RapidCloud : Final Results for the year-ended 31 December 2015

Final Results for the year-ended 31 December 2015

29 June 2016

RapidCloud International Plc (AIM: RCI), the enterprise cloud computing services and web-solutions provider based in Southeast Asia, announces its Final Results for the year ended 31 December 2015.

Highlights of 2015

Financial highlights

• Revenue of RM17.1 million (2014: RM17.8 million)
• EBITDA of RM3.18 million (2014: RM5.36 million)
• Cash as at year-end of RM6.8 million (2014: RM3.9 million)

Operational highlights

• Several new contracts awarded including RedBox, the award winning courier service of Air Asia, a world's leading printing enterprises and a major Southeast Asian airline
• Signed significant strategic agreements with Hewlett Packard, CS Loxinfo and Oriented Media Group Bhd
• Successfully launched several new products and services during the period, including:
  • RapidDocs
  • ManageWeb
  • Internet of Things Connectivity Management Solution
• Enhanced the Board with the appointment of Cindy Choo as Finance Director
• Significantly strengthened the balance sheet through the strategic investment of £1.74 million and the payment of the interim dividend of £0.0067 per share through by cash and a reverse scrip dividend

Raymond Chee, Managing Director of RapidCloud, said: '2015 was undoubtedly a period of consolidation with significant investment in products, services and the sales and marketing functions across the Company against a difficult market backdrop across the Southeast Asia region.

'The commercial agreements now signed, with both national and international organisations, demonstrate the strength of the Company's products and services and the board believes the launch of the new products and services, coupled with the strong financial control of all aspects of the Group, has positioned the Company for significant and sustainable profitable growth during 2016 and beyond.

'Trading in 2016 has started in-line with management expectations and the Company looks forward to providing further updates to the market in due course.'

For further information, please visit www.rapidcloudasia.com or contact:

About RapidCloud

RapidCloud, provides computing services, web-hosting and proprietary web-solutions, such as web-site building and e-commerce solutions. The Company is based in Southeast Asia and is one of the few solutions providers in the region to deliver its offerings through all three available Cloud Computing segments, i.e. Software-as-a-Service, Infrastructure-as-a-Service and Platform-as-a-Service.

Formed in 1999 the Company has a well-established cloud offering with a customer base of over 43,000. These are predominantly SMEs but also include blue-chip clients such as Deloitte, BAE Systems and Canon, for which RapidCloud's extensive R&D department creates bespoke software solutions.

RapidCloud currently has operations in Malaysia, Indonesia, Singapore, Thailand and the Philippines. According to industry research commissioned by RapidCloud from Frost & Sullivan in 2013, the Cloud Computing industry in Asia Pacific is expected to grow at a CAGR of 49.6% between 2013 and 2015, giving a market size of US45.6 billion by 2015. RapidCloud International plc was admitted to AIM on 14 August 2013.

For further information, please visit www.rapidcloudasia.com