MailUp SpA’s Board of Directors approves the results as at June 30, 2016
The Group saw triple-figure growth in turnover and EBITDA in the first half of 2016, driven by its acquisitions and positive organic development of MailUp revenues, which has grown in double figures for the 20th half in a row. The adoption has been announced of the IAS/IFRS standards in the 2016 financial statements. Net profit at the end of 2016 is projected to be between EUR 400,000 and EUR 600,000.
Main consolidated financial results according to the national accounting standards (OIC)
- EUR 10.1M in production value as at 6/30/2016 compared to EUR 4.5M as at 6/30/2015 (+123%), including:
○ EUR 4.4M in revenues from the sale of email services as at 6/30/2016 compared to EUR 3.2M as at 6/30/2015 (+36%);
○ EUR 5.2M in revenues from the sale of SMS services as at 6/30/2016 compared to EUR 1.1M as at 6/30/2015 (+351%);
○ EUR 0.4 M in other revenues. The growth in production value was impacted by the acquisitions made during 2015 (Acumbamail, Agile Telecom and Globase) and by the positive performance of MailUp SpA, which grew in double digits for the 20th half in a row (+13% growth in production value in 6/30/2016 from 6/30/2015).
- EBITDA of EUR 1M as at 6/30/2016 compared to an EBITDA of EUR 492,000 as at 6/30/2015 (+119%);
- EUR 1.1M in cash flow from operating activities as at 6/30/2016, with a “cash flow from operating activities/EBITDA” cash conversion of 1.1x;
- Loss of EUR 153,000 as at 6/30/2016, compared to a net profit of EUR 6,000 as at 6/30/2015. This loss is due to the higher depreciation costs relating to the acquisitions made in the second half of 2015 (“consolidation difference”), amounting to EUR 350,335.
- Positive net financial position of EUR 0.7M, including: cash and cash equivalents totaling EUR 4.7M; current financial liabilities totaling EUR 1.1M; non-current financial liabilities totaling EUR 2.9M.