Mamut increases profitability in first six months of 2009 | (27 August 2009) Mamut reached operating revenues of MNOK 251.4 in 1H09. The company reached EBITDA of MNOK 51.2 and EBIT of MNOK 20.8, an EBIT improvement of 11 per cent compared with the same period in 2008. |
“Mamut has increased its profitability by streamlining its operations. The company has initiated and carried out a number of measures that will have positive effect in the last half of 2009 and throughout the coming years. Combined with our ongoing ambition of offering increased value and benefit to all our customers, we are well positioned for further profitability and growth in coming quarters,” says Eilert Hanoa, CEO at Mamut.
Second quarter 2009
The Mamut Group reached operating revenues of MNOK 121.6 in 2Q09 compared to MNOK 123.5 in 2Q08. Operating profit before depreciation (EBITDA) for 2Q09 was MNOK 24.9, compared to MNOK 23.2 in 2Q08. EBIT for 2Q09 was MNOK 9.6, compared to MNOK 9.0 in 2Q08. The company had 490 employees and MNOK 41.5 in cash and cash equivalents at the end of 2Q09.
Irish Mamut One Launch
In July, Mamut launched Mamut One, a powerful office solution which brings together business software with web-based services. Mamut One was designed in response to SMEs demands for a complete office solution with capabilities including accounting, finance, CRM, sales force automation, logistics, HR, and e-commerce. It provides all users with the right information on the right device, anywhere, at any time, without any additional investments in infrastructure – making it ideal for accountants, mobile workers and those “on the road”. “Since the launch of Mamut One there has been a lot of interest from a variety of sectors. We have made extensive investments to offer Mamut One, which combines the power and advantages of business software applications together with web-based solutions. Mamut One will better serve our customers by providing a feature rich, seamless solution that can be fully integrated and available online anywhere.” says Luke Buckley, Country Manager for Mamut Ireland.
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 from companies whom Mamut has previously acquired.
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.ie
For more information, please contact:
Luke Buckley, Irish Country Manager, Tel: +353 (0)1 486 0857; Mob: +353 (0)87 9367850 e-mail: lukeb@mamut.com
Caitriona Maguire, Hill and Knowlton Ireland, Tel; + 353 (0)1 662 6930 e-mail: cmaguire@hillandknowlton.com
Eilert Hanoa, CEO, Tel. +47 23 20 35 00, e-mail: ehanoa@mamut.com |
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