SA Emakina Group: 20 % growth in sales, operating margin up almost 50% in the first half of 2015

BRUSSELS (pta023/18.09.2015/17:30 UTC+2) Emakina Group (Alternext Brussels: ALEMK) - http:/www.emakina.com published its results for the first half of 2015 today. Consolidated sales rose by 20% compared with the first half of 2014. Meanwhile, earnings before interest, taxes, depreciation and amortisation (EBITDA) are up 49% compared with the first six months of 2014. The consolidated net profit (excluding amortisation of goodwill) amounted to EUR 1,067,684 compared with EUR 129,115 during the same period last year. This performance is mainly due to the growth of business across the entities of the group.

Sales outside Belgium account for 54% of the total consolidated income
During the first half of 2015, total sales amounted to EUR 32,462,191 compared with EUR 27,132,701 in the first half of 2014, representing an increase of 19.6% (-18.2% at constant scope).

In terms of clients, 54% of the consolidated income in the first half of 2015 was generated on accounts outside Belgium, as against 50% in 2014 over the same period. This trend reflects the acquisition of market shares abroad in line with the strategy of European expansion.

The acquisition of the diamond:dogs communication group located in Vienna, Salzburg and Zurich, with a team of about 80 people, announced on 18 September 2015, is the latest example of Emakina's ambition to operate more widely across Europe in order to offer its international clients the best possible support.

In 2015, new national and international major clients chose an Emakina Group agency as their communication partner. They include AstraZeneca, Bosch Siemens, Celio, Carré de l'Habitat, Cofely, Crea Geneve, Crédit Mutuel Arkéa, De Lijn, European Defense Agency, Floris van Bommel, Generali, Goodman, Janssen Pharmaceutica, Jimmy Choo, Kenwood, Kiala (UPS), Melexis, Merck, V&D and WE Fashion.

Operating profit (before amortisation) up 49%
Earnings before interest, taxes, depreciation and amortisation (EBITDA) reached EUR 2,453,590 compared with EUR 1,648,152 in the first half of 2014. Expressed as a percentage of total sales, the EBITDA rose from 6.1% to 7.6% in the first half of the year between 2014 and 2015.

This positive trend in the operating margin in 2015 may be attributed mainly to improved use of resource capacity combined with a moderate increase in costs, in line with the trends seen in the second half of 2014.

The current result (before amortisation of consolidation differences) rose in line with the trend in the EBITDA owing to the stability of amortisation charges and the financial result in the first half of 2015 compared with the same period in 2014, despite the context of growing sales.

Net result: profit of EUR 1,067.684 before and EUR 240,704 after amortisation of goodwill

The net result for the first half of 2015 (before amortisation of consolidation differences) rose by EUR 938,569, due to the development in the current result, the lack of an extraordinary result in 2015 compared with the previous year and the limited increase in the tax burden.

The amortisation of consolidated differences (compulsory under Belgian accounting standards) had a negative impact of EUR 826,980 on the company's net result in the first half of 2015 compared with EUR 860,800 in the first half of 2014 further to the acquisition of Relephant. This element of Belgian accounting law, which imposes systematic amortisation, weighs significantly on the consolidated net result.

Investment in innovation and strategy
Emakina continues to invest in innovation and strategy in order to strengthen its service range and support the digital transformation of its clients, such as Unilever, as well as possible.

Compared with the end of 2014, the group's financial quality remained steady in the first half of 2015 thanks to a level of financial indebtedness in line with the group's, growth, a moderate increase in the working capital requirement and the availability of appropriate and renewed credit lines.

Outlook for the end of the year
Emakina Group's management team expects double-digit organic growth in sales for 2015 as a whole on the basis of the commercial debt and the group's international expansion.

Auditor's report
The auditor confirmed that the limited review of the consolidated accounts at 30 June 2015 is complete as regards content and has not revealed any significant corrections to be made to the accounting data published in the half-year report.

Belgian accounting standards
All the consolidated figures were established in accordance with Belgian accounting standards (especially with regard to the compulsory amortisation of goodwill). These figures provide a synopsis of the financial results that are set out in detail in the 2015 half-year report.

In accordance with the new legal Alternext requirements, all regulatory information can be found in the Emakina Group half-year financial report 2015, available on the website http:/www.emakina.com ("Financial" section).

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More information

Karim Chouikri, Chief Executive Officer
+32(0)2 400 40 00
kch@emakina.com

Frédéric Desonnay, Chief Financial Officer
+32(0) 2 788 79 26
fds@emakina.com

Luc Malcorps, Director of Media Relations
+32 (0) 2 788 79 73
lma@emakina.com

Emakina Group S.A.
http://www.emakina.com
Rue Middelbourg 64A , 1170 Brussels, Belgium
VAT 0464.812.221 - ISIN BE 0003843605

About the Emakina Group
The Emakina Group is an independent European group of cutting edge communication agencies. More than 670 experts work from offices in Belgium, France, Netherlands, Switzerland, Austria and Turkey. They serve clients such as Audi, Axa, BIC, Brady-Seton, Danone, De Bijenkorf, D'Ieteren, EDA, Engie, Federal Mogul, FIVB, ING, IWC, Karl Lagerfeld, KPN-Base, L'Oréal, Nike, Orange, Peugeot, Starwood, SNCF, Sundio, Total, Thomas Cook, and Unilever.

The Emakina agency guides companies through their digital transformation, helping them to develop better customer experiences, new lines of business, and quite simply to work better. The other agencies in the group are The Reference, Design is Dead, Your Agency, and Robert & Marien. All offer first class specialised digital and communication services.

The Emakina Group reported annual sales of Eur56,1m in 2014 and is listed on Alternext of Euronext Brussels (ALEMK - ISIN: BE0003843605). http://www.emakina.com

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Emitter:	SA Emakina Group Rue Middelbourg 64 1170 Watermael-Boitsfort Belgium
Contact Person:	Luc Malcorps
Phone:	+32 2 7887973
E-Mail:	lma@emakina.com
Website:	www.emakina.com
ISIN(s):	BE0003843605 (Share)
Stock Exchange(s):	-
Other Stock Exchanges:	Alternext, Euronext Brussels