On June 30, 2011, Service Point Solutions issued a Press Release – in Spanish – to talk about its expected first half 2011 results. To date, I’ve not found an English language version of that Press Release.
In the first section below, you’ll find the Spanish-language version of that press release. After that, you’ll find an English-language interpretation of that press release, as interpreted by Google Translate (which does not work perfectly.)
Spanish-language version:
Las ventas de Service Point (93% en el extranjero) aumentarán hasta 111 millones de euros y su beneficio operativo alcanzará 4 millones de euros, un 68% más, durante el primer semestre de 2011.
Barcelona, 30 de Junio de 2011. Se ha celebrado hoy la Junta General de Accionistas de Service Point Solutions, en la que la compañía ha presentado sus datos estimados de cierre para primer semestre y para el conjunto del presente ejercicio.
El EBITDA esperado para los primeros 6 meses del año es de 9,2 millones de euros, lo que representa un crecimiento del 14% respecto al mismo periodo del año anterior, asimismo se prevé que el beneficio operativo (EBIT) alcance los 4 millones de euros, un 68% más respecto a 2010.
Para el conjunto del ejercicio, SPS espera conseguir un EBITDA de 21 millones de euros (143% más) y un EBIT de 9 millones.
El importante incremento en los resultados es debido principalmente al crecimiento de las ventas de SPS en el canal online, así como la mayor implantación y desarrollo de la actividad del grupo en el sector financiero y en los servicios de impresión bajo demanda. A nivel geográfico, los mercados donde SPS espera obtener más crecimiento son los de Escandinavia (Noruega y Suecia), Reino Unido, Alemania y Estados Unidos. Actualmente, las ventas del grupo Service Point a nivel internacional representan más del 93% del total.
La Junta de Accionistas ha aprobado la emisión de acciones a favor de los antiguos accionistas de Holmbergs, como parte del pago de la adquisición de dicha compañía. Las acciones de Service Point han sido valoradas en 0,78 euros por acción a los efectos de esta transacción.
English-language version (per Google Translate):
Sales Service Point (93% abroad) will increase to 111 million euros and operating profit will reach 4 million euros, up 68% during the first half of 2011.
Barcelona, June 30, 2011. Was held today the General Meeting of Shareholders Service Point Solutions, in which the company has submitted its estimates close to the first half and for the whole of this year.
The expected EBITDA for the first 6 months of the year is 9.2 million euros, representing growth of 14% over the same period last year, also provides that the operating profit (EBIT) reached 4 million euros, up 68% compared to 2010.
For the full year, SPS expects to achieve EBITDA of 21 million euros (143% increase) and an EBIT of 9 million.
The significant increase in results is due mainly to sales growth of SPS in the online channel, as well as the largest implementation and development of the group's activities in the financial sector and on-demand printing services.
Geographically, the markets where it expects more growth SPS are in Scandinavia (Norway and Sweden), United Kingdom, Germany and the United States. Currently, the Service Point Group sales worldwide representing over 93% of the total.
The shareholders approved the issuance of shares to the former shareholders of Holmbergs as part payment for the acquisition of that company. Service Point's shares were worth 0.78 euros per share for the purposes of this transaction.
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Joel’s comments:
Just one.....
It says in the Press Release that ….“The shareholders approved the issuance of (SPS) shares to the former shareholders of Holmbergs as part payment for the acquisition of that company. Service Point's shares were worth 0.78 euros per share for the purposes of this transaction.”
Shares of Service Point Solutions are trading at just under .40 Euro per share. Does this mean that the former owners of Holmbergs, who received SPS shares as part of the purchase price of their company, are holding SPS shares that are now worth nearly 50 % less than when they were first issued?
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