IBS Interim report January – June 2010

Press Release
2010-08-30

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


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