The Management Board of Summa Linguae S.A. based in Krakow (“Company”) hereby announces that on 25 January 2019, it became aware of the estimated amount of consolidated net revenue of the Company’s Group for Q4 2018. As at the date of publication of this Report, the estimated amount of consolidated revenue of the Company’s Group for Q4 2018 was approx. PLN 8.00 million, which represents an increase by 175% compared to the amount of the Company’s net consolidated revenue for Q4 2017.
In Q4 2017, the Company consolidated 25% of shares in Mayflower Language Services Pvt. Ltd. subsidiary in a proportionate manner, while in Q4 2018, it consolidated 100% of shares in this company on a line-by-line basis. In Q4 2018, consolidated revenue of the Kommunicera Communications Group for December 2018 was also recognized following the launch of consolidation of this entity’s profit/(loss), starting in December 2018, on a line-by-line basis (shares in Kommunicera Communications AB were acquired by the Issuer in November 2018).
The Company’s Management Board believes that such a significant increase in revenue results, besides consolidation effects, from efforts aimed at increasing sale and the development of new services resulting from organic growth.
As Q4 2018 is the last quarter of the 2018 financial year, the Issuer hereby announces that the estimated amount of consolidated net revenue of the Summa Linguae Group for 2018 was PLN 20.8 million.
Under a pro forma assumption of consolidation of the Kommunicera Communications Group on a line-by-line basis from 1 January 2018 to 31 December 2018, the estimated amount of consolidated revenue of the Summa Linguae Group would be PLN 37.4 million.
The aforementioned amounts are estimated ones, and the final amount of consolidated revenue of the Company’s Group that will be announced in the consolidated financial statements of the Company’s Group for Q4 2018 may differ from the amount indicated above.
Legal grounds: Article 17(1) of MAR – confidential information
The Company’s representatives,
Krzysztof Zdanowski, President of the Management Board