PARIS, Oct. 30, 2014 /PRNewswire/ --Hubwoo (Euronext: HBW.NX), a leading provider of comprehensive spend management and business process collaboration solutions , today announced financial information for Q3 2014, in accordance with the "European Transparency Obligations Directive" financial disclosure requirements.
Gregory A. Mark, Hubwoo Chairman and CEO commented: "As previously announced, net new sales has been our primary focus in 2014 as we seek to reverse the trend in revenue decline. This quarter has been productive, in terms of net new sales, and we enter Q4 at a level of SaaS sales which is twice that of the whole of 2013. Services sales also are strong compared to 2013, with year to date bookings already at 150% of that for the whole of last year. We continue to invest in our Catalog Management solution and position that as both a contract compliance enabler as well as a sourcing savings realizer. We also continue to develop more rules and process automation scripts within The Business Network as we take procurement process automation to the next level of effectiveness and efficiency."
Revenues:
| in EUR million |
Q1 2013 |
Q1 2014 |
Q2 2013 |
Q2 2014 |
Q3 2013 |
Q3 2014 |
% Change |
YTD Q1-Q3 2013 |
YTD Q1-Q3 2014 |
% Change |
|||||||||||
| Consolidated Revenue |
7.5 |
6.9 |
8.0 |
6.9 |
7.6 |
6.6 |
-13% |
23.1 |
20.3 |
-12% |
|||||||||||
| SaaS (**) |
6.4 |
5.7 |
6.5 |
5.6 |
6.3 |
5.5 |
-13% |
19.2 |
16.8 |
-12% |
|||||||||||
| Services |
1.1 |
1.1 |
1.4 |
1.3 |
1.3 |
1.1 |
-15% |
3.8 |
3.5 |
-8% |
|||||||||||
| (Non-Audited Figures) |
|||||||||||||||||||||
| (*) Percentages calculated on exact numbers, not the rounded numbers shown |
||||||||||||||||||||||
| (**) SaaS is a model of delivering technology where a software solution is hosted (cloud computing) as a service for its customers. |
||||||||||||||||||||||
| Clients do not buy the technology but pay a subscription fee to use it. |
||||||||||||||||||||||
Q3 2014 total revenue was EUR 6.6 million, slightly lower than Q2 2014, essentially as a consequence of seasonality related to the Services activity. The recurring SaaS component of revenue was EUR 5.5 million, down from the same quarter of 2013 as a consequence of the end of customer contracts as part of the technology transition that the company has been experiencing over the last seven quarters, as already mentioned in the past quarters.
The level of order intake of the first half, however, has been equivalent to the whole year 2013, and in the third quarter the company has signed a new major contract, the total value of which exceeds EUR 7 million over 5 years. The effect of the above will start being visible in the course of Q4 2014.
Major Q3 2014 events
New customer contract signature
In September 2014 Hubwoo signed a 5 years contract with a major international Bank in the Benelux region. The contract covers the source to settle operations of the client, and values EUR 7 million as minimum over 5 years.
In September 2014 Hubwoo was listed in the top 150 of the World's 500 Largest Cloud Applications Vendors. "I would like to commend Hubwoo for becoming part of Cloud Top 500 in our annual Apps Run The Cloud Survey. Leveraging the ubiquity of the Cloud, Hubwoo has made great strides in broadening the appeal of SRM applications and reshaping the overall market," said Albert Pang, president of Apps Run The World. Read the full release here.
In October 2014 Hubwoo was also ranked number 37 on the French Syntec Top 250 list.
About Hubwoo (www.hubwoo.com)
Hubwoo connects companies by providing comprehensive spend management and collaborative business process automation solutions for both goods and services, in the cloud, through The Business Network.
Our solutions integrate with any ERP or procurement system, providing our customers with an easy to use solution which drives adoption, compliance and savings.
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 GEP, 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
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SOURCE Hubwoo
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