Hubwoo announces Q1 2013 Revenues
PARIS, April 30, 2013 /PRNewswire/ — Hubwoo SA (Euronext: HBW.NX), a leading collaborative business network provider, today announced financial information for Q1 2013, in accordance with the “European Transparency Obligations Directive” financial disclosure requirements.
Greg Mark, Hubwoo Chairman & CEO, commented, “Hubwoo continues to innovate on the infrastructure of our future, The Business Network. We are progressing well on the technology, demand generation, and partnership aspects of this transformation while at the same time helping our customers leverage their investment in our cloud applications through continued adoption and increased spend under management and invoice automation.”
1. Q1 2013 Revenues
in EUR million Q1 2012 Q1 2013 % Q1 Change 2013 / 2012* ------- ------- ------------------- Consolidated Revenue 8.7 7.5 -14% -------------------- --- --- --- SaaS ** 6.9 6.4 -8% ------ --- --- --- Services 1.8 1.1 -39% -------- --- --- --- (Q1 2013 Figures Unaudited) (*) 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.
As the company continued transitioning into its new business model, revenues compared to Q1 2012 showed a decline. Note, however, that the Q1 2012 comparison was before major competitive consolidation announced in our industry in Q2 2012.
This picture is mitigated with a comparison to Q4 2012, when the level of SaaS, excluding positive one-offs and year-end adjustments related to customer spend, had already reached current level. As stated in previous communications, the level of services revenue has also dropped to a lower level than prior to those competitive market consolidations. While the revenue figure of Q1 2013 shows a comparative decrease, the Company expects improvement in the next quarter.
Revenue from net new customers has been low during this transformative phase, but the Company continues to experience a solid level of enhancement and growth from the existing customer base.
2. Q1 2013 major events:
Microsoft alliance agreement
On March 19, 2013, Hubwoo announced that it has teamed up with Microsoft Corporation to help tens of thousands of Microsoft ERP customers with a step change in spend compliance and accounts payable automation. Through the global alliance, the two companies will integrate and jointly market The Business Network for Microsoft Dynamics®, enabling businesses using Microsoft Dynamics AX with direct access to The Business Network by Hubwoo.
About Hubwoo (www.hubwoo.com)
Hubwoo is the world’s leading collaborative business network provider, connecting companies to enable more productive B2B commerce. Through The Business Network, Hubwoo’s open and collaborative business hub, Hubwoo makes it easier for companies to search, connect and collaborate. The Business Network drives value for organizations by connecting them to over one million active businesses around the globe. With Hubwoo, buyers can source smarter, buy smarter and pay smarter. Sellers can market smarter, sell smarter and invoice smarter. Significant customers include BASF, Honeywell, Shell, Evonik, EDF, Nokia, Monsanto, Nationwide, Michelin, Henkel, Statoil, CONSOL Energy, EcoPetrol, Campbell’s, Burton’s Foods, and The Dow Chemical Company. Hubwoo’s global partnerships include Microsoft, IBM, and Dun & Bradstreet.
Hubwoo has major operations in Paris, Houston, Chicago, Bonn, London, Manila, and Leuven. Listed in Compartment C on the Euronext Paris Eurolist.
ISIN: FR0004052561, Euronext: HBW, Reuters: HBWO.PA, Bloomberg: HBW:FP
SOURCE Hubwoo SA