EANS-Adhoc: IVU Traffic Technologies AG
IVU presents Annual Report 2008 /
Revenue increased, gross profit stable
EBIT positive and consolidated profit /
Very positive outlook for 2009
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
annual report
19.03.2009
Despite the financial and economic crisis, IVU Traffic Technologies AG has been able to present positive figures for the fourth year running. That is the key conclusion from the Annual Report 2008, which was approved today by the Supervisory Board of the Berlin software company. The figures show that all key parameters are positive, the revenue has risen significantly in comparison with the previous year, and the gross profit is stable. EBIT and the consolidated profit are below those from the previous year, but at the same time IVU will be debt-free in the middle of 2009. The growth trend has continued - in particular internationally. IVU is optimistic both for the current year and for the following years.
Revenue for the financial year 2008 was EUR 33.8 million (previous year: EUR 31.4 million, plus 8 %), the gross profit is EUR 24.7 million (previous year: EUR 24,8 million), EBIT EUR 1.3 million and a consolidated profit of EUR 1.3 million. The renewed annual profit could be used in order to further reduce the loans. IVU is in a stable financial situation and will be debt-free from mid-2009.
Revenue has risen considerably more than the gross profit. The main reason for this is the increased sales of hardware, in particular on-board computers, which also brings with it an increase in material expenditures.
The gross profit has not risen in the same way as revenues because in 2008 considerable additional performances were necessary for software development, in order to meet the requirements of important and major customers. These performances were not planned in this way. However, viewed in the medium-term they will not lead to losses. These are rather to be viewed as investments in the IVU.suite which will lead to licence earnings in future projects.
Costs have risen in the financial year 2008 - personnel expenditure by EUR 840 000, and operating expenses by EUR 342 000. One key reason for this lies in the internationalisation of the business of IVU. In order to further raise the quality of the team and to cope with the growth trend, additional software engineers and architects as well as project engineers were recruited in 2008. At the same time, projects such as the one in Cali, Colombia, led to increased travel activities.
The increased personnel costs have impacted on EBIT as well as on profits before and after taxes, which are about half the level of the previous year. This represents a conscious decision to invest in the future of IVU.
IVU also expects good figures for the financial year 2009. A special role here is played by the project in Cali. As the largest individual project in the history of the company, it makes a considerable contribution to the order situation, which can be classed as very good. Already in March it is considerably higher than for last year. This means that the revenue planned for 2009 is already secure to a considerable extent. It will be above EUR 35 million, and the gross profit is planned as EUR 27 million. The prospects are also good for the financial year 2010.
The complete Annual Report is available on-line from Thursday, 19th March 2009, approx. 6.00 p.m. CET - go to www.ivu.de.
end of announcement euro adhoc
Further inquiry note:
Renate Bader
Leiterin Unternehmenskommunikation
Telefon: +49(0)30 859 06 800
E-Mail: rba@ivu.de
Branche: Computing & Information Technology
ISIN: DE0007448508
WKN: 744850
Index: CDAX, Prime All Share, Technologie All Share
Börsen: Börse Frankfurt / regulated dealing/prime standard
Börse Berlin / free trade
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