Global Graphics SE: Publication of 2016 annual report and financial statements
15 Mars 2017 - 6:00PM
PRESS RELEASE - REGULATED INFORMATION GLOBAL GRAPHICS
PUBLISHES 2016 ANNUAL REPORT AND FINANCIAL STATEMENTS
Cambridge (UK),
15 March 2017 (18.00 CET): Global Graphics SE (Euronext: GLOG)
announces that it has published its annual report and financial
statements for the financial year ended 31 December 2016.
The full document is available for
download from the investors section of the Company's web site at:
http://www.globalgraphics.com/investors/financial-reports
Should you wish to receive printed
copies please send an e-mail to
investor-relations@globalgraphics.com or make your request in
writing, for the attention of the Company's Chief Financial
Officer, to 2030 Cambourne Business Park, Cambourne, Cambridge,
CB23 6DW, UK.
Key consolidated
figures
In thousands of euros |
2016 |
2015 |
Change |
|
|
|
|
Revenue |
16,033 |
15,265 |
768 |
Operating
(loss)/profit |
(674) |
1,126 |
(1,800) |
Profit before tax |
130 |
1,216 |
(1,086) |
Tax benefit |
466 |
685 |
(219) |
Profit for the year
attributable to equity holders |
596 |
1,901 |
(1,305) |
|
|
|
|
Basic earnings per
share |
0.05 |
0.18 |
(0.13) |
|
|
|
|
Net cash |
4,639 |
4,235 |
404 |
The consolidated pre-tax result
was a profit of €0.13 million in 2016 compared with a pre-tax
profit of €1.22 million in 2015. The reduction in
profitability of €1.09 million is due to:
-
an increase in revenue of €0.76 million;
-
an increase in cost of sales of €0.42
million
-
an increase in selling, general and
administrative expenses of €2.10 million;
-
an increase in research and development expenses
of €0.21 million;
-
an increase in other income less other operating
expenses of €0.17 million; and
-
an increase in foreign exchange gains of €0.71
million.
Included in research and
development expenses is the capitalisation and amortisation of
internally generated intangible assets. During the period
there was a net expense of €1.52 million (2015: €1.32 million)
related to these assets.
Included in selling, general and
administrative expenses is amortisation of €1.07 million (2015:
€0.29 million) related to the acquired intangible assets of URW and
Meteor and share-based payment expenses of €0.95 million (2015:
€0.11 million).
The exchange rate losses and gains
are primarily due to the revaluation of currency balances held at
the balance sheet date and the significant change in exchange rates
during the year.
The Group presents adjusted
financial results when reporting its financial results to provide
investors with an additional tool to evaluate the Group's results
in a manner that focuses on what the Group believes to be its
underlying business operations. The Group's management
believes that the inclusion of adjusted financial results provides
consistency and comparability with past reports and comparability
to similar companies in the Group's industry, many of which present
the same or similar adjusted financial information to
investors.
In thousands of euros |
2016 |
2015 |
Change |
|
|
|
|
Adjusted operating
profit |
3,013 |
3,215 |
(202) |
Adjusted net
profit |
3,670 |
3,597 |
73 |
|
|
|
|
Adjusted basic
earnings per share |
0.33 |
0.34 |
(0.01) |
Additional commentary and analysis
of the Group's consolidated results for the year ending 31 December
2016 can be found in the aforementioned annual report and financial
statements.
Annual General
Meeting
The annual general meeting ("AGM") had been scheduled for Tuesday
25 April 2017 in Brussels, however, due to other business
commitments, this has now been re-scheduled to Monday 8 May
2017. The official notice of the AGM will be issued in
accordance with applicable legal and regulatory requirements closer
to the time.
About Global Graphics
Global Graphics SE (Euronext:
GLOG) http://www.globalgraphics.com is a leading
developer of software platforms for digital printing, including the
Harlequin RIP®. Customers include HP, Canon, Delphax, Roland,
Kodak and Agfa. The roots of the company go back to
1986 and to the iconic university town of Cambridge, and,
today the majority of the R&D team is still based near here.
The font foundry, URW++ Design and Development GmbH, and the
industrial printhead driver solutions specialists, Meteor Inkjet,
are subsidiary companies of Global Graphics SE. Global
Graphics has offices in: Boston, US; Tokyo, Japan; and Hamburg,
Germany.
Contacts
Jill Taylor |
Graeme Huttley |
Corporate Communications Director |
Chief Financial Officer |
Tel: +44 (0)1223 926489 |
Tel: +44 (0)1223 926472 |
Email: jill.taylor@globalgraphics.com |
Email: graeme.huttley@globalgraphics.com |
This
announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Global Graphics SE via Globenewswire
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