IBS Interim report January – June 2010
Stockholm, Sweden, August 30, 2010
Financial results were negatively impacted due to a significant decline in sales and insufficient cost control in the company. Improved cost control and a new cost reduction programme have been implemented. Non-core assets were divested and the company was engaged in strategic discussions with industry players.
JANUARY-JUNE 2010 (FIRST HALF YEAR)
• Total revenue down to SEK 664 m (831), with professional services revenue down to SEK 405 m (478) and hardware and other revenue down to SEK 136 m (170)
• Total license revenue declined to SEK 123 m (183)
• EBITDA* down to SEK -72 m (27) including costs relating to the strategic discussions amounting to SEK 22 m
• Net earnings amounted to SEK -121 m ( 84)
• Cash flow from operating activities for the first six months amounted to SEK -61 m (-55)
• New operational organization organized into business units, Enterprise, Bookmaster and Iptor
Summary of January - June 2010 | 2010 | 2009 | Var |
Jan-Jun | Jan-Jun | % | |
Total revenue, SEK m | 664 | 831 | -20% |
New license sales | 26 | 81 | |
Renewal revenue | 97 | 102 | |
Software licenses, SEK m | 123 | 183 | -33% |
License margin | 89% | 93% | -4 p.p. |
Professional services revenue, SEK m | 405 | 478 | -15% |
Professional services margin | 8% | 11% | -3 p.p. |
Hardware and other revenue, SEK m | 136 | 170 | -20% |
Hardware and other margin | 19% | 19% | 0 p.p. |
Operating profit, SEK m | -133 | -119 | |
Earnings after financial items, SEK m | -145 | -124 | |
Net earnings, SEK m | -121 | -84 | |
EBITDA * | -72 | 27 |
* Earnings before interest, taxes, depreciation, amortization, restructuring costs and earnings from discontinued operations.
For more information, please contact:
Christian Paulsson
Acting President and CEO
IBS AB
+46 (0) 8 627 23 00
Christian.Paulsson@ibs.net
Fredrik Sandelin
Executive Vice President and CFO
IBS AB
+46 (0) 8 627 23 00
Fredrik.Sandelin@ibs.net
IBS in brief
With over 30 years of experience, IBS is a leading provider of distribution management solutions. IBS focuses on industries such as automotive, electrical components, paper & packaging and pharmaceutical distribution. More than 4,000 customers across some 40 countries use IBS software to gain fast and measurable returns on IT investments.
IBS B share is listed on NASDAQ OMX First North Exchange Stockholm. For more information, please visit www.ibs.net