|By PR Newswire||
|April 23, 2014 02:01 AM EDT||
WAALWIJK, Netherlands, April 23, 2014 /PRNewswire/ --
- Outcome first quarter 2014 meets expectations
- New and existing contracts provide confidence for the longer term
The Management Board of DOCDATA N.V. (Waalwijk, The Netherlands) announces the following interim notice.
DOCDATA N.V. has closed the first quarter 2014 with a profit. As expected, revenue and results are significantly lower compared to the first quarter 2013. This is mainly due to less activities of Docdata in Germany as a result of the planned reduction of our service to Zalando and due to the fact that IAI did not deliver systems in the first quarter of this year.
Michiel Alting von Geusau, CEO of DOCDATA N.V.: "2014 will become a year with decreasing revenue and results for Docdata for the first time in years, mainly due to substantially less activities for our biggest client in Germany. However, we are convinced that we can again realise growth for the longer term with our strategy 'Vision 2020: Smart Growth'. We make every effort to win new clients and we are proud that we entered into a strategic partnership with ASOS. This offers a lot of potential, both for ASOS and Docdata. The results are expected to be visible in 2015. In addition, we expect that our company IAI has developed unique applications through which substantial growth can be realised."
The financial position of DOCDATA N.V. has remained solid during the first quarter of 2014 with good liquidity and solvency. Per 31 March 2014, the cash surplus amounted to € 4.3 million (31 December 2013: € 6.7 million) and the solvency ratio was 58.6% (31 December 2013: 56.9%). The cash surplus has decreased mainly as a result of investments for the expansion of warehouse and handling capacity in Groβbeeren (Germany), investments by IAI for the relocation of FEHA LaserTech GmbH from Halle to Thalheim and expansion of the property in Veldhoven, as well as the purchase of 70,000 own shares to cover the 'Performance Share Plan' of DOCDATA N.V.
DOCDATA N.V. will announce the 2014 half-year results on Thursday 17 July 2014 before opening of the stock exchange.
Revenue of Docdata decreased in the first quarter 2014 compared to the first quarter 2013. In the first quarter 2014, 11.4 million transactions have been processed compared to 13.2 million in the same period last year. This decrease is mainly the result of a lower transaction volume for Zalando. This previously announced decrease will continue during 2014 and will result in a lower revenue and operating profit of Docdata, as well as of the Group, for 2014 compared to 2013.
Docdata focuses on the further development of e-commerce related customised solutions for (inter)national parties. Furthermore, we focus on winning new clients in the different geographical markets in Europe. The investments in capacity, IT and efficiency improvements will continue unabated.
The revenue value of the order book of IAI has increased to € 17.6 million in the first quarter 2014 (31 December 2013: € 10.5 million). This increase is because IAI has won several major orders and did not deliver systems in the first quarter 2014. In the first quarter 2014, orders for China (banknote perforation system with MicroPerf®) and Algeria (2 Bookmaster One systems) have been announced, which are expected to be delivered in 2014.
As a result of the increased order book, revenue and operating profit of IAI in 2014 will be higher compared to 2013. IAI will continue to focus on the production and timely delivery of the systems and on winning new orders in new and existing markets. In 2014, there will be further investments in the expansion of the production capacity and the IAI organisation, in order to realise further growth.
Annual General Meeting of Shareholders
The Annual General Meeting of Shareholders of DOCDATA N.V. will be held on 13 May 2014, 14.00 hours (CET) at Hotel NH Waalwijk in Sprang-Capelle (The Netherlands).
The agenda for this General Meeting of Shareholders and the meeting documents, including the 2013 Annual Report and the 2013 Remuneration Report, have been published last 1 April. The manner in which to register to attend this meeting, as well
as how to cast vote through the Internet or by proxy, is described in the convocation.
All these documents are available for inspection and can be obtained through the Corporate website of the Company, http://www.docdatanv.com.
If the Annual General Meeting of Shareholders approves the dividend proposal to distribute € 0.70 per share out of the 2013 profit, a dividend of in total € 4.9 million will be paid on 23 May 2014. This amount shall for the largest part be funded from the cash surplus, which will temporarily be supplemented by using the existing credit facility of DOCDATA N.V.
The listed DOCDATA N.V. exists of two lines of business:
Docdata (http://www.docdata.com) is a European market leader with a strong basis in The Netherlands, Germany and the United Kingdom. Docdata offers a complete e-commerce service portfolio to clients, enabling them to be successful on the internet.
IAI (http://www.iai-industrial-systems.com) is a high tech engineering company specialised in developing and building systems for very accurate and high speed processing of all kinds of products and materials. IAI delivers clients globally in the following sectors: securing and personalising of security documents, processing of solar cells and modules and processing of other materials and products.
- 13 May 2014 Annual General Meeting of Shareholders
- 15 May 2014 Ex date
- 23 May 2014 Dividend payment date
- 17 July 2014 Publication of 2014 half-year results
- 15 October 2014 (*) Interim notice third quarter 2014
(*) provisional date
Waalwijk, The Netherlands, 23 April 2014
Corporate website: http://www.docdatanv.com
1. adjusted for the effect of the consolidation of Stichting foundation docdata payments
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