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smartphoto group – Update following the Covid-19 impact

Maggy Van den Stock

PRESS RELEASE – Regulated information – Inside information – Wetteren, June 16, 2021 –5:45 p.m.  – smartphoto group (Euronext Brussels: SMAR)

  • After exceptionally strong sales of books and prints in the first half of 2020, the demand for these products fell back to a normal level in 2021. 
  • The further increase in the gifts category compensates for this setback.
  • For the half-yearly figures, smartphoto therefore expects a turnover that is rather stable compared to 2020.
  • With the opening of the new factory and the expansion of the teams to support the growth, fixed costs rose, which will affect profitability in the first half of the year.
  • Despite limited visibility for the next few months, amongst others due to Covid-19, the expectation remains that smartphoto will grow in revenue and EBITDA on a full year basis.
  • Net cash continues to evolve positively.

Click here to see the full version of this press release.