Current news
19.03.2010
itelligence AG publishes final figures for 2009
itelligence AG met its revenue and EBIT forecasts for fiscal year 2009. With the publication of its final figures, itelligence reported revenue growth of 1.6% to MEUR 220.0 after MEUR 216.6 in the previous year. Among other things, this development was driven by the acquisition of 2B Interactive, Eindhoven, in the fourth quarter of 2009.
Herbert Vogel, CEO of itelligence AG: “2009 was a challenging year for itelligence AG and the industry as a whole. In light of this, we are satisfied with our results, which were helped by the cost reduction measures that we initiated at a very early stage. In the fourth quarter in particular, we were able to recover some of the lost ground thanks to high revenues and an increase in incoming orders.”
In the individual divisions, Outsourcing & Services enjoyed particularly positive development, with revenue growth of +23.0% from MEUR 61.6 to MEUR 75.8. At MEUR 28.5, License revenues were down 8.4% on the record level of 2008 (MEUR 31.1), while Consulting revenues fell by -6.6% from MEUR 123.5 to MEUR 115.3.
A segment analysis shows encouraging development in the USA segment, with strong revenue growth of +7.7% to MEUR 50.2 after MEUR 46.6 in 2008. Western Europe continued the positive trend recorded in the previous year, with revenues increasing by +7.1% from MEUR 34.3 to MEUR 36.7. Germany/Austria, the segment of the itelligence Group with the highest revenues, remained essentially unchanged at MEUR 113.8 after MEUR 114.3 in the previous year ( 0.4%). In the Eastern Europe segment, revenues for the past fiscal year declined by MEUR 2.2 ( 12.0%) year-on-year, from MEUR 18.1 to MEUR 15.9. After adjustment for currency translation effects, however, revenues only fell by 1.3% or around MEUR 0.2 as against the previous year.
Earnings boosted by strong fourth quarter
With regard to its earnings figures, itelligence AG exceeded its forecast of an EBIT margin of between 4.7% and 5.2% thanks to a strong fourth quarter. The EBIT margin for fiscal year 2009 was 5.6% (previous year: 6.3%), resulting in EBIT of MEUR 12.3 after MEUR 13.6 in the previous year. The IFRS net profit amounted to MEUR 7.2 compared with MEUR 10.8 in 2008. Accordingly, earnings per share for fiscal year 2009 totaled EUR 0.28 after EUR 0.44 in the previous year.
As the Company’s earnings situation remains stable, the Management Board and Supervisory Board will propose to the Annual General Meeting the distribution of a dividend of EUR 0.10 per share for fiscal year 2009.
Outlook 2010
Norbert Rotter, CFO of itelligence AG: “We expect the market environment to remain challenging in the current fiscal year, with restrained investment activity on the part of midmarket companies. All in all, however, itelligence is confident that it can continue its solid development and strong growth in fiscal year 2010.”
In light of current market forecasts and assuming a stable macroeconomic environment, itelligence expects to generate revenues of MEUR 230-240 in the current year, representing year-on-year growth of between 4.5% and 9.1%. The EBIT margin is forecast to remain essentially unchanged at between 5.2% and 5.6%.
Detailed information on fiscal year 2009 can be found in the Annual Report.
