EDB maintains its EBITA margin in a difficult market
(Thomson Reuters ONE) - (Oslo, 3 February 2010) EDB Business Partner reports revenue of NOK 1,917million in the fourth quarter of 2009, as compared to NOK 2,145 million in thefourth quarter of 2008. EDB's operating profit before intangible assetamortisation (EBITA) was NOK 168 million, as compared to NOK 193 million for thefourth quarter in 2008. "2009 proved to be one of the most challenging years ever for the IT servicesmarket. We experienced a decline in demand in the same way as the rest of ourindustry, but EDB's improvement program helped us to maintain satisfactoryprofitability. Despite the difficult market conditions, our customers haveshowed great confidence in EDB and this helped us to achieve a record level oforder inflow for the year at NOK 8.6 billion", comments Acting CEO John-ArneHaugerud.Key figures and main features of the fourth quarter of 2009 * Operating revenues of NOK 1,917 million (NOK 2,145 million) * EBITA of NOK 168 million (NOK 193 million) * EBITA-margin 8,8 percent (9,0) * Cash from operations of NOK 374 million (NOK 606 million) * CAPEX of NOK 62 million (NOK 71 million) * New contracts: NOK 1.4 billion (NOK 850 million) * Earnings per share: NOK 0.59 (NOK 0.54)Key figures and main features of 2009 * Operating revenues of NOK 7,492 million (NOK 7,871 million) * EBITA of NOK 603 million (NOK 724 million) * Cash from operations of NOK 591 million (NOK 759 million) * CAPEX of NOK 215 million (NOK 329 million) * New contracts: NOK 8.6 billion (NOK 3.7 billion) * Reduction in costs of NOK 400 million achieved through the cost program * Earnings per share: NOK 1.36 (NOK 2.18)Results from the business areas for the fourth quarter of 2009IT Operations: The business area reports revenue of NOK 1,110 million for thefourth quarter of 2009 as compared to NOK 1,211 million for the same quarter in2008. EBITA for the quarter was NOK 97 million, as compared to NOK 101 millionin the fourth quarter of 2008.Solutions: The business area reports revenue of NOK 405 million for the fourthquarter of 2009 as compared to NOK 382 million for the same quarter in 2008.EBITA for the quarter was NOK 51 million, as compared to NOK 52 million in thefourth quarter of 2008.Application Services: The business area reports revenue of NOK 506 million forthe fourth quarter of 2009 as compared to NOK 626 million for the same quarterin 2008. EBITA for the quarter was NOK 48 million, as compared to NOK 60 millionin the fourth quarter of 2008.In Application Services EDB wants to prepare for increased use of globalsourcing consultants in collaboration with EDB's nordic consultants.So far this area has been organized as to separate units within ApplicationServices. To realize the potential in a closer collaboration between the units,Tom Scharning is appointed new Executive Vice President responsible for thebusiness area Application Services with effect from 3. February.Future prospectsThe Nordic IT services market showed a marked decline in 2009 due to reduceddemand, resulting in pressure on prices. However, some areas of the IT solutionsmarket showed growth, and EDB strengthened its position within bank and finance.At the start of 2010, there is still reluctance with respect to investments. EDBis experiencing growth in service areas where standardisation of ITinfrastructure and automation of work processes is part of cost saving programs.This is reflected by lower demand for development projects, having a negativeeffect on EDB's revenue.The market research companies IDC and Gartner are expecting an improving trendin the IT services market during 2010, with the prospect of growth in the secondhalf of the year.Please see the attached 4th quarter report for more detailed financialinformation.Any enquiries may be addressed to:John-Arne Haugerud, Acting CEO. Tel: + 47 22 77 21 01Kristian Kuvaas Johansen, EVP and CO. Tel: + 47 476 03 334Geir Remman, EVP, Corporate Communications. Tel: + 47 970 55 017About EDBEDB Business Partner is one of the leading IT groups in the Nordic region. Thecompany offers solutions for the full range of business-critical IT services.EDB aims to be a close and attentive partner that leverages its deep industryknowledge and international capabilities to help its customers realise the fullpotential of IT. The company has local presence in 13 countries, almost 6,000employees and annual turnover of around NOK 7.5 billion. EDB Business PartnerASA is listed on the Oslo Stock Exchange.www.edb.com
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Datum: 03.02.2010 - 02:02 Uhr
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