Emakina Blog

Everything you always wanted to know about us but were afraid to ask. Available now, in French or in Dutch.

As a publicly traded company, we announce today our financial results for 2007. An extremely positive year which confirms Emakina’s position as a key European player in its sector. For the financial year 2007, Emakina posted sales of 17.371.543 EUR compared to 8.448.423 EUR for the previous year, an increase of 106% and a performance above the initial forecast of 15 000 000 EUR. At constant scope, sales increased by 47% in 2007. Emakina’s EBITDA (operating profit before depreciation and amortization) rose by 44% and reached 1 576 603 EUR compared to 1 095 162 EUR during the previous year. Finally, earnings per share rose from 9.91 EUR cents in 2006 to 18.69 EUR cents in 2007.

For further information, download the official press release in Financial Results section of our website.

The rumor was running in the market, it’s now official: The Reference has a new Managing Director in the person of Anja Cappelle who succeeds to Alexander van de Rostyne in the same function. Alexander, who did a tremendous job since his arrival at The Reference in 2003, abandons the day-to-day business but will stay however in the Boards of Directors of the company to share his long industry experience with the team. For Anja, no need to say this appointment is a new exciting challenge that crowns her 12-years career at The Reference. Congrats!

As a publicly traded company, we announce today our results for the first six months of 2007. Thanks to a strong growth in sales and new acquisitions, we’re now positioned as the foremost interactive agency in Belgium.

For the first 6 months of 2007, Emakina Group posted sales for a total of 6.129.173 EUR, against 4.089.339 EUR over the same period in 2006, corresponding to a 50% increase (+32% at constant scope, excluding new acquisitions). These excellent figures are mainly due to the winning of new customers as well as an increase in demand from existing customers. The operating profit before depreciation and amortization (EBITDA) amounts to 665.966 EUR corresponding to 11% of total sales. The operating margin is equal to 523.720 EUR corresponding to 9% of total sales. The net result before goodwill amortization amounts to 279.515 EUR corresponding to 5% of total sales.

For further information, download the press release in our Investor section.

Yesterday, we announced our alliance with the Ghent-based agency The Reference. The combination of our two companies sees the birth of a new leader in the Belgian market for interactive agencies.

Established in 1993, The Reference is one of the best-known interactive agencies in Belgium. Its team comprises some 40 people, working for prestigious customers like Telenet, VRT, Ecover and KBC. In 2006, it generated revenues of almost 4 million euros. Today, we are joining forces and combining our talents to form a new market leader in Belgium, with the ambition of expanding on an international scale. The Reference brings us greater flexibility, greater technological expertise, top-class customers, and a very strong brand in the Dutch and Flemish-speaking market.

With this development, we once again confirm our position as market leader in Belgium. Following the acquisitions of B On The Net (Brussels), Design is Dead (Antwerp), SunTzu (Rotterdam) and groupe Reflect (Paris and Limoges), Emakina Group is now a European network of agencies, employing some 200 people across the Old Continent.

- For the financial details of this operation, check out the Investors section on our website.
- The Weblog, the official blog of The Reference.
- Digimedia : “The Reference and Emakina become together the largest interactive agency in Belgium”.

We’re very pleased to announce that groupe Reflect is now a member of Emakina Group. Located in Paris and Limoges, our 17 new French colleagues have a strong background in Web 2.0 and serve large accounts like Legrand, Nike, L’Oréal or Danone (have a look at their weblog which provides a good insight into their their corporate culture). With this new acquisition, our European network makes a new leap forward and totals more than 160 employees, spread over 3 countries and 5 agencies: Emakina, B. On The Net, Design is Dead, SunTzu and, since yesterday, groupe Reflect.

- The pictures of the party at groupe Reflect’s office.
- A screenshot of the countdown on the groupe Reflect’s website
- The buzz in the French blogosphère: Jacques Froissant, Jean-Luc Grellier (Project Manager at groupe Reflect), Sylvain Ratton (trainee at GR)…
- The article on Journal Du Net.
- Enterprise Outsider interviews Manuel Diaz.

PRESS RELEASE

BRUSSELS, APRIL 11, 2007 - Emakina Group announces today the acquisition of the Dutch agency SunTzu BV. This new acquisition allows Emakina Group to reinforce its interactive marketing expertise and expand on a European scale.

Based in Rotterdam, SunTzu BV is a 18-person agency reputed for its creative talent. Its customer portfolio includes the likes of Unilever, Logitech, Maxxium or MSN. In 2006, SunTzu BV, which has been profitable since its creation in 2002, realised business sales of around 2,000,000 euros.

“SunTzu will enable us to serve our customers even better and to expand beyond our borders,” explains Denis Steisel, CEO of Emakina Group. “We are already working for Dutch customers. Having an office in Rotterdam is an additional asset to serve them better. In addition, SunTzu has a strong corporate culture based on very solid teamwork. Its level of creativity and expertise, particularly in e-mail marketing and brand name web sites, won us over. We are equally delighted to pursue our collaboration with the CEO of SunTzu Holding BV, Geert Rietbergen, who has significant experience in running interactive agencies, in the Benelux as well as in other countries. SunTzu BV’s management will remain involved in the company, which guarantees stability for the future.

For SunTzu, becoming part of Emakina Group means a new beginning. “Emakina Group is a fabulous springboard for continuing our growth,” highlights Raymon de Kruijff, General Manager of SunTzu BV. Our team will benefit from Emakina’s full service positioning, capable of serving all of its client’s needs. Emakina also brings us its organisational structure from which our clients will certainly benefit.”

Emakina is thus pursuing its European market growth strategy in a way that is both prudent and pragmatic. After B. On The Net (Brussels) and Design is Dead (Antwerp), the Emakina Group is currently extending its active presence throughout Benelux.

From a financial perspective, the integration of SunTzu BV should increase Emakina Group’s overall margin. This acquisition should be create value and will be financed by capital resources, part of which will come in cash and the remainder in newly issued shares of Emakina Group based on SunTzu BV’s sales for the financial years 2007, 2008 and 2009. These terms appear to be particularly motivating for both parties.

Throughout this transaction, SunTzu BV has been assisted by PE Group which has acted as SunTzu Holding BV’s exclusive financial advisor.

This transaction will be subject to the usual representations and warranties for this type of transaction.

Emakina Group announces today excellent results for 2006 and forecasts a turnover growth of 40% this year. Some key figures to be pointed out:

- Sales growth: +68%
- EBITDA: +92%
- Consolidated turnover: 8.448.424 euros

For further information, the official press release is available in the “investor” section of our website.

After a pitch organised by our client, Emakina is now the main interactive agency for the Proximus brand. We were already responsible for Proximus.be and the affiliated micro-sites (excepted Vodafonelive.be) as well as some viral campaigns (like Ilovejosiane.be). Upon this basis, we add now the webvertising (banners, skyscrapers…) and the e-mail marketing campaigns. Objective: to bring a more coherent, integrated communication between the multiple interactive channels used by Proximus to reach the consumer. No need to say our team is very excited by this 360 degrees approach and the new challenges ahead. For more information, check out the official press release in French or in Dutch.

We’re delighted to announce that Design is Dead is now part of the Emakina Group. For those unfamiliar with this company, Design is Dead (DiD) is an Antwerp-based agency with a strong focus on design and technical know-how.

Why Design is Dead?

- They form a very inspired, passionate crew whose corporate culture is very close to ours
- We already collaborated with them for several clients and we really enjoy their work
- They’re located in Antwerp, a city that is now a place-to-be for culture, advertising and education

For all these good reasons, we think that DiD will bring a lot of added value to even better serve our clients. More details in the official French and Dutch press releases.

Yesterday evening at the Euronext Brussels Awards, we got “First Alternext Performer” (see picture below). This distinction emphasizes the excellent evolution of Emakina Group’s listing between 7th July and 31st December 2006, from 8.55 euros to 9.50 euros (+ 11,1%). Not too bad for a newcomer on stock markets ;-). We thank our stakeholders for their trust and hope to do even better this year.

Olivier Lefevbre (Euronet Brussels) congratulating
Denis Steisel (CEO Emakina Group)

(PRESS RELEASE) Emakina today announces its results for the first six months of 2006. Consistent growth is consolidating its position as the foremost independent interactive agency in Belgium.

For the first six months in 2006, Emakina (Euronext Brussels: ALEMK) posted sales of a total of 4,089,338 EUR, against 2,225,660 EUR over the same period in 2005. This represents a progression of 84 % compared to last year.

These excellent figures are mainly due to the acquisition of new contracts as well as a strong growth in demand amongst existing clients. The operating profits before amortisation (ebitda) for the first half-year of 2006 total 804,212 EUR, compared with 135,299 EUR in 2005. The net result for the same period reaches 403.148,46 EUR, for –15,830 EUR in 2005.

High points of the first 6 months

The first six months finished on a very positive note thanks to the favourable market conditions and the agency’s capacity to efficiently satisfy demand. Operational margins over the period reached 20 %, against 6 % for the same period last year. “This increase in margins stems from a better use of our fixed resources and an improved occupation rate” explains Denis Steisel, CEO of Emakina. “Our sales forecast policy and optimisation of resources planning is bearing fruit.” Emakina is also delighted to count new clients looking for a “full service” agency to develop their Internet projects: Petercam, Fédérauto, Keytrade, Touring Assurances, Glaxo Smith Kline, Boek, Vacature…

The first six months were also marked by first-rate technological and creative innovations. Emakina is notably behind VW Escape TV, a premiere in the field of interactive communication. “VW Escape TV is the first TV channel you can watch on your iPod, portable phone or portable PlayStation. A project of this type opens new possibilities for advertisers”, notes Brice Le Blévennec, President of Emakina’s Board of Directors.

Perspectives for the second half of the year

We remain confident concerning the evolution of our activities for the second semester. Given our current order portfolio, we believe we can maintain the growth rate of more than 80 % over the same period of 2005.

For key figures about our semetrial results, please check out our official press release.