| - Acquisitions and Software+Services offering provides platform for further growth in 2H08 | Mamut Experiences 54th Consecutive Quarter of Double Digit Growth and Strongest Six Months on Record | (Oslo, 28 August 2008) Mamut continues its growth and reached operating revenues of MNOK 251.6 in 1H08, compared to MNOK 221.9 in 1H07, a growth representing 13 per cent. The company reaches EBITDA of MNOK 46.6 and EBIT of MNOK 18.6 for 1H08, an EBIT improvement of 55% compared with 1H07. |
“Mamut has carried out several processes during the quarter, including the acquisitions of MYOB Business Division in the UK and KlubbenOnline in Norway, in addition to signing an agreement with Germany's leading supplier of small business software, Lexware, with more than 600.000 customers. These projects will be integrated into the Mamut Business Platform, the company’s Software + Services strategy,” says Eilert Hanoa, CEO at Mamut.
Second quarter 2008
The Mamut Group increased its operating revenues to MNOK 123.5 in 2Q08 compared to MNOK 108.6 in 2Q07, a growth representing 14 per cent. Operating profit before depreciation (EBITDA) for 2Q08 was MNOK 23.3, compared to MNOK 17.5 in 2Q07. EBIT for 2Q08 was MNOK 9.0, compared to MNOK 5.1 in 2Q07. The company had 480 employees and MNOK 58.0 in cash and cash equivalents at the end of 2Q08.
Second quarter 2008 is the 54th consecutive quarter with double digit percentage growth for Mamut. Mamut has increased its activity level in all markets with increased sales of software and services to new and existing customers. In addition Mamut has combined the introduction of several new products and services, strengthening the company’s position for future growth and profitability. Mamut has added over 40,000 new customers in 2Q08, exceeding 400,000 customers in total.
“Based on our scalable business model, we have achieved increased profitability in all regions. Our focus in the coming quarters is sustainable growth and profitability, mainly based on the launch of Mamut One in the company’s core markets and the considerable potential for cross-sales to existing customers. We are excited at the company’s prospects for growth in coming quarters,” says Hanoa.
Positive Outlook
Mamut is well positioned for further growth and improved results in all markets. The company continues to maintain its focus on establishing and strengthening strategic alliances with international partners and increasing the distribution of Mamut’s products and services. The company sees considerable growth potential following the launch of Mamut One in combination with existing customer bases in acquired companies.
Quarterly report (.pdf) and presentation (.pdf), also see www.mamutinvestor.com
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About Mamut
Founded in 1994, Mamut (OSE “MAMUT”) is a leading European provider of complete, integrated software solutions and internet services for SMEs. Mamut offers complete and user-friendly solutions at the best value for money integrating CRM, sales force, logistics, accounting, e-commerce, domains, e-mail, web hosting and security. More than 400,000 European customers simplify their daily business with solutions from Mamut. Further information about Mamut and the company’s products can be found at www.mamut.com
For more information, please contact:
Eilert Hanoa, CEO, Tel. +47 23 20 35 00, e-mail: ehanoa@mamut.com |
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