STOCKHOLM--(BUSINESS WIRE)--Regulatory News:
Addnode Group (STO:ANODB):
Growth and strategic acquisition in Norway
Second quarter 2013
· Net sales totaled SEK 337.9 (320.1) M, up 6 percent.
· EBITA amounted to SEK 19.5 (22.3) M, an EBITA-margin of 5.8 (7.0) percent.1)
· Operating profit amounted to SEK 13.9 (17.4) M, an operating margin of 4.1 (5.4) procent.1)
· Profit after tax was SEK 9.9 (13.6) M
· Earnings per share after dilution amounted to SEK 0.35 (0.48).
· Cash flow from operating activities amounted to SEK 20.2 (22.0) MSEK.
1) Excluding cost for the revaluation of the conditional purchase considerations totaling SEK 0.0 (-1.9) M.
January – June 2013
· Net sales totaled SEK 708.6 (679.0) M, up 4 percent.
· EBITA amounted to SEK 48.1 (59.2) M, an EBITA-margin of 6.8 (8.7) percent.1)
· Operating profit amounted to SEK 37.2 (49.8) M, an operating margin of 5.2 (7.3) procent.1)
· Profit after tax was SEK 28.0 (36.6) M
· Earnings per share after dilution amounted to SEK 0.99 (1.29).
· Cash flow from operating activities amounted to SEK 65.8 (59.6) MSEK.
Significant events during the first quarter of 2013
· Framework for e-archive for all of Sweden's municipalities and county councils.
· Acquisition of Basepoint Kajaani Oy strengthens our position in Finnish infrastructure market.
· Extensive orders from ÅF regarding software and services.
· New Acting Manager of Business Area of Content Management.
Significant events after the end of the period
· Acquisition of Joint Collaboration AS, a Norwegian software company with a turnover of approximately SEK 135 M.
· Order for e-archives for the Swedish National Police Board valued at SEK 10 M.
The information in this interim report is such that Addnode Group must disclose in accordance with the Swedish Securities and Clearing Operations Act and/or the Financial Instruments Trading Act. The information was released on 19 July 2013 at 11:00am.
If you find any different figures from the Swedish version, then the original version in Swedish is the correct version.
CEO’s comments
Higher revenue from software as well as support and maintenance agreements
Addnode Group grew 6 percent during the second quarter, compared with the year-earlier period. Software revenue and the recurring revenue from support and maintenance agreements continued to increase, while revenue from services declined slightly.
Business Areas Product Lifecycle Management (PLM) and Process Management reported strong growth with improved earnings compared with the year-earlier period. Business Areas Design Management expanded during the second quarter, but the operating margin was slightly lower, year-on-year. The trend for Business Area Content Management is unsatisfactory. We have seen a decrease in sales and results in the offering within web, intranet and e-commerce, while systems and voice-driven solutions are expanding with good profit. We have appointed a new Acting Business Area Manager for Content Management, with a focus on restoring profitability in the business area
Strategic acquisition in Norway expands the SaaS offering
After the end of the period, we signed an agreement to acquire the software company Joint Collaboration AS. Joint Collaboration is the largest supplier of project and cooperation solutions to the oil, gas and construction industries in Norway. Addnode Group is already one of the largest suppliers of operation-critical support systems to engineering and construction operations in the Nordic region. This acquisition will provide us with an even stronger offering for these customers, higher expertise and the opportunity for synergy effects, as well as strengthen the Group in the Norwegian market. The objective is that Joint Collaboration will be included in Business Area Design Management.
Joint Collaboration has developed two web-based cooperation tools: Joint ProsjektHotell and Joint UniZone. Both solutions are SaaS lease solutions for interaction between a company and its external customers and suppliers for the duration of a project. Joint Collaboration’s solutions have more than 45,000 users from such customers as Statoil, Jernbaneverket, the Norwegian Public Roads Administration, Lyse, Oslo 2022, the Norwegian Defence Estates Agency, Hoegh, M7 Offshore, Hæhre Entreprenør and many more. In addition to its SaaS lease solutions, Joint Collaboration distributes EMC software with hosting and support services.
For the 12-month period, April 2012 – March 2013, net sales for Joint Collaborations amounted to NOK 120 M and EBITA to NOK 23 M. The company has about 50 employees. The acquisition will increase recurring revenue for Addnode Group and is anticipated to increase earnings per share from the date of transfer, August 30, 2013.
Staffan Hanstorp, President and CEO
About Addnode Group
Addnode Group is one of the largest IT groups in the Nordic region. We are market leader in the Nordic region in IT solutions for design, construction and product lifecycle management for products and installations. Addnode Group also has a strong market position in Sweden in case management systems for the public sector, municipal technical systems, geographic information systems, as well as a strong offering in the web area. Addnode Group has approximately 900 employees and customers are from both private and public sectors. Net sales for 2012 amounted to SEK 1,365 M.
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