ODESIA Group Inc.

ODESIA Group Inc.

May 01, 2007 08:00 ET

Odesia's 2006 Revenues Increase by 57%

MONTREAL, QUEBEC--(CCNMatthews - May 1, 2007) - Odesia Group Inc. ("ODESIA") (TSX VENTURE:ODS) is pleased to announce year-over-year growth in revenues of 57% in 2006 compared to the 12-month period ending May 31 2005.

"We achieved a record year in 2006, having served more than 20 organizations of international calibre in Canada and in Europe. By year-end 2006, we had doubled the number of professional consultants working for ODESIA to 85," said Mr. Nicolas Bonnafous, President and Chief Executive Officer of ODESIA.

Following the acquisition in March 2006 of what is now ODESIA's French subsidiary, Odesia Europe SAS, headquartered in Paris, the Company's financial results showed robust growth. Clients such as Canal + in France and SITA in Switzerland were among the first to show their confidence in ODESIA in Europe. In Canada, ODESIA continues to serve Yellow Pages, Aeroplan and National Bank amongst its main clients.

Key financial facts for 2006 and the Company's outlook:

- A 57% growth in revenues to $7,999,764, from $5,089,328 during the 12-month period ending May 31, 2005.

- The rapid development of the Paris office, getting our new organization under way, and costs related to our first year as a publicly listed company incurred major expenses. Therefore, costs of supplying services, operating and administrative expenses amounted to $7,793,528 in 2006 compared to $4,653,759 for the 12-month period ended 31 May 2005.

- A net profit of $80,763 was reported for 2006, compared to a net profit of $219,656 for the 12-month period ended 31 May 2005. Although the net profit decreased year-over-year, it is clear that the Company experienced strong organic growth during 2006 and that this should be reflected in increased net profits in 2007.

ODESIA foresees continued strong growth in 2007, given the Company's ability to export its expertise and establish branches in untapped markets. The Company is currently signing new clients in Canada and Europe, while expanding its full-time staff of professionals. The ODESIA team's experience and skills in designing Business Intelligence solutions directly contribute to the decision-making and strategic vision of the large and medium-sized companies that comprise Odesia's clientele.

The Company's audited financial statements may be read in their entirety at SEDAR (www.sedar.com), as well as on the Company's own web site at www.odesia.com.


ODESIA Group is a Canadian-based international corporation specialized in BI solutions, decision processes and data warehousing for large corporations. The management team at Odesia has extensive knowledge and experience in leading the execution of BI processes in large enterprises. The team of 85 professionals offers a level of experience and services uncommon for smaller providers, supported by diverse partnerships with BI service providers. The Company's goal is to offer customers a complete and state-of-the-art solution, no matter the technical challenge. For more information see www.odesia.com

This release may contain forward-looking statements. Various factors could cause actual results to differ materially from those projected in forward-looking statements. Although the Company believes that the forward-looking statements contained herein are reasonable, it can give no assurance that the Company's expectations are correct. All forward-looking statements are expressly qualified in their entirety by this cautionary statement.

The TSX Venture Exchange Inc. does not accept responsibility for the adequacy or accuracy of this release and has neither approved nor disapproved of the information contained herein

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