InVision Software AG: Results for the Financial Year 2011 Confirm Preliminary Figures
- Business development impacted by the transformation of the business model
- R&D expenses remain on a high level
InVision Software AG (ISIN: DE0005859698) has confirmed the preliminary figures reported for the financial year 2011. Revenues are at EUR 12.4 million, compared to EUR 16 million reported for 2010. This corresponds to a decrease of 23 percent. Revenues from software and subscriptions fell by 26 percent to EUR 8.9 million (2010: EUR 12 million) and service revenues were reduced by 10 percent to EUR 3.6 million (2010: EUR 4 million). As of the end of the fiscal year, earnings before interest and taxes (EBIT) equalled EUR -3.9 million, compared to EUR +1.1 million reported for last year. As of 31st December, liquid funds decreased to EUR 1.7 million (31st December 2010: EUR 5.7) specifically due to the repurchase of the Company’s own outstanding shares and the acquisition of “The Call Center School“. As of 1st January 2012, the annual cost basis excluding amortisation and depreciation is EUR 12.9 million, corresponding to a decrease of 18 percent (2011: EUR 15.7 million). The expenses for research and development remain on the same high level of the previous year and amounted to EUR 5.3 million in 2011.
At the moment, InVision is radically transforming its business model. In target markets across Europe and North America, the InVision Group is gradually replacing its licence revenues and project services with subscriptions to cloud computing services. This temporarily leads to lower revenues, but the Company will achieve a significantly greater scalability of the business model in the medium and long term.
The year 2012 will also be defined by the business model transformation. The focus will be on execution and optimisation, and the initiatives and projects already launched will be transferred into regular operations. The Executive Board is confident that all significant measures will be completed during the second half of 2012.
The complete 2011 Annual Report is available now for download on this website, in the section ‘Financial Reports’.