In 2000 the revenue increased to MNOK 57.7 from MNOK 45.5 in 1999. The sale of Mamut software increased by 44 percent, and new license sales represented 50 percent of the total revenue. The operating margin for the Norwegian operation was more than 10 percent.
International focus
During the year the company has invested extensively in the internationalization of both product range and organization, which has given a total operating result of MNOK -34.3 and a result after tax of MNOK -11.5. This is in line with the company’s strategy. The investment rate was approx MNOK 3.0 per month at the end of 2000. All R&D costs are charged as expenses.
“We expect higher growth, both in revenue and result for 2001, and we are well positioned for further expansion”, says Eilert Hanoa, Mamut’s CEO. Mamut will continue to offer complete solutions to small and mid-sized companies at the best price/performance. Today over 9,000 businesses are using accounting, CRM and e-commerce solutions from Mamut.
During 2000 Mamut signed a number of important partnership agreements with, among others, Cisco, Compaq, Microsoft, Symantec, Verio and WorldPay. Mamut’s products have received a number of awards and Mamut was recently chosen as the e-commerce solution provider for Compaq’s new B2B portal in Germany, theSource.
About Mamut
Mamut is a leading provider of complete information, CRM and Internet solutions for small businesses. Mamut offers complete solutions at the best price/performance. More than 60,000 customers use Mamut software. The company has received numerous awards for its product range and is represented all over Europe.
For further information, please contact:
Eilert Hanoa, CEO Mamut, phone: + 47 2320 3500 or e-mail: press@mamut.com
Mamut ASA – Annual accounts 2000 (Unaudited)
|
PROFIT AND LOSS STATEMENT |
2000 |
1999 |
|
|
(NOK 1.000) |
|
PRO FORMA* |
|
|
|
|
|
|
|
Operating revenue |
57 224 |
45 555 |
26% |
|
Cost of goods and services |
6 733 |
6 165 |
|
|
Personnel costs incl. payroll tax |
45 593 |
33 430 |
|
|
Other operating costs |
34 552 |
18 691 |
|
|
Total operating costs |
86 878 |
58 286 |
49% |
|
Operating profit (loss) before depreciation (EBITDA) |
(29 654) |
(12 731) |
|
|
Deprecation intangible assets |
1 448 |
0 |
|
|
Depreciation other fixed assets |
3 176 |
1 555 |
|
|
Operating profit (loss) |
(34 278) |
(14 286) |
|
|
Net financial profit |
1 459 |
258 |
|
|
Profit (loss) before tax |
(32 819) |
(14 028) |
|
|
Tax |
21 280 |
(411) |
|
|
Profit (loss) for the year |
(11 539) |
(14 439) |
|
*The comparable figures for 1999 have been revised so that the same accruals concepts have been applied to the income figures for 1999 and 2000.
