Dalet, a leading provider of software solutions for the creation, management and distribution of multimedia content for broadcasters, operators and content producers, posted consolidated revenues of €47.4 million for financial year 2015, up 13% on the figure published for 2014 (+10% pro forma).
Broken down by geographic region, growth was primarily driven by activity in the Americas (+38% to €18.0 million with a positive euro-dollar parity impact of €2.8 million) and Asia-Pacific (+11% to €5.4 million) as the Group reaped the first rewards of its recent commercial investments. Revenues for Europe, which remains the largest contributor, were virtually stable at €22.5 million, with Africa and the Middle East accounting for €1.5 million over the period (-€0.5 million in relation to 2014).
All told, Dalet’s seventh consecutive year of growth in 2015 reflects a strong sales dynamic that combines the steady acquisition of new accounts with new orders and repeat maintenance contracts from a firmly-established client base.
Pro forma, Dalet’s Software revenues for 2015 grew 10% driven by the increase in maintenance-support contracts linked directly to the number of licenses sold in 2014. License revenues were both strong and stable in 2015, with Brio solution sales accelerating over the period.
Invoicing for services was globally in line with license sales. Hardware sales (storage, servers, etc.) were particularly high in 2015 due to an exceptionally large contract signed with a broadcaster which entrusted its entire infrastructure to Dalet.
This unusual weighting in hardware sales reduced the company’s gross margin rate (defined as sales minus cost of goods and third-party services resold) which amounted to 82% for the year as against 84% in 2014. In value terms, Dalet’s gross margin increased 10% to €39.0 million (+7% pro forma).
In a year still marked by strategic commercial investments, notably in the Asia-Pacific region, and by the reorganization of Amberfin, Dalet’s gross margin level will translate into an operating result before non-recurring items close to break-even for the period. The Group has a sound financial structure and a net debt close to zero.
Outlook: Good visibility for continued growth
Backed by a very high order book on 1 January 2016 (€36 million), and given the sustained demand for its software solutions and the cumulative increase of its support contracts, Dalet confidently expects to see further growth in 2016.
The Group will continue to expand its indirect sales with integrator partners around the world, and notably intends to increase the proportion of sales linked to packaged software solutions (products) that yield better returns.
2015 yearly results on 21 April 2016 after the close of trading.
Dalet solutions enable broadcasters and media professionals to create, manage and distribute content to both traditional and new media channels, including interactive TV, the Web and mobile networks. Dalet combines into a single system a robust and proven Asset Management platform with advanced metadata capabilities; a configurable workflow engine, and a comprehensive set of purpose-built creative and production tools. This integrated and open environment enables end-to-end management of the entire News and Sport and Program content chain, and allows users to significantly improve efficiency, and to maximize the use and value of their assets. Dalet’s solutions are delivered through a dedicated Professional and Integration Services Department to ensure the highest possible standards.
Dalet systems are used around the world by many thousands of individual users at hundreds of TV and Radio content producers, including public broadcasters (ABS-CBN, BBC, CBC, DR, France TV, RAI, RFI, RT Malaysia, VOA, WDR), commercial networks and operators (Canal+, FOX, eTV, Mediaset, NBC Universal, Time Warner Cable, Warner Bros., Sirius XM Radio) and government organizations (UK Parliament, NATO, United Nations, Veterans Affairs, NASA).
Dalet is traded on the NYSE-EURONEXT stock exchange (Eurolist C): ISIN: FR0011026749, Bloomberg DLT:FP, Reuters: DALE.PA. For more information on Dalet, visit www.dalet.com.
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