KEYWARE TECH : confirms increase in EBITDA and net profit

Brussels, Belgium - 22 May 2014 - Keyware (EURONEXT Brussels: KEYW) today announces the financial results for the first quarter of 2014, which closed on 31 March 2014.

Sales decreased by 2.6%, Keyware generates a net profit of 219 kEUR compared to a net profit of 159 kEUR for the first quarter of 2013, which represents an increase of 38%. The net cash-flow increases from 498 kEUR to 560 kEUR.

The first quarter of 2014 recorded sales of 2,136 kEUR compared to 2,193 kEUR last year.

During the first quarter of 2014 the product mix of terminals has changed. Keyware rents out Worldline terminals as well. Mid-2013 a partnership had been concluded with the latter.

Compared to the previous quarter (Q4 2013) Keyware has been able to further increase its market share, both with respect to payment terminals and authorisation activities.

Keyware will continue focusing during 2014 on the growth of both activities.

First quarter of 2014:

- the Group generated sales of 2,136 kEUR compared to 2,193 kEUR for the same period in 2013, which represents a decrease of 2.6%;

- the operating cash-flow (EBITDA) for the first quarter amounts to 416 kEUR, compared to 366 kEUR for the first quarter of 2013, or an improvement of 50 kEUR;

- the net profit amounts to 219 kEUR compared to a net profit of 159 kEUR as at 31 March 2013, which represents an improvement of 60 kEUR;

- the net cash-flow amounts to 560 kEUR compared to 498 kEUR as at 31 March 2013;

About Keyware

Keyware (EURONEXT Brussels: KEYW) is a leading supplier of solutions for electronic payment, loyalty systems, identity applications and the related transaction management.www.keyware.com.

For additional information, contact :   

Mr Stéphane Vandervelde

President & CEO

Keyware Technologies

Tel: +32 (0)2 346.25.23

ir@keyware.com

www.keyware.com