Audited results of Lleida.net (BME: LLN), sales rose steepl

Madrid, 10 October - The sales of Lleida.net (BME: LLN) boosted by 34% during the first semester of 2018 compared to the same period of the previous year, in according to the consolidated and audited results presented today. 

Figures vary very slightly from the results preview presented on 16 July providing the evidence in terms of turnover, namely sales to keep on growing double-digit up to 6.28 million euros. 

The audited and consolidated accounts show that the gross margin of the company stood at three million euros, representing an increase of 16% compared to the first half of 2017. 

H1 EBITDA is almost one million euros and it represents 15% of the sales.

As already mentioned in the half yearly provisional results, the net financial debt, which has been decreasing every year since 2015, is less than two million euros.

Accordingly, the company undertook investments in R + D + i of 328,000 euros during the first half of 2018, aiming at strengthening the Software as a Service (SaaS) line products. 

An effort focused on developing new technologies, to provide service to key clients after the entry into force of the new General Regulation of Data Protection (GDPR).

During the first semester of 2018, the commercialization of the Wholesale Interconnection business line increased by 69% up to 3.23 million euros. Pursuing a criterion of prudence, the group has chosen to activate a lower amount of R & D activities to avoid possible fiscal contingencies, although the current pace of R & D spending is maintained. This new standard has allowed Lleida.net to set up processes intended for key customers, thus providing new recurring revenues.

Over the past 60 days, the shares of Lleida.net picked on July 27, when they reached 1.22 euros per share. 

At yesterday´s closing, the market value was 1.07 euros per share and the capitalization of the company was 17.17 million euros.

The company's shares have been revalued by 59.7 percent since the beginning of the year. 

Lleida.net, which is listed on the Alternative Stock Market (MAB) since 2015, has strengthened its position as the leading registered operator in the Spanish market. 

The Board of Directors of the company approved on 17 September to request authorization from its General Shareholders' Meeting to be listed on Euronext Growth, which would make it the only MAB company to have a dual listing in the Spanish and European alternative markets.

The General Assembly meeting will be held on 29 October.

Consult the RELEVENT EVENT with all the financial information from MAB website:  https://www.bolsasymercados.es/mab/documentos/InfFinanciera/2018/10/05089_HRelev_20181009_1.pdf