Earnings Release • Jan 22, 2019
Earnings Release
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Leuven, Belgium – January 22, 2019 – 19h30 - Crescent (EURONEXT: OPTI; OTC: OPNVY)
Crescent NV expects a pro-forma turnover of EUR 19 million for 2018 with a slightly negative REBITDA of EUR 0.5 million. This is EUR 1 million less turnover than indicated in the press release of July 31, 2018. Despite positive developments in the Services and Lighting divisions, the results in the Solutions division remained below expectations. In particular, the delayed introduction in the fourth quarter by Option NV (now Crescent NV) of a new, cheaper and more efficient IoT gateway product line (CloudGate) has delayed the recovery of positive results for this company by six months. Nevertheless, in 2019 the Crescent group maintains the expectation of double-digit sales growth and a positive EBITDA.
At the end of December 2018, Crescent NV had withdrawn EUR 1.45 million from the additional EUR 1.5 million Belfius credit line and requested EUR 0.4 million from Van Zele Holding NV's additional credit line of EUR 0.5 million to service remaining non-financial historical debts.
The cash position remains limited.
The current reference shareholders have indicated their intention to provide the company with the necessary means to realize its objectives.
Edwin Bex Gaston Geenslaan 14 B-3001 Leuven, Belgium TEL: +32 (0) 16 31 74 11 FAX: +32 (0) 16 31 74 90 E-mail: [email protected] www.option.com www.crescent-ventures.com
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