Basware Corporation Stock Exchange Release, March 19, 2012 at 10:50
Basware Corporation's external reporting in 2012
As of the first quarter in 2012 Basware Corporation reports one operating
segment: Purchase to Pay, P2P. Previously Basware reported geographical
operating segments Finland, Scandinavia, Europe and Other. The change in
reporting follows the organization change effective as of January 1, 2012:
Basware Corporation changed regional organization structure to functional
organization, common to all Purchase to Pay products and services.
Purchase to Pay operating segment's figures correspond to the reported
consolidated figures of Basware Corporation. Basware Corporation's financial
results for 2011 have been reported in a stock exchange release on January
Basware Corporation's business comprises one operating segment being Purchase to
Pay, P2P. Purchase to Pay business is further divided into two mutually
supportive market segments, products and services. In both market segments
customers are offered the same basic functionalities as per customers'
functionality and performance requirements. The products and services are
offered to all potential customers. Basware Purchase to Pay products and
services suit all industries and companies of different sizes.
As earlier, Basware reports income for products and services as follows: License
sales, Professional Services, Maintenance and Automation Services.
License sales consists of Purchase to Pay product family together with payment,
financial planning and reporting solutions sold only in Finland. Automation
Services include e-Invoicing, scanning services, printing services, catalogue
management, purchase message exchange, activation services and SaaS services.
As earlier, Basware reports the estimated revenue to be recognized for current
Automation Services agreements in production in the next twelve months.
Automation Services agreements typically expand several years or are valid until
As geographic information Basware reports geographical areas Finland,
Scandinavia, rest of the Europe and Other. In the geographical information net
sales is split by customer's location. Net sales and operating profit are also
reported by the location of the assets. In annual financial statements the
geographical information of non-current assets is reported by the location of
For more information, please contact:
Mika Harjuaho, CFO
Tel. +358 50 337 8599
NASDAQ OMX Helsinki Ltd