Continued organic growth
Strong progression in Cloud Computing business: + 21%
Initial United Kingdom successes
PURSUIT OF ORGANIC GROWTH: + 3.4 %
| SIDETRADE Group (in €'000) | 2012 | 2011 | Change (%) |
| Turnover (non-audited) | 13,004 | 12,582 | + 3.4% |
The SIDETRADE Group achieved an increase of 3.4% in revenue for the fiscal year 2012 with consolidated turnover of €13.00 M (2011: €12.58 M). Growth in the 2012 final quarter of 3.6% to €3.14 M (2011: €3.03 M) represents a quarterly increase of 5.5% (2012 Q3: €2.98 M).
As expected, organic growth was largely driven by strong revenues from Cloud Computing, in contrast to services activities (implementation, consultancy, business process outsourcing) which suffered from the weak economic environment.
SUCCESS OF THE SIDETRADE CLOUD: +21% GROWTH of SAAS revenue
In 2012, subscription-based customers of the SIDETRADE Cloud processed record volumes of more than 30.5 million invoices, posting a 26% increase over the previous year. This volume of invoices represents an equivalent number of payment activities, involving more than 1.2 million debtor companies, surpassing the €82 Bn nominal value of business to business transactions. More than ever, the SIDETRADE Cloud business constitutes the primary source of growth for the Group. Subscription-based revenues from the SaaS business continue to post double-digit growth with an increase of 21% during 2012.
Looking beyond these results, recurring SaaS revenues derived from multi-year contracts guarantee excellent visibility of medium-term business activity. In this regard, the SaaS order book at 2012 year end stood at €17.1 M. These unrealised committed revenues are not included in the income statement or the Group's 2012 year end balance sheet.
initital united kingdom successes
Barely a year ago, SIDETRADE announced the launch of a UK subsidiary with a bold commitment to establish the company across the Channel as the leading French SaaS provider in the financial landscape. Today SIDETRADE has notched up initial commercial successes with the adoption of its services by several English accounts including NOKIA SIEMENS NETWORK, LINDE MATERIAL HANDLING and INK PUBLISHING. SIDETRADE will continue to strengthen its commercial presence in the UK from the beginning of 2013 in order to accelerate this promising start.
Olivier Novasque, CEO of SIDETRADE Group, affirms:
« Yet again the Cloud is the driving force behind organic growth of the SIDETRADE Group and will continue to be so. Market demand for this technology is based on the convergence of new ways of accessing software, new value creation methods, and a wider economic environment open to solutions with a rapid return on investment. Our encouraging beginnings in the UK demonstrate that our solutions are pertinent to one of Europe's most competitive markets, and above all, signal our ambition for the strong international expansion of our business over the next three years. As pioneers of the financial Cloud, SIDETRADE will fully deploy the necessary means in 2013 to accelerate our growth in the medium term».
