SOURCE: Service Point Solutions, S.A.

April 28, 2008 05:06 ET

Service Point Solutions, S.A. : SPS 1Q08 revenues increase by 11%

BARCELONA, SPAIN--(Marketwire - April 28, 2008) -


- Revenues increase by EUR 5.4mn (+11%) to EUR 56mn.

- Net profit amounted to at EUR 1mn, on budget.

- The company has invested EUR 6.5mn in recent months to boost profitability; the effect of these initiatives will be evident as the year progresses.

Barcelona, 25 April 2008 - Service Point's first quarter results reflect increased investment in recent months to add new centres and boost capacity.

Revenues increased 11% year-on-year, by EUR 5.4mn, to EUR 56mn.

First quarter EBITDA amounted to EUR 5.8mn, while EBIT was EUR 2.2mn, following EUR 6.5mn of investment in Spain, Germany and the UK on new equipment and centres. These investments, designed to drive organic growth, are relatively recent and will contribute to higher profitability as the year progresses.

Net profit came amounted to EUR 1mn, in line with the company's target for the first quarter.

1Q08 highlights:

When analysing these results, two factors need to be taken into consideration: (i) a one-off project in 1Q07 at Frankfurt airport, generating EUR 3.7mn in revenue and EUR 1.7mn in net profit, and (ii) the strength of the euro in recent months. Stripping out these two effects, the first quarter year-on-year comparison would be as follows:

On this like-for-like basis, revenue growth rises to 20.2%, EBITDA growth to 6.8% and net profit more than triples (+300%) that of 1Q07.

Service Point Solutions (www.servicepoint.net) provides digital reprographics and document management services to the manufacturing, public and service sectors. It employs 2,545 people across 7 countries (the UK, US, Spain, Germany and Holland) via a network of 119 service points worldwide and 714 facilities management and OSS (onsite services) programs. SPS is headquartered in Spain and listed on the Spanish stock exchanges.

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|For further information: |  |                    |
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|Service Point Solutions  |  |                Deva|
|S.A.                     |  |                    |
+-------------------------+--+--------------------+
|Cori Pellicer            |  |Elena Leal / Ana    |
|                         |  |Luzuriaga           |
+-------------------------+--+--------------------+
|coripellicer@servicepoint|  |eleal@deva.es /     |
|.net                     |  |aluzuriaga@deva.es  |
+-------------------------+--+--------------------+
|Tel +34 93 5082400       |  |Tel +34 91 3601669 /|
|                         |  |+34 91 360 1665     |
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|Fax +34 93 5082442       |  | Fax +34 91 360 1670|
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