Due to the high level of uncertainties about latest trading conditions and consequences, UNIT4 decided to announce preliminary results over the last quarter of 2011.
CFO Edwin van Leeuwen: “Despite negative developments in general economic conditions across Europe, performance in most of our territories remained at a healthy level. Nevertheless, the economic climate has led our clients to be more cautious and although we have seen some slippage as a result, deal flow at the end of the year was quite good and December turned out to be a record month.
The trend towards SaaS and subscription billing has resulted in an increase of recurring revenues. This gives greater long term stability in revenues and profitability of the company and greatly enhances the underlying fundamentals of the operational results. However, as revenues are spread over a longer time, this also results in short term pressure on profits, in particular for sales made during the last months of the year.”
The revenues in Q4 2011 amounted to approximately € 127.0 million, an increase of about 3% compared to the reported revenues in the last quarter of 2010 (Q4 2010: €123.4 million). The strongest performance was seen in the US, Asia, Sweden, Benelux and Norway. The performance in Spain was below expectations and further measures to enhance profitability have been taken.
FinancialForce.com, the cloud applications company in which UNIT4 is a majority shareholder, again developed very strongly and realized a growth in monthly revenue run rate (December 2010 versus December 2011) of about 350%.
SaaS/Subscription revenues continued to increase strongly with growth rates over 35%. Despite the tendency towards subscription billing replacing traditional license sales, UNIT4 still realized modest organic growth in license revenues .
The EBITDA in the last quarter of 2011 – including more investments in FinancialForce.com, reorganization costs and the effects of the shift towards subscriptions – amounted to approximately € 28.0 million (Q4 2010: € 30.6 million), representing an EBITDA margin of almost 22%.
The revenues for the year 2011 will be around € 455.0 million (2010: € 421.8 million). The EBITDA over 2011 – including FinancialForce.com and reorganization costs – will amount to approximately € 85-87 million (2010: € 86.1 million).
Publication of the final annual results over 2011 will take place on 21 February, 2012 (after market close).
For further information, please contact:
UNIT4 N.V.
Chris Ouwinga CEO or Edwin van Leeuwen CFO
Phone : +31 (0)184 444444
Fax : +31 (0)184 444463
E-mail:
edwin.van.leeuwen@unit4.com
About UNIT4 – www.unit4.com
UNIT4 is a global business software and services company aimed at helping dynamic public sector, and commercial services organizations to embrace change simply, quickly and cost effectively in a market sector it calls 'Businesses Living IN Change' (BLINC)™. The Group incorporates a number of the world’s leading change embracing software brands including Agresso Business World, our flagship ERP suite for mid-sized services intensive organizations and Coda, our best-of-class financial management software.
With operations in 17 European countries, as well as 7 countries across North America, Asia Pacific and Africa and sales activities in several other countries, its revenue was $ 421.7 million in 2010. UNIT4 is headquartered in Sliedrecht, the Netherlands and has over 6,000 customers and 4,000 employees. It is listed on Euronext Amsterdam and is included in the Amsterdam Midcap Index (AMX). For more information on UNIT4 or any of its operating companies, please visit the website at
www.unit4.com, follow us on Twitter @UNIT4_Group or join us on Facebook at
www.facebook.com/UNIT4BusinessSoftwareNV.