exceet Group SE

Financial Results First Half-Year 2016 - Stabilization of operations in Q2

DGAP-Media / 08.08.2016 / 18:54

Financial Results First Half-Year 2016

Stabilization of operations in Q2

● Q2 group sales well stabilizing at EUR 44.2 million (+3.9% y-o-y)
achieving an improved but still too low EBITDA-level of EUR 2.0 million
(+58.8% y-o-y)

● H1 group sales amounted to EUR 86.8 million (-2.0% y-o-y) while EBITDA
reached EUR 3.7 million (-13.9% y-o-y) both attributable to a strong
basis in Q1 2015

● H1 sales of continued operations (electronics & secure solutions) at EUR
65.4 million(-5.3% y-o-y), EBITDA under proportionally down to EUR 3.5
million (-2.3% y-o-y)

● IDMS (discontinued operations) related goodwill was impaired by EUR 8.5
million

● As of 26 July 2016, expiration of outstanding warrants and rights to
convert outstanding Class B and C shares in Class A shares - redemption
at accounting par value of euro 0.0152 latest until 26 January 2017

● Twelve months rolling book-to-bill ratio of continued operations at 1.06
(H1 2015: 0.86), of discontinued operations at 1.05 (H1 2015: 0.95)

Luxembourg, 08 August 2016 - 06.30 p.m. - To focus the exceet Group on the
electronic and secure solutions activities, the Board of exceet Group SE
decided at the beginning of March 2016 to start a process to sell the
business segment of ID Management & Systems (IDMS). As a consequence, the
group's IFRS reporting is split in "Continued Operations" and "Discontinued
Operations" as of Q1 2016. Please see for further details the notes of the
Half-Year Report.

The sales of the first half-year 2016 of continued operations reached EUR
65.4 million (H1 2015: EUR 69.1 million) representing a decline of 5.3%; on
a group total basis including IDMS EUR 86.8 million (H1 2015: EUR 88.6
million). In combination with the lower sales level, the project mix and
the the lower efficiency to restructure and refocus the operations the
continued operations of exceet showed an unsatisfactory EBITDA of EUR 3.5
million (5.4% of net sales) compared to EUR 3.6 million (5.2% of net sales)
in H1 2015.

Electronic Components, Modules & Systems (ECMS) contributed 71.3% to
overall Group sales on a total basis. Net sales decreased to EUR 61.8
million during H1 2016, against EUR 64.5 million during H1 2015. The ECMS
segment achieved an EBITDA of EUR 7.0 million, accounting for an

EBITDA margin of 11.3% compared to EUR 7.2 million or a margin of 11.1% in
the same period of the previous year.

ECMS strengthened its sales activities in the field of displays and control
units for instance for vending machines. In Q2 the segment realized