UNIT4 Reports Continued Growth in FY2011

SaaS revenues grow strongly; Group well positioned as move to SaaS accelerates

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Feb 21, 2012, 01:14 ET

SLIEDRECHT, The Netherlands, February 21, 2012 /PRNewswire/ --

UNIT4, the global business software group, today announced annual results for 2011 which showed increased revenue and the trend towards Software as a Service (SaaS) continuing strongly. Listed on the Amsterdam Stock Exchange, UNIT4 is the world's leading provider of enterprise software for Businesses Living IN Change (BLINC).

UNIT4 is well known for providing customers in the public and private sectors with software solutions that reduce costs, improve control and enable them to manage rapid and continuous change without the typical costs associated with set-up and customization. This differentiation proved key in growing the number of significant deals (above €1 million [*$1.33m]), where UNIT4 successfully competed and won against competition from large 'tier 1' players in the market. Large deals included Addis Ababa Water and Sewerage Authority in Ethiopia, the City of Oslo in Norway, and Magnox in the UK.

Positive revenue growth in a number of countries exceeded market levels, namely Singapore (+20%), Norway (+15%), North America (+13%), Sweden (+8%) and Benelux (+6%). There was strong activity in both the private and the public sector in these regions.

Highlights for full year 2011:

Total revenue increased by 8% to €454.7 million ($603.3m) (2010: €421.7 million)
EBITDA, including FinancialForce.com, rose 2.1% to €87.9 million ($116.6m) (2010: €86.1 million)
Earnings per share (before goodwill-related items) rose 7.9% to €1.64 ($2.17)
Net profit (before goodwill) increased 11.1% to €48.0 million ($63.6m) (2010: €43.2 million)
Product revenue increased 10% to €80.0 million ($106m) (2010: €72.7 million)
SaaS and subscription revenue grew 45.1%
Strong performance from FinancialForce.com, with excellent prospects for future growth
Acquisitions in the year have positioned the company to enter the business analytics market aggressively and to extend market reach in Asia.

FinancialForce.com, UNIT4's US-based cloud applications company formed with minority investment from salesforce.com, grew strongly in 2011. The annual revenue run rate (including services) was over $9 million by December 2011. The launch of FinancialForce Professional Services Automation (PSA) has added significant value, both in terms of revenue and the strategic direction of the company. Customers are increasingly taking both Accounting and Professional Services Automation (PSA) applications, driving larger average deal sizes. The largest deal secured to date had a total multi-year contract value of almost $1 million. FinancialForce.com has staff in the US, UK and Spain, customers in more than 25 countries, and users in more than 45 countries.

Results webcast

Chris Ouwinga, UNIT4 CEO and Edwin Van Leeuwen, UNIT4 CFO will be presenting the results via a webcast at 1000 CET on 22 February 2011. To join the webcast please visit http://www.unit4.com/Investors/financialinformation

For a full copy of the 2011 results statement, please visit http://www.unit4.com/Investors/investornews

* USD rate calculated using exchange rate of 1.326 (XE Universal Currency Converter)

About UNIT4

UNIT4 is a global business software and services company aimed at helping dynamic public sector, and commercial services organizations to embrace change simply, quickly and cost effectively in a market sector it calls 'Businesses Living IN Change' (BLINC)™. The Group incorporates a number of the world's leading change embracing software brands including Agresso Business World, our flagship ERP suite for mid-sized services intensive organizations and Coda, our best-of-class financial management software.

With operations in 17 European countries, as well as 7 countries across North America, Asia Pacific and Africa and sales activities in several other countries, revenue of €454.7 million ($603.3m) was realized in 2011. UNIT4 is headquartered in Sliedrecht, the Netherlands and has over 4,000 employees. It is listed on Euronext Amsterdam by NYSE Euronext and is included in the Amsterdam Midcap Index (AMX). For more information on UNIT4 or any of its operating companies, please follow us on Twitter @UNIT4_Group, visit our Facebook page http://www.facebook.com/#!/UNIT4BusinessSoftwareNV, visit the website at http://www.unit4.com or contact:

Emma Keates, Group PR Manager
UNIT4
Tel: +44(0)1423-537977
Email: [email protected]

SOURCE UNIT4