Further growth over the first half of 2011
Paris, July 28, 2011 – StreamWIDE (FR0010528059 – ALSTW), the specialist in next generation, value-added telephony solutions for telecom carriers, announces a 4% increase in revenue compared to the first half of 2010. Revenue thus totalled €5.3M and breaks down as follows:
The Group’s revenue increased by €0.2M over the first half of 2011, with an improvement for all of the Group’s key revenue segments. Only third-party sales decreased, essentially because of a negative base effect in the first half of 2010 (volumes that were significant but non-recurrent by their very nature).
Excluding third-party sales, Group revenue was up €0.7M over the period, giving growth of 16% compared to the first half of 2010 and growth of 18% at constant forex (USD/EUR).
“License” and “Maintenance” revenue (recurrent by their very nature) together rose by 11.3%, driven by the development of installed bases and major orders from French clients. Overall revenue from France thus increased by 28% (+€0.5M).
Reflecting the Group’s buoyant sales momentum, the number of clients increased from 53 to 72 over the last 12 months.
“Export” revenue decreased by 11% (-8% at constant forex) and represented 53% of StreamWIDE’s total revenue. This decrease was essentially the result of a calendar effect, as the Group recorded a major license Export order on June 30 2010, compared to this year when a major order should only be recorded during the second half of the year. Furthermore, over the first half of 2011 the Group had to cope with a difficult local context, notably in North Africa and the Middle East, which resulted in project delays.
Lastly, “Services” recorded revenue of €0.7M over the period, which mainly came from system setups and updating operations on some installed bases.
Visibility in terms of orders is better for the latter half of 2011 than it was for the first half. Nevertheless, despite a positive trend for annual revenue, the Group, which is still confident that it will meet its targets, remains cautious. The innovation strategies it has developed should enable StreamWIDE to continue forming new partnerships and to benefit from major sales opportunities, both directly and indirectly.
Results and financial situation
The Group’s financial situation remains healthy, with sizeable shareholders’ equity, a cash surplus and no financial debt as of June 30, 2011.
The Group’s half-year results should be in line with its expectations and with those recorded over the first half of 2010, with similar revenue. Substantial revenue growth over the second half of 2011 should lead to a significant increase in annual operating profit.
Pascal Béglin / Olivier Truelle
CEO / CFO
Tel: +33 (0)1 70 08 51 00