Mamut increases profitability in first six months of 2009
(Oslo, 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.
Wins 2009 Worldwide Partner Award from Microsoft
In July, Mamut won the 2009 Microsoft Worldwide Partner Conference Awards with its Mamut One product in the Software-plus-Services category. Mamut was chosen as winner from a pool of total 2,000 entrants worldwide. Mamut One simplifies the use and management of software and services for small businesses by introducing increased functionality and high levels of accessibility. Mamut One is an all-inclusive business solution including software applications, web-based services and knowledge.
“The global award is a great achievement for Mamut and the extensive investments we’ve made in our Software + Services solutions over the last years. The award strengthens our position in all our core markets, including Germany and the UK. The resulting heightened awareness of Mamut gives us further opportunities to expand market share. It also provides an added boost to our strategic partnerships for the coming quarters,” says Hanoa.
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
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: email@example.com