For immediate release
Contacts
Cameleon Software - +33 (0)811 70 78 78
Thibault de Bouville, CFO,
tdebouville@cameleon-software.com
Virginie Dupin, Marketing Director
vdupin@cameleon-software.com
Cameleon Software
Sharp rise in profitability
97% growth in Operating Profit
Net income: 12% of revenue
72% growth in the software order book
Chicago, IL, USA and Toulouse, France, August 29, 2013
Cameleon Software (ISIN: FR0000074247), the global leader in multi-channel, multi-device product configurator, quotes, proposals and eCommerce software, has announced its provisional net income for the first half of 2013, approved by the Board of Directors' meeting held today. Note that the audit procedures are being finalized.
Jacques Soumeillan, the CEO of Cameleon Software, explains that "the group's business growth picked up in the first half of 2013 and profitability increased significantly. This profitable growth means that we can contemplate our development plan with complete confidence. This plan, based on technological innovation, the supplying of software solutions in on premises license mode or SaaS mode, and on a strong presence in Europe and the US, is aimed at strengthening the group's leadership of the CPQ (Configure Price Quote) market for large corporate clients. With revenue up by 19% and net income representing 12% of revenue, 2013 has therefore gotten off to a very encouraging start. The development of SaaS, the gradual rollout of on premises licenses to our customers and the large share of maintenance revenue boost the visibility of Cameleon Software's activity in subsequent fiscal years. The outlook therefore remains very sound for the coming quarters given the growth in the order book in recent months. Our financial structure is solid and Cameleon Software has the financial resources needed to keep pace with its growth and reinforce its unique technology differentiators so as to meet the rapidly growing global demand for CPQ software".
(? million) | H1 2013 | H1 2012 |
Software revenue | 3.50 | 3.90 |
Services revenue | 2.63 | 1.27 |
Revenue | 6.13 | 5.17 |
Gross margin | 5.90 | 5.14 |
Employee benefits | (3.76) | (3.55) |
Current operating profit | 0.68 | 0.34 |
Non-recurring costs | (0.01) | - |
Operating profit | 0.67 | 0.34 |
Financial and other | 0.05 | 0.03 |
Net income | 0.72 | 0.38 |
(Provisional data)
+19% revenue growth in H1 2013
The revenue in the first half, at ?6.13M, rose by +19% vs. the same period last year. This performance is all the more remarkable given that the first half of 2012 was already buoyant with 17% growth vs. the first half of 2011.
208% growth in SaaS revenue
Cameleon Software had a number of commercial successes in the first half, in line with its excellent performance in 2012. In particular, the company continued to roll out its Cameleon Cloud offer with 208% growth in SaaS revenue over the first half. The company also signed a contract with a global leader in the sale of telecommunications solutions, with the building management division (security and facilities and energy management) of a high-tech European conglomerate and with an air-conditioning equipment market leader, an international company belonging to a US group. A long-standing Group customer also switched to SaaS mode for a total amount of more than ?1.5M of SaaS orders over the next five years.
72% rise in the software order book over the last twelve months
The rampup of the SaaS model led to a sharp rise in the software order book (on premises licenses and SaaS royalties excluding maintenance) to ?9.51M at June 30, 2013, vs. ?5.54M at June 30, 2012, representing growth of more than 72% over the year.
12% net margin in H1 2013 vs. 7% a year earlier
Operating profit was positive in the amount of ?0.67M over the period, vs. ?0.34M over the same period in 2012, representing 97% growth over the period. Net income was ?0.72M over the period, representing 12% of revenue, vs. ?0.38M over the same period in 2012 (7% of revenue).
Cash position at ?5.66M at June 30, 2013
Cash-flow was positive over the period at +?0.79M, while the cash position rose from ?4.87M at 31/12/2012 to ?5.66M at 30/06/2013. It stood at ?4.49M at 30/06/2012.
Closing balance sheet as at June 30, 2013
The closing balance sheet was as follows:
Assets in ?M | 06/30/2013 | 06/30/2012 | |
Goodwill | 2.80 | 2.80 | |
Other non-current assets | 0.77 | 0.73 | |
Trade receivables | 3.04 | 3.19 | |
Other current assets | 0.45 | 0.59 | |
Cash and cash equivalents | 5.66 | 4.49 | |
Goodwill | 12.71 | 11.79 | |
Liabilities in ?M | 06/30/2013 | 06/30/2012 | |
Shareholders' equity | 5.89 | 4.77 | |
Long-term financial debt | 0.81 | 0.81 | |
Short-term financial debt | 0.09 | 0.16 | |
Trade payables | 0.97 | 0.93 | |
Other debt | 2.27 | 2.58 | |
Deferred income | 2.68 | 2.53 | |
Total liabilities | 12.71 | 11.79 | |
(Provisional data) |
About Cameleon Software
Cameleon Software is the global leader in multichannel, multi-device product configurator, quotes, proposals and eCommerce software. Cameleon solutions empower customers' sales teams to streamline their quote-to-order process and increase sales across all channels, and marketing teams to define and launch new products faster. Cameleon's solutions integrate with leading CRM and ERP systems including salesforce.com, SAP, Oracle and Microsoft and are available in both SaaS and On Premises format. Cameleon Software is a public company with strong references in industries such as insurance and financial services, telecom, hi-tech and manufacturing, including ADT/Tyco, Cable ONE, Sage, SFR, Technip and ThyssenKrupp.
For more information
www.cameleon-software.com:
http://www.cameleon-software.com/ | www.salesforce.com/appexchange:
http://www.salesforce.com/appexchange
http://hugin.info/143401/R/1725856/575670.pdf
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(i) the releases contained herein are protected by copyright and other applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of the
information contained therein.
Source: CAMELEON SOFTWARE via Thomson Reuters ONE