SANDPIPER Digital Payments AG announces unaudited semiannual figures for 2018
- Sustainable cost savings on SANDPIPER holding level and in daughter companies show positive effects
- Revenues at EUR 12.7 Mio. slightly behind expectations due to a project delay
- Strong improvement of organic and EBITDA growth at biggest daughter company InterCard
St. Gallen, August 31, 2018 - SANDPIPER Digital Payments AG (BX Swiss, ticker: SDP, www.sandpiper.ch, Open Market, Frankfurt, ISIN: CH0033050961), announces the unaudited consolidated interim financial statements according to Swiss GAAP FER for the first half year 2018.
The revenue of EUR 12.7 Mio. is slightly behind expectations due to project delays in daughter companies. The comparable revenue for half year 2017 was at EUR 13.5 Mio. and therefore EUR 0.8 Mio. higher than for the half year 2018. The main reason is the delay of the go-live of a development project for a new product, which will generate recurring revenues for the next four years and deliver additional revenue potential.
In the first half of 2017, revenues of EUR 2.5 Mio. from Polyright and Sandpiper Asia had been additionally consolidated, while both companies were then sold in Q3 2017. InterCard AG Informationssysteme, a 51% daughter company of SANDPIPER, has the possibility to increase its stake in Polyright above 50% till 2021. InterCard and Polyright work operationally and technologically already closely together.
Even without the majority at Polyright, the biggest SANDPIPER daughter company, InterCard could significantly increase its revenues by 11% and its EBITDA (EUR +379k), EBIT (EUR +374k) and EBT (EUR +384k) and therefore turned positive compared to 2017.
The cost savings of EUR 1 Mio. on holding level show positive effects on the EBIT line at EUR -1 Mio. in the first half year 2018 (1. half year 2017: EUR 3.2 Mio., dominated by one-time effects). Additionally, further actions were taken in the daughter companies, which can positively affect the following periods. The NAV is at EUR -0,01 per share, and the total assets were reduced by EUR 2.3 Mio. to EUR 17.4 Mio. by selling shares as part of the non-current financial assets.
The designated experts Franz Herrlein, Dieter Fröhlich and Steffen Seeger could be won as new members of the board of directors of SANDPIPER Digital Payments AG.
"SANDPIPER concentrated on the implementation of sustainable cost savings and its core businesses. Additionally, we started the development of selected future growth areas like smart city projects", states Dr. Cornelius Boersch, president of the board of directors of SANDPIPER.
The daughter companies have started to work more closely together in marketing, sales as well as shared services. Besides a more intense collaboration on the purchasing of goods and services, the daughter companies also coordinate regarding administration, technology and IT. In addition to the cost savings, the second half year is traditionally stronger than the first half.
After the closing date, SANDPIPER signed a capital increase at InterCard with another investor. The gross proceeds of EUR 378k will mainly be used for the development and integration of new products and the further development of the business. In addition, Playpass, another investment of SANDPIPER, could win a financial investor, which will help to finance and jointly develop the business over the next years.
Steffen Seeger, member of the board of directors, comments: "SANDPIPER has put the right measures within the last month, to establish the fundament for a sustainable positive future development. I am looking forward to contributing to the success of SANDPIPER, based on my experience and knowledge".
The unaudited interim financial statements as per June 30, 2018, according to Swiss GAAP FER can be downloaded on the website www.sandpiper.ch.
About SANDPIPER Digital Payments AG
SANDPIPER Digital Payments AG, www.sandpiper.ch, is a stock-listed holding company focusing on innovative mobile and digital payment systems, multi-application solutions like physical and logical access as well as its underlying digital security services and technologies. SANDPIPER belongs to the leading and biggest providers of closed-loop payment and loyalty systems for educational facilities, public authorities, event and mobility operators, retailers and brands.
SANDPIPER holds majorities in the companies InterCard AG Informationssysteme, Ergonomics AG, IDpendant GmbH, Multicard Nederland B.V. sowie PAIR Solutions GmbH.
Contact: E-mail [email protected]; Tel: +41-44-7838030; Fax: +41-44-7838040; Website: www.sandpiper.ch