Despite regional weakness, UNIT4 managed to show a respectable improvemment in overall top line license sales for the first half of 2012 with subscription and SaaS based revenue showing the greatest improvement.
- Total revenue increased by 4% to €230.8 million (H1 2011: €222.0 million)
- Product (license) sales increased 5% to €36.0 million (H1 2011: €34.3 million)
- Recurring revenue (contracts SaaS / subscriptions) increased by 8.3% to €118.2 million (H1 2011: €109.1 million)
- SaaS / subscription revenues grew 20.1% from €18.9 million to €22.7 million
- Services and other revenues decreased by 2.5% to €76.6 million (H1 2011: €78.6 million)
- Cloud applications specialist FinancialForce.com grew strongly with monthly revenue run rate up more than 100% (compared with June 2011)
The more interesting detail comes from the regional breakdown (see image below)
With the exception of Germany which was flat, Eurozone results reflect general economic conditions. Its heavy reliance upon the Benelux masks better growth in non-Eurozone territories. The UK outcome was a surprise which reflects the company’s aggressive positioning as a cost cutting provider to local and central government organisations.
FinancialForce.com, which is part owned by Salesforce.com showed a strong result:
The strong growth experienced by FinancialForce.com in 2011 has accelerated in the first half of
2012. The monthly revenue run rate in June 2012 grew over 100% compared to June
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