Press Release
- The financial growth targets were fulfilled in 2007 with total revenue of DKK 223.2 million and pretax earnings of DKK 1.8 million in 2007
- Continued strong growth of 30 percent in licence revenue in 2008 is expected to lead to earnings before depreciations (EBITDA) of DKK 25 million
Maconomy delivered on its promise to reach profitability by the end of 2007, posting pre-tax earnings of DKK 1.8 million. With revenue growth of 24 percent and solid projected growth in its key market – ERP solutions to Professional Services Organisations – Maconomy is set to further strengthen its focused market position in the future.
Maconomy’s Board of Directors today released the company’s Consolidated Financial Statements for 2007. The software company posted pre-tax earnings of DKK 1.8 million, successfully delivering on its promise to reach profitability by the end of 2007. Maconomy showed solid growth rates throughout 2007 as revenue grew by more than 20 percent in all four quarters. With total revenue of DKK 223.2 million in 2007 – in line with expectations and up from DKK 179.5 million in 2006 – Maconomy proved that the company is on track with the strategy plan “Roadmap for Growth” it presented in August 2005.
Maconomy expects total revenue of DKK 260 million in 2008 with earnings before depreciations of DKK 25 million. The company’s solid growth is expected to continue throughout the year. License sales, the key driver in the current growth phase, are expected to continue the positive trend with a 30 percent growth to DKK 90 million in 2008, up from 69 million in 2007.
"2007 was profitable, which means we delivered yet again on the plan we presented in August 2005, thereby completing our turnaround. The profit was modest, and there is no doubt that the profit margin must be increased, but this effort should be delivered bearing in mind that we are now a solid, profitable software company in rapid, but controlled growth. And that makes a crucial difference," says Maconomy CEO Hugo Dorph.
Maconomy launched two significant add-on modules in 2007, Maconomy People Planner and Maconomy AnalytiX. People Planner is an advanced capacity and resource planning solution that can be used as a stand-alone software application or fully integrated with the Maconomy ERP solution. AnalytiX is a businessanalysis tool to help companies handle business-critical information across the company. Both add-on modules have been praised by ERP analysts and will strengthen Maconomy’s product suite in the future. "As we move into 2008, Maconomy stands as an international software provider with a firm grasp of its own future and the capability to set the standard within a high-growth niche on the ERP market," adds Hugo
Dorph.
Further information
Hugo Dorph, CEO
+45 35 27 24 24
Ulrik Christensen, CFO
+ 45 35 27 23 67
ir@maconomy.com
The Consolidated Financial Statements can be read in full on: www.maconomy.com