Rousset, France, January 30st, 2018, Qwamplify (Custom Solutions ISIN : FR0010889386 - Mnemonic: ALSOL), major player in France for digital & data marketing solutions, announces today its annual results for the 2017 financial year (ended September 30, 2017).
Decrease in operating income by 87% to ? 252,000
The annual turnover, up 7.4%, was strongly impacted by the decline in historical activities, including the end of the Total contract at 31/12/16, resulting in a 14% drop in the second half after a rise of 31% in the first half.
As a result, the operating result decreases by 87%, mainly due to:
• the sharp decline in historical activities and reorganization costs expensed;
• costs of implementing the Group strategy; and
• delays in sales on the Mobile CRM platform.
Improvement of the consolidated net income Group share
The improvement of the consolidated net income Group share is mainly driven by the improvement in earnings of companies accounted for using the equity method (Highten and Q3), and the increase in exceptional income not impacted by asset write-downs.
A solid financial structure
The group posted net cash of ? 6.7 million at September 30, 2017 (-40% compared to September 30, 2016) and total cash of ? 14.2 million. This cash flow evolution is mainly related to the payment of Adsvisers shares which took place on September 28, 2017. Post closing of the financial year, this acquisition was the subject of a ? 4 million bank refinancing.
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