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Photo-Me Intnl. (PHTM)

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Friday 14 September, 2018

Photo-Me Intnl.

Sale of Investment

RNS Number : 7529A
Photo-Me International PLC
14 September 2018
 

 

 

 

14 September 2018   

 

Photo-Me International plc

("the Group")

 

Sale of Investment

 

Photo-Me (PHTM.L), the instant-service equipment group, announces that it has completed the sale of its 50% stake in Stilla Technologies SA, a Paris-based European Biotechnology company.

 

The holding, which was acquired by Photo-Me for a total of €1.5 million between April 2015 and October 2016, has been sold for a consideration of €5.0 million. In addition, current accounts and loans between the Group and Stilla have been fully reimbursed for a total of €2.049 million.

 

Consequently, the Group's profit on sale of the investment is €3.5 million and the total additional cash to the Group, including repayment of current accounts and loans, is €7.049 million.

 

Proceeds from the sale will be invested in the Group's core business to fund its ongoing growth strategy, which is primarily focused on accelerating the widescale rollout of its Laundry business.

 

 

 

Enquiries:

 

Photo-Me International

+44 (0) 1372 453 399

Stephane Gibon, Group Chief Financial Officer

[email protected]

Fiona Bird, Investor Relations and International Tax Manager

 



Hudson Sandler

+44 (0) 20 7796 4133

Wendy Baker/Emily Dillon

[email protected]

 

                                 

Notes to Editors

 

Photo-Me International plc (LSE: PHTM) operates, sells and services a wide range of instant-service vending equipment, primarily aimed at the consumer market.

 

The Group operates approximately 47,000 vending units across 18 countries and its technological innovation is focused on three principal areas:

 

·     Identification: photobooths and integrated biometric identification solutions

·     Laundry: unattended laundry services, launderettes, B2B services

·     Kiosks: high-quality digital printing

 

In addition, the Group operates vending equipment such as children's rides, amusement machines and business service equipment.

 

Whilst the Group both sells and services this equipment, the vast majority of units are operated and maintained by Photo-Me. Photo-Me pays the site owner a commission based on turnover, which varies depending on the country and location of the machine.

 

The Group has built long-term relationships with major site owners and its equipment is generally sited in prime locations in areas of high footfall such as supermarkets, shopping malls (indoors and outdoors) and public transport venues. The equipment is maintained and serviced by an established network of 700 field engineers.

 

The Company's shares have been listed on the London Stock Exchange since 1962.

 


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