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Loqus Holdings plc - Full-Year Results

Wednesday, September 23rd, 2015

On 22 September, Loqus Holdings plc published its full-year results for the financial year ended 30 June 2015.

Performance Overview

During the period under review, the Group reported a 18.5% increase in turnover to EUR4.2 million on the back of improved hardware sales related to a particular project. On the other hand, costs increased by 21.8% due to purchases relating to the hardware sales, leading to a decline in earnings before interest, tax, depreciation and amortisation (EBITDA) of €0.33 million compared to €0.37 million during the previous financial year.

Depreciation and amortisation charges dropped by 20.4% to €0.28 million whilst finance costs were reduced considerably.

Overall, the Loqus Group registered a net profit after tax figure of €0.06 million against the €0.25 million loss in the corresponding period last year.

The statement of financial position shows that total assets grew by 2.7% to €7.88 million whilst total liabilities grew by 2.2% to €6.79 million. Shareholders’ funds increased by 5.4% to €1.09 million, reflecting the profit registered during the period under review. This translates into a net asset value per share of €0.034. The return on equity (net profit divided by average shareholders’ funds) during the 2014/15 financial year was 5.3% and return on assets (pre-tax profit on average assets) of 0.7%.

During the period under review the Group continued to focus on maximising revenue from core services through operating efficiencies, increase investment in research and development and reorganizing the different departments into standalone units. The Group also took advantage of government grants received in relation to an ERDF scheme.

Going forward, Loqus indicated that it intends to proceed with its current strategy to achieve improved profitability. Moreover, it is pursuing opportunities to maximise the value for its fleet management business and discussions with potential partners for its sale are still ongoing.

Download

Loqus Holdings plc – 2015 Annual Report and Financial Statements

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