May 30, 2017 – axélero: 2016 results as per IAS/IFRS announced all performance indicators up

PRESS RELEASE

axélero: 2016 RESULTS AS PER IAS/IFRS ANNOUNCED ALL PERFORMANCE INDICATORS UP Net revenues more than double on 2015 to Euro 46 million Investment in support of new products, services and human resources continues 2016 IAS/IFRS key consolidated results compared with 2015 adjusted as per IAS/IFRS:

• Net revenues of Euro 46 millionmore than double on Euro 19.4 million in 2015
• EBITDA of Euro 8.3 million (Euro 4.1 million in 2015)up due to volume growth and despite organizational enhancement
• EBIT of Euro 2.8 million compares to Euro 1.6 million in 2015
• Net Profit of Euro 1.3 millionincreases on Euro 1.1 million in 2015
• Net Financial Debt of Euro 19 million at December 31, 2016 compares to a net cash position of Euro 7.4 million at December 31, 2015, due to investments.

  Milan, May 30, 2017 - The Board of Directors of axélero S.p.A., an Internet Company listed on the AIM Italia (Ticker: AXEL) today reviewed and approved the 2016 Statutory and Consolidated Financial Statements prepared as per IAS/IFRS.

  Leonardo Cucchiarini, Chairman and Chief Executive Officer of axélero, stated:

  "2016 was another year of growth for axélero with revenues significantly accelerating to more than double on the previous year. The development of our commercial network and investments in new products to drive forward our five-­year strategy continued. The key focus in the coming years will continue to be innovation. Artificial intelligence is part of this strategy and our innovative solution Axél will see us at the forefront. In 2017 we will continue with our mission to digitalise SME's, while at the same time expanding internationally through the possible opening of new operational centers in strategic markets or through acquisitions."

  2016 Net consolidated revenues total Euro 46 million, more than doubling on Euro 19.4 million in 2015. This principally follows significantly higher sales thanks to the consolidation and streamlining of axélero's commercial network -­ which at December 31, 2016 counts 400 agents -­ and the launch of new products and services as a critical factor to support future growth.

  In particular, axélero:

  • reduced contract durations and payment plans from 48 to 24 months from the second part of 2016;;

  • extended its offer, investing in the development of new products and solutions such as: ristoranti.it, the disintermediation platform dedicated to the catering industry launched in November 2016;; mysuite, a highly innovative flagship product presented in March 2017 making omnichannel marketing accessible to SME's.

  • In addition, axélero set up two new business units directly focusing on large enterprises, financial institutions and the public sector: Executive, dedicated to projects, strategies and innovative products through a consultancy and tailor-­made approach;; Next, which develops artificial intelligence-­based technological solutions. In this regard, Axél, an integrated platform servicing the business world is in the launch phase, and received the SMAU 2016 "SMART CITIES" Innovation Award for the "Artificial intelligence in the Municipality of Solarino" project, making the Municipality's services available 24 hours a day.

EBITDA was Euro 8.3 million, improving on Euro 4.1 million in 2015, despite increased services (production and commercial) and personnel costs, thanks to theconsiderably bolstered organisation with thehiring of high profile middle managers and senior managers to lead axélero's development over the coming years. At December 31, 2016, the headcount was 157. EBIT totalled Euro 2.8 million, up on Euro 1.6 million in 2015. This result was impacted by increased amortisation and depreciation on development project investments and greater provisions.

The Net Profit was Euro 1.3 million compared to Euro 1.1 million in 2015, due to higher financial charges and taxes.

The net financial debt at December 31, 2016 was Euro 19 million, compared to a net cash position of Euro 7.4 million at December 31, 2015. The decrease reflectsinvestments in the year, in addition to the absorption ofworking capital from the significant increase in consolidated net revenues, with deferred payment by customers, resulting in higher trade receivables.. OUTLOOK

axélero's strategy in 2017 will essentially continue to focus on boosting its market presence and broadening the range of leading digital solutions, with the introduction of technological process innovations and the launch of new highly innovative product lines to penetrate the market even faster.

In addition to the SME segment, the company will focus also on international expansion through company plans targeting both the opening of new operational centers in strategic markets for the development of Group business and the acquisition of businesses synergetic to axélero's core business.

***

The 2016 Financial Statements of axélero S.p.A. report a Net Profit of Euro 1.2 million. The 2016 results reflect the merger by incorporation of the companies which axélero has controlled since December 2016, the month of the operation's legal effect, with tax effects from January 1, 2016.

The Board of Directors will propose to the Shareholders' Meeting to allocate the Net Profit to retained earnings as the 20% limit of the legal reserve has already been reached, in accordance with Article 2430 of the Civil Code.

For further information, reference should be made to the attachments. The figures in this press release have not been fully audited by the Independent Audit Firm. The 2016 Separate Financial Statements are available in accordance with law at the company's registered office.

SHAREHOLDERS' AGM CALL

Those with the right to attend and vote are called to the Shareholders' AGM of June 28, 2017 at 11 AM, in first call, in Milan at the company's offices in Via Melchiorre Gioia n. 8 (room 7) and, where required, in second call for June 29, 2017 at the same time and place to discuss and resolve on the following agenda:

1. ratify the Board of Directors' actions of January 30, 2017 concerning the proposal to adjust the remuneration of the independent audit firm BDO Italia S.p.a. due to the passage to international accounting standards;;

2. approve the 2016 statutory financial statements and the presentation of the 2016 Group consolidated financial statements;;

3. appointment of the Board of Directors as per Articles 2383 and 2389 of the Civil Code and Articles 26 and 37 of the By-­Laws;;

4. appointment of the Board of Statutory Auditors as per Articles 2398 and 2400 of the Civil Code and Article 39 of the By-­Laws;;

5. appointment of the independent audit firm as per Article 2409-­bis of the Civil Code and Article 40 of the By-­Laws;;

6. resolutions thereon.

The documentation relating to the matters on the Agenda of the Shareholders' AGM will be made available at the registered office as soon as possible and in accordance with the legally-­established deadlines as per Article 2429 of the Civil Code.

***

axélero S.p.A., founded in 2008 and listed on the AIM Italia market since December 2014, is the leading provider of digital marketing solutions for SME's. The company's mission is in fact to accelerate business for small and medium enterprises through digital solutions and services on a par with those used by big companies in order to unlock their true potential.Customers choosing axélero achieve visibility, useful contacts and concrete business results. The company is a market maker, a leading innovator and is embedded across the country. It operates through 4 business units:Smart & Business, offering digital solutions to SME's and Soho's with a network of over400 digital consultants across Italy;Executive, specialized in custom projects for large enterprises and the Public Sector;Next, focused on the development of artificial intelligence-­‐based products and winner of the Smau Innovation and Best Use of Artificial Intelligence in Customer Awards;Lab, a corporate venture capital vehicle which accelerates start-­‐ups developing high potential products and services for SME's.

Ticker: AXEL, Code ISIN: IT0005069809

http://www.axelero.it/

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