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Year-End Report 2011

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Record strong result and cash-flow

  • Sales for January-December increased with 7 percent to SEK 663.0 (618.2) million
  • Operating profit EBITDA for the period was SEK 74.5 (56.5) million
  • Earnings per share after tax for the period were SEK 1.97 (1.24)
  • Sales for the fourth quarter amounted to SEK 199.8 (179.5) million
  • Operating profit EBITDA for the fourth quarter was SEK 41.3 (37.6) million
  • Earnings per share after tax for the fourth quarter were SEK 1.08 (1.00)
  • Cash-flow from operating activities for 2011 was SEK 126.4 (73.1) million
  • The Board of Directors will propose to the Annual General Meeting a dividend of SEK 0.50 per share for 2011
  • ReadSoft has, after the end of the period, signed an agreement to acquire foxray AG


CEO comment:

”This is my first interim report as newly appointed President and CEO of ReadSoft and it’s with great pleasure that I present a strong report for the fourth quarter and for the full year 2011. ReadSoft’s positive growth and strong result improvements continue despite a turbulent world. Behind this positive trend are hard and focused work, world-leading products and solutions and a well functioning organization.

Our total sales grew by 13 percent in constant currencies compared to the last year, for both the fourth quarter and the full year. Our license sales remain strong and grew by 17 percent in constant currencies for the fourth quarter and by 19 percent for the full year. The EBITDA result also continues to increase and is 10 percent better for the quarter and 32 percent better for the full year compared to last year. The EBITDA margin is over 11 percent and ReadSoft continues to take steps in the right direction towards our long-term goals. The cash flow from operating activities reached a new record result and was SEK 126.4 million, an improvement of 73 percent compared to the previous year.

ReadSoft has a strong financial position and in 2011 we have increased our workforce by 41 employees to meet the needs of a growing organization and to maintain and increase growth going forward. 

We have, despite the macro-economic situation in Europe and in the US, performed well on most of our markets around the world and the majority of our subsidiaries report positive results. One of many successes this year was closing one of the largest deals ever, worth SEK 9.4 million, with a leading high technology company in Europe. When it comes to products, we launched generation 7 of our products and solutions and we are well prepared for meeting our customers’ demands and expectations for 2012. 

ReadSoft will continue to focus on improving results and growth. We will take advantage of the good momentum we have on the market right now and we will continue to invest in our world-leading products and solutions, but also in our growth areas such as our cloud-based solution ReadSoft Online and our workflow product for Oracle E-Business Suite. ReadSoft is well prepared for continued growth and we look forward to the rest of 2012 with great optimism.”

Per Åkerberg
President and CEO


Read the entire report in the attached PDF. 


Invitation to telephone conference / audiocast for the presentation of ReadSoft's Year-End Report 2011

On Thursday, February 16, 2012, at 9:00 CET, are analysts, investors, media and other interested parties invited to attend a telephone conference where ReadSoft’s President and CEO Per Åkerberg will comment on the published Year-End Report and answer questions. The presentation will be held in English. 

Link to webcast:         click here 
Day and time:             Thursday, February 16, 2012 at 09.00 CET
Phone number:           +46 (0)8 505 598 12 or +44 (0) 207 108 6303


You can also access the presentation via our website www.readsoft.se or www.readsoft.com.


This is information of the type that ReadSoft AB (publ) is obligated to disclose in accordance with the Swedish Securities Markets Act and/or the Financial Instruments Trading Act. The information was submitted for publication on February 16, 2012 at 08:00 CET.

For additional information please contact:

Per Åkerberg, President and CEO
Phone+46 42 490 21 00 or +46 708-37 86 96
Johan Holmqvist, Vice President Corporate Communications
Phone: +46 42-490 21 98 or +46 708-37 66 77
Jan Bertilsson, CFO
Phone: +46 42-490 21 43 or +46 708-37 66 16
e-mail: firstname.lastname@readsoft.com

About ReadSoft
ReadSoft is a leading global provider of software solutions for Document Process Automation. ReadSoft’s software enables companies to automate document processes such as accounts payable processing, document capture, document sorting, and order to cash. ReadSoft is by far the world’s number one choice for automated invoice processing, especially into business systems from SAP and Oracle. Since the start in 1991, ReadSoft has grown to a worldwide group with operations in 16 countries on five continents and a network of local and global partners. The head office is located in Helsingborg, Sweden, and the ReadSoft share is traded on the NASDAQ OMX Stockholm's Small Cap list. For more information about ReadSoft, please visit www.readsoft.com.

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Year-End Report Per Åkerberg ReadSoft Johan Holmqvist Jan Bertilsson

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