Tie Holding, maker van bedrijfssoftware, heeft zijn winst in het boekjaar 2005/06 verdrievoudigd tot EUR 1,053 miljoen. De omzet nam met 18% toe tot EUR 8,5 miljoen. Dat maakte de onderneming woensdag nabeurs in een persbericht bekend.
'Wij zijn verheugd over de aanhoudende winstgroei van de onderneming en onze verwachting voor 2007 is positief', aldus bestursvoorzitter Dick Raman in het persbericht. Een concrete winstverwachting voor volgend jaar werd niet afgegeven.
Tie zag de winst in het vierde kwartaal van zijn gebroken boekjaar uitkomen op EUR 1,32 miljoen. Een kwartaal daarvoor bedroeg de winst nog EUR 151.000. Het laatste kwartaal van vorig jaar moest Tie nog een verlies incasseren van EUR 115.000.
Het bedrijf maakte verder bekend dat Chris van Overbeeke aantreedt als financieel directeur.
Tie, results
B2B Integration software company TIE Holding N.V. ("TIE") listed on the EuroNext Amsterdam Stock Exchange hereby announces its preliminary results for the financial year 2006 (October 1, 2005 – September 30, 2006). Net income for the year amounted to EUR 1,053,000 compared to the EUR 327,000 for 2005. Revenue for the year increased 8% for the full year as compared to 2005 and 18% for the fourth quarter.
The revenue for the year was EUR 8.5m compared to the EUR 7.8m reported last year. Revenue in the fourth quarter was EUR 2.4m as compared to EUR 1.9m in the previous quarter and EUR 2.0m in the same quarter last year. The net profit for the quarter amounted to EUR 1,320k, a substantial improvement on the net profit of EUR 151k in the previous quarter as well as the loss of EUR 115k for the fourth quarter of 2005. This was mainly caused by a deferred tax asset that was recapitalized according to IFRS rules and based on the positive outlook for TIE Commerce Inc, TIE’s US subsidiary.
TIE is benefiting from two positive trends in the market. First, software is more and more often being sold as a service. And second, companies are increasingly outsourcing their XML/EDI activities. TIE has established a specialized hosting and outsourcing service, both in The Netherlands and in the USA, through which customers can entrust TIE to manage their business-critical B2B exchanges. This new service has demonstrated significant acceptance among customers. After partly off-shoring the labor component, this will be a high-margin activity for TIE.
TIE has been very proactive and thus able to generate substantial revenue from Software as a Service (SaaS). The Company expects sales of SaaS to develop in a promising fashion. In addition, the acquisition of Digital Channel contributed EUR 250k of revenue to its segment during the fourth quarter. Financial year 2007 will see the introduction of the Digital Channel service to the U.S. market, which holds even more promise. The combined offering of Digital Channel and XML/EDI products has already yielded a number of important successes. The indirect sales channel is expected to contribute substantially to the revenue of TIE. The main driver here is our reseller Epicor, whose contribution increases quarter over quarter and that already contributed significantly in the last year.
The outlook for the Company in 2007 remains positive. Management has put a lot of emphasis on sales and marketing and the results are already visible. Much of this success is attributable to the addition of Digital Channel and the appointment of Jan Sundelin as Managing Director for TIE Nederland. That is why the Board of Supervisors is nominating Jan Sundelin to the Board of Management as Chief Sales Officer, with global responsibility for Sales & Marketing. At the next Annual Shareholders Meeting on February 14, 2007, the shareholders will be proposed to appoint him. For TIE it means that the year 2007 will be focused on growing the Company both through increased sales as well as through strategic acquisitions that are earnings accretive. Jan Sundelin will be focusing on the European operations of TIE, while Dick Raman, the CEO of TIE, has relocated to the US, directing the efforts of TIE in this important market.
Additionally the Company is pleased to announce that drs Chris van Overbeeke RA has been engaged as Chief Financial Officer for the Company. His areas of responsibility are financial reporting, finance and business development. He has been working for the Company since the beginning of the year as an independent IFRS consultant to prepare the Move to IFRS.
Dick Raman, CEO of TIE comments: “We are very pleased to see the Company’s continued growth in profitability and our outlook for 2007 is positive. Our ability to provide our customers with Software as a Service and the increased demand that we are seeing from companies that do business on the Internet, offer many opportunities for TIE to provide the link for these companies into the traditional supply chains.”
Quarterly reports previously issued for the year 2006, including comparative figures for 2005, have been prepared on a preliminary interpretation of IFRS. As the IFRS conversion project nears completion and the Company prepares to publish its first Financial Statements under IFRS, the Company has amended its accounting policies and practices to an IFRS basis that management believes will be applied in the 2006 Financial Statements to be published in January 2007. The changes made are discussed in the Notes to the Condensed Consolidated Financial Information, which can be found on the corporate web site http://wwwTIEglobal.com. A comprehensive disclosure of the changes made will be included in the 2006 Financial Statements. Further adjustment may be required as the IFRS conversion project and the audit thereof is completed.
