Year End Report 2006
Increased turnover by 15 percent and increased operating result* by 68 percent
KEY DEVELOPMENTS DURING THE FOURTH QUARTER OF 2006
During the fourth quarter of 2006 ReadSoft made two important acquisitions. In October the SAP-specialist Ebydos was acquired and in December the remaining 50 percent of the Oracle-specialist ReadSoft Consit was acquired. The acquisitions are strategically important moves since they give ReadSoft the possibility to build integrated solutions within the SAP and Oracle business systems instead of building them outside. This gives the company a strong competitive advantage in the document automation market.
ReadSoft closed a number of deals with large multinational groups during the fourth quarter of 2006. One of these global agreements was signed with Volkswagen. The Volkswagen group has chosen ReadSoft as the preferred supplier of solutions for electronic invoice processing into their SAP business system. The agreement also stipulates commercial aspects for future international deals. ReadSoft has already installed the SAP certified solution at a number of Volkswagen units, automating the processing of more than one million supplier invoices annually.
Another deal was closed with CEMEX, a global building solutions company, that has chosen ReadSoft to supply its invoice processing solution. The initial agreement covers approximately one million invoices per year and ReadSoft has already installed the SAP certified solution at CEMEX's German, British and French businesses. Now they are reviewing their routines throughout the rest of the company.
* Operating income not affected by tax, currency divergence, capitalization of R&D expenditure and depreciations of intangible assets.
Read the entire Year End Report in the attached pdf
For additional information, contact
Jan Andersson, CEO
Phone: +46 708 - 37 66 00
Jonna Opitz, Vice President Corporate Communications
Phone: +46 733 - 37 86 68
Jan Bertilsson, CFO
Phone: +46 42 - 490 21 43
Find out more about the company at www.readsoft.com ReadSoft is a world-leading supplier of software for document automation. The company develops and markets a complete software platform for document automation under the name of ReadSoft DOCUMENTS. The vision is to release businesses around the world from handling documents manually. Since starting in 1991, ReadSoft has grown to a worldwide Group with eleven subsidiaries in Europe, North America, South America and Australia, as well as a large number of local and global partners. The head office is in Helsingborg, Sweden, which - along with Stockholm - also houses the Group's main research and development unit. The ReadSoft share is traded on the Nordic Stock Exchange Small Cap list.