Hubwoo Announces Financial Information for 19 months ending 31st July 2018
Paris - September 28th, 2018 - Hubwoo (Euronext: HBW.NX), a leading provider of comprehensive spend management and business process collaboration solutions, today announced financial information for the 19 months to July 2018, in accordance with the "European Transparency Obligations Directive" financial disclosure requirements.
Financial data
| in € million | 12 months ending 31 December 2016 | 19 months ending 31 July 2018 | 12 months ending 31 July 2018* | ||
| Consolidated Revenue | 20.6 | 27.4 | 16.8 | ||
| SaaS (**) | 18.7 | 25.8 | 15.9 | ||
| Services | 1.8 | 1.6 | 0.9 | ||
| (Non Audited Figures) | |||||
| (*)ProForma data (**) SaaS is a model of delivering technology where a software solution is hosted (cloud computing) as a service for its customers. Clients do not buy the technology but pay a subscription fee to use it. | |||||
Presentation is done on 19 months due to the year end date change following the acquisition of the Hubwoo Group by the Proactis Group. We show the turnover for 12 months to the end of July 2018 for indicative purposes only.
The turnover of the Group is below the levels of prior periods due principally to the full year effect of the non-renewal of old SaaS contracts during the period prior to the acquisition of the Group by Proactis Holdings PLC on 4 August 2017. These non-renewals were largely of contracts incorporating third party software. Whilst the Group has still experienced some non-renewals of similar old SaaS contracts since that date, the rate of non-renewal has slowed to more normal levels and, consequently, the rate of decline of revenues has also slowed, particularly during the latter part of the 19 month period ended 31 July 2018. Renewal rates of contracts incorporating proprietary software have been stable. The Services component of revenues reflects the pattern in SaaS revenues
About Hubwoo (www.hubwoo.com), a Proactis Company
Hubwoo connects companies by providing comprehensive, cloud-based spend management and collaborative business process automation solutions for both goods and services, through The Business Network. Our solutions integrate with any ERP or procurement system, providing our customers with an easy to use solution which drives adoption, compliance and savings.
Significant customers include BASF, Evonik, Nationwide, Michelin, Henkel, Statoil, CONSOL Energy, and The Dow Chemical Company.
Hubwoo has major operations in Paris, Houston, Bonn, London, and Manilla. Listed in Compartment C on the Euronext Paris Eurolist.
ISIN: FR0004052561, Euronext: HBW, Reuters: HBWO.PA, Bloomberg: HBW:FP
Contacts
Tel: +33 (0)1 53 25 55 00
E-mail: investorContact@proactis.com
