Figures for the first three months of the financial year 2008 (PR)
For the specialist and business press
Berlin, 21 May 2008
Figures for the first three months of the financial year 2008
First three months appear weaker than they are
Order situation remains good
Good prospects for the further progress in the financial year
IVU Traffic Technologies AG begins the financial year 2008 with the following figures for the first three months: revenue of € 5.1 million (compared with € 6.3 million for the same period in the previous year, down 18 %), gross profit € 4.2 million (down 27 %), EBIT - € 1.2 million, and the consolidated loss for the period was - € 1.2 million. This makes the first quarter of the financial year 2008 seem weaker than it actually is. In the first quarter of 2007 some unusually large invoices went out for software licences, which has not yet been the case this year. This is nothing unusual for IVU, but is characteristic of the seasonal nature of its financial year.
The figures also reflect in part the project business which is typical for a software house like IVU. This does not generate the same steady revenue flow that can be achieved with the sale of mass products. With large projects there are revenue peaks, and between these there are dips, in particular when the business involves invoicing for licences. In contrast, maintenance contributes steadily to the revenue, and so does the on-going work on the projects, in accordance with the degree of completion. If parts of the project involve more work than anticipated this too can lead to a temporary reduction in revenue. In large and complex IT-projects it is not always possible to avoid this. Nevertheless it is to be expected that once again 2008 will be a good year for business.
“Our IT projects are so large and complex that such shifts occur on occasions”, explains Prof. Ernst Denert, Chair of the Board of Management of IVU Traffic Technologies AG. “It is nothing to be concerned about. In the last quarter we were able to conclude important sub-projects, the PT-User Forum has once again confirmed our good market positioning, and our order books are full.”
In the middle of the second quarter, the performances and the outstanding orders already cover some 80% of the planned revenue and gross profit for 2008.
The goals of the company for 2008 remain achievable – revenue of some € 30 million, and an EBIT of about € 2 million.
You can access the full report from 7.30 p.m. at www.ivu.de.
Contact:
Renate Bader
Head of Corporate Communications
IVU Traffic Technologies AG
Bundesallee 88, 12161 Berlin
Telefon +49.30.8 59 06-800
Telefax +49.30.8 59 06-111
E-Mail:
Internet: www.ivu.de
IVU Traffic Technologies AG is a leading supplier of IT systems for planning, operating and optimising transport and logistics processes. More than 30 years of experience developing hardware and software systems for more than 350 public transport companies has also made IVU the market leader for IT solutions in other segments: monitoring truck fleets, setting up retail networks in geomarketing, election processing. This is IVU's approach to transportation and beyond.
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