(Oslo, 29 August 2000). Mamut’s strong growth is continuing. Revenue from the first six months reached MNOK 33 compared to MNOK 25 during the same period last year. This constitutes 32 percent growth. Revenue from the company’s mini-ERP and e-commerce solutions increased by a total of 65 percent in the second quarter, and by 48 percent during the first half of 2000.
– We are very satisfied with the strong growth in licence sales. We are expecting to see a continued strong growth during the next six months, says Eilert Hanoa, Mamut’s Chief Executive Officer.
Strong revenue growth
During the first half of 2000, the company’s revenue increased by 32 percent compared to the same period last year, and the sale of mini-ERP and e-commerce solutions increased by a total of 48 percent. Sales of new licences amounted to nearly 50 percent of the revenue. The company has invested over MNOK 18.1 in the development and marketing of Mamut during the first half of the year, which contributed to a total operating loss of MNOK 9.9. This is in line with the company’s plans, and the company has a solid equity capital base with a cash balance of MNOK 41 as of 30.06.00.
42 % growth in second quarter
The revenue for the second quarter was MNOK 15.7 compared to MNOK 11 in the second quarter of 1999. This represents a 42 percent growth compared to a 31 percent growth in the first quarter. Sales of mini-ERP and e-commerce solutions increased by a total of 65 percent in the second quarter. The company is well equipped for continued growth and has recently entered into agreements with several national and international companies, such as Nameplanet.com, as well as extending its existing agreements.
Mamut eCRM
During the autumn, the new product, Mamut eCRM, will be launched at a very competitive price. Mamut eCRM will combine the best of customer/sales management and e-commerce applications from Mamut, and is a complete solution for small and medium-sized businesses. During the first half of 2000, Mamut also entered into agreements with a number of ASP providers. Several customers have chosen to run their mini-ERP solutions through an ASP provider during the second quarter.
|
PROFIT AND LOSS STATEMENT |
2nd Quarter |
|
Year to date |
|
Total |
|
(NOK 1.000) |
2000 |
1999 |
|
2000 |
1999 |
|
1999 |
|
|
|
Pro forma |
|
|
Pro forma |
|
Pro forma |
|
Operating revenues |
15 736 |
11 066 |
42 % |
33 248 |
25 099 |
32 % |
49 780 |
|
Cost of goods |
1 452 |
921 |
|
3 680 |
2 544 |
|
6 165 |
|
Personell costs |
11 765 |
7 802 |
|
23 144 |
15 282 |
|
33 310 |
|
Other operating costs |
8 097 |
3 162 |
|
14 077 |
6 197 |
|
18 806 |
|
Total operating costs |
21 314 |
11 885 |
|
40 902 |
24 023 |
|
58 281 |
|
Operating profit (loss) before depreciation (EBITDA) |
(5 578) |
(820) |
|
(7 654) |
1 076 |
|
(8 501) |
|
Depreciation intangible assets |
474 |
– |
|
948 |
– |
|
– |
|
Depreciation other fixed assets |
785 |
364 |
|
1 368 |
666 |
|
1 555 |
|
Operating profit (loss) |
(6 837) |
(1 184) |
|
(9 969) |
410 |
|
(10 056) |
|
Fiancial profit (loss) |
750 |
35 |
|
1 400 |
85 |
|
258 |
|
Proft (loss) before tax |
(6 087) |
(1 149) |
|
(8 569) |
495 |
|
(9 798) |
About Mamut
Mamut is a leading provider of complete information and e-commerce software for small and medium-sized businesses. Mamut offers comprehensive web solutions as well as mini-ERP applications and software for personal finance and tax management at the lowest prices available. More than 50.000 customers are daily users of software products from Mamut, and one-third of these are to be found outside of Norway. The company has received numerous awards for its product range. Mamut has 120 employees and subsidiaries worldwide. Further information about Mamut and the company’s products can be found at www.mamut.com.
For more information, please contact:
Eilert Hanoa, CEO, telephone: + 47 23 20 35 00 or email: press@mamut.com
