itelligence AG / Half Year Results
22.07.2010 08:32
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itelligence AG presents figures for first half of 2010
Total revenues up 12.5% to MEUR 119.3
Strong growth of 17.6% in Outsourcing & Services
EBIT totals MEUR 3.2 including acquisition costs of MEUR 0.6
Orders on hand rise 22.7% to MEUR 196.5
Revenue guidance for year as a whole increased
Bielefeld, July 22, 2010 - In the first six months of the current financial
year, itelligence AG again increased its revenues from MEUR 106.0 to MEUR
119.3, a rise of 12.5%. Among other things, this development was driven by
the acquisitions in the Netherlands, the USA and France in recent months.
At MEUR 196.5, orders on hand at the end of the second quarter of 2010 were
up on the high level of MEUR 160.1 recorded in the previous year.
Herbert Vogel, CEO of itelligence AG, commented: 'itelligence is extremely
well positioned and the current market environment continues to offer
substantial growth opportunities. The development in orders on hand shows
that we will generate significant growth in the second half of the year
with a focus on improving our profitability.'
In its revenue areas, itelligence AG recorded particularly strong growth in
the Consulting and Outsourcing & Services divisions. Consulting revenues
increased by 11.4% year-on-year, from MEUR 59.7 to MEUR 66.5, while
revenues in the Outsourcing & Services division rose by 17.6%, from MEUR
36.9 to MEUR 43.4. Only Licenses revenues saw a slight decline of 2.1%,
from MEUR 9.4 to MEUR 9.2.
In the geographical segments, revenues in Germany/Austria increased by 1.8%
in the first half of 2010, from MEUR 54.2 to MEUR 55.2. The USA saw
significant revenue growth of 16.6%, from MEUR 26.5 in the previous year to
MEUR 30.9 in the first six months of 2010. Revenues in Western Europe
increased sharply by 45.6%, from MEUR 15.8 to MEUR 23.0, while the figure
for Eastern Europe remained unchanged year-on-year at MEUR 7.8. The Asia
segment, which is currently in the start-up phase, contributed MEUR 0.8 to
Group revenues in the first half of 2010.
EBIT declined from MEUR 3.8 in the previous year to MEUR 3.2 in the first
half of 2010. Among other things, this was due to non-recurring acquisition
costs in the amount of MEUR 0.6. Profitability was also impacted in
particular by additional expenses of MEUR 0.8 for fixed price projects in
the Germany/Austria region. Accordingly, the EBIT margin amounted to 2.7%
after 3.6% in the first half of 2009. IFRS net profit for the period
totaled MEUR 1.5 in the first six months of the current financial year
after MEUR 2.4 in the first half of 2009. Earnings per share therefore
amounted to EUR 0.06 after EUR 0.09 in the previous year.
Norbert Rotter, CFO of itelligence AG: 'The acquisitions we have conducted
will be offset by significant legal and due diligence costs this year, but
we expect them to have a positive effect on revenues and earnings in the
coming financial year.'
The Board of Management expects business to continue to pick up in the
second half of the year. Due to its foreign acquisitions, itelligence is
increasing its revenue guidance to between MEUR 245.0 and MEUR 255.0
(previously MEUR 230.0-240.0) and is reiterating its forecast EBIT margin
of between 5.2% and 5.6%.
A detailed presentation of the second quarter and the first six months of
2010 can be found in the Quarterly Report 2/2010, which will be published
on the company's website, www.itelligence.de, on July 29, 2010.
itelligence is one of the leading international full-service providers of
solutions in support of SAP solutions, employing more than 1,650 highly
qualified employees in 19 countries and in five regions (Americas, Asia,
Western Europe, Eastern Europe and Germany/Austria). As a frequently
awarded SAP partner, itelligence realizes complex projects in the SAP
solution-based environment for over 3,000 customers worldwide. In 2006,
itelligence obtained gold-level status as an SAP channel partner as part of
the SAP PartnerEdge(TM) program in Germany, and in the U.S. in 2007. The
company's services in support of SAP solutions range from consulting and
licensing to outsourcing and services to proprietary industry-specific SAP
solutions. In 2009, itelligence generated total sales of EUR 220.0 million.
Investor Relations:
Katrin Schlegel
Tel: +49 (0) 521-91 448 106
Fax: +49 (0) 521-91 445 201
Katrin.Schlegel@itelligence.de
22.07.2010 08:32 Ad hoc announcement, Financial News and Press Release distributed by DGAP. Medienarchiv at |[![CDATA[|[a href="http://www.dgap-medientreff.de"|]www.dgap-medientreff.de|[/a|]]]|] and |[![CDATA[|[a href="http://www.dgap.de"|]www.dgap.de|[/a|]]]|]
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Language: English
Company: itelligence AG
Königsbreede 1
33605 Bielefeld
Deutschland
Phone: +49 (0)521 91448-106
Fax: +49 (0)521 91445-201
E-mail: katrin.schlegel@itelligence.de
Internet: www.itelligence.de
ISIN: DE0007300402
WKN: 730 040
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, München, Düsseldorf, Stuttgart, Hamburg
End of News DGAP News-Service
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DGAP-News: itelligence AG presents figures for first half of 2010
| Source: EQS Group AG