February 23, 2010 08:00 ET

UNIT4 Reports Successful Year With Strong Final Quarter

11% Revenue Growth in North America

SLIEDRECHT, NETHERLANDS--(Marketwire - February 23, 2010) -  UNIT4, the global business software company with North America subsidiaries including UNIT4 Agresso and UNIT4 CODA, today announced its annual results for 2009, citing 11% revenue growth in North America and a successful year despite difficult market conditions.

Group highlights:

Q4 2009

  • Revenue declined by 5% to approx. $139.2 million* (EUR 102.2 million) (Q4 2008: EUR 107.6 million)
  • EBITDA rose by 19% to approx. $37.3 million (EUR 27.4 million) (Q4 2008: EUR 23.0 million)
  • The EBITDA margin climbed to a level of 26.8% (Q4 2008: 21.4%)
  • License revenue returned to growth in December (+10% compared with December 2008)

Full year 2009

  • Total 2009 revenues declined by 4% to approx. $517.1 million (EUR 379.4 million) (2008: EUR 393.6 million)
  • Including restructuring costs, EBITDA rose by 7% to an amount of approx. $102.3 million (EUR 75.1 million) (2008: EUR 70.1 million)
  • The EBITDA margin grew to a level of 19.8% (2008: 17.8%)
  • Without restructuring costs, EBITDA rose by 12% to approx. $110.0 million (EUR 80.7 million) (2008: EUR 72.0 million)
  • Without restructuring costs, the EBITDA margin climbed to 21.3% (2008: 18.3%)
  • Net profit attributable to shareholders of UNIT4 improved by 58% to approx. $26.4 million (EUR 19.4 million) (2008: EUR 12.3 million)
  • Earnings per share (before goodwill related items) rose by 15% to approx. $1.80 (EUR 1.33)
  • Strongly improved (operational) cash flow through working capital management to approx. $93.9 million (EUR 68.9 million) (2008: EUR 56.2 million)

The UNIT4 group witnessed a strong order intake in the final quarter of 2009 including large customer orders in Germany, UK and North America. With offices on the west and east coasts, and a software solution portfolio including both Agresso Business World and CODA products, a number of significant orders were won in North America in 2009 including King County Housing Authority, the Louisiana Supreme Court, International AIDS Vaccine Initiative (IAVI), Consolidated Chassis Management LLC, LIN Television Corporation, Yancey Bros Co. and Thompson Tractor. In December, Agresso announced an agreement to provide Harvard Law School with Agresso Education.

From a Group perspective, the weak global economic climate principally affected income from licenses. Purchasing decisions took longer or were postponed due to less willingness and reduced resources to invest. Nevertheless, many organizations acknowledged the benefits of efficient business software that is adaptable to a changing business environment.

The formation in September 2009 of, the online accounting solution built natively on the cloud computing platform from, was an important initiative for the Group. Its head office has been located in San Mateo, California and further investment in sales and marketing is expected.

UNIT4 improved efficiency across the organization by focusing on cash management through the control of working capital. "Our relatively flexible cost structure has enabled us to demonstrate our decisiveness and agility in challenging economic circumstances," said UNIT4 CFO Edwin Van Leeuwen. "A key focus for us last year -- in addition to continuing to provide guidance and assistance to our clients -- was cash generation. We see opportunities again in 2010 for acquisitions. Our principal focus in this area will be on growth markets and synergistic functionalities. The economic conditions still make it difficult to make predictions about market demand for 2010. We see certain geographies and sectors gradually improving, but we also remain cautious about government spending. Around 20% of our license revenue is currently derived from (local and regional) public authorities."

"With our current cost structure, the whole organization is in better shape than ever. We expect to see license revenue increase again in 2010," added Mr. Van Leeuwen.

For a full copy of the 2009 press release, please visit:

* Exchange rates correct as of 2-18-2010 based on 1 EUR = 1.36283 USD

UNIT4 is a global business software company that creates, delivers and supports adaptable business software and services globally to help dynamic organizations manage their business needs effectively. We aspire to set the global standard for business software that helps dynamic organizations to embrace change simply, quickly and cost effectively. We have a broad portfolio of solutions that address different markets, requirements, technologies and types of organizations. The company is a top-six mid-market ERP software player globally and the second-largest European ERP supplier.

With offices in 13 European countries, as well 6 countries across North America, Asia Pacific and Africa and sales activities in several other countries, a revenue of EUR 379.4 million was realized in 2009. UNIT4 is headquartered in Sliedrecht, the Netherlands. The company has 3,456 employees (December 31, 2009).

The Group incorporates a number of the world's leading change embracing software brands including Agresso Business World and CODA Financials management software.

For services intensive organizations, the Agresso Business World ERP suite is widely acknowledged as the business software solution that delivers the lowest Total Cost of Change. This is achieved thanks to its VITA™ architecture which allows for ongoing, post-implementation changes without the typical external IT costs and services that can cost firms huge sums of money each year.

CODA Financials is our award-winning suite of best-of-class financial management software designed to integrate with your industry- and company-specific applications. CODA's LINK™ architecture sets it apart from ordinary accounting systems by providing a financial information backbone for companies with fast-changing and mixed application environments. It is a global accounting solution for mid-to-large-sized organizations, offering a "no compromise" approach to financial modeling, process control and application choice.

Contact Information

  • For more information, please visit:, or call:

    UNIT4 Agresso corporate contact:
    JoAnn Marlow
    Director of Marketing
    Phone: (250) 704-4489
    Cell: (250) 415-7510
    Email:Email Contact

    UNIT4 CODA corporate contact:
    Sherri Gray
    Marketing Manager
    Phone: (603) 471-1787
    Cell: (603) 591-6600
    Email:Email Contact