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News Release

Cambridge, UK  03/15/2017

GLOBAL GRAPHICS PUBLISHES 2016 ANNUAL REPORT AND FINANCIAL STATEMENTS

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Cambridge (UK), 15 March 2017 (18.00 CET): Global Graphics SE (Euronext: GLOG) announces that it has published its annual report and financial statements for the financial year ended 31 December 2016.

The full document is available for download from the investors section of the Company’s web site at:  http://www.globalgraphics.com/investors/financial-reports

Should you wish to receive printed copies please send an e-mail to investor-relations@globalgraphics.com or make your request in writing, for the attention of the Company’s Chief Financial Officer, to 2030 Cambourne Business Park, Cambourne, Cambridge, CB23 6DW, UK.

Key consolidated figures
In thousands of euros
2016
2015
Change
Revenue
16,033
15,265
768
Operating (loss)/profit
(674)
1,126
(1,800)
Profit before tax
130
1,216
(1,086)
Tax benefit
466
685
(219)
Profit for the year attributable to equity holders
596
1,901
(1,305)
Basic earnings per share
0.05
0.18
(0.13)
Net cash
4,639
4,235
404

The consolidated pre-tax result was a profit of €0.13 million in 2016 compared with a pre-tax profit of €1.22 million in 2015.  The reduction in profitability of €1.09 million is due to:
  • an increase in revenue of €0.76 million;
  • an increase in cost of sales of €0.42 million
  • an increase in selling, general and administrative expenses of €2.10 million;
  • an increase in research and development expenses of €0.21 million;
  • an increase in other income less other operating expenses of €0.17 million; and
  • an increase in foreign exchange gains of €0.71 million.

Included in research and development expenses is the capitalisation and amortisation of internally generated intangible assets.  During the period there was a net expense of €1.52 million (2015: €1.32 million) related to these assets.

Included in selling, general and administrative expenses is amortisation of €1.07 million (2015: €0.29 million) related to the acquired intangible assets of URW and Meteor and share-based payment expenses of €0.95 million (2015: €0.11 million).

The exchange rate losses and gains are primarily due to the revaluation of currency balances held at the balance sheet date and the significant change in exchange rates during the year.

The Group presents adjusted financial results when reporting its financial results to provide investors with an additional tool to evaluate the Group’s results in a manner that focuses on what the Group believes to be its underlying business operations.  The Group’s management believes that the inclusion of adjusted financial results provides consistency and comparability with past reports and comparability to similar companies in the Group’s industry, many of which present the same or similar adjusted financial information to investors.
In thousands of euros
2016
2015
Change
Adjusted operating profit
3,013
3,215
(202)
Adjusted net profit
3,670
3,597
73
Adjusted basic earnings per share
0.33
0.34
(0.01)

Additional commentary and analysis of the Group's consolidated results for the year ending 31 December 2016 can be found in the aforementioned annual report and financial statements.

Annual General Meeting
The annual general meeting ("AGM") had been scheduled for Tuesday 25 April 2017 in Brussels, however, due to other business commitments, this has now been re-scheduled to Monday 8 May 2017.  The official notice of the AGM will be issued in accordance with applicable legal and regulatory requirements closer to the time.

Editors notes

About Global Graphics
Global Graphics SE (Euronext: GLOG) http://www.globalgraphics.com is a leading developer of software platforms for digital printing, including the Harlequin RIP®. Customers include HP, Canon, Delphax, Roland,  Kodak and Agfa. The roots of the company go back to 1986 and to the iconic university town of Cambridge, and, today the majority of the R&D team is still based near here. The font foundry, URW++ Design and Development GmbH, and the industrial printhead driver solutions specialists, Meteor Inkjet, are subsidiary companies of Global Graphics SE.  Global Graphics has offices in: Boston, US; Tokyo, Japan; and Hamburg, Germany.

Contact

Jill Taylor Corporate Communications Director Tel: +44 (0)1223 926489 Email: jill.taylor@globalgraphics.com Graeme Huttley Chief Financial Officer Tel: +44 (0)1223 926472 Email: graeme.huttley@globalgraphics.com