2016 Revenue: €176m

  • Q4 activity up 6.1%

  • Sharp increase in annual recurring revenue (Saas): +46.6%

Revenue (unaudited) under IFRS (in €m)

2016

2015

Published

Change published

2015

Comparable basis*

Change on comparable basis*

Q1

42.5

42.2

+0.7%

41.5

+2.6%

Q2

41.9

48.9

-14.3%

47.8

-12.3%

Q3

32.3

35.0

-7.8%

33.8

-4.4%

Q4

59.2

55.8

+6.1%

54.3

+8.9%

TOTAL

176.0

181.8

-3.2%

177.4

-0.8%

(*) Comparable basis: adjusted to account for non-strategic businesses divested during the previous financial year

Analysis of Q4 activity:

Prodware generated revenue of €59.2m in Q4 2016, an increase of 6.1% versus €55.8m in Q4 2015.

On a comparable basis, quarterly activity was up 8.9%. Saas sales over the period rose 57.43%, to

€4.6m. 2016:

Prodware's revenue in 2016 stands at €176m, versus €181.8m in 2015. This represents a fall of 3.2%. Revenue remained basically stable on a comparable basis, nudging down just 0.8%.

The change in the sales model to Saas explains this slight drop in revenue. The Saas model leads to much lower immediate revenue, but will contribute to recurring revenue.

Sales in Saas rose from €12.6m in 2015 to €18.5m in 2016 (a 46.6% increase) and now represent a little over 10% of overall revenue, versus 7% in 2015.

Publishing revenue totaled €61.5m in 2016, representing 34.9% of the overall revenue. On a comparable basis, this is a 1.2% increase compared with 2015.

Revenue in the French-speaking zone fell 3.2% in 2016, to €77.4m. Revenue in the international zone totaled €98.5m, up 2.9% versus 2015. This represents 56% of the Group's activity, versus 52.7% in 2015.

Outlook

Prodware is pursuing its transformation plan, which is driving the progressive evolution of its high value-added offer toward technology consulting and the implementation of an IT system, underpinned by digital.

The Group is continuing its efforts to address the most profitable market segments as a priority, through an economic model that is increasingly oriented toward recurring services with high value- added and publishing, with a focus on digital.

Next publication: 2016 Annual Results: Wednesday, March 15, 2017 after close of trading. About Prodware

Founded in 1989, Prodware (www.prodware.fr) is an international group specializing in publishing/integration and hosting management solutions for businesses.

Prodware is Microsoft's premier partner in the EMEA region and has nearly 1,250 employees supporting 20,000 customers in 14 countries.

Armed with a powerful R&D structure, unique expertise in industrializing best practices and top-notch strategic alliances, the group aims to deploy its Prodware Adjust solution worldwide.

Prodware is a corporate citizen and supports its customers in their sustainable development approach with its range of GreenITude services (www.greenitude.fr). Prodware is one of the top companies in the Gaia Index.

Prodware is a company eligible for FCPI (innovation funds), SRI funds and SME PEA (equity savings plan) and is part of the EnterNext PEA-PME 150 index.

Prodware SA published this content on 22 February 2017 and is solely responsible for the information contained herein.
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