Excellent 4th quarter 2004 The Group posts its sixth consecutive semester of growth
Consolidated annual turnover: +17,5% Operating result exceeds 11% (IFRS standards)
Levallois-Perret, February 1, 2005 With turnover of more than 16M in the fourth quarter, the BVRP Software Group is posting an excellent end to 2004, reaching its annual turnover objectives with turnover of 57.0M, up 17.5% from 2003. Software, the Groups core business, posted the best performance with a record fourth quarter (13.7M) and growth of more than 26% over 2003, profiting especially in Europe from the seasonal nature of retail activity. Growth was 10% for the year, on a like-for-like basis, in line with the double-digit growth recorded in the first half of the year. In 000 Software Services Miscellaneous Total 2004 47,027 7,895 2,116 57,37,418 7,615 3,517 48,550 Variation 2004 v. 2003 +26% +4% -40% +17% Pro forma 2003 40,764 8,264 2,990 52,018 Variation 2004 v. pro forma +15% -4% -29% +10%
Note: The pro-forma data are presented at constant perimeter and currency. They include the turnover for Avanquest UK (formerly MediaGold UK) and Avanquest Deutschland (formerly MediaGold GmbH), companies acquired in October 2003.
Confirming the performances of previous quarters, growth in OEM activity remained strong and is posting an advance of more than 61% over 2003. The mobility and wireless line of business, which today accounts for 12% of software sales, was a major factor in this performance, with turnover multiplied by five in just one year. The signing of numerous agreements in the fourth quarter (partnership with Netgear, HP, Blueway, Intuwave, Optimus, Broadcom and Motorola Japan) provide grounds for anticipating continued growth for this activity in the months to come. Retail and enterprise sales also continued to grow, thanks to Avanquests worldwide network, which gives the Group a presence in virtually every area, and every sales channels, through its software-publishing subsidiaries. Improved sales in existing products like Ghostsurf in the USA, the signing of new exclusive publishing contracts with new partners, and the release of new versions of software such as WinFax eXPert Rseau, ACDSee, PC-cillin Internet Security, MusicMatch Jukebox Deluxe and Power Translator contribute to this growth. In keeping with the guidelines set by management last November, the operating result should hit 12% of turnover according to French accounting standards, up 75% from 2003, and should exceed 11% according to IFRS standards, which will be applied for the first time in 2004 by the BVRP Group (unaudited figures). The final annual results as well as guidances for financial year 2005 will be released on March 21, 2005.
About BVRP Software Based in France, with subsidiaries in Germany, Great Britain, Spain and the United States, the BVRP Software Group is a worldwide leading publisher of communications and mobility software and a major provider of personal and professional software designed for utilities, office productivity and multimedia. Founded in 1984, BVRP Software celebrates 20 years of innovation in 2004. BVRP products are marketed in over 100 countries, through e-commerce, OEM partnerships and IT resellers. In June 2003, BVRP Group formed Avanquest Global Software Publishing, a coalition of software publishers offering worldwide publishing resources to software developers everywhere. The group posted revenue of 48.6M and a net income of 3.9M in 2003, and revenue of 57.0M and an operating income of 11% of sales according to IFRS standards (unaudited figures) in 2004. Listed on Euronext (ISIN FR0004026714) since December 1996, BVRP Software is part of the NextEconomy segment and the SBF 250 index. Additional information on BVRP is available at http://www.bvrp.com Your contacts Thierry Bonnefoi, Chief Financial Officer: Analysts/Investors Relations Tel.: +33 (0)74 E-mail : tbonnefoi@bvrp.com Lucie Rivaud, Press Relations Tel. : +33 (0)96 E-mail : lrivaud@bvrp.com Christine Sauvaget, Communications Tel. : +33 (0)82 E-mail : csauvaget@bvrp.com ISIN : FR0004026714 Reuters : BVRP.LN Bloomberg : BVRP NM