Preliminary unaudited results for the year ended 31 December 2014
Galasys PLC (AIM:GLS), a market leading provider of integrated amusement park solutions and services to the fast growing amusement parks industry in Asia,is pleased to announce its full year unaudited results for the year ended 31 December 2014.
Financial Highlights
- Revenue for 2014 up 45% at RM38.62m (2013: RM26.67m^)
- Gross Profit up 83% at RM19.52m (2013: RM10.64m^)
- EBITDA up 48% at RM12.58m (2013: RM8.5m^)
- Profit Before Tax up 35% at RM11.34m (2013: RM8.38m^)
- Profit After Tax up 30% at RM9.40m (2013: RM7.21m^)
- Cash RM12.22m* (2013: RM2.16m^)
- EPS RM0.16, or c. 2.91 pence
- Repeat and recurring revenue increased to 66% of sales (2013: 60%)
- Recommended final dividend of 1.084 sen, c. 0.2 pence per share
^The comparative figures for the 12 months to 31 December 2013 (refer to note 13) included above were on the basis that Galasys GLT (formally known as Green Laser Technology) was part of Galasys Group from 1 January 2013
* includes net proceeds from IPO of RM10.50m (£2.20m)
Operational Highlights
- Successful AIM IPO in May 2014, raising gross proceeds of £3.1 million at a placing price of 22.5p (net proceeds of RM10.50m / £2.20m)
- 46 new installed sites since IPO roadshow in April 2014
- Secured various new clients including Dalian Wanda Group in China and Enchanted Kingdom in the Philippines which are significant new wins
- Extended our sales network and channels into the Philippines, Indonesia, Vietnam and the UK
- Completed R&D for a number of new modules including eWallet on RFID, Mobile Ticketing, Park Map & Navigation and Smart-Q Apps and Ticketing Redemption & Vending Kiosk
- Successfully launched our Cloud Online Travel Agency (“CLOTA”) platform for theme park ticketing
- Galasys GLT (formerly Green Laser Technology) successfully integrated into the Group and performing ahead of management expectations
- Successful acquisition of I Logic Solutions Sdn Bhd (“iLogic”), a leisure and entertainment solutions provider in Malaysia
- Total staff strength increased by more than 80% to over 140 as of 31 December 2014
- Commenting on the announcement, Mr. Teh, Chairman of the Group, said:
“The Board is delighted with the Group’s robust operational and financial performance in our first full year as an AIM listed company. We have managed to build strongly on the interim performance announced in September and now have more than 100 installed sites, nearly double what we had when we started our momentous AIM IPO journey in May 2014. With such momentum and confidence, the board has committed to a maiden dividend and a progressive dividend policy.
We look forward to continuing our growth story in the coming years as we build our team, expand our market reach, launch more innovative products and services and bring in new partners to scale greater heights.”
Mr. Seah, Chief Executive, added:
“2014 has been a year of tremendous progress for Galasys. We have successfully integrated the acquisition of Galasys GLT; launched various new products and services, secured significant new customers and retained all our existing clients and sites; entered into new territories and deepened ties with our existing customers and partners. We are well positioned to continue to drive both our geographical expansion and new product and services roll-out in 2015 and beyond.
We are grateful for the support received from our shareholders, customers, business partners and staff, and look forward to continuing to work with all of you.”
(Source: 13 April 2015, http://otp.investis.com/clients/uk/galasys/rns/regulatory-story.aspx?cid=823&newsid=504584)