TRIFORK A/S 
By 02/11/12 Trifork A/S - Quarterly announcement Q3-??2012
Published: 2012-11-02 09:00:01 CET
Trifork A/S Interim report
Trifork A/S - Quarterly announcement Q3-2012 Message No. 18/2012Aarhus, November 2, 2012, 2012-11-02 09:00 CET (GLOBE NEWSWIRE) --
Development in accordance to plansTrifork maintains its expectations of a total revenue in 2012 of DKKm 230 and an EBITDA-result for the year of DKKm 36.
Financial development
Revenue for Q3-2012 totaled DKKm
44.7 corresponding to an
improvement of 16% compared to
the same quarter in 2011.
For Q1-Q3, 2012 revenue was
DKKm 146.0 representing an
increase of 27% over the
same period in 2011.
EBITDA profit for Q3-2012 totaled
DKKm 6.2 which is 28%
below the same period in
2011.
For Q1-Q3 2012 EBITDA was DKKm
19.5 corresponding to a
decrease of 7% compared to
the same period in 2011.
EBITDA-margin for Q3 ended at
13.9% giving a total margin
of 13.3% for the period
Q1-Q3 2012.
"The results for period Q3 does not live up to our expectations. However, is has been a quarter where we have prioritized new initiatives to support the future growth of the company, so we still look forward to the rest of 2012 and believe that we can achieve the announced financial goals for the year. We expect to reach an EBITDA-margin of over 15%", says CEO Jørn Larsen.
Significant events in Q3-2012
Trifork Amsterdam (formerly Orange11)
has been integrated in the
group. A big effort has
been made to integrate the
company in the group. The
process is going well and
Trifork expects a future positive
development in both revenue and
profit-margins.
Trifork Projects Copenhagen was
adopted 100% into the group,
giving an expectation to create
even more future growth.
Trifork announced a new cooperation
with Syd Energi (SE)
establishing a new company
"Next Step Citizen", which will
focus on delivering integrated
solutions in telemedicine services
to the public sector in
Denmark.
Trifork established a cooperation
with the company IT Minds
ApS to be able to recruit
new employees via the company.
At the same time Trifork
acquired a 5% ownership of
the company. It has been
difficult to keep the momentum
in the ongoing business and
hard to keep the profit-
margins. Significant resources and
cost has been spend in
marketing and development of
new proofs of technology.
Trifork expects a positive
development in profit-margins on
the international activities. This
based on optimizations carried out
in Q3 and current forecasts
for the quarter.
GOTO Aarhus (October) and QCon
San Francisco (November) are
two of the major conferences
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02/11/12 Trifork A/S - Quarterly announcement Q3-??2012
carried out in Q4-2012. Both
conferences are expected to
outdo the results in 2011
and in this way giving a
significant raise in both
revenue and profit.
Higher profit-margins are expected
due to the fact that most
expenses to marketing activities
has been held in Q3 and a
high utilization of resources
is predicted in profitable
projects in Q4.
Trifork CEO Jørn Larsen: "Q4 is
historically one of the best
quarters in Trifork and we
expect history to repeat itself
in Q4-2012. A major part
of this is due to the
timing and nature of our
conferences. The revenue and profit
from these will have an
impact on in the quarter
where they are carried out
- even though tickets are
already sold and we are
working on them for more
than a half year in
advance".
Trifork was founded in 1996 and
is listed on NASDAQ OMX
in Copenhagen. It is an
innovative software development company
focusing on Mobile, Agile and
Cloud. It develops and delivers
business critical IT systems for
several sectors including finance,
healthcare, government, manufacturing
and
telecom. Trifork employs 180 people
in 7 offices in Aarhus,
London, Copenhagen, Zürich,
Amsterdam, Krakow, Stockholm and San
Francisco. At the end of
2011 Trifork had a market
value at almost DKKm
256 / EUR 34M, with a
turnover of DKKm 175 /
EUR 23M.
Kind regards,
Board of directors, Trifork A/S
Margrethepladsen
DK-8000 Århus C, Denmark
CVR-no. 20921897
ISIN DK0060102887
Shortname: TRIFOR Phone: +45 8732 8787
Fax: +45 8732 8788
Contact:CEO, Jørn Larsen
Direct: +41 79 430 9697
E-mail: jla@trifork.com
This news release was distributed by GlobeNewswire, www.globenewswire.com - a NASDAQ OMX company
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