Sandpiper Digital Payments AG

EQS-Adhoc: SANDPIPER Digital Payments AG announces final annual figures for 2014

EQS Group-Ad-hoc: Sandpiper Digital Payments AG / Key word(s): Final
Results
SANDPIPER Digital Payments AG announces final annual figures for 2014

24.06.2015 / 22:30
Release of an ad hoc announcement pursuant to Art. 18 KR.
The issuer is solely responsible for the content of this announcement.

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- Net Loss (Swiss GAAP FER) at EUR -3.6m (previous year: EUR -0.4m)
- NAV per share according to Swiss Code of Obligation at EUR 0.23 at
31.12.2014 (previous year: EUR 0.26)

St. Gallen, June 24, 2015 - SANDPIPER Digital Payments AG (BX Berne
eXchange, ticker: SDP, www.sandpiper.ch, Open Market, Frankfurt, ISIN:
CH0033050961), announces the consolidated financial statements according to
Swiss GAAP FER and the Swiss Code of Obligation for the financial year of
2014.

In 2014, SANDPIPER Digital Payments AG has converted from an investment
company to a holding company, which not only appears in the change of the
name. The structure of the balance sheet has changed substantially because
of the new business operations. The focus used to be on minority
shareholdings and low interference in the operative business of the
ventures. In a holding company, the majority shareholding in companies,
that are contextually associated, are consolidated and the subsidiaries'
assets are accounted. Balance positions like inventories or intangible
assets have become relevant assets.

In the consolidating procedure, the book value of the subsidiaries is
settled with the net assets. These positions are not identical. The
difference is disclosed as the goodwill. According to the newly applied
accounting standard Swiss GAAP FER, the goodwill can be settled directly
with the equity. Future depreciation of the goodwill is not relevant for
the income statement, which is a huge advantage of this procedure. On the
other side, equity has reduced dramatically. In 2014 about EUR 35.8m equity
has been settled within this procedure. The subsidiaries' consolidated net
asset is at EUR -3.2m. Without the settlement of the goodwill, their net
asset would be at EUR 32.6m.

According to Swiss GAAP FER, SANDPIPER Digital Payments AG ends 2014 with a
net loss at EUR -3.6m (previous year: EUR -0.4m). The company generated
revenue in height of EUR 2.9m. (previous year: EUR 2.4m). Opposite stand
operating expenses in height of EUR 7.2m (previous year: EUR 3.4m). They
are divided into direct portfolio expenses (EUR 1.2m), material expenses
(EUR 1.0m), personnel expenses (EUR 2.9m), depreciation and amortization of
intangible assets (EUR 0.2m) and other operating expenses (EUR 1.9m).

Total current assets are at EUR 8,7m (previous year: EUR 0.4m). Cash and
cash equivalents are the highest position valued at EUR 4.6m (previous
year: EUR 0.03m). Total non-current assets decreased from EUR 28.6m to EUR
4.6m in 2014. Financial assets reduced in height of EUR 27.2m from EUR
28.6m in 2013 to EUR 1.4m in 2014. Short-term receivables were at EUR 0.9m
(previous year: EUR 0.4m). Until December 31, 2014, equity reduced to EUR
-3.2m (previous year: EUR 26.8m). This is a reduction of EUR 30m. This is
mainly driven through the loss as well as the elimination of the goodwill.

The NAV per share is at EUR -0.02 (shareholders' equity divided through
number of shares at the end of year). The holding's balance sheet total is
at EUR 13.3m (previous year: EUR 29.0m).

In the individual statutory financial statements in accordance to Swiss
Code of Obligation, Sandpiper expels a net loss of EUR -2.5m in 2014
(previous year: net income of EUR 11.5m). Equity is at EUR 34.2m (previous
year: EUR 26.8m) and is shaped by the annual result and the ordinary
capital increase from November 2014. The NAV per share (number of shares:
151m) according to Swiss Code of Obligation is at EUR 0.23.

The stock price at Frankfurt Stock Exchange developed from EUR 0.08 to EUR
0.20 per share despite a weak liquidity situation.

The annual report according to Swiss GAAP FER can be downloaded on the
website. The Annual General Meeting takes place at July 27, 2015 in St.
Gallen.

About SANDPIPER Digital Payments AG

SANDPIPER Digital Payments AG, www.sandpiper.ch, is a stock-listed
technology holding based in St. Gallen, Switzerland. The company is focused
on the consolidation of the fragmented payment landscape in Europe by
pursuing a "buy & build" strategy in the area of digital cashless payments
and access control. SANDPIPER was established as a special purpose
acquisition company in early 2014. The shares are listed on Berne Stock
Exchange.

SANDPIPER is already today one of the largest providers of closed-loop
payment systems in Europe. SANDPIPER solutions provide safe and intuitive
payment technologies based on RFID/NFC and mobile applications for markets
such as Retail, Education, Stadium, and Events.

Contact: Volker Rofalski; Tel: +41-44-783 80 30; Fax: +41-44-783 80 40;
website: www.sandpiper.ch

End of ad hoc announcement

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Additional features:

Document: http://n.equitystory.com/c/fncls.ssp?u=TRAEYQAQDO
Document title: SANDPIPER_figures-2014

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24.06.2015 News transmitted by EQS Schweiz AG. www.eqs.com - news
archive: http://switzerland.eqs.com/de/News

The issuer is responsible for the contents of the release.

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Language:    English
Company:     Sandpiper Digital Payments AG
             Poststrasse 17
             9001 St. Gallen
             Switzerland
Phone:       +41 44 783 80 49
Fax:         +41 44 783 80 40
E-mail:   news@sandpiper.ch
Internet: www.sandpiper.ch
ISIN:        CH0033050961
Valor:       A0MYNQ
Listed:      Foreign Exchange(s) BX


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