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2018 Annual Results

25/03/2019

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Annual revenue: €82m up 2.5% (5.9% at constant exchange rates)

Current operating margin in line with expectations: 12.9%


 

Christian Lefort, Chief Executive Officer of Evolis, commented:

“2018 was a mixed year for Evolis, which delivered double-digit growth in the second half of the financial year after a more difficult first half. Current operating margin ended in line with the level announced last September, reflecting Evolis’ vigilance regarding cost management. In 2019, the Group will leverage product launches and step up its sales and marketing momentum in each of its markets to pursue the growth trends started in second-half 2018.”

 

Double-digit growth in business in second-half 2018

Revenue for the financial year ended at €82m, up 2.5% (+5.9% at constant exchange rates), with a contrasted performance between first and second-half 2018. After a first-half marked by unfavorable currency effects and project postponements, second-half 2018 posted double-digit growth of 11.7%, reflecting an upturn in business.

Channel business, which accounted for 66% of revenue in 2018, stood at €55.8m. Growth came out at +3.7% (+6.8% at constant exchange rates), notably demonstrating the roll-out of the Edikio solution in Europe and sales growth in North America and India, where structuring started last year is gradually generating results.

Projects business grew +1.6% (+6.3 % at constant exchange rates). Second-half 2018, driven by the roll-out of two major projects in Germany and India, delivered an excellent performance, with year-on-year growth of 26%.

In terms of regions, all saw growth at end-2018. The EMEA region (€42.3m) saw business up 1.8% (+2.5% at constant exchange rates), impacted by the geopolitical situation in the Middle-East. The Americas region (€20.1m) grew +4.4% (+10.1% at constant exchange rates), reflecting the ramp-up in the new sales team, particularly in the Channels business. Finally, the Asia-Pacific region posted revenue of €19.6m, up 2.1% (+9.1% at constant exchange rates), driven in particular by the Projects business across the region and the Channels business in India.

 

2019 revenue growth outlook: +7% at constant exchange rates

In 2019, new products will bolster Evolis’ range. Edikio Guest, the labeling solution for the hotel and catering industry launched in December 2018, should gain momentum in 2019. Evolis will also launch premium value-added solutions that will fuel both the distribution network of its Channels business and the Projects business offer, to capture growth in the banking and government markets.

Emmanuel Picot, Chairman of Evolis, declares:

“ Evolis is targeting revenue growth of 7% at constant exchange rates in 2019, confirming its target of €100m in revenue in 2021. I would like to thank all employees for the commitment they have shown and will show to meet our ambitions.”

 

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