Authorizations and software activities trigger Keyware’s revenue growth in the third quarter

Today, Keyware (EURONEXT Brussels: KEYW) discloses the financial results for the first nine months of 2017, which ended on 30 September 2017. The key figures for the first nine months of 2017 can be summarized as follows:

• Revenue amounts to 13,773 kEUR compared to 13,239 kEUR
• Profit before taxes amounts to 2,079 kEUR compared to 3,200 kEUR
• EBITDA decreases from 3,671 kEUR to 2,852 kEUR
• Net profit amounts to 1,388 kEUR compared to 2,397 kEUR
• Lower profitability mainly occurred during the first semester. The third quarter of 2017
• shows an increase in revenue, partly due to the positive contribution of Magellan’s results (as from 1 July 2017) and higher authorization revenues
• Lower profitability is also explained by additional personnel costs and other expenses by Keyware T&P GmbH as well as EasyOrder, both start-up companies, and higher depreciations
• The acquisition of the remaining 60% of the shares in Magellan took place at 30 June 2017 and amounted to 6,000 kEUR, financed for 1,500 kEUR and 4,500 kEUR through respectively own funds and bank loans
• The EasyOrder investment amounts to 700 kEUR, of which 200 kEUR still has to be paid. Fully financed by own funds
• With respect to the share buy-back programme, the company held 279 kEUR worth of shares at 30 September 2017
• At 30 September 2017, the Group holds 3,357 kEUR in cash and cash equivalents compared to 1,045 kEUR at 31 December 2016; the financial debts amount to 9,862 kEUR compared to 6,292 kEUR