Emakina Group: Outlook 2020 in light of the COVID-19 pandemic

Emakina Group: Outlook 2020 in light of the COVID-19 pandemic

Inside and regulated information - Free translation of the official French version - Embargo: 5 June 18.00h CET

Emakina Group (Euronext Growth Brussels: ALEMK) releases its 2020 outlook today, taking into account the context of the COVID-19 health crisis.

As announced at the end of March 2020, at the onset of the COVID-19 pandemic, the impact of containment measures and the pace of deconfinement will have a significant impact on Emakina's economic performance in 2020.

In order to preserve its margins and cash flow, the group's management quickly initiated temporary measures to reduce costs and set up additional credit lines. In addition, high-performance video-conferencing and online collaboration tools have enabled the organization to ensure continuity and quality of teleworking services to its clients.

To date, estimating the financial impact remains a complex exercise that depends heavily on the health aspects of the crisis and the uncertain economic situation.

Nevertheless, taking into account the good first quarter 2020, the growth of activities in the Middle East region, the volumes of work on ongoing projects and commercial indicators, management anticipates a limited single-digit impact on its consolidated annual revenues in 2020 compared to 2019. This outlook will be updated in September during our regular communication on the 2020 half-year results.

However, this development does not jeopardize the group's financial health, in view of the measures taken and the availability of appropriate credit lines. The impact of the crisis on the level of working capital requirements and cash flow is a priority focus of attention.

In addition, management wishes to recall that protecting the health of its 1,000 employees is its number one priority, through the implementation of precautionary measures in all its offices, but also by maintaining the strongly recommended teleworking policy in all our branches.

As a partner in digital transformation, Emakina Group pays the utmost attention to the challenges facing its clients. Their technological change must be accelerated, particularly through the implementation of e-commerce platforms to ensure their continued sales.


Karim Chouikri                         
Chief Executive Officer                    
+32(0)2 400 40 75
[email protected]

Frédéric Desonnay                 
Chief Financial Officer
+32(0)2 788 79 26
[email protected]

Luc Malcorps                            
Director of Media Relations
+32(0)2 788 79 73 
[email protected]

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Emakina Group S.A.
Rue Middelbourg 64A
1170 Brussels
VAT 0464.812.221
ISIN BE 0003843605

About Emakina Group SA

Emakina Group, an EPAM Systems, Inc. company (NYSE: EPAM), is one of the leading digital groups of independent digital agencies, with 26 offices in 18 countries in Europe, the Middle East, Africa and North America.

Learn more at www.emakina.group and follow us on Twitter @EmakinaGroup.

About EPAM Systems

Since 1993, EPAM Systems, Inc. (NYSE: EPAM) has leveraged its advanced software engineering heritage to become the foremost global digital transformation services provider – leading the industry in digital and physical product development and digital platform engineering services. Through its innovative strategy; integrated advisory, consulting and design capabilities; and unique ‘Engineering DNA,’ EPAM’s globally deployed hybrid teams help make the future real for clients and communities around the world by powering better enterprise, education and health platforms that connect people, optimize experiences, and improve people’s lives.

Selected by Newsweek as a 2021 Most Loved Workplace, EPAM’s global multi-disciplinary teams serve customers in more than 40 countries across five continents. As a recognized leader, EPAM is listed among the top 15 companies in Information Technology Services on the Fortune 1000 and ranked as the top IT services company on Fortune’s 100 Fastest-Growing Companies list for the last three consecutive years. EPAM is also listed among Ad Age’s top 25 World’s Largest Agency Companies and in 2020, Consulting Magazine named EPAM Continuum a top 20 Fastest-Growing Firm.

Learn more at www.epam.com and follow us on Twitter and LinkedIn.

Emakina Group SA
Rue Middelbourg 64A
1170 Watermaal-Bosvoorde
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VAT 0464.812.221