Continued revenue growth for the 1st quarter of 2014
YMAGIS (ISIN: FR0011471291, memo: MAGIS), the digital technology specialist for the motion picture industry, announced today its consolidated revenue for the first quarter 2014.
First quarter sales are reported at 18.0 M€, a growth of 101.5% compared to the same period in 2013. This includes equipment sales for the final phase of VPF rollout in Spain and Germany which accounted for 7.4 M€ of the total revenue. Excluding these elements, the revenue growth remains strong at +19.1%.
REVENUE BREAKDOWN BY LINE OF BUSINESS
VPF (1) : continued growth
The VPF business revenue grew 14.5%, reaching 7.3 M€ for the first quarter of 2014. This growth is linked to the strong progression in the number of rolled out VPF screens in 2013.
Services: Digital Labs revenue more than doubled
All Services activities showed strong growth in the first quarter. In particular, the revenue for the Digital Labs activity has doubled since the first quarter of 2013, reaching 1.8 M€ in sales for the first quarter of 2014. The Digital Labs activity has benefitted from:
- A full quarter contribution from SMARTJOG to the SMARTJOG YMAGIS Logistics subsidiary, which has been fully integrated into the consolidated accounts of YMAGIS since December 1st 2013.
- In Spain, the Digital Lab in Barcelona, now fully operational, which boosted business for both postproduction activities and duplication and delivery of digital content.
As of March 31st 2014, YMAGIS delivered close to 14,500 feature films and over 71,500 DCP trailers and advertising spots across Europe, corresponding to growth of 92% and 162%, respectively, compared to the first quarter of 2013. The SMARTJOGYMAGIS network has expanded to more than 1,960 connected theaters across Europe, not including the connected network acquired from Arqiva, and integrated in April of this year.
Online support and Maintenance contributed 0.9 M€, a growth of 23.9%, driven by the expanding number of deployed VPF screens and the recurring services provided to theaters for which YMAGIS has sold projection equipment.
Altogether, and excluding sales of equipment linked to the final phase of VPF rollout in Spain and Germany, the Services business grew by 26.9%.
STRONGER FINANCIAL STRUCTURE
YMAGIS has strengthened its financial structure by increasing capital with a private investment by institutional investors in January 2014 of 5.0 M€. As of March 31st 2014, shareholder equity is 35.4 M€, of which 30.3 M€ group share, and a still solid cash position.
Strengthened by April’s acquisition of the Arqiva network, which adds a network of approximately 750 connected theaters in over 10 European countries including 378 in the United Kingdom and Ireland and 137 in Italy, YMAGIS now manages the world’s largest digital content delivery network for the motion picture industry, with over 2,500 connected theaters.
Strengthened by its expanded geographic reach and secure financial position, YMAGIS is prepared to accelerate the commercial rollout of its specialized subsidiary SMARTJOG YMAGIS Logistics, benefitting from the consolidated positions in the United Kingdom, Ireland and Italy.