Hubwoo :Financial information for H1 2017
Source: Nasdaq GlobeNewswire / 28 Sep 2017 12:30:38 Eastern Standard Time
Hubwoo Announces Financial Information for H1 2017
- Revenue down 16% as compared to H1 2016
- Ebitda (*) down, at €M 1.4 from €M 2.5 in H1 2016
Paris - September 28th, 2017 - Hubwoo (Euronext: HBW.NX), a leading provider of comprehensive spend management and business process collaboration solutions, today announced financial information for H1 2017, in accordance with the "European Transparency Obligations Directive" financial disclosure requirements.
€ Million 2016 H1 2016 H1 2017 Variation in % (***)
H1 2017 vs H1 2016
Revenue 20,6 11,0 9,3 -16% EBITDA (*) 4,7 2,5 1,4 -43% EBIT (**) 1,5 0,6 0,5 Net Earnings 1,2 0,5 0,4 Operating Cashflow -0,6 -0,5 0,3 Cash 4,1 4,8 3,8 -22% (*) EBITDA: Operating result before depreciation and non-recurring items. (**) EBIT: Operating result after depreciation and non-recurring items. (***) Percentage are calculated on exact numbers, not the rounded numbers shown.
Accounts for 1st half 2017 have been reviewed by auditors and were approved by the Hubwoo Board of Directors on September 25, 2017.
H1 2017 revenue was €M 9,3 lower (-16%) than H1 2016, as previously communicated in July.
The decrease in operational costs by €M 0.6 didn't entirely compensate the decline on revenues by €M 1.7 and therefore the EBITDA (*) line, at €M 1.4 shows a decrease versus H1 2016.
The EBIT (**) line remained stable compared to H1 2016, at €M 0.5. Net earnings are positive, at €M 0.4.
On June 30, 2017 cash position was of €M 3.8, €M 0.3 lower than position recorded on December 31, 2016.
About Hubwoo (www.hubwoo.com), a Perfect Commerce Company
Hubwoo connects companies by providing comprehensive, cloud-based spend management and collaborative business process automation solutions for both goods and services, through The Business Network. Our solutions integrate with any ERP or procurement system, providing our customers with an easy to use solution which drives adoption, compliance and savings.
Significant customers include BASF, Honeywell, Shell, Evonik, Nationwide, Michelin, Henkel, Statoil, CONSOL Energy, and The Dow Chemical Company.
Hubwoo has major operations in Paris, Houston, Bonn, London, and Manilla. Listed in Compartment C on the Euronext Paris Eurolist.
ISIN: FR0004052561, Euronext: HBW, Reuters: HBWO.PA, Bloomberg: HBW:FP
Tel: +33 (0)1 53 25 55 00
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Source: Hubwoo via Globenewswire