Prodware Delivers Record 1st Half Year ResultsBy Prodware, PRNE
Monday, September 19, 2011
PARIS, September 20, 2011 -
- Operating margin: + 108 % to 8.9 M€
- Record Operating Margin: 18.9%
- Net Income: +146% to 10.6 M€
1er IFRS Norms Half-year 1er Half year Variation (in MEUR, non-audited) 2011 2010 Turnover 47.3 39.7 19% EBITDA 12.7 7 81% in % of the turnover 26.90% 17.60% Operating Margin 8.9 4.3 108% in % of the turnover 18.90% 10.80% Operating Profit 8.6 4.2 103% in % of the turnover 18.10% 10.60% Group share net income 10.6 4.3 146% in % of the turnover 22.30% 10.80%
Prodware, vendor, integrator and hoster of IT solutions for businesses, shows very strong earnings growth, with a doubling of its Operating Profit to € 8.9 M, in the first half-year of 2011 and a significant increase in Operating Margin to 18.9%. (versus 10.8% in the 1st half year of 2010).
This performance is a result of the strong growth (+19% consolidated, +7% on a comparable basis) and the evolution of the product mix, driven by the success of the industry and vertical business applications and solutions, as well as the sales growth of the hosting and SaaS offers.
Also contributing to this performance is the successful integration of the new subsidiary Prodware ID, acquired almost 1 year ago and the good results of the Sage products and services.
The margins attained are a consequence of the ISV industry solution strategy initiated in 2005 and accelerated as of 2008, a strategy that has benefitted from the evolution of the publically funded research support program. This confirms the Group’s ability to generate a significant and recurring profitability.
The Prodware teams have made the right product choices, both with respect to platforms and also markets and use the leverage of the internet and outsourcing to acceleratethe sales of our solutions.
A healthy financial position
On June 30th, net financial debts (excluding € 12.1 million of convertible bonds) stood at € 18.1 million (versus € 23.4 million on June 30th, 2010), the equity capital 62.0 M€ (44.3 M€ on June 30th, 2010).
Liquidity stood at approximately € 9.3 million, compared to €1.6 million on June 30th, 2010.
Within an innovative solution offer and an efficient distribution network able to reach different customer segments in France and internationally, Prodware expects a continued organic growth. This growth will be reinforced by the strategic alliance with Qurius, of whom Prodware has become the industrial shareholder of reference with 17.1% of the share capital, that will create a leader in IT solutions and services in the EMEA zone.
Founded in 1989, PRODWARE (www.prodware.fr) creates, integrates and hosts IT solutions for businesses. Prodware acts in a
sector where success requires a combination of strong IT expertise and industry know-how.
PRODWARE serves more than 17,500 active clients, and is a key actor and partner for the installation and management of
global IT solutions and applications. Present in 10 countries and internationally through strong strategic alliances
the Group supports companies in their international expansion.
As a corporate responsible company, Prodware assists its customers in their progress towards achieving sustainable
development with its GreenITude® offer of solutions and services. (www.greenitude.fr)
ALTERNEXT - ISIN FR0010313486 - ALPRO - FTSE 972 Services informatiques
Prodware is eligible FCPI - As a responsible company, Prodware is a member of the Global Compact
Head of Corporate Legal Affairs
T : +33-979-999-005
Marie-Anne Garigue / Grégory Bosson
T : +33-1-53-65-68-63 / +33-1-53-65-37-90
Tags: France, Paris, Prodware, September 20