Interim Management Statement Q1, 2017
TIE Kinetix N.V. (“TIE”) operational performance in the first quarter of 2017 (Oct. 1 – Dec. 31, 2016) generated an EBIT of € -85k (2016: € 196k). EU Development projects generated an EBIT of € 7k (2016: € -152k) bringing TIE’s total EBIT to -78k (2016: € 44k).

For Q1 TIE reports:
• Revenue of € 4.723k (Q1, 2016: € 5.361k).
• EBITDA of € 281k (Q1, 2016: € 350k).
• EBIT of € -78k (Q1, 2016: € 44k).

Revenue
Despite growth of our SaaS revenue, total revenue came in below Q1, 2016 caused by planned lower EU project revenue and lower consultancy revenue.
Q1, 2017 SaaS revenue grew, more than compensating the planned phase out of non-core SaaS products (e.g. hosting of German portals and custom work for TMobile shops in the Netherlands).
Q1, 2017 consultancy revenue came in below Q1, 2016, since Q1, 2016 consultancy revenue included € 300K revenue guarantee of TFAG, which expired on January 1, 2016. Furthermore, lower chargeable hours, due to lower activity levels and higher development efforts for FLOW caused lower consultancy revenue.

Cost of sales and Operating Expenses
Lower cost of sales (€304k) and operating expenses (€264k) almost compensated lower revenue resulting in an EBITDA effect of €69k compared to Q1, 2016.

Order Intake
In Q1, 2017 Order Intake amounted to € 3.3 million (Q1, 2016: € 3.7 million), including € 2.4 million (Q1, 2016 € 2.4 million) of new services to existing and new clients. The remaining Order Intake of € 0.9 million consists of customer contract renewals. The reduction in contract renewals follows phase out of certain non-core products following our strategic focus.

tijd 10.06
TIE EUR 9,829 -92ct vol. 11.342