Stockholm, Sweden, August 30, 2010
Financial results were negatively impacted due to a significant decline in sales and insufficient cost control in the company. Improved cost control and a new cost reduction programme have been implemented. Non-core assets were divested and the company was engaged in strategic discussions with industry players.
JANUARY-JUNE 2010 (FIRST HALF YEAR)
- Total revenue down to SEK 664 m (831), with professional services revenue down to SEK 405 m (478) and hardware and other revenue down to SEK 136 m (170)
- Total license revenue declined to SEK 123 m (183)
- EBITDA* down to SEK -72 m (27) including costs relating to the strategic discussions amounting to SEK 22 m
- Net earnings amounted to SEK -121 m ( 84)
- Cash flow from operating activities for the first six months amounted to SEK -61 m (-55)
- New operational organization organized into business units, Enterprise, Bookmaster and Iptor
Summary of January - June 2010 |
2010
Jan-Jun |
2009
Jan-Jun |
Var
% |
|
Total revenue, SEK m |
664 |
831 |
-20% |
| |
|
|
|
|
New licence sales |
26 |
81 |
|
|
Renewal revenue |
97 |
102 |
|
|
Software licenses, SEK m |
123 |
183 |
-33% |
|
License margin |
89% |
93% |
-4 p.p. |
| |
|
|
|
|
Professional services revenue, SEK m |
405 |
478 |
-15% |
|
Professional services margin |
8% |
11% |
-3 p.p. |
| |
|
|
|
|
Hardware and other revenue, SEK m |
136 |
170 |
-20% |
|
Hardware and other margin |
19% |
19% |
0 p.p. |
| |
|
|
|
|
Operating profit, SEK m |
-133 |
-119 |
|
|
Earnings after financial items, SEK m |
-145 |
-124 |
|
|
Net earnings, SEK m |
-121 |
-84 |
|
| |
|
|
|
|
EBITDA* |
-72 |
27 |
|
* Earnings before interest, taxes, depreciation, amortization, restructuring costs and earnings from discontinued operations.
For more information, please contact:
Christian Paulsson
Acting President and CEO
IBS AB
+46 (0) 8 627 23 00
Christian.Paulsson@ibs.net
Fredrik Sandelin
Executive Vice President and CFO
IBS AB
+46 (0) 8 627 23 00
Fredrik.Sandelin@ibs.net
IBS in brief
With over 30 years of experience, IBS is a leading provider of distribution management solutions. IBS focuses on industries such as automotive, electrical components, paper & packaging and pharmaceutical distribution. More than 4,000 customers across some 40 countries use IBS software to gain fast and measurable returns on IT investments.
IBS B share is listed on NASDAQ OMX First North Exchange Stockholm. For more information, please visit www.ibs.net