Catalis SE : Corporate News: Successful turnaround during financial year 2012; exciting prospects ahead and new appointment to the board

21.01.13 11:27

Corporate News: Successful turnaround during financial year 2012; exciting prospects ahead and new appointment to the board

Eindhoven, January 21, 2013 - Catalis SE, the worldwide service provider for the digital media and entertainment industry, is pleased to announce significant trading progress in fiscal year 2012.

•    Revenue for fiscal year 2012 to exceed € 27m (2011: € 26.4m)

•    Subsidiaries Kuju and Testronic Labs are both profitable in 2012.  Resulting group profit was in excess of € 800k (EBIT), after significant restructuring costs. Represents a significant turnaround on the losses recorded in 2011 (-€ 3.5m EBIT), and those of the two preceding years.

•    Expect significant positive net income and positive EPS for 2012.

•    Strong operating cash flow, enabling the repayment of a portion of bank debt (more than € 1.0m).

•    Testronic Labs recorded in 2012 their highest ever revenues in the company's history in excess of € 16m (2011: € 14.0m).

•    Strong incoming orders for Kuju with € 10m worth. Several projects are planned for release in the Christmas season 2013.

•    The conducted significant cost reductions in 2012 will transpire in 2013.

Dominic Wheatley, CEO, commented:

"After my appointment in early 2012 as CEO of the Catalis Group, I have taken decisive actions to reduce the corporate overheads, improve trading, and make personnel changes, all of which have already made a positive impact.  The measures already had a positive effect in fiscal year 2012, but the full effect of these changes will become evident in 2013.  Furthermore, Catalis has managed to reduce its bank debt from € 10.38m to € 9.10m over the course of fiscal year 2012, and we are focused on reducing this further.

I am also pleased to report that Kuju and Testronic Labs, the two operational divisions of Catalis, are anticipating further progress in the coming year.  Kuju's under-performing studios have been closed and key new executives have been appointed, with whose input over € 10m of high-profile contracts have already been secured.  We have also seen a rise in revenues at Testronic, a direct consequence of increasing our UK and Polish operations.  Although we were pleased with 2012's results, we have higher expectations of 2013."

Catalis can also report its intention to appoint Mr. Nick Winks as Director and Chief Restructuring Officer with effect from 6th March, 2013. Nick has been helping and advising the company for the last 18 months and now joins to help us make strategic decisions for the next period.  For this reason, the Shareholders of Catalis SE will be invited to attend an Extraordinary General Meeting of Shareholders of the Company likely on 6th March, 2013 to vote on this proposal.

For further information on Catalis SE and its wholly owned subsidiaries, Testronic Labs, DDP and Kuju, please refer to www.catalisgroup.com, www.testroniclabs.com, www.doublesixgames.com and www.kuju.com.

For further questions please contact our Investor Relations team directly:

Catalis SE

Investor Relations Team

t: [phone] - 223
f: [phone] - 499
[e-mail]

Catalis SE:

Catalis is a worldwide leading outsourcing provider focusing on high-end technical services relating to the creation of digital content for the film, video games and software industries. Catalis offers both testing and development services. It operates through its wholly-owned subsidiaries Testronic Labs and Kuju from locations throughout the UK, Europe and the USA.

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