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In the second quarter of fiscal 2007, update software AG (FWB:UP2) –
a leading European vendor of Customer Relationship Management (CRM)
solutions – has posted record revenues. For
the first time, update, headquartered in Vienna, Austria, and quoted on
the Frankfurt Stock Exchange, generated total sales in excess of €8
million, an increase of more than 43 percent compared to the previous
quarter. Moreover, the company doubled earnings before interest and
taxes (EBIT). Revenues for the second quarter of 2007 amounted to €8.123
million, up 43.3 percent over the same period of fiscal 2006 (€5.670
million). And, significantly for a software vendor, licensing sales rose
by 53.8 percent. EBIT climbed to €1.028
million, up 99.6 percent over the second quarter of 2006. Earnings
before tax (EBT) were €1.066 million, a
year-on-year jump of 90 percent (€0.561
million).
On course for the €100 million mark
update CEO, Thomas Deutschmann, is understandably upbeat: “The
figures speak for themselves. The recent acquisition of Orgaplan, the
German CRM specialist for banks, with a particular focus on the
publicly-owned Sparkassen, has already had an extremely positive
impact. Especially in financial services, update has experienced
above-average growth, and considerably increased market share, putting
us firmly on track to become the European leader. Our strategy of
targeting specific industries, and our commitment to
profitable growth, are proving highly successful. What’s
more, the development of company results underlines the realism of our €50
million revenue target for fiscal 2009 – to
which a further significant acquisition would also contribute. Against
this background of growth and profitability, I can easily imagine update
joining the ranks of companies that generate annual revenues of €100
million within the next decade.”
A string of new customers
update gained a number of new customers in the second quarter of fiscal
2007 – such as the K&H Bank Rt in Hungary, a
member of the Belgian KBC group, and two leading financial services
organisations in Switzerland. The vendor’s
clientele also includes Schunk GmbH & Co. KG, a German manufacturer of
automation components and tool-/work-holding solutions, and Doka
Schalungstechnik GmbH, an Austrian supplier of formwork and a member of
the Umdasch group. And the Centrum pro védská
studia (Centre for Vedic Studies) in the Czech Republic, and
Diagnosis4Health, a Dutch organisation, are further additions to update’s
customer base.
Half-year sales 30.5 percent higher than for same period of 2006
In terms of half-yearly figures, too, update has seen impressive
year-on-year improvement. Total sales rose from €10.831
million for the first six months of 2006 to €14.138
million for the same period in 2007 – a rise
of 30.5 percent. EBIT was €1.425
million for the first six months, up 76.8 percent over the first half
year of 2006 (€0.806 million). EBT was €1.571
million, 104.8 percent higher (€0.767 million
in the first half year of 2006). update’s
cash position climbed to €11.761 million –
30.6 percent higher than for the first six months of 2006 (€9.008
million). Shareholders’ equity for update
software AG totalled €21.942 million on 30
June 2007 – 66.3 percent higher than at
mid-year 2006 (€13.196 million). update
financed the purchase of Orgaplan Software GmbH via a share issue in
June 2007 – so the increase in the cash
position is explained by the positive development of business
operations. Orgaplan Software GmbH, acquired by update in April, was
fully consolidated in the second quarter of 2007.
About update software
update software AG (www.update.com) was founded in Vienna, Austria, in
1988. With more than 260 employees, and revenues of €23.4
million in 2006, it is Europe’s leading CRM
(customer relationship management) solution provider. It is quoted on
the Frankfurt Stock Exchange.
update products are used by more than 150,000 employees at over 1,200
leading companies. References include 3M, American Express, BILD
newspaper publishing group’s advertising
department, AstraZeneca, BAWAG P.S.K., Canon, DuPont, ESTAG, the Hassia
Group, UnicreditBank Hungary, Landesbank Rheinland-Pfalz International
S.A., LBS Nord, MagnaSteyr, Pernod Ricard, ratiopharm, Sony Deutschland,
as well as Sparkasse Bremen, Sparkasse Hamburg, and 200 other German
Sparkassen. update cooperates with carefully selected systems
integration partners, such as Atos Origin, Hewlett Packard, Sensix, and
Steria Mummert Consulting.
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