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24Seven Technology Group ASA : Quarterly report 2Q 2012

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Record revenue and positive EBITDA
- Company at the inflection point
 
Revenue in 2Q12 ended at MNOK 16.7, up from MNOK 13.7 in 2Q11. This represents a growth of 21%. Positive EBITDA goal in 2Q12 was achieved and EBITDA ended at MNOK 0.4 for the quarter. The company expects positive EBITDA going forward with the current strategy. Total number of customers at the end of 2Q12 was 6,183, up 15% compared to 2Q11.
 
In 1H12, operating revenue ended at MNOK 32.9, compared to MNOK 29.2 in 1H11.

Key financials 2Q 2012
  • Operating revenue of MNOK 16.7 up from MNOK 13.7 in 2Q11
  • EBITDA ended at MNOK 0.4 compared to MNOK -3.3 in 2Q11
Key financials 1H 2012
  • Operating revenue of MNOK 32.9 up from MNOK 29.2 in 2Q11
  • EBITDA ended at MNOK -2.3 compared to MNOK -5.6 in 2Q11
 
Highlights 2Q 2012
  • Record number of 6,183 customers at the end of the quarter, up from 5,389 in 2Q11. 24SevenOffice is now the ERP system with the second highest number of customers in Norway
 
Technical innovations 2Q 2012
  • The company's focus on development of cross browser is progressing as planned and is on track. New modules will continuously be released in full production during 2H12. This development is important and open new revenue streams and access to large international markets.
  • 24SevenOffice has soft launched new cross browser invoicing module which is an important part of the company's cross browser project and revenue generation through accounting partners.
  • Electronic invoicing was launched 30 June as planned. With more than 100,000 invoices sent from 24SevenOffice monthly this represents a substantial potential revenue stream also from the existing customer base.
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

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