Press Releases / Press Release Trading Update FY09
PORTHUS MAINTAINS GROWTH TRACK RECORD AND EXPECTS GROWTH OF 20% IN ITS CORE BUSINESS
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Lier, Belgium, May 20, 2009, 7:30 AM CET – Porthus (Alternext: ALPTH), a leading OnDemand IT solutions provider today
provides a trading update in advance of its financial year results for the period ending June 30, 2009.
For financial year 2009, Porthus is confident it can maintain its track record of continued growth despite the extreme
economic environment.
Expected Performance Financial Year 2009
n Solutions revenue to grow by 20%
n Gross profit margin of 43% vs. 40.7% in 2008
n EBITA of above € 2,000K
n Recurring revenues to increase by 6%
The company previously indicated that it targeted revenue growth of 25% for its Solutions activity. As a result of slower implementation times of IT projects due to the economic crisis, the company adjusts its growth guidance from 25% to 20%.
Porthus' Solutions business is expected to grow from € 11,581K last year to € 13,850K. The Professional Services revenues
are expected to amount to € 8,300K compared to € 7,740K in financial year 2008.
Gross profit margin is expected to improve to 43%, compared to 40.7% in the previous year. Porthus expects to achieve EBITA
of above € 2,000K compared to € 1,822K in 2008.
Luc Burgelman, Chief Executive Officer of Porthus comments: 'While the entire IT industry is under extreme pressure due to the economic crisis, Porthus is continuing to grow its business and deliver improved profitability. We are strengthening our position in the market and will continue our investments in R&D which were significantly raised in financial year 2009. In addition, we have a solid balance sheet and strong net cash position which supports our company in continuing to deliver growth in these unstable economic times.'
Full year results will be published on Monday September 21, 2009.
Disclaimer
This press release includes forward-looking statements that involve risk and uncertainty. Although the company believes its expectations reflected in such forward-looking statements are based on reasonable assumptions, no assurance can be given that such projections will be fulfilled. Any such forward-looking statement must be considered along with knowledge that actual events or results may vary materially from such predictions due to, among other things, political, economic or legal changes in the markets in which Porthus does business, competitive developments or risks inherent in the company's business plan.
About Porthus
Porthus (Alternext: ALPTH) is a leading OnDemand IT solutions provider, enabling organizations to manage complex business processes across company boundaries. Porthus leverages innovative technologies and solutions to allow its customers to interact and conduct business with multiple business partners, in a reliable, cost-effective and secure way. Porthus develops, hosts and manages software applications on a central platform; Porthus.net. The use of these applications is offered to the customers 'OnDemand'; the customer has 24/7 access through the Internet and pays for the service on a per-transaction or per-user/month basis. Porthus offers Professional Services, Managed Services and Software solutions in targeted markets in which Porthus acquired considerable knowledge and experience. The company delivers its B2B OnDemand solutions to over 1000 companies, covering customer locations throughout Europe and beyond.
Contact Information at Porthus
Ina Suffeleers
Corporate Communications & Investor Relations Manager
Mobile: +32 (0)495 59 02 32
E-mail: ina.suffeleers@porthus.com