Adobe Flex Authors: Matthew Lobas, PR.com Newswire, Shelly Palmer, Kevin Benedict

News Feed Item

Emakina Group: 3% Growth in Turnover in the Year 2013

BRUSSELS, March 14, 2014 /PRNewswire/ --

Emakina Group (Alternext Brussels: ALEMK) published its annual results for 2013 today. Consolidated sales rose by 2.7% compared with 2012. At the same time, earnings before interest, taxes, depreciation and amortisation (EBITDA) fell from 7.7% of total sales in 2012 to 6.1% in 2013. Finally, the consolidated net profit (excluding amortisation of goodwill) rose by 12% from EUR 1,052,780 in 2012 to EUR 1,176,999 in 2013. As in previous years, the Board of Directors is to put a proposal to the general meeting to be held on 22 April 2014 not to distribute a dividend so as to further support the development of the group.

Increase in sales outside Belgium of 22%

In 2013, Emakina Group sales amounted to EUR 50,117,336, compared with EUR 48,783,064 in 2012, up 3%. At constant scope, the level of sales was maintained in 2013.

The growth rate of activities in entities "outside Belgium" amounted to 22%. Meanwhile, the group's activity on the Belgian market has reached a stage of maturity given the significant level of its market share. Consequently, now more than ever European expansion remains a strategic priority for the group.  

It should be remembered that in October 2013, Emakina Group announced the takeover of 54.5% of the capital of the Dutch digital communication agency Relephant (through the holding company Den Gulden Winckel B.V). With a total staff of about 80 people at its Dutch branch, Emakina is becoming a leading agency in the Netherlands. After the takeover of the Merge Media agency earlier this year, Emakina is now present in Rotterdam, Amsterdam and The Hague. The subsidiary Relephant Turkey, with around 20 members of staff, has also become fully integrated into the scope of the Emakina group further to this transaction.  

In 2013, new national and international key accounts such as Air Canada, DG ECFIN (European Commission), i24News.tv, Lindemans, L'Oréal, Longines, Ogone, Oris, Rituals, Samsung Europe, Starwood Hotels & Resorts chose an Emakina Group agency as their communication partner.

Reduced operating profit (before amortisation) of 19%

Earnings before interest, taxes, depreciation and amortisation (EBITDA) contracted by 19% in absolute terms and as a percentage of total sales, falling from 7.7% in 2012 to 6.1% in 2013. At constant scope, the EBITDA fell from 7.7% of sales in 2012 to 5.6% of sales in 2013. This scope effect is reflected in the integration of the Dutch activities of Merge Media and the Relephant group, the positive effects of which can already be seen in the consolidated results of the last quarter of 2013.

The level of the EBITDA margin during the year 2013 may be explained by a number of factors:

  1. The acquisition of multiannual contracts on key accounts requires a great deal of effort from sales and marketing.
  2. The deferral of major projects impacted on resource scheduling in the first half of the year.
  3. The need to continue to invest in new, innovative skills.

Current earnings before amortisation of goodwill contracted by 12%

The current result (before amortisation of consolidation differences) fell by EUR 247,210 following the decline in the EBITDA, partially offset by the strong progress in the financial result due to the capital gain of EUR 700,000 on the disposal 45.5% of the capital of the Rotterdam subsidiary Emakina.NL.

Net profit of EUR 1,176,999 before amortisation of goodwill up 12%

The net result in 2013 (before amortisation of consolidation differences) rose by EUR 124,219 owing to lower tax charges and a relatively insignificant exceptional result in 2013. The amortisation of consolidation differences (imposed by Belgian accounting standards) had a negative impact on the net result of the company of EUR 1,028,432 for 2013. This element of Belgian accounting law, which imposes systematic amortisation, weighs significantly on the consolidated net result.

Compared with the end of 2012 and excluding the changes in the scope, the group's financial situation remained stable during 2013 thanks to a controlled level of financial debt, a stable working capital requirement and the availability of relevant and renewed credit lines.

Investments in innovation

In a competitive economic context, Emakina is continuing to invest in innovation in order to strengthen its service range and thus maintain its competitive advantage:

  1. The substantial investments made over the past few years in the social, mobile and integrated communication fields have made it possible to maintain growth in an economic context that continues to be difficult. The development in 2013 of expertise in commitment techniques related to "gamification" (with the support of Innoviris, the Brussels institute for research and innovation)  as well as a skills centre focusing on the Adobe "AEM" technological solution are part of this process.
  2. The acquisition of the Dutch group Relephant in October 2013 is also part of this desire to expand the range of services by offering strong expertise in the field of E-commerce.
  3. Supporting "CRM" solutions for "B2C" brands such as Samsung and Audi is another major area of development that enables them to create a direct marketing relationship through digital media.

Outlook for 2014

Emakina Group's management team expects growth to continue at a slightly higher rate to that of last year in 2014 on the basis of the commercial debt and the European expansion of the group.  

Auditor's report

The auditor has confirmed that his audit of the consolidated account is complete in terms of substance and has not revealed any significant adjustment which should be made to the accounting data given in the press release.

Belgian accounting standards

All the consolidated figures have been established in accordance with Belgian accounting standards (in particular as regards the mandatory amortisation of goodwill). These figures provide a summary of the financial results that will be presented in detail in the annual report available as of 1 April 2014.

Financial diary

Annual general meeting 2014: 22 April 2014 at 4.00 pm.

Annual report 2013: 1 April 2014

Publication of 2014 half-yearly results: 12 September 2014

                          CONSOLIDATED FIGURES 2013 - EMAKINA GROUP SA

                 CONSOLIDATED INCOME STATEMENT (EUR)*   31/12/2013  31/12/2012  31/12/2011

    SALES AND SERVICES                                  50,117,336  48,783,064  41,337,106
    Turnover                                            48,680,249  47,799,533  40,265,704
    Variations in contracts in progress                    298,779     612,880     452,051
    Capitalised production                                 110,489     204,530     241,097
    Other operating income                               1,027,819     166,121     378,254
    OPERATING CHARGES (BEFORE AMORTISATION)            -47,060,983 -45,027,552 -38,587,823
    Purchase of equipment and services linked to sales -24,146,466 -24,411,435 -21,129,943
    Remuneration, social security charges and pensions -23,048,167 -20,416,416 -17,339,864
    Other operating costs                                  133,650    -199,701    -118,016
    AMORTISATION = EBITDA                                3,056,353   3,755,512   2,749,283
    DEPRECIATION AND AMORTISATION                       -1,340,574  -1,361,478    -843,072
    Amortisation of intangible and tangible fixed
    assets                                              -1,370,127  -1,114,995    -861,492
    Depreciation of trade receivables                       24,553    -258,414     -13,746
    Provisions for liabilities and charges                   5,000      11,931      32,166
    OPERATING PROFIT                                     1,715,779   2,394,034   1,906,211
    FINANCIAL RESULTS                                       81,283    -349,762    -324,140
    Financial income                                       754,798      77,064      74,884
    Financial charges                                     -673,515    -426,826    -399,024
    CONSOLIDATED DIFFERENCES                             1,797,062   2,044,272   1,582,071
    AMORTISATION OF GOODWILL**                          -1,028,432  -1,507,875  -1,561,061
    CURRENT PROFIT                                         768,630     536,397      21,010
    EXTRAORDINARY RESULTS                                  -43,782      42,971    -368,363
    RESULT BEFORE TAXES                                    724,848     579,368    -347,353
    DEFERRED TAXES                                         -11,193    -217,783    -260,837
    INCOME TAX                                            -550,762    -822,927    -228,112
    CONSOLIDATION USING THE EQUITY METHOD                  -14,326       6,247           0
    DIFFERENCES.                                         1,176,999   1,052,780     724,759
    NET RESULTS                                            148,567    -455,095    -836,302

    A. Share of minority interests
                                                           193,264     -31,762      32,041
    B. Group share                                         -44,697    -423,333    -868,343

    DATA PER SHARE                                      31/12/2013  31/12/2012  31/12/2011

    NUMBER OF SHARES                                     3,844,061   3,833,739   3,833,739
    NUMBER OF SHARES AND WARRANTS                        3,995,211   4,041,959   4,097,089
    CURRENT RESULTS / SHARE (in EUR)                        0.1999      0.1399      0.0055
    CURRENT RESULTS/ SHARE AND WARRANT (in EUR)             0.1924      0.1327      0.0051
    GROUP SHARE / SHARE (in EUR)                           -0.0116     -0.1104     -0.2265
    GROUP SHARE / SHARE AND WARRANT (in EUR)               -0.0112     -0.1047     -0.2119
    NET RESULT / SHARE (in EUR)                             0.0386     -0.1187     -0.2181
    NET RESULT / SHARE AND WARRANT (in EUR)                 0.0372     -0.1126     -0.2119

* Drawn up in accordance with Belgian accounting standards.

** In accordance with the valuation rules, the consolidation differences (or goodwill) are amortised over eight years, irrespective of all consideration of any excess value in accordance with Belgian accounting standards.

The 2013 consolidated income statement covers 12 months of all the entities in the group except for Den Gulden Winckel BV, consolidated since 1 October 2013, or  the income statement for three months and Merge Media BV, consolidated since 1 July or the income statement for six months.

                 ASSETS (EUR) *                         31/12/2013  31/12/2012  31/12/2011

    FIXED ASSETS                                        11,171,038   9,518,823   8,873,387
    Formation expenses                                     297,600     177,960     269,914
    Intangible assets                                    2,038,425   2,001,937     836,213
    Consolidation differences                            7,084,341   5,880,872   6,438,421
    Tangible assets                                      1,484,521   1,244,679   1,088,537
    Fixed financial assets                                 266,151     213,375     240,302
    CURRENT ASSETS                                      22,450,532  20,878,538  20,442,876
    Stocks and contracts in progress                     4,486,882   4,413,093   3,616,979
    Deferred taxes                                          93,041     136,983     387,874
    Amounts receivable within one year                  13,845,816  14,221,489  13,826,031
    Current investments                                    305,890     395,890           0
    Cash at bank and in hand                             2,863,659   1,151,398   2,203,255
    Deferred charges and accrued income                    855,244     559,685     408,737
    TOTAL ASSETS                                        33,621,570  30,397,361  29,316,263

               LIABILITIES (EUR) *                      31/12/2013  31/12/2012  31/12/2011

    CAPITAL AND RESERVES                                10,266,607   9,665,965  10,097,133
    MINORITY INTERESTS                                     338,629       8,634       7,460
    PROVISIONS FOR LIABILITIES AND CHARGES                       0       5,000      16,932
    DEFERRED TAXES AND DEFERRED TAX LIABILITIES             44,645      77,394     110,502
    DEBTS                                               22,971,689  20,640,368  19,084,236
    Amounts payable after one year                       2,186,146   1,508,623     443,356
    Amounts payable within one year                     20,243,085  18,510,802  18,412,781
    Current portion of amounts payable after one year      889,396     604,125   1,215,005
    Financial debts                                      6,148,109   4,385,622   2,064,400
    Trade debts                                          3,964,507   3,555,991   4,723,962
    Advances received                                    3,420,199   3,573,594   4,953,413
    Taxes, wages and social security                     4,443,701   4,825,306   3,638,534
    Other debts                                          1,377,173   1,566,164   1,817,467
    Accrued charges and deferred income                    542,458     620,943     228,099
    TOTAL LIABILITIES                                   33,621,570  30,397,361  29,316,263

* Drawn up in accordance with Belgian accounting standards.

In accordance with the Alternext Brussels regulations, this annual press release is optional. This will be followed by the publication of the Emakina Group annual financial report 2013 which contains all the regulatory information. This report will be available on our website, http://www.emakina.com (section "Financial - Reports") as of 1 April 2014 in accordance with the legal provisions on this matter.

About the Emakina Group

Emakina is a European group of digital agencies that support their clients in maximising the opportunities of the new digital era. Its service portfolio is centred on five core activities: Integrated Communication, Web Building, Interactive Communication, Applications and Commerce. The group's agencies are Emakina (Brussels, Paris, Limoges, Amsterdam, Rotterdam, The Hague, Geneva and Izmir), Your Agency (Waterloo), Robert & Marien (Brussels), The Reference (Ghent) and Design is Dead (Antwerp).

Emakina's clients include many leading businesses, such as Audi, Baume & Mercier, Bavaria, BNP Paribas Fortis, Brussels Airlines, Caran d'Ache, Deutsche Bank, GDF Suez, Girard-Perregaux, i24News.tv, ING, Karl Lagerfeld, KPN, L'Oréal, Longines, Microsoft, Orange, Peugeot, Samsung Europe, Seat, SNCF, Thomas Cook, Volkswagen, and international institutions, such as the European Commission. The Emakina Group employs a staff of over 500 people, reported annual sales of €50.1 m in 2013 and is listed on Alternext of Euronext Brussels (mnemo: ALEMK - ISIN: BE0003843605). For more information visit: http://www.emakina.com

Emakina Group S.A.
Rue Middelbourg 64A
1170 Brussels
VAT 0464.812.221
ISIN BE 0003843605

This regulatory information press release is a translation of the official French version.


More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

@ThingsExpo Stories
Intelligent machines are here. Robots, self-driving cars, drones, bots and many IoT devices are becoming smarter with Machine Learning. In her session at @ThingsExpo, Sudha Jamthe, CEO of IoTDisruptions.com, will discuss the next wave of business disruption at the junction of IoT and AI, impacting many industries and set to change our lives, work and world as we know it.
SYS-CON Events announced today that Cloudbric, a leading website security provider, will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Cloudbric is an elite full service website protection solution specifically designed for IT novices, entrepreneurs, and small and medium businesses. First launched in 2015, Cloudbric is based on the enterprise level Web Application Firewall by Penta Security Sys...
Smart Cities are here to stay, but for their promise to be delivered, the data they produce must not be put in new siloes. In his session at @ThingsExpo, Mathias Herberts, Co-founder and CTO of Cityzen Data, will deep dive into best practices that will ensure a successful smart city journey.
The explosion of new web/cloud/IoT-based applications and the data they generate are transforming our world right before our eyes. In this rush to adopt these new technologies, organizations are often ignoring fundamental questions concerning who owns the data and failing to ask for permission to conduct invasive surveillance of their customers. Organizations that are not transparent about how their systems gather data telemetry without offering shared data ownership risk product rejection, regu...
Data is the fuel that drives the machine learning algorithmic engines and ultimately provides the business value. In his session at Cloud Expo, Ed Featherston, a director and senior enterprise architect at Collaborative Consulting, will discuss the key considerations around quality, volume, timeliness, and pedigree that must be dealt with in order to properly fuel that engine.
SYS-CON Events announced today that MathFreeOn will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. MathFreeOn is Software as a Service (SaaS) used in Engineering and Math education. Write scripts and solve math problems online. MathFreeOn provides online courses for beginners or amateurs who have difficulties in writing scripts. In accordance with various mathematical topics, there are more tha...
Successful digital transformation requires new organizational competencies and capabilities. Research tells us that the biggest impediment to successful transformation is human; consequently, the biggest enabler is a properly skilled and empowered workforce. In the digital age, new individual and collective competencies are required. In his session at 19th Cloud Expo, Bob Newhouse, CEO and founder of Agilitiv, will draw together recent research and lessons learned from emerging and established ...
The best way to leverage your Cloud Expo presence as a sponsor and exhibitor is to plan your news announcements around our events. The press covering Cloud Expo and @ThingsExpo will have access to these releases and will amplify your news announcements. More than two dozen Cloud companies either set deals at our shows or have announced their mergers and acquisitions at Cloud Expo. Product announcements during our show provide your company with the most reach through our targeted audiences.
In his general session at 19th Cloud Expo, Manish Dixit, VP of Product and Engineering at Dice, will discuss how Dice leverages data insights and tools to help both tech professionals and recruiters better understand how skills relate to each other and which skills are in high demand using interactive visualizations and salary indicator tools to maximize earning potential. Manish Dixit is VP of Product and Engineering at Dice. As the leader of the Product, Engineering and Data Sciences team a...
Virgil consists of an open-source encryption library, which implements Cryptographic Message Syntax (CMS) and Elliptic Curve Integrated Encryption Scheme (ECIES) (including RSA schema), a Key Management API, and a cloud-based Key Management Service (Virgil Keys). The Virgil Keys Service consists of a public key service and a private key escrow service. 

@ThingsExpo has been named the Top 5 Most Influential Internet of Things Brand by Onalytica in the ‘The Internet of Things Landscape 2015: Top 100 Individuals and Brands.' Onalytica analyzed Twitter conversations around the #IoT debate to uncover the most influential brands and individuals driving the conversation. Onalytica captured data from 56,224 users. The PageRank based methodology they use to extract influencers on a particular topic (tweets mentioning #InternetofThings or #IoT in this ...
More and more brands have jumped on the IoT bandwagon. We have an excess of wearables – activity trackers, smartwatches, smart glasses and sneakers, and more that track seemingly endless datapoints. However, most consumers have no idea what “IoT” means. Creating more wearables that track data shouldn't be the aim of brands; delivering meaningful, tangible relevance to their users should be. We're in a period in which the IoT pendulum is still swinging. Initially, it swung toward "smart for smar...
Web Real-Time Communication APIs have quickly revolutionized what browsers are capable of. In addition to video and audio streams, we can now bi-directionally send arbitrary data over WebRTC's PeerConnection Data Channels. With the advent of Progressive Web Apps and new hardware APIs such as WebBluetooh and WebUSB, we can finally enable users to stitch together the Internet of Things directly from their browsers while communicating privately and securely in a decentralized way.
In past @ThingsExpo presentations, Joseph di Paolantonio has explored how various Internet of Things (IoT) and data management and analytics (DMA) solution spaces will come together as sensor analytics ecosystems. This year, in his session at @ThingsExpo, Joseph di Paolantonio from DataArchon, will be adding the numerous Transportation areas, from autonomous vehicles to “Uber for containers.” While IoT data in any one area of Transportation will have a huge impact in that area, combining sensor...
With an estimated 50 billion devices connected to the Internet by 2020, several industries will begin to expand their capabilities for retaining end point data at the edge to better utilize the range of data types and sheer volume of M2M data generated by the Internet of Things. In his session at @ThingsExpo, Don DeLoach, CEO and President of Infobright, discussed the infrastructures businesses will need to implement to handle this explosion of data by providing specific use cases for filterin...
What happens when the different parts of a vehicle become smarter than the vehicle itself? As we move toward the era of smart everything, hundreds of entities in a vehicle that communicate with each other, the vehicle and external systems create a need for identity orchestration so that all entities work as a conglomerate. Much like an orchestra without a conductor, without the ability to secure, control, and connect the link between a vehicle’s head unit, devices, and systems and to manage the ...
Ask someone to architect an Internet of Things (IoT) solution and you are guaranteed to see a reference to the cloud. This would lead you to believe that IoT requires the cloud to exist. However, there are many IoT use cases where the cloud is not feasible or desirable. In his session at @ThingsExpo, Dave McCarthy, Director of Products at Bsquare Corporation, will discuss the strategies that exist to extend intelligence directly to IoT devices and sensors, freeing them from the constraints of ...
DevOps is being widely accepted (if not fully adopted) as essential in enterprise IT. But as Enterprise DevOps gains maturity, expands scope, and increases velocity, the need for data-driven decisions across teams becomes more acute. DevOps teams in any modern business must wrangle the ‘digital exhaust’ from the delivery toolchain, "pervasive" and "cognitive" computing, APIs and services, mobile devices and applications, the Internet of Things, and now even blockchain. In this power panel at @...
@ThingsExpo has been named the Top 5 Most Influential M2M Brand by Onalytica in the ‘Machine to Machine: Top 100 Influencers and Brands.' Onalytica analyzed the online debate on M2M by looking at over 85,000 tweets to provide the most influential individuals and brands that drive the discussion. According to Onalytica the "analysis showed a very engaged community with a lot of interactive tweets. The M2M discussion seems to be more fragmented and driven by some of the major brands present in the...
Amazon has gradually rolled out parts of its IoT offerings, but these are just the tip of the iceberg. In addition to optimizing their backend AWS offerings, Amazon is laying the ground work to be a major force in IoT - especially in the connected home and office. In his session at @ThingsExpo, Chris Kocher, founder and managing director of Grey Heron, explained how Amazon is extending its reach to become a major force in IoT by building on its dominant cloud IoT platform, its Dash Button strat...