Hubwoo announces Q2 2013 Revenues

PARIS, July 31, 2013 /PRNewswire/ -- Hubwoo (Euronext: HBW.NX), a leading collaborative business network provider, today announced financial information for Q2 2013, in accordance with the "European Transparency Obligations Directive" financial disclosure requirements.

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Greg Mark, Hubwoo CEO commented: "Hubwoo continues to aggressively transition the company from being single partner-dependent to focusing on Hubwoo intellectual property, creating a newly expanded partner network and rebuilding our sales pipeline. Once fully in place, we will be in a better position to  control our own destiny.  We are pleased today to announce a quarter over quarter growth, however, the rebuilding of Hubwoo remains a work in progress."

Revenues and profitability:

Q2 2013 revenue grows 6% compared to Q1 2013, with the SaaS (**) component up 2% and the Services strongly up (+29%).

The SaaS (**) performance is a result of strong upsell to the existing customer base, reflecting the value derived by customers and the increased stickiness and usage of Hubwoo intellectual property.

The strong improvement in the services component of revenue is the result of net new projects, both in the existing customer base and with new customers. The potential growth that Hubwoo can derive from recently signed channel partnerships is not yet reflected in these figures.

The comparison to last year's figures still shows a decline as a result of the market impact that M&A activity in our industry had on our business last year. For the past few quarters the company has discussed the transition period we are in to build new pipeline and move our business forward. Advance indicators of profitability also show a dramatic improvement. Audited profitability figures will be communicated at the end of August 2013.   

Major Q2 2013 events

New Solution Releases

New solution releases during the quarter included:

• Easy Buy for SAP MM customers – a user interface skin that enables contract compliant requisitioning without implementing a separate eProcurement system.
• Automated supplier enablement – faster supplier nomination and automated matching against the million businesses on The Business Network, together with online management and status control across suppliers of all sizes. Supplier onboarding "on the fly" enables purchase order transactions to automatically check the network for supplier matches and electronically onboard new suppliers.
• Network community tools – Enhancements to business profiles now include a combination of quantitative, qualitative, and third party data on businesses which enable spot buy and sourcing professionals to make quick and informed decisions and allows suppliers to market themselves where real commerce happens.

About Hubwoo (www.hubwoo.com)

Hubwoo delivers a step change in value to procurement, accounts payable and sales processes, increasing spend compliance and invoice automation. Powered by the worlds' busiest open and collaborative business network, Hubwoo connects companies to enable more productive B2B commerce. Through The Business Network, Hubwoo is equally focused on buyer and seller value, helping companies buy, sell and pay smarter. The Business Network connects companies to over one million businesses around the globe. Significant customers include BASF, Honeywell, Shell, Evonik, EDF, Nokia,  Nationwide, Michelin, Henkel, Statoil, CONSOL Energy, EcoPetrol, Campbell's, Burton's Foods, and The Dow Chemical Company.  Hubwoo's global partnerships include Microsoft, IBM, and Dun & Bradstreet.

Hubwoo has major operations in Paris, Houston, Chicago, Bonn, London, Manila, and Leuven.
Hubwoo is listed in Compartment C on the Euronext Paris Eurolist.
ISIN: FR0004052561, Euronext: HBW, Reuters: HBWO.PA, Bloomberg: HBW:FP

SOURCE Hubwoo

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