Sword Group

2016 Second Quarter Results - Revenue: +€40.3M in line with the budget

2016 Second Quarter Results
Revenue: +€40.3M in line with the budget (1)
Profitability: 16.0% (EBITDA margin) above budget (1)

Sword Group S1-2016 (1) (2)
Consolidated Revenue: €80.1M
EBITDA margin: 15.5%
Organic growth at constant exchange rates: +17.1%

(1) Non audited Figures
(2) % calculated from figures in €K.

Windhof - July 26, 2016

Consolidated Accounts

€M	Q2 (1) (2)
Consolidated	2016	2015	Growth
Revenue	40.3	35.6	+ 14.7%
EBITDA	6.4	5.6	+ 15.4%
EBITDA Margin	16.0%	15.9 %	-

€M	S1 (1) (2)
Consolidated	2016	2015	Growth
Revenue	80.1	67.8	+ 18.2%
EBITDA	12.4	10.5	+ 18.3%
EBITDA Margin	15.5%	15.5 %	-

(1) Non audited Figures
(2) % calculated from figures in €K.

ANALYSIS

Growth
During the first half-year the Group has outperformed in terms of organic growth at constant exchange rates. Organic growth amounted to 17.1% for this period.

The distribution per sector was as follows:
- Software + 15.7%
- Services + 17.8%

Net cash position
The net cash position to the end of June is €28.1M.
This figure takes account of the €11.3M in dividends paid out during the half-year as well as the €7.2M used for share buybacks and earn-out payments.
The generation of free cash-flow from operations during the same period amounts to €9.4M.

OUTLOOK
The Group confirms its annual target of 15% of organic growth at constant exchange rates, combined with an EBITDA margin of 15%.

Sword Group
1 500+ staff
Listed on Euronext Paris - Compartment B
ISIN Code: FR0004180578
ICB: 9530 Logiciels et Services Informatiques