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 (Christian.Paulsson@ibs.net) Fredrik Sandelin Executive Vice President and CFO IBS AB +46 (0) 8 627 23 00 Fredrik.Sandelin@ibs.net (Fredrik.Sandelin@ibs.net)
IBS Interim report January - June 2010
| Quelle: IBS AB
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