Year-end Report Jan–Dec 2009
- Revenue totaled SEK 180.4million (158.3), up 13% (22)
- Software revenues (licenses andmaintenance) rose 6% (11)
- Operating profit was SEK 14.3 million (16.6), giving an operating margin of 8% (10)
- Profit after tax totaled SEK 10.1 million (13.1), giving a profit margin of 6% (8)
- Earnings per share after tax equaled SEK 3.5 (4.6)
- Cash flow was SEK 3.8 million (2.1), and cash, cash equivalents, and current investments totaled SEK 42.2 million (38.2)
- The equity/assets ratio was 33% (32)
- The Board of Directors proposes a dividend of 1.50 per share (1.50)
CEO’s comment on 2009 performance
Jeeves continues to grow. Sales increased 13% (22) in 2009, with sales to smaller companies (20–200 employees) advancing the most. The rate of growth was affected by the scarcity of major transactions in the market.
Under current market conditions, we are pleased with these results, which demonstrate Jeeves’
resilience and strength. Slower growth combined with the costs of the ongoing build-up of our
international sales channels have an impact on profitability.
In the Swedish market for ERP systems, Jeeves is consolidating its strong position. We are proud
to have been named “Sweden’s most popular ERP system,” announced in the Exido IT
Barometer in December 2009. Roughly 1,000 IT managers in Sweden participated in the survey.
The proportion of foreign transactions increased during the year, chiefly in Norway. However,
conditions are tough in several of our markets, and international growth has not met our
expectations. We foresee ongoing tentative demand for ERP systems, primarily from larger
companies (200–500 employees). Demand in this segment picks up late in the business cycle.
"I have immense confidence in Jeeves. Together with our partners, we will continue to generate
new business. Our attractive and highly flexible offer provides customers with outstanding
benefits at a low cost of ownership and, combined with the investments we are making in
our sales channels, it puts us in an excellent position to gain market shares and to keep
Jeeves Information Systems AB develops Sweden's most popular ERP system*. The products, Jeeves Selected, Jeeves Universal and Garp, offer wide functionality at one of the lowest total costs of ownership in the market. Customers exceed 4.000 companies in more than 40 countries. Jeeves is listed on NASDAQ OMX Nordic Exchange (Small Cap) since 1999. www.jeeves.se/en
* Exido IT-barometern 2009