The last quarter was a great success for SuperOffice ASA. The company reached total revenues of MNOK 57,9 (38,4) and a strong EBIT of MNOK 15,4 (-17,4). This equals a revenue growth of 50,7% and an improvement in EBIT of MNOK 32,8 compared 2002.
Also the year in total ended well, the best in the history of the company, with total revenues of MNOK 198,7 (170,6), representing a growth of 16,5% compared to last year. The EBIT for the year was MNOK 33,2 (-26,1), equal to an EBIT improvement of MNOK 59,3 compared to 2002.
The company’s equity is MNOK 75,7. The cash balance is MNOK 43,3.
Comments to the operation
The company is satisfied with the development in Q4/03. All subsidiaries show a solid growth both in total revenues as well as in license revenues compared to the same period in 2002. At the same time, the company continues to improve its position among larger organizations, illustrated by winning several large contracts in Q4/03.
Future expectations
During 4 quarters in a row SuperOffice has shown a strong improvement in profitability. The expectations for 2004 are positive even though the company considers the improvement in the market conditions to be moderate. In the coming year the company will continue to work on the foundation which is built in 2003, with focus on growth in revenues as well as in profit.
The quarterly financial statement is presented according to NRS 11. The same principles as in the annual financial statement are used in the quarterly report.
Click here to download the Q4/03 financial statement.