|Strong results from IFS in the second quarter|
(7/21/2010 | News | Linköping)
EBIT increased 94% to 64 million SKr, license sales increased by 26%, currency adjusted, to SKr 103 million and cash flow after investments tripled to SKr 92 million. Focus on best-practice industry solutions for selected sectors continues to be successful for IFS. The closure of several important deals contributed to strong growth and with a healthy increase in pipeline the second quarter is setting IFS on the right track for reaching its growth targets.
Amongst the deals achieved in quarter two was a world leader in project management/engineering for the oil and gas industry. The company has selected IFS as its new global enterprise applications system to support its growth and streamline its corporate processes in more than 20 countries; the contract value is in the range of € 10–15 million.
─ IFS helps customers standardize their global processes through our component-based software that easily supports multiple sites, multiple languages, multiple currencies, and multiple sets of accounting rules. Our message of being the intelligent choice for customers seeking quicker and better return on investment is being increasingly picked up in the market, Alastair Sorbie, IFS CEO said.
For more information on important customer wins, listen to the quarterly presentation or download it from this page: http://www.ifsworld.com/investor_relations/default.asp
IFS continues to search for acquisition opportunities, and improved cash-flow and earnings are strong enablers for this going forward. The company has not acquired companies in the second quarter but expect to do so within the year.
The outlook for the full year remains unchanged. IFS expects moderate growth excluding the effects of acquisitions.
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