ECA SA reports consolidated earnings results for the first half year ended June 30, 2018. For the half year, revenue was EUR 50.4 million against EUR 54.4 million reported a year ago. EBITDA was EUR 5.3 million against EUR 3.6 million reported a year ago. Operating income was EUR 0.9 million against EUR 0.7 million reported a year ago. Net income was EUR 1.0 million against EUR 0.3 million reported a year ago. Adjusted EBITDA was EUR 5.5 million against EUR 4.3 million a year ago. Adjusted operating income was EUR 1.7 million against EUR 2.0 million a year ago. At June 30, 2018, net debt stood at 10.9 million, including treasury shares of 1.3 million against 13.0 million at December 31, 2017. Cash flow generated by the activity increased sharply in the first six months of the year to EUR 4.2 million against negative cash lows of EUR 5.0 million in 2017. It benefited from an improvement in working capital requirements, which decreased significantly by 2.2 million at June 30, 2018 against an increase of 7.9 million at June 30, 2017.

For 2018, the company confirms its target of a slight increase in 2018 revenue compared with 2017, and of improved profitability, with a focus on better operating efficiency and cost reduction.