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Trading update for third quarter of 2013

Maggy Van den Stock

PRESS RELEASE – Regulated information –  Wetteren, Belgium, 24 October 2013 –
Trading update for third quarter of 2013

Group:

  • Revenue decreased to EUR 35.50 million (-4.9%);
  • REBITDA amounted to minus EUR 1.28 million;
  • Net financial debt decreased to EUR 4.27 million compared to EUR 5.58 million in the previous year for the smartphoto group excluding Retail Group.

E-commerce:

  • Due to the downward trend of analogue and digital photo prints, the revenue decreased to EUR 19.21 million (-8.9 %);
  • REBITDA decreased due to start-up costs for new initiatives and increased marketing expenditure for customer recruitment.

Wholesale:

  • The revenue remained stable and amounted to EUR 16.29 million;
  • REBITDA amounted to a positive EUR 0.05 million.

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