Regulated communication - Interim business statement

Brussels, 15th May 2012 - In the Goods ID sector, a slowing of customer investment decisions has led to lower first quarter sales. Most investments are directed towards replacement and software performance enhancement. In this sluggish macroeconomic environment, recurring business, with its stability and predictability, is key for the division. 

In People ID, long-term contracts for producing security documentation are the main drivers of revenue, even if this area is expected to be down on 2011. Business development activity is particularly intense, especially in Africa. This has produced a number of shorter-term contracts: delivery of a biometric enrolment solution in Chad for civil servant identification, a service contract for preparing the electoral register in Togo and a biometric voter database in Sierra Leone for the United Nations. These new contracts will be partially completed by the end of June and will therefore count towards the divisional budget. The new organization of the division is now operational, with permanent presences in West Africa and South Africa.

With its strong balance sheet and positive cash position, Zetes has examined different acquisition possibilities, exclusively in Goods ID. None of these has so far produced concrete results. Zetes believes that the current environment will create opportunities and is organizing to seize them.

In conclusion, the economic environment remains marked by uncertainty and slower decision-making. The long-term contracts and recurring business provide stability to the Group. Zetes expects to close the first half of 2012 with lower results than in 1H 2011, with an EBITDA of between EUR 6 and 7 million.

Financial calendar 
Ordinary General Meeting: 30 May 2012
Publication of half-yearly results: 31 August 2012

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