Artefact reported consolidated earnings results for the first half ended June 30, 2018. For the period, the company reported revenue of EUR 89,031 million against EUR 75,255 million for the same period a year ago. EBITDA was EUR 1,838 million against negative EBITDA of EUR 85 million for the same period a year ago. Operating income was EUR 1,431 million against negative operating income of EUR 957 million for the same period a year ago. Income before tax was EUR 1,081 million against loss before tax of EUR 1,496 million for the same period a year ago. Group net income was EUR 574 million against group net loss of EUR 1,486 million for the same period a year ago.

For the full year of 2018, the company expects gross margin to climb around positive 15%. Building on all of these positive components, the pro-forma gross margin is expected to climb around 15% for full-year 2018. The group also expects to see a material improvement in earnings, despite the capex scheduled for the second half for the purpose of meeting 2019 growth targets.

For the full year of 2020, the company reiterated that it is perfectly on track to achieve its market plan and ambitions namely to top EUR 100 million in terms of gross margin, with EBITDA ranging from 10%-15%, as from 2020.