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Current operating income in 2013 amounted to €10.2 million for a revenue of €81.4 million, a decrease of 17 per cent compared to 2012. It includes the activity of Videofutur since early April 2013, when Videofutur was taken over by Netgem.
Gross margin reached €33.6 million in 2013, up 11 per cent compared to 2012.
Operating expenses amounted to € 23.4 million in 2013, against €17.9 million in 2012 (+31 per cent). This increase resulted primarily from the first consolidation of Videofutur and incorporates a 26 per cent increase of efforts in Research and Development (€5.4 million in 2013, net of Crédit Impôt Recherche).
The Group’s net cash position amounted to €54.8 million, down €0.4 million over the year, after taking into account cash flows related to investing activities (acquisition of Videofutur and acquisition of tangible and intangible fixed assets) and related to financing activities (dividend payment and share buy back program during the year).
The Group maintains its objective of doubling international revenue over the period 2012-2014.