Evolis notes revenue growth
30 January 2019 17:37 GMT

Plastic card personalization and printing systems firm Evolis achieved consolidated revenue of €82m ($93m) for the 2018 financial year, up 2.5% (5.9% at constant exchange rates) versus 2017.

Christian Lefort, Chief Executive Officer of Evolis, comments: “Following a difficult first-half 2018, Evolis delivered a double-digit growth in the second half of the financial year. Since July the Group has been benefitting from initial structuring effects - particularly in the United States for the Channel business -, and from 90% of revenue generated traction in the Projects business in Europe and India, as well as more favourable exchange rates. All our teams remain focused on delivering strong growth over the next financial years.”

Channel business grew 9.2% in fourth-quarter 2018, with revenue of €14.3m.
Growth seen in third-quarter 2018 was confirmed in fourth-quarter 2018.
For the 2018 financial year, the Channel business posted revenue of €55.8m, up
3.7% versus 2017 (+6.8% at constant exchange rates). Such a performance masks
the difference in business between the first and second halves of 2018. In second-
half 2018, revenue grew 8.2% versus second-half 2017. Channel business grew in
the EMEA region, bolstered by the Edikio solution roll-out in Europe in addition to
growth in sales in the Asia-Pacific region.

Project business grew 9.8% in fourth-quarter 2018 (+17.9% at constant exchange
rates). The Americas benefitted from an upturn in its banking activities, continuing
the momentum started in third-quarter 2018. The EMEA region was driven by
growth in Europe with the roll-out of the Edikio solution.

Full-year revenue for the Project business ended at €22m (+6.3% at constant
exchange rates). Following a first-half impacted by the political and economic
context - particularly weighing on the Middle-East and Latin America - and
unfavourable exchange rates, second-half 2018 benefitted from the delivery of two
important contracts: one with a large German retail chain for the Edikio solution
and another in India with a system integrator. Second half growth for Projects’
activities ended at more than 26% versus second-half 2017.

In terms of regions, all saw growth this quarter and over the financial year. In 2018,
Asia-Pacific (excluding India and China) is the region that recorded the strongest
growth, driven by several government and banking projects. The Americas saw
growth momentum at 4.4% at current exchange rates (+10.1% at constant exchange
rates) benefitting both from Projects delivered across the continent, but also from
recovered second-half momentum in the Channel business in the United States.
In the EMEA region, Europe stood out, propelled by Edikio, offsetting the decline in
business in the Middle-East.


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