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Hubwoo Announces 2009 Results



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Hubwoo Announces 2009 Outcomes

Procurement Options as-a-Service, Powered by SAP Computer software

Paris, France (Vocus) March 31, 2010

Hubwoo (Euronext: HBW.NX), the world’s top provider of on-demand procurement options for the SAP neighborhood, nowadays announced annual financial info for 2009.

Greg Mark, Hubwoo CEO commented: “Despite a challenging global economic setting we are pleased to report 9% development more than 2008 and a dramatic improvement on EBITDA. 2009 was a year in which we regained management of our expense base, efficiently recapitalized the firm and created key upgrades in each our infrastructure and options providing. We are now ready for even greater development in 2010 as the economy starts to display indicators of recovery.”

1. 2009 Important Final results:

Revenues

2009 revenue was €34.six million, up 9% as compared to 2008. Development was achieved from the recurring and highly predictable SaaS(**) component of income, which was up 15% compared to 2008.

2009 solutions revenue was down 9% from 2008, mostly due to a lower ratio of Services to SaaS in those contracts signed in 2009 and, as talked about in previous announcements, to the delay in signature of numerous other huge contracts.

The supplier income element within SaaS, which is strongly dependent on the worldwide economic system and buyers’ level of spending in goods and solutions, was down five% year over year, at €7.4 million.

Profitability

Following continued efforts in expense optimisation, restructuring of certain areas of the organization and reallocation of resources in these regions capable to deliver stronger growth and profitability, EBITDA in 2009 showed a dramatic improvement from negative -€4.6 million in 2008 to optimistic €2.7 million in 2009.

Estimates on EBITDA for Q1 2010 confirm a beneficial trend and the achievement of a sound and stable expense base on which Hubwoo can build for future growth.

Goodwill

In accordance with IFRS, a goodwill impairment check has been performed by analyzing the market and its development possible and by evaluating the company’s fair market value. Given that the fair worth is increased than the book worth, no goodwill depreciation has been accounted for.

Cashflow and balance sheet

In 2009, the company‘s operating cashflow was €1.1 million (against -€3 million in 2008). Total investments amounted to €1.7 million, encompassing network and infrastructure upgrades, the deployment of the new eAnalyze commit analysis solution, based mostly on SAP BusinessObjectsTM Invest Performance Management, and the initial phases of the SAP SRM 7. upgrade. With the capital boost of €4.6 million, Hubwoo completed the year with net cash of €3.five million (against €1.eight million in 2008)

2. 2009 main occasions:

New Buyer Clients

During the year, Hubwoo signed 32 new technology contracts with consumers. By the end of 2009, the total amount of purchaser technological innovation consumers amounted to 120, an improve of 36% for the duration of the year. Sales in 2009 had been evenly distributed across Hubwoo’s key regions of Southern Europe, Central Europe, the UK, and the Americas.

Gregory A. Mark appointed CEO and Chairman of the Board

Following Greg’s appointment as CEO on March 27th, 2009 he was also appointed as Chairman of the Board in Q4 2009. Greg joined Hubwoo in March 2006 as SVP North America Company Operations. He brings more than 25 years of management experience inside engineering-based mostly resolution businesses

and is a veteran of the internet based mostly source-to-spend space.

Capital Increase

On June 18th, 2009 Hubwoo launched a capital boost with maintained preferential rights of subscription for its shareholders. Ten (10) new shares have been offered for every thirty one (31) existing shares at a unit price tag of €0.20. The subscription approach for the capital enhance took spot amongst June 18th and July 1st, 2009 and resulted in a total demand of about €5.8M. This corresponded to a subscription rate of 145% as a result enabling the operation to be extended by 15% to €4.6M.

Broadening of Solution Offerings

Devote Evaluation: In 2009, Hubwoo started offering SAP’s BusinessObjects Spend Efficiency Management as-a-Service, plus information standardization and enrichment solutions.

Search Engine: Hubwoo released its up coming generation Search resolution. This multi-supplier catalog search remedy brings performance and flexibility to boost spend under management for all categories of devote which includes services.

Master Data Exchange (MDX): MDX furthers Hubwoo’s integration as-a-service capabilities to integrate master data in between customers’ heterogeneous on-premise enterprises systems and the Hubwoo on-demand supply to pay resolution suite. With these enhancements, revenues continue to be spread across a complete supply to spend organization footprint.

Supplier Network Growth

Supplier neighborhood volumes surpassed 70,000 active suppliers at the finish of 2009, up 75% more than 2008. Hosted catalogs improved 48% to above five,800. Vital mass in suppliers increases enterprise worth for purchaser customers, as effectively as gives a long term automobile for incremental network revenue streams.

IT Consolidation and Upgrades

In 2009, Hubwoo completed consolidation of three main worldwide information centers into one. Database upgrades, SAN upgrades, voice over IP upgrades, and MPLS upgrades had been effectively completed in parallel. The result of these efforts is important cost reduction, streamlined architecture, and a capability to scale the company with minimal added capital investments required.

Manila

Hubwoo opened a Branch Office in Manila, Philippines with now above 30 personnel to capitalize on large top quality and decrease cost capabilities for global consumer assistance, supplier enablement and improvement.

(*)EBITDA: Operating result ahead of depreciation and non recurring items.

(**) SaaS is a model of delivering technological innovation where a software program remedy is hosted ,on-demand, as a service for its clients. Clientele do not get the engineering but rather pay a subscription charge to use it.

About Hubwoo (http://www.hubwoo.com):

Hubwoo the world’s top provider of on-demand procurement options for the SAP community. The Company manages a organization-to-company community with above 150 main international corporations as its consumers (including 50 in the Global 1000) and more than 70,000 active suppliers. Important clients consist of Honeywell, Total, BASF, Evonik, EDF, Nokia, Michelin, Shell, Bayer, Henkel, Statoil, Hershey’s, Consol Power, EcoPetrol, Carl Zeiss, Burton’s Foods, The Dow Chemical Firm, ENI, and Graham Packaging. The Business has international offices in Europe, Americas and Asia and is a strategic partner of SAP and IBM.

Listed in Compartment C on the Euronext Paris Eurolist.

ISIN: FR0004052561, Euronext: HBW.NX, Google: HBW

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