The following table provides information about revenue for the Group's operating segments for the quarter ended 31 March 2017.
During the quarter ended 31 March 2016, a customer in the Print segment exercised a multi-year option in their contract which resulted in the recognition of revenue totalling €2.87 million during that quarter. There was no such item in the quarter ended 31 March 2017. Gross profit
Following the acquisition of Meteor in December 2016, the Group’s sales are now comprised of software and a significant proportion of hardware. The hardware revenue attracts a higher cost of sale, resulting in lower gross margins, so gross profit margins will be influenced by the mix of product that is sold during the period. EBITDA
Historically, the Group has reported its own measure of adjusted operating profit in addition to the IFRS reported profit, however, to be consistent with general practice and to use a more familiar measure, it will report EBITDA as an alternative measure of profit.
EBITDA is calculated by adding back interest, tax, depreciation and amortisation to net profit.
For reference, EBITDA for the preceding three financial years was:
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Year ended 31 December
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The Group continues to be free of any interest bearing debt, therefore, has no interest payments or capital repayments to make.
The terms of the acquisition of Meteor necessitates a deferred consideration payment, payable in cash, which is contingent on revenue. The first payment was made during the quarter ended 31 March 2017. Annual General Meeting
As announced earlier today, the Company's Annual General Meeting will be held at the offices of Andlinger & Co, Avenue Louise 326, 1050 Brussels, Belgium on Monday 8 May 2017 at 14:00 hrs (CEST).
A copy of the complete notice and other supporting information, including explanatory notes, requirements for proof of ownership of shares and the proxy form, is available for download from the investors section of the Company’s web site at: http://www.globalgraphics.com/investors/shareholders-shareholders-annual-general-meeting
. Results for the six months ending 30 June 2017
The Company expects to publish its condensed consolidated financial statements for the six months ending 30 June 2017 after market close on Wednesday 26 July 2017.