Communiqués de presse - Finance An excellent first half of 2015

Published 2015-08-27

An excellent first half of 2015

  • Consolidated Revenue: +14%
  • Consolidated Revenue B to B : +49%
  • Consolidated EBIT: +63%
Brussels, 27 August 2015 at 5:35 PM - Regulated information

RENTABILIWEB GROUP (ISIN BE0946620946 -- Mnemo BIL) has today published its results for the first half of the 2015 financial year. They show a good second quarter and are characterised by an increase in turnover of almost 14% and a significant upturn in EBIT.

Key figures for the first half of 2015

Mr. Jean-Baptiste Descroix-Vernier, the Founding President of Rentabiliweb, states : « In barely 36 months, Rentabiliweb has succeeded in considerably modernize its products and preparing itself for the future. The performance and synergy of the tools offered to merchants have helped sustain strong growth. The strategic growth model we have chosen pays off.» Half-yearly results: an excellent first semester

The consolidated turnover of the Rentabiliweb Group stands at €38.5m, up 14% on the first half of 2014, thanks to a very good second quarter, which saw an increase of 25% compared to Q2 2014 and sequential growth of 17% (compared to Q1 2015).

B to B now represents nearly 60% of total Group turnover.

EBIT for the first half of 2015 stands at €1.7m, up 63% on H1 2014. The EBIT margin thus increased by 1.4 percentage points. This significant increase results from the combined effect of a €0.5m rise in B to B EBIT and stable B to C EBIT. This double-digit growth was realized (i) in a difficult global market situation for B to C and (ii) in a context of continued investment effort to accelerate development of B to B activites.

B to B division : a fast development

B to B division consists of three complementary activities designed to increase the revenue of retailers (online and offline):

  • Payment by credit card (Be2bill) optimizes transaction on the Internet, mobile, tablet and physical payment terminal.
  • Direct marketing boosts sales and increases customer loyalty
  • Telecom activies provide interactive services to merchants and allowing them to stay in touch with their clients

The B to B division turnover stands at €22.5m, up 49% on H1 2014, continuing to grow during the two quarters compared to the two 2014 quarters (+42% in Q1 and +52% in Q2). The division also shows strong sequential growth (+19% in Q2 2015 compared to Q1 2015).

Be2bill have three main activities : VAD (distance selling via the Internet), mobile and physical shops. The VAD activity is the pole which required the heaviest investments in the years 2012, 2013 and 2014. The physical shops area was launched in October 2014 simultaneously with the mobile payment. The first half of 2015 marks the equilibrium point (break even) of VAD France, now profitable.

Over 2500 stores now use our Be2bill bank card payment system. Nearly 5500 merchants use at least one of the systems provided by Rentabiliweb, whether for payment, marketing or telecom.

Thanks to the high number of signatures achieved, the Run Rate for the first half of 2015 stands at €1.04bn, despite the decision taken by Be2bill to close a key customer account (€263m of annual business) for prudential reasons.

Telecom activity is also showing sustained growth, in particular as regards AVS (Added Value Services).

The B to B division EBIT stands at -€1.2m in the first half of 2015, up €0.5m on H1 2014. This includes a non-recurring loss of €0.8m.

B to C division: high operating margins are sustained B to C turnover stands at €16.1m, down 15% on H1 2014.

Continued high gross operating margins, combined with reduced operating charges (-€1.4m) have resulted in stable EBIT, compared to H1 2014, of €4.6m. The EBIT margin has increased significantly, up 4 percentage points to 28.5%.

Corporate division : expenses under control

Corporate division EBIT is up €0.2m, a 12% increase on H1 2014. This variation is due in particular to rigourous control of expenditure, as well as certain non-recurring 2014 charges, such as the setting up of a key subsidiary in Amsterdam.

A robust financial situation The Group has closed the first half of 2015 in a very healthy financial situation.

Indeed, on 30 June 2015, surplus cash stood at €12.3m, up €2m compared to 31 December 2014. The €12.3m of surplus cash breaks down as follows:

  • €6.2m of cash on Group accounts;
  • €6.1m of cash on the Electronic Payments holding account.
Equity amounted to €75m on 30 June 2015.

The group Rentabiliweb is 100% self-financing as regards its investments and has no debt and no off balance sheet.

Outlook

Rentabiliweb is continuing its strategy of gaining market share in France and intends to expand abroad in the short term. The group upholds its installed Run Rate ambition for 31 December 2015 of between €1.5bn and €1.7bn, together with a signed Run Rate of between €2.6bn and €3bn.

Next publication Publication of Q3 2015 turnover: 5 November 2015. Annexes Consolidated income statement
Group


B to B


B to C


Corporate





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