EBIT was MNOK 11,0 vs. MNOK 12,5 in Q3/04. This equals a revenue growth of 6,7%. The strongly improved position of NOK vs. other currencies has an effect on revenues measured in NOK. When applying the exchange rates of Q3/04 growth in revenues is 11,6%. Pre-tax profit was MNOK 11,9 (12,4). For the year to date, revenues ended at MNOK 183,3 compared to MNOK 162,5 in the same period last year. EBIT was MNOK 38,5, up from MNOK 35,8 in 2004. This equals a revenue growth of 12,8%. When applying the exchange rates of YTD 2004 growth in revenues is 16,3%. EBIT showed an improvement of 7,5% compared to 2004. Pre-tax profit was MNOK 43,3 (36,2).
Comments to the operation
The quarter is strongly influenced by the summer holiday period. Revenues in July and August were relatively low, but September showed a positive development. The company continues to show double digit growth in license revenues.
During 2005 the company has worked intensively on activities which will set the foundation for further growth in 2006 and 2007. Below is a summary of the main activities in this process.
Partner program
During the quarter the company has continued working on the development of a new partner concept which mainly will be used to establish partnerships with larger system integrators in all markets. During the period, the company has entered into several new partner agreements. This process will continue in the coming quarters, where the goal is to increase the share of services within integration, customization and implementation of larger projects to be done by partners.
New products
The company has – according to plan – completed the development of the new solutions SuperOffice SIX (the new version of the company’s main product) and SuperOffice SAINT – a new sales intelligence solution module which is seamlessly integrated with SuperOffice SIX. Both products will be introduced in all markets on October 15. The new solutions will strengthen the company’s product portfolio and will provide new opportunities related to both end customers and partners.
Together with the introduction of SuperOffice SIX, the new CRM platform will also be introduced in the market. The new CRM platform opens new opportunities within customization and integration to other systems and customer specific business processes.
The company will also launch a new e-learning solution, a result of a co-operation with the Norwegian company DataPower. This co-operation represents an e-learning product which will be offered both to new and existing customers who starts using SuperOffice SIX.
New managers in Norway and Denmark
The company’s new managers in Norway and Denmark have established their positions and activity levels related to generating revenue growth are high. New employees will be recruited in both sales organizations.
Improved sales model – SuperOffice Selling Method
Earlier this year, Michael Ærø was hired as Business Development Director of SuperOffice ASA. One of his main tasks has been to develop and implement an improved sales model – called SuperOffice Selling Method. The improved sales model is part of the company’s organization development program and is adapted to increased market demand for integrated solutions and the positioning of CRM solutions as a key element of a most businesses’ company’s business critical systems. The goal of SuperOffice Selling Method is to strengthen the competencies and increase efficiency in the company’s sales organization.
Future expectations
During Q4/05 the company will introduce two new products – SuperOffice SIX and SuperOffice SAINT – and the new CRM platform for a more effective handling of integration and customization projects. The company expects that this will improve the market position of the SuperOffice product portfolio, especially targeted towards medium-sized and large companies. The new solutions also include capabilities which represent interesting business opportunities for partners.
The company believes the CRM market will show a positive development in 2005. In the time to come the company will remain focused on increasing license revenues as well as on establishing new system integrator partnerships in all markets.
The company’s goal is to continue the positive development.
The quarterly financial statement is presented according to IFRS.
The Board of Directors of SuperOffice ASA
Oslo, October 13th 2005