Prodware: 2010 Results Excellent PerformanceBy Prodware, PRNE
Monday, March 14, 2011
PARIS, March 15, 2011 -
- EBITDA: +630 Basis Points to 19.1% - Operating Income: X 3 to EUR9.8 Million - Net Income: +55% to EUR8.2 Million
IFRS Norms 2010 2009 (EUR million) Turnover 83.5 84.3 EBITDA(1) 16.0 10.8 as a % of the turnover 19.1 % 12.8 % Current Operating Income 10.1 5.6 as a % of the turnover 12.1 % 6.7 % Operating Income 9.8 3.3 as a % of turnover 11.7 % 3.9 % Net Income 8.2 5.3 as a % of turnover 9.8 % 6.3 %
Prodware, a leading IT solution and services provider for businesses,
publishes excellent 2010 results.
Strong organic growth
In 2010, Prodware Group achieved a turnover of EUR83.5 million up 7.5%,
on a comparable basis, in a market of limited growth. This performance is due
- the success of its industry and sector software solutions with large
French and international accounts, as well as mid-market companies.
- the growth in sales of its SaaS solutions.
Significant increase in margins
The sharp increase of the operating ratios confirms the evolution of
Prodware's business model towards software development.
After a second half year even better than the first, the Group EBITDA
increased 48%, on an annual basis, to EUR16.0 million, 19.1% of turnover as
December 2010. Its operating income was up 80% to EUR10.1 million,
representing a margin of 11.8%.
As a result of the structural optimization program carried out in 2009,
the operating income of Prodware was multiplied by 3 to EUR9.8 million.
Net income rose 55% to EUR8.2 million.
To accelerate the evolution of its product mix towards software
development, the Group has in 2010 continued its research and development
Further improvement in gearing(2)
In the second half year, the Group has continued to work on the
improvement of its gearing ratio that stood at 49% at the end of December
2010 versus 53% at the end of June 2010 and 73% at the end of December 2009.
As part of the program initiated in 2009 for generating shareholder
loyalty it will be proposed, at the upcoming General Assembly on June 30th,
that the company pays a dividend of 6 cents per share, up 50%.
Outlook: 2011, a new phase of the development strategy 2010-2015
Prodware will capitalize on the clear competitive advantages provided by
its range of industry and sector software solutions to grow internationally
in countries with strong potential while accelerating its indirect sales
through the Microsoft global partner network.
Friday, March 18th at 11:30 on the premises of the SFAF (24, rue de
Penthievre, 75008 Paris) Philippe Bouaziz, President, and Stephane Conrard,
Chief Financial Officer, will present the 2010 results and the 2011 outlook.
Founded in 1989, PRODWARE (www.prodware.fr) creates, integrates
and hosts IT solutions for businesses. This activity is exercised in a sector
where success necessitates a blend of strong IT expertise and industry
specific know-how, specifically in administrative and management processes.
PRODWARE already helps more than 17 500 active clients and is the key
actor and partner for the installation and management of global IT solutions
and applications. Present in 10 countries and through strong strategic
alliances the Group supports companies in their international expansion.
A good corporate citizen Prodware joined the United Nations Global
Compact in 2009.
Prodware is listed on the NYSE - Euronext exchange
ALTERNEXT - ISIN FR0010313486 - ALPRO - FTSE 972 Services informatiques
Eligible FCPI -
(1) EBITDA = Earnings Before Interest, Taxes, Depreciation and
(2) Gearing = (short and long term financial liabilities - cash and cash
equivalents) / shareholder equity
CONTACTS : PRODWARE Sandra Chokron Head of Corporate Legal Affairs T : +33(0)9-79-99-90-05 firstname.lastname@example.org PRESS Marie-Anne Garigue / Gregory Bosson CALYPTUS T : +33(0)1-53-65-68-63 / +33(0)1-53-65-37-90 email@example.com
CONTACTS : PRODWARE, Sandra Chokron, Head of Corporate Legal Affairs, T : +33(0)9-79-99-90-05, investisseurs at prodware.fr; PRESS, Marie-Anne Garigue / Gregory Bosson, CALYPTUS, T : +33(0)1-53-65-68-63 / +33(0)1-53-65-37-90, prodware at calyptus.net
Tags: France, March 15, Paris, Prodware