EQS Group-News: Sandpiper Digital Payments AG
/ Key word(s): Half Year Results
30.08.2019 / 18:00
SANDPIPER Digital Payments AG publishes half-year figures for 2019
- Sales increase by 7.4% from EUR 12.7 million to EUR 13.6 million
- Improvement in organic revenue and EBITDA growth
- Concentration on core business leads to EUR 277k profit
St. Gallen, August 30th 2019 - SANDPIPER Digital Payments AG (BX Swiss, Ticker: SDP, www.sandpiper.ch, ISIN: CH0033050961), announces its unaudited consolidated half-year results according to Swiss GAAP FER for the first half of 2019.
Sales increased by 7.4% from EUR 12.7 million at the end of the first half of 2018 to EUR 13.6 million in 2019, despite the effects of the deconsolidation of Multicard Nederland B.V. and the sale of PAIR Solutions GmbH. Ergonomics AG and InterCard AG Informationssysteme contributed good organic revenue growth. The increase of InterCard's stake in Swiss Polyright S.A. to 52% generated a further additional revenue contribution. Polyright and InterCard already worked closely together both operationally and technologically.
While revenues increased by 7.4%, operating costs were reduced by 1.9% compared to the first half of 2019. By concentrating on the core investments and further cost optimization measures, a profit of 277k was generated for the first half of 2019. In particular, InterCard and the deconsolidation of Multicard Nederland B.V. made positive contributions to earnings.
Additional costs were saved on the holding level. In particular, short-term liabilities were converted into long-term loans at lower interest rates. Cooperation between management and the boards of directors with the associated companies was also intensified. The existing member of the SANDPIPER Board of Directors Steffen Seeger was elected as Supervisory Board of InterCard, while Dieter Fröhlich is now also new member of the Board of Directors of Belgian Playpass N.V. The successful international entrepreneur and investor Walid Abboud has been won as a new member of the Board of Directors of SANDPIPER Digital Payments AG. At the Annual General Meeting, measures were adopted to eliminate half of the capital loss by offsetting the general statutory capital contribution against the loss carried forward.
"In the first half of the 2019 financial year, SANDPIPER implemented further cost savings and took measures to increase sales through business development, e.g. in growth areas such as Smart City, and the use of overlapping market access," states Frank Steigberger, Managing Director of SANDPIPER.
The Half-Year Report 2019 is available on the company's website, www.sandpiper.ch
About SANDPIPER Digital Payments AG
SANDPIPER Digital Payments AG, www.sandpiper.ch, is a listed holding company focusing on innovative mobile and digital payment systems, multi-application solutions such as physical and logical access systems and their underlying digital security services and technologies. The company is one of the leading and largest providers of closed-loop payment solutions and customer loyalty systems for educational institutions, public authorities, event and transport operators, retailers and brands.
SANDPIPER holds a majority in InterCard AG Informationssysteme, Ergonomics AG, IDpendant GmbH and is the largest minority shareholder in Playpass N.V.
Contact: Email email@example.com; Tel: +41-79-696 2773; Website: www.sandpiper.ch