FINANCIAL RESULTS FIRST SEMESTER 2017: Revenue growth Significant decrease in seasonal losses Increase in net cash | Bourse Reflex
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FINANCIAL RESULTS FIRST SEMESTER 2017: Revenue growth Significant decrease in seasonal losses Increase in net cash

Mardi 19 Sep 2017 à 18:20

Paris, 19 September 2017

In € millions H1 2016 H1 2017 Variation 2016
Revenues 20.9 22.7 +9% 48.2
Cost of goods and third-party services resold 2.7 2.7 +3% 7.0
Commercial gross profit 18.2 20.0 +9% 41.2
Other cost of revenues 7.2 7.9 +10% 14.6
Gross profit 11.1 12.0 +9% 26.6
Gross margin 53% 53% - 55%
Research and development 6.1 6.0 -2% 11.6
Selling and marketing 4.5 4.9 +8% 9.0
General and administrative 2.3 2.6 +12% 4.6
Current operating income (1.9) (1.4) +23% 1.4
Operating income (1.9) (1.4) + 27% 1.3
Net income, Group share (2.1) (1.9) +7% 0.7

DALET, a leading provider of software solutions for the creation, management and distribution of multimedia content for broadcasters, operators and content producers, has published its FINANCIAL results for its first half-year ended June 30, 2017.

Total revenues for the semester were up by 9% at €22.7 million as compared to the first half of 2016. Gross profit, which includes the cost of services, increased at the same rate as revenues, despite a larger share of services in the total sales mix (services represented 22% of revenues, versus 20% for the first semester of 2016). This result reflects the initial implementation of new processes designed to better control the cost of projects deployment.

Research and development expenses were stable at €6 million (26% of revenues). Selling and Marketing expenses were up by 8%, an increase due to international expansion in new markets and increased presence at tradeshows. General and Administrative expenses were up by €0.3 million, related to the development of new offices in Japan and Brazil and expansion in Singapore.

The resulting current operating loss decreased significantly by 23% to -€1.4 million, as compared to the first half of 2016. It is noted that Dalet's business experiences significant seasonality, with higher revenues in the second semester compared to the first semester, while expenses are almost fixed.

After €0.3 million in financial expenses, of which 10% is net interest expenses and 90% is related to exchange rates fluctuations, and €0.2 million in tax, net income for the semester amounted to a loss of €1.9 million as compared to a loss of €2.1 million for the first semester of 2016.

Improved cashflows – Stronger net cash position

Cash flows linked to operations amounted to €2.3 million, up by 35% as compared to the first semester last year, due to the decrease in seasonal loss and to an improved management of work capital. These cash flows linked to operations covered all investments and generated cash flows before financing activities of €0.6 million.

On 30 June 2017, net cash stood at €1.6 million, shareholder's equity at €13 million.

Perspectives

Based on these results and on the initial activity of the second semester, DALET expects continued growth in 2017, and progressive improvement of its operating margins, with an objective of a current operating margin of 4 to 5% for the full year 2017.

DALET just participated at the IBC broadcast tradeshow in Amsterdam (September 15 to 19), where it released its new “Dalet Social Media Panel”, an innovative module that provides newsrooms with the capability to create and distribute stories to social media outlets, and provides journalists, on their Dalet desktop production tools, with real time feedback on the stories from their audience.

This innovative solution was awarded by a panel of judges from the industry the "Best of Show Award', one of the most prestigious awards at the show.

Next publication

Q3 revenues on 6 November 2017 after the close of trading

About Dalet Digital Media Systems

Dalet solutions enable broadcasters and media professionals to create, manage and distribute content to both traditional and new media channels, including interactive TV, the Web and mobile networks. Dalet combines into a single system a robust and proven Asset Management platform with advanced metadata capabilities; a configurable workflow engine, and a comprehensive set of purpose-built creative and production tools. This integrated and open environment enables end-to-end management of the entire News and Sport and Program content chain, and allows users to significantly improve efficiency, and to maximize the use and value of their assets. Dalet's solutions are delivered through a dedicated Professional and Integration Services Department to ensure the highest possible standards.

Dalet systems are used around the world by many thousands of individual users at hundreds of TV and Radio content producers, including public broadcasters (ABS-CBN, BBC, CBC, DR, France TV, RAI, RFI, Russia Today, RT Malaysia, VOA), commercial networks and operators (Canal+, FOX, eTV, Mediaset, NBC Universal, Time Warner Cable, Warner Bros., SiriusXM) and government organizations (UK Parliament, NATO, United Nations, Veterans Affairs, NASA).

Dalet is traded on the NYSE-EURONEXT stock exchange (Eurolist C): ISIN: FR0011026749, Bloomberg DLT:FP, Reuters: DALE.PA. For more information on Dalet, visit www.dalet.com

Contacts

Actus Finance & Communication : Investors: Guillaume Le Floch +331 53 67 36 70
Press-Media : Vivien Ferran +331 53 67 36 34



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