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 Q4 2010 H2 2010
H2 2009 FY 2010Jan - Dec FY 2009
Jul - Sep Oct - Dec Jul - Dec
Jul - Dec Jan - Dec
Total revenue, SEK m 260 376 636
781 1 300 1 612
New sales (ILF) 12 28 40
73 66 154
Renewal revenue (RLF) 45 44 89
102 185 204
Software licenses, SEK m 57 72 129
175 251 358
Professional services revenue, SEK m 165 179 344
404 749 882
Hardware and other revenue, SEK m 38 125 163
202 299 372
Operating profit, SEK m -54 -9 -63
-189 -196 -308
Earnings after financial items, SEK m -55 -14 -69
-192 -214 -315
Net earnings, SEK m -53 -19 -72
-349 -192 -433
EBITDA * -8 18 10
-11 -62 16
* 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 (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 (christian.paulsson@ibs.net)
Executive Vice President and CFO, Fredrik Sandelin, Tel: +46 (0)8 627 23
00, e-mail: fredrik.sandelin@ibs.net (fredrik.sandelin@ibs.net)
IBS Year-end Report January - December 2010
| Source: IBS AB
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