26.07.2013 19:19:00
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Hologram. Industries: 2013 First-Half Results
Regulatory News:
Hologram. Industries (Paris:HOL):
Consolidated data (€ millions) 1 |
H1-2013 | H1-2012 | 2012 | |||
Consolidated sales | 23.1 | 22.5 | 48.9 | |||
EBIT (Current Operating Income) | 4.4 | 5.0 | 10.8 | |||
EBIT margin | 19.1% | 22.3% | 22.1% | |||
Net income attributable to the Group | 2.6 | 3.0 | 6.4 | |||
Net margin | 11.2% | 13.3% | 13.2% |
Sales reached €23.1 million for the first six months, up 2.5 % from the 2012 first half. This slowdown in the pace of sales growth reflects mainly the impact of timing differences resulting from invoices carried forward to the second half.
At June 30, 2013, sales volume from new business amounted to €3 million (compared to €3.6 million at June 30, 2012).
- Operating margin of 19 %
The gross margin was 84.9% for the 2013 first half, up 0.2 point from the same period in 2012.
Current operating income (EBIT) came to €4.4 million for a margin of 19.1% compared with €5 million for last year's first half (22.3%).
This result includes a currency loss of €0.1 million for the period compared with a gain of €0.4 million in the 2012 first half.
Net income attributable to the Group amounted to €2.6 million compared to €3 million one year earlier. On this basis, the net margin was 11.2%. Earnings per share came to €0.50, down 14% compared with the 2012 first half.
After refinancing the acquisition of the new site of Bussy Saint-Georges for an amount of €3.7 million and a €2.1 million dividend payment, net debt at June 30 amounted to €3.8 million (compared with net cash position of €2.5 million at December 31, 2012).
- Outlook
As announced in the press release of July 10, and despite the slowdown in the first six months, the Group maintains its guidance for double-digit sales growth and an operating margin above 20%, based on expectations of an acceleration in momentum in the second half.
- Tender offer in progress until August 2 inclusive
A friendly simplified cash tender offer (offre publique d’achat simplifiée or the "Offer”) initiated by Surys for Hologram Industries at a price of €35 per share is currently in progress. This Offer has been open since July 11, 2013 and will run until August 2, 2013 inclusive.
Under the terms of this Offer, the company is valued on the basis of multiples of 3.9 for sales and 14.1 for EBITDA 2012.
On July 26, 2013, SURYS held 86.65% of the share capital and 85.58% of the voting rights (excluding own shares held in treasury by Hologram. Industries representing 4.86% of the capital and 4.80% of the voting rights), calculated according to the provisions of Article 223-11 of the AMF General Regulation.
This Offer will remain open until August 2, 2013 inclusive. The final results of the Offer will be published by the AMF on August 5 at the latest.
All information about this Offer is available at the websites of the company (www.hologram-industries.com) and the AMF (www.amf-france.org).
Upcoming events: 2013 third-quarter sales
Tuesday October 15, 2013 (after the close of trading on NYSE-Euronext Paris)
Hologram. Industries is a provider of high security anti-counterfeiting solutions for:
- Identity documents
- Vehicle documents
- Brand products
- Fiduciary documents;
- Identifying and searching for illicit digital content
In 2012 the Group had sales of €49 million. The expertise of Hologram. Industries is based on three major technology areas: optics, material sciences and computing.
www.hologram-industries.com
Euronext Paris– ISIN code: FR0000062168
1 Audited accounts adopted by the Board of Directors' meeting of July 25, 2013
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