694k)
- EBITDA, excl. EU projects, amounts to € 824k (Q2 2016: € 480k)
- EBIT, excl. EU projects, amounts to € 504k (Q2 2016: € 178k)
- EBITDA/EBIT impacted by EU projects loss of - €183k
Table 1: Q3 Operational performance
Table 2: Q3 EU projects and total performance
TIE Kinetix, the leading provider of cloud-managed Integration, Analytics, Demand Generation and E-Commerce services today released its interim management statement for Q3 of its fiscal 2016, covering the period April 1, 2016 – June 30, 2016.
Refinancing / deleverage
In Q3 of 2016, usage of an overdraft facility with DZ bank (approx. €450k) has been replaced with internal financing. Furthermore, agreement was reached with TFAG to offset the remainder of the acquisition loan payable to TFAG (amounting to €800k) against accounts receivable from trade creditor TFAG. The result of both refinancing measures is a deleverage of some € 1,25 million. Both measures have been completed in Q3.
Group cash position at the end of June 2016 amounted to € 1.992k (March 30, 2016: € 1.791k).
This document may contain expectations about the financial state of affairs and results of the activities of TIE Kinetix as well as certain related plans and objectives. Such expectations for the future are naturally associated with risks and uncertainties because they relate to future events, and as such depend on certain circumstances that may not arise in future. Various factors may cause real results and developments to deviate considerably from explicitly or implicitly made statements about future expectations. Such factors may for instance be changes in expenditure by companies in important markets, in statutory changes and changes in financial markets, in the EU grant regime, in the salary levels of employees, in future borrowing costs, in future take-overs or divestitures and the pace of technological developments. TIE Kinetix therefore cannot guarantee that the expectations will be realized. TIE Kinetix also refuses to accept any obligation to update statements made in this document.
For further information, please contact:
TIE Kinetix N.V.
Jan Sundelin (CEO) or Michiel Wolfswinkel (CFO)
Phone: +31 (0) 88 3698060