Regulated communication - Interim business progress report

Brussels, 15 November 2012 - In Goods ID, the expected improvement in earnings is becoming a reality. In the second half, the performance of the three regions is set to be significantly better than in the first half, even if the current recovery will not match the performance of the H2 2011. Zetes is actively working to improve its margins and the productivity of its teams, in particular by standardizing solutions and development methodologies. The full effect of these measures is expected from the second half of 2013 onwards.

In People ID, second half earnings are supported by the long-term contracts and the continued execution of electoral projects in Africa. Business development activity remains intense, and the strategy of conquering new long-term contracts is bearing fruit. 

By way of conclusion, in a still uncertain economic environment, decision-making remains low and difficult to predict, delaying project execution in both divisions and impacting short-term results. In this context Zetes is focusing its efforts on its competitive position and on the value added of its Goods ID solutions. In People ID, Zetes is working to ensure the proper execution of its contracts in Europe and Africa. Zetes’ long-term contracts in People ID and its recurring business and strategic positioning in Goods ID are the Group's stability vectors.

After a relatively weak first half with a current EBITDA of EUR 5.3 million, Zetes expects to end 2012 with a current EBITDA in the range of EUR 12.5 to 13.5 million. 

With its strong balance sheet and cash generating ability, Zetes is continuing its policy of buying back its own shares.

Financial calendar

Publication of annual results for 2012: 22 March 2013

Publication of the annual report 2012: 29 April 2013

General Assembly: 29 May 2013

Halfyear results: end August 2013

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