KEYWARE TECH. (D) : Keyware realises a 43.47% growth in turnover and a 33-fold increase in net result

Brussels, Belgium - 22 November 2012 - Keyware (EURONEXT Brussels: KEYW) publishes its financial results today over the first nine months of 2012 and the third quarter of 2012 ending on 30 September 2012.

Over the first nine months of 2012, Keyware realised a 45.03% turnover growth in comparison to the same period in 2011. The net profit rose from EUR 54 k to EUR 362 k and the net cash flow rose from EUR 465 k to EUR 1,017 k.

Keyware realised a turnover growth of 43.47% for the third quarter 2012 compared to the third quarter 2011 and a increase in profit of EUR 4 k to EUR 133 k.

The first nine months were concluded with a turnover of EUR 6,303 k compared with EUR 4,346 k in the previous year and an increase in net profit from EUR 54 k to EUR 362 k.

The third quarter results exceeded expectations and Keyware realised a surplus on the positive result trend of the previous quarters.

As an innovator in the field of payment solutions, Keyware is expanding its market share quarter after quarter in important core markets such as retail, the hotel, restaurant and catering sector, government services and distribution. This translates into an increase in both turnover and results.

In July, Keyware introduced contactless payments on the market, which was a first for Belgium. In October, Keyware launched a new state-of-the-art payment terminal in the PayAway and the PayMobile product range, both of these payment terminals are revolutionary terminals in the field of ergonomics, technology, functionality and design. Finally, in November, Keyware introduced another first: the PayMobile for the Apple iPhone® and iPod touch®. In combination with its market-oriented transaction solutions, Keyware thus places itself in the top position with regard to innovative payment solutions and offers its customers efficiency, reliability and ergonomics.

Stéphane Vandervelde, CEO: 'It is clear that the market is moving away from traditional one-size-fits-all payment solutions and is opting for innovation, optimal integration in the sales environment and a demonstrable return on investment. Keyware's business model enables the company to capitalise on this trend in an optimal manner.'

First nine months of 2012:

- the Group realised a turnover of EUR 6,303 k in comparison with EUR 4,346 k for the same period in 2011, which represents an increase in turnover of 45.03%;

- the operating cash flow (EBITDA) for the first nine months came to EUR 906 k, versus EUR 366 k for the first nine months of 2011;

- the net profit for the period amounted to EUR 362 k, compared with a net profit of EUR 54 k as at 30 September 2011;

- the net cash flow amounted to EUR 1,017 k in comparison to EUR 465 k as at 30 September 2011;

- the gross profit margin declined from 82.72% to 74.08%.

Third quarter of 2012:

- the Group realised a turnover of EUR 1,944 k in comparison with EUR 1,355 k for the same period in 2011, which represents an increase in turnover of 43.47%;

- the operating cash flow (EBITDA) for the third quarter came to EUR 235 k, compared to EUR 136 k for the third quarter of 2011;

- the net profit for the period amounted to EUR 133 k, in comparison to a net profit of EUR 4 k for the third quarter of 2011;

- the net cash flow amounted to EUR 319 k in comparison to EUR 163 k for the third quarter of 2011;

- the gross profit margin declined from 82.36% to 75.15%.

About Keyware

Keyware (EURONEXT Brussels: KEYW) is a leading supplier of electronic-payment solutions, loyalty systems, identity applications and related transaction management.  Keyware is based in Zaventem, Belgium. More information is available on www.keyware.com.

For additional information, please contact:   

Mr Stéphane Vandervelde

President & CEO

Keyware Technologies

Tel: +32 (0)2 346.25.23

ir@keyware.com

www.keyware.com