Prodware: Business Growth in The 1st Quarter of 2020
14 Mai 2020 - 5:45PM
Business Wire
- Revenues: +1.4%
- Significant increase in SaaS sales: +28.2%
- Limited impact of the Covid-19 crisis during this
period
Regulatory News:
Prodware (Paris:ALPRO):
IFRS revenues
Unaudited data - in €m
2019
2020
Change
1st quarter
46.3
46.9
+1.4%
Positive business outlook in a challenging economic
period
Prodware generated €46.9 million in revenue in the 1st quarter
of 2020, compared with €46.3 million in the same period in 2019,
representing a 1.4% increase.
These commendable results, despite the dire economic situation
since March 2020 due to the Covid-19 global health crisis, were due
to SaaS sales, which were up 28.2% during this period. SaaS sales,
which spearhead the Group's strategy, account for 17% of its
business compared to 14% in the 1st quarter of 2019.
Sales in software licenses increased slightly to €16.1 million
(+3.3%), accounting for 34% of overall revenues, and were stable
compared to the same period of the previous financial year.
Conversely, the 1st quarter of 2020 was marked by a slump in
integration & consulting services as projects were postponed
and signing of new deals pushed back, due in part to the impact of
lockdowns across Europe as of March. Sales in these lines of
business were down 6.7% reaching €22.8 million.
Across the group’s geographies, international revenues grew 6.2%
to reach €27.9 million, driven in particular by strong business
performance in Germany and The Netherlands.
Impacts of the Covid-19 crisis
As of mid-March, Prodware put together a crisis management task
force whose members meet on a regular basis to monitor the
situation and decide on the required measures and steps to move
forward. A Business Continuity Plan has been rolled out addressing
all business divisions and was communicated to all the
employees.
A remote working infrastructure has been set up for all business
lines where applicable. Each department can therefore meet the
demands of their customers thanks to the hard work and dedication
of the teams who can activate digital processes throughout ensuring
smooth workflow management. The limited but necessary on-site work
is still planned and is conducted in full compliance with the
recommended safety rules and measures.
The Group is also closely monitoring its expenses and conducting
tight budget spending reviews aligning them to the business. For
instance, the French government's partial unemployment scheme has
been applied to all business lines that have experienced a
slowdown. These measures seek to minimize the impact on
profitability related to the potential decline in revenues in
2020.
Prodware is also paying very close attention to the management
of its liquidities and debt.
Outlook
The effects of the global Covid-19 pandemic will continue to
affect business going forward, as it did in the 1st quarter. The
magnitude of the impact will depend on how long lockdowns last and
the rate at which the economy picks up again in the regions where
Prodware operates.
Beyond the short-term effects of this crisis, the Group expects
to see a sustainable pick-up in the growth of digital, which
permeates considerably across all businesses, whether to support
the development of remote working, boost e-commerce activity, IoT
or point-to-point logistics. As experts in developing and deploying
industry-specific business solutions, Prodware unleashes an
incredible dynamic supporting its long-term growth strategy.
Next publication: Revenue for the 1st half of 2020: 20
July 2020 after close of trading.
About Prodware
With 30 years of experience and know-how in IT innovation, we
strive to provide value and expertise to our customers around the
world. Whether we’re implementing the most ambitious cloud
strategies, developing AI-powered decision-making tools, or
creating IoT applications, Prodware is always at the cutting edge
of innovation.
Since its inception, Prodware has leveraged technological
progress to help businesses prepare for the future by helping them
build the business processes of tomorrow for the manufacturing,
sales, distribution, finance, and business service industries.
The Prodware group includes more than 1,350 employees across 13
countries. It generated revenues of €188 million in 2019. Prodware
SA is listed on Euronext Growth and is eligible for FCPI
(innovation funds) and SME PEA (equity savings plan).
For more information, visit www.prodwaregroup.com/fr-fr/
EURONEXT GROWTH (formerly ALTERNEXT)
ISIN FR0010313486 - ALPRO - FTSE 972 IT services Prodware is
FCPI-eligible – Prodware, a socially responsible company, is a
member of the Global Compact.
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version on businesswire.com: https://www.businesswire.com/news/home/20200514005520/en/
PRODWARE Stéphane Conrard Chief Financial Officer Tel.:
+33 (0)9 79 99 90 00 investisseurs@prodware.fr
PRESS Gilles Broquelet CAP VALUE Tel.: +33 (0)1 80 81 50
01 gbroquelet@capvalue.fr
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