Staramba : with strong business development in the first half of 2017 - raised forecast confirmed

Ad-hocStaramba SE with strong business development in the first half of 2017 - raised forecast confirmed

28th September 2017

Staramba SE (XETRA: 99SC), the world market leader in photogrammetry systems and specialist for virtual reality-based social experience software, today published its half-year report 2017. Staramba, which is listed in the General Standard, generated a significant increase in sales to EUR 5.4 million (previous year: EUR 1.7 million) in the first half of 2017. With the achieved sales mark, Staramba SE is fully in line with the sales forecast, which was raised in April 2017. Staramba thus confirms the preliminary results announced on July 19, 2017 for the first six months of the current fiscal year. The positive growth momentum is fed by all three divisions. This includes the sale of 3D scanners, 3D figurines and digital products.
The acquisition of Staramba USA Corp. (SUSA), headquartered in New York in April 2017, the company set the course for growth at an early stage. SUSA operates in the same 3D market segment as Staramba SE and holds substantial licenses and exploitation rights to world-renowned stars in the sports & entertainment sector, including World Wrestling Entertainment (WWE), Inc. The two divisions complement each other perfectly, and the synergy potential is enormous. At the same time, Staramba SE opened up a large, vibrant and dynamically growing market in the USA in terms of 3D scanning technology and the marketing of 3D figurines and 3D files. The high degree of openness of US market participants to scanning software and hardware is enormous and is reflected in the company's half-yearly report. In the course of the acquisition, Staramba SE increased its stake in Social VR GmbH (formerly Social VIP GmbH) from 48% to 96%. All content, including the personnel of the two companies, was then immediately taken over and the shares were sold. The employees have been fully integrated into the business operations.
The rapid pace of growth and the rigorous implementation of the Staramba strategy resulted in a three-year agreement with the leading US provider of pop-up store concepts, JBC & Associates, LLC, in May 2017 for the distribution of more than 100 3D INSTAGRAPH® scanners to be placed and operated in selected shopping malls across the US.
At the end of the reporting period, Staramba launched its new scanner, the 3D INSTAGRAPH® 'Fusion'. The 'Fusion' scanner is the world's first 3D photogrammetry system scanner that eliminates the need for costly post-processing of 3D data and enables 3D human scans in a fraction of a second. Mass production was immediately initiated.
'Looking back at the past six months, I am proud and pleased with the results achieved. Every employee has contributed to this great result. This was the only way to achieve the goals we had set ourselves. So we can now say: 'Promised and delivered`. The speed with which we have achieved the desired changes in the company is enormous. We want to maintain this as far as possible. Our focus for the current fiscal year is now on the further development of our VR-Experience, which was released in mid-September as an alpha version on Steam. We are also working on the implementation of a global distribution infrastructure for Staramba's 3D INSTAGRAPH® Scanner and the integration of each sold scanner into a global cloud platform. Customers benefit from numerous additional benefits for their workflow and further sales opportunities for their scans. We are already negotiating with several major mall and shopping center operators in Germany, America and Asia. In addition, we are currently concentrating on acquiring the remaining major football clubs as license partners, 'says Christian Daudert, CEO of Staramba SE.
For the third and in particular the fourth quarter, management expects a significant increase in sales and confirms the sales forecast of EUR 15.9 million for the fiscal year 2017. Owing to the high utilization of production capacities, the high order backlog with regard to the 3D INSTAGRAPH® as well as the partial monetisation of digital products that has already been realized, these goals appear to the management to be sustainably attainable.
The half-yearly report of Staramba SE is available for download at http://staramba.com/about/investors/publications .

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