IBS Year-end Report January – December 2010
After a weak performance in the first half-year, IBS initiated a full business review in the beginning of the second half-year which resulted in substantial actions on cost reductions and revenue generating programmes resulting in significantly improved performance.
JULY-DECEMBER 2010 (SECOND HALF-YEAR)
- Total revenue down to SEK 635,7 m (780,7), with professional services revenue down to SEK 343,9 m (404,3) and hardware and other revenue down to SEK 163,1 m (201,6)
- Total license revenue declined to SEK 128,7 m (174,8), where new license sales (“ILF”) declined to SEK 40,2 m (72,8) and renewal license sales (“RLF”) decreased to SEK 88,5 m (102,1)
- EBITDA* amounted to SEK 9,6 m (-11,1). The EBITDA result for the fourth quarter amounted to SEK 18,0 m
- Net earnings amounted to SEK -71,9 m (-349,0)
- Cash flow from operating activities for the second half-year improved to SEK -34,5 m (-44,4)
JANUARY-DECEMBER 2010 (FULL YEAR)
- Total revenue down to SEK 1 299,6 m (1 611,5), with professional services revenue down to SEK 749,0 m (881,9) and hardware and other revenue down to SEK 299,2 m (371,9)
- Total license revenue declined to SEK 251,4 m (357,7)
- EBITDA* amounted to SEK -62,4 m (16,2) including one-off costs relating to the strategic discussions amounting to SEK 22,7 m
- Net earnings amounted to SEK -192,4 m (-433,4)
- Cash flow from operating activities for the year improved to SEK -95,5 m (-99,3)
- New operational structure organized into three business units, Enterprise, Bookmaster and Iptor
| Summary of January - December 2010 |
Q3 2010 Jul - Sep |
Q4 2010 Oct - Dec |
H2 2010 Jul - Dec |
H2 2009 Jul - Dec |
FY 2010Jan - Dec |
FY 2009 Jan - Dec |
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Total revenue, SEK m |
260 |
376 |
636 |
781 |
1 300 |
1 612 |
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|
New sales (ILF) |
12 |
28 |
40 |
73 |
66 |
154 |
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|
Renewal revenue (RLF) |
45 |
44 |
89 |
102 |
185 |
204 |
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Software licenses, SEK m |
57 |
72 |
129 |
175 |
251 |
358 |
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| Professional services revenue, SEK m | 165 | 179 | 344 | 404 | 749 | 882 | |||||
| Hardware and other revenue, SEK m | 38 | 125 | 163 | 202 | 299 | 372 | |||||
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Operating profit, SEK m |
-54 |
-9 |
-63 |
-189 |
-196 |
-308 |
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| Earnings after financial items, SEK m | -55 | -14 | -69 | -192 | -214 | -315 | |||||
| Net earnings, SEK m | -53 | -19 | -72 | -349 | -192 | -433 | |||||
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EBITDA * |
-8 |
18 |
10 |
-11 |
-62 |
16 |
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| * Earnings before interest, taxes, depreciation, amortization, restructuring costs and results from sale of subsidiaries | |||||||||||
Questions regarding this report will be answered by:
CEO Johan Berg, Tel: +46 (0)8 627 23 00, e-mail: johan.berg@ibs.net
Executive Vice President, Corporate Development and M&A, Christian Paulsson, Tel: +46 (0)8 627 23 00, e-mail: christian.paulsson@ibs.net
Executive Vice President and CFO, Fredrik Sandelin, Tel: +46 (0)8 627 23 00, e-mail: 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 Stockholm. For more information, please visit www.ibs.net
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