cc-hubwoo Announces H1-2005 Results and Q3-2005 Sales.PARIS Paris, in Greek mythology Paris or Alexander, in Greek mythology, son of Priam and Hecuba and brother of Hector. Because it was prophesied that he would cause the destruction of Troy, Paris was abandoned on Mt. -- cc-hubwoo (ISIN Isin (ĭs`ĭn), capital of an ancient Semitic kingdom of N Babylonia. The city became important after the third dynasty of Ur fell to the Elamites and the Amorites (c.2025 B.C.). The phase from c.2025–c.1763 B.C. : FR0004052561)
CONSOLIDATED SALES Q3-2005: EUR 8.5 m (+ 71%)
CONSOLIDATED SALES H1-2005: EUR 12.9 m (+ 118%)
RECURRING OPERATING RESULT: EUR (2.6 m) (+ 3%)
NET CASH POSITION IMPROVED BY EUR 2.2 m
BETTER RESULTS EXPECTED IN THE SECOND HALF OF 2005
NEW CUSTOMERS AND IMPROVING OPERATIONAL INDICATORS
A NEW GLOBAL MANAGEMENT TEAM FOR AN AMBITIOUS PROJECT:
"THE ENTERPRISE SUPPLY NETWORK"
cc-hubwoo (ISIN: FR0004052561), the world's leading provider for on-demand electronic procurement The fancy word for "purchasing." The procurement department within an organization manages all the major purchases. solutions and supplier network management, today announced results for the first half of 2005 (ended 30 June) and sales for the third quarter of 2005 (ended 30 September).
H1-2005 RESULTS
Table 1: consolidated profit & loss account
Consolidated financial statements (IFRS)
-----------------------------------------
EUR m 06/30/2005 (1) 06/30/2004 12/31/2004 (2)
---------------------------- -------------- ----------- --------------
Sales 12.9 5.9 17.1
---------------------------- -------------- ----------- --------------
Operating charges (14.2) (7.1) (20.1)
EBITDA (1.3) (1.2) (3.0)
---------------------------- -------------- ----------- --------------
Amortization & Provisions (1.3) (1.5) (2.8)
Recurring operating result (2.6) (2.7) (5.8)
---------------------------- -------------- ----------- --------------
Other non-recurring
operating charges (0.7) (0.1) (0.3)
Operating result (3.3) (2.8) (6.1)
---------------------------- -------------- ----------- --------------
Financial result 0 0 0.1
Net result (3.4) (2.8) (6.0)
---------------------------- -------------- ----------- --------------
(1) Consolidated financial statements to 30 June 2005 (Trade-Ranger
consolidated over 1.5 months)
(2) Consolidated financial statements to 31 December 2004
(cc-chemplorer consolidated over 6 months)
cc-hubwoo's consolidated profit & loss account factors in the activity of cc-chemplorer's German customers since July 2004 and Trade-Ranger's American customers since 17 May 2005. At the end of June 2005 consolidated sales came to EUR EUR In currencies, this is the abbreviation for the Euro. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 12.9 m, up from EUR 5.9 m in the first half of 2004 (up 118%). Operating charges rose from EUR 8.6 m to EUR 15.5 m (up 81%), driven by cc-chemplorer integration and Trade-Ranger's consolidation in the first half of 2005. The recurring re·cur intr.v. re·curred, re·cur·ring, re·curs 1. To happen, come up, or show up again or repeatedly. 2. To return to one's attention or memory. 3. To return in thought or discourse. operating result improved slightly to EUR (2.6 m) in 2005 (up 3%). After adding non-recurrent management restructuring charges restructuring charge The expense of reorganizing a company's operations. A restructuring charge is an infrequent expense that generally results from asset writedowns or facility closings. of EUR 0.7 m, the operating result came to EUR (3.3 m), versus EUR (2.8 m) in the first half of 2004. At the end of June 2005, the net loss came to EUR (3.4 m), versus EUR (2.8 m) in 2004. The net margin improved from -47% in 2004 to -20% in 2005. The net loss per share is (0.14) in the first half of 2004 compared with (0.09) in 2005. Improvement of financial structure At 30 June 2005, equity came to EUR 79.3 m, EUR 12.8 m higher than at the end of 2004. The cash position came to EUR 7.9 m, up EUR 2 m compared with 31 December 2004. These improvements in the group's financial structure strengthen the foundations for international expansion. Impact of IFRS IFRS International Financial Reporting Standard(s) IFRS Inter Frame Relay Service IFRS Indiana Facilities Registry System The first consolidated financial statements Consolidated Financial Statements The combined financial statements of a parent company and its subsidiaries. Notes: Because consolidated financial statements present an aggregated look at the financial position of a parent and its subsidiaries, they enable you to gauge published by the group according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. the IFRS were those for the financial year ended 31 December 2005, presented to permit comparison with the year ended 31 December 2004. Changeover (programming) changeover - The time when a new system has been tested successfully and replaces the old system. from French standards to the IFRS on the consolidated profit & loss account for 2004 mainly affected goodwill (up EUR 1.7 m), charges on stock option grants (down EUR 1.1 m) and depreciation of intangible assets Intangible Asset An asset that is not physical in nature. Notes: Examples are things like copyrights, patents, intellectual property, and goodwill. These are the opposite of tangible assets. (down EUR 0.5 m). Changeover to the IFRS improved the net loss for 2004 by EUR 0.1 m. Q3-2005 SALES Sales growth Consolidated sales for the third quarter of 2005 came to EUR 8.5 m, up 71% from Q3-2004. This figure factors in the activity of Trade-Ranger, i.e. EUR 3 m for the quarter. On a like-for-like basis, sales were up 10%. Consolidated sales from January to September 2005 came to EUR 21.4 m, up 97% versus the same period in 2004. This figure factors in the activity of Trade-Ranger, i.e. EUR 4.6 m during the period. On a like-for-like basis, sales were up 5%.
Table 2: Sales from January to September 2005
Cumulative over
3rd quarter 9 months
----------------- -----------------
EUR m 2005 2004 % 2005 2004 %
----------------- -----------------
Consolidation structure without
Trade-Ranger (1)
-------------------------------- ----------------- -----------------
- Pro forma sales 5.5 5.0 + 10% 16.8 15.9 + 5%
-------------------------------- ----------------- -----------------
- Consolidated sales 5.5 5.0 + 10% 16.8 10.9 + 54%
-------------------------------- ----------------- -----------------
Consolidation structure with
Trade-Ranger (2)
-------------------------------- ----------------- -----------------
- Consolidated sales 8.5 5.0 + 71% 21.4 10.9 + 97%
-------------------------------- ----------------- -----------------
(1) cc-chemplorer consolidated from the second half of 2004
(2) Trade-Ranger consolidated from 17 May 2005 (EUR 1 = $ 1.22)
Strong growth in transactions Transaction volumes on the platform continued to grow steadily during the third quarter. On a like-for-like basis, the order volume processed on the platform increased by 26%. Including the activity of Trade-Ranger's customers in the third quarter, the cumulative order volume processed on the platform was double last year's. Since January 2005, the transaction volume on the platform amounted to more than 1.0 million orders on a like-for-like basis, i.e. 30% organic growth compared with the same period in 2004, with an aggregate value of EUR 1.1 bn, up 10%. Including the activity of Trade-Ranger's customers in the third quarter, the cumulative order volume processed on the platform amounted to almost 1.5 million orders with a value of EUR 3.8 bn.
Table 3: Indicators
3rd quarter Cumulative over 9 months
------------------------ --------------------------
2005 2004 % 2005 2004 %
------------------------ --------------------------
Constant
consolidation
structure
(without Trade-
Ranger)
------------------ ------------------------ --------------------------
- Orders in real
terms 341,837 271,577 + 26% 1,006,033 773,068 + 30%
------------------ ------------------------ --------------------------
- Orders in
nominal terms
(EUR m) 351 361 -3% 1,133 1,027 + 10%
------------------ ------------------------ --------------------------
Consolidation
structure with
Trade-Ranger (1)
------------------ ------------------------ --------------------------
- Orders in real
terms 511,417 271,577 + 88% 1,486,222 773,068 + 92%
------------------ ------------------------ --------------------------
- Orders in
nominal terms
(EUR m) 1,193 361 + 230% 3,775 1,027 + 268%
------------------ ------------------------ --------------------------
(1) Trade-Ranger consolidated with effect from 17 May 2005 based on
EUR 1= $ 1.22
Note: these data do no include the sourcing business (invitations to
tender and online auctions)
Strong growth of recurrent revenues On a like-for-like basis (without Trade-Ranger) recurrent revenues (annual fees and transaction fees) amounted to EUR 4.5 m, i.e. organic growth of 10%. Aggregate recurrent revenues since the beginning of 2005 were up 16% on 2004, accounting for 80% of total sales on a like-for-like basis (excluding Trade-Ranger). New customers: --Wales & West Utilities, a British gas British Gas is the name of several companies
--SAFRAN, an international high-tech group specialised in propulsion Propulsion The process of causing a body to move by exerting a force against it. Propulsion is based on the reaction principle, stated qualitatively in Newton's third law, that for every action there is an equal and opposite reaction. , communication, infrastructure and defence security, has signed a deployment agreement for its subsidiaries with cc-hubwoo. OUTLOOK AND STRATEGY Results are expected to improve in the second half of 2005 Management expects operating results to improve in the second half on the back of sales growth and programs to trim operating charges. Moreover, non-recurrent restructuring and reorganisation Noun 1. reorganisation - the imposition of a new organization; organizing differently (often involving extensive and drastic changes); "a committee was appointed to oversee the reorganization of the curriculum"; "top officials were forced out in the cabinet charges will be lower than in the first half. A new leadership team to build the global "Enterprise Supply Network" Alain Andreoli, cc-hubwoo Chairman since 5 July 2005, has organised a management team with extensive professional experience and multicultural mul·ti·cul·tur·al adj. 1. Of, relating to, or including several cultures. 2. Of or relating to a social or educational theory that encourages interest in many cultures within a society rather than in only a mainstream culture. backgrounds. The priority of the new team is to strengthen the Business Model, to adapt operating costs operating costs npl → gastos mpl operacionales to international structures and to make the group the world leader by combining innovation with strong growth and profitability. During his first ninety days in office, Alain Andreoli laid the foundations for faster global expansion by unifying the group's historic companies and delegating management to a strong, decentralised Adj. 1. decentralised - withdrawn from a center or place of concentration; especially having power or function dispersed from a central to local authorities; "a decentralized school administration" decentralized multinational team based at the group's major sites. The program to unify 1. (database, product) Unify - A relational database produced by Unify Corporation. 2. (algorithm) unify - To perform unification. the company's key processes is well underway, with particular focus on rationalisation Noun 1. rationalisation - (psychiatry) a defense mechanism by which your true motivation is concealed by explaining your actions and feelings in a way that is not threatening rationalization and rapid integration of the technical platforms. The new management team consists of the following members: Chief Technical Officer: Sebastian Gass (German, Houston) Chief Financial Officer: Stefan Berger (German, Paris) VP Marketing, Products and Strategy: Martin Volatier (French, Paris) SVP SVP S'il Vous Plaît (French: Please) SVP Senior Vice President SVP Schweizerische Volkspartei (Swiss People~s Party) SVP Society of Vertebrate Paleontology SVP Social Venture Partners SVP St Vincent de Paul Suppliers and Clients Care: Randy Clark Randall Byron Clark (born July 27, 1957 in Chicago, Illinois) was a tackle who played eight seasons in the National Football League for the St. Louis Cardinals and the Atlanta Falcons. (American, Houston) Legal Counsel, acting VP Human Resources The fancy word for "people." The human resources department within an organization, years ago known as the "personnel department," manages the administrative aspects of the employees. : Deborah Fay (Irish, Dublin) SVP European Sales: Steffen Chalupny (German, Bonn) SVP North/Central Europe, WW Services: Angelika Horth (German, Bonn) SVP South Europe/MEA/Asia: Stephane Coue (French, Paris) SVP Americas: Alan Reid For other persons named Alan Reid, see Alan Reid (disambiguation). Alan Reid (born 7 August 1954, Ayr) is a politician in Scotland. He is Liberal Democrat Member of Parliament for Argyll and Bute, and was first elected at the 2001 general election. (American, Houston) cc-hubwoo Chairman Alain Andreoli concluded: "We are working hard to make the most of the synergies generated by the recent merger with the American group Trade- Ranger Ranger Any of a series of unmanned probes launched from 1961 to 1965 by NASA. The project was NASA's earliest attempt to explore the Moon's surface. Ranger 4 (1962) became the first U.S. spacecraft to hit the Moon, crash-landing on its surface as planned. and last year's merger with cc-Chemplorer. This should be reflected in faster improvement of results in the second half of 2005. Our goal is to break even the recurring operating result before the end of the year. The merger synergies obviously had little impact on the first half of 2005 owing to owing to prep. Because of; on account of: I couldn't attend, owing to illness. owing to prep → debido a, por causa de implementation delays. Our strategic agenda is ambitious. We are looking at a steadily consolidating world market in which there will only remain room for 2 to 3 global marketplaces in less than five years. Each of these remaining companies will play a federating role for the procurement business: our "Enterprise Supply Network" will be among the leaders. 2006 will be a watershed watershed, elevation or divide separating the catchment area, or drainage basin, of one river system or group of river systems from another system or group of systems. The term is also often used synonymously with drainage basin. for us. The new group is now shaped to start achieving our globalisation objective, combined with strong and profitable organic growth." About cc-hubwoo (www.cc-hubwoo.com) : cc-hubwoo (ISIN: FR0004052561) is the global leading provider for Source-to-Pay electronic solutions and supplier network management. The company manages the largest Business to Business Community with more than 60 worldwide buying corporations (50 of them among Fortune 1000) and over 12,000 connected suppliers. Main clients include Total, BASF BASF Bar Association of San Francisco (since 1872; San Francisco, California) BASF Badische Anilin und Soda Fabrik (German chemical products company) BASF Builders Association of South Florida , EDF-Gaz de France, Michelin, Shell, Thomson, Bayer, Henkel, Degussa, Alcatel, Safran, Danone, ConocoPhillips, Dow Chemical, ENI, Repsol YPF Repsol YPF, S.A., (IBEX-35:REP) is an integrated Spanish oil and gas company with operations in 29 countries, the bulk of its assets are located in Spain and Argentina. The product of a 1999 takeover of Argentine energy firm YPF by the Spanish conglomerate Repsol S.A. , Solvay, Statoil and PPR PPR peste des petitis ruminants. . cc-hubwoo trading hub annually processes 2 million purchase orders representing EUR 5 billion in customer spend value. The company has offices in France, Germany, Belgium, Ireland, USA and Singapore.
Listed on Eurolist of Euronext Paris - Compartment C
ISIN : FR0004052561, Reuters : HBWO.LN, Bloomberg : HBWO FP
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