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February 2008

Exie reports 35 percent annual software growth

 

Exie increased the revenue by 30 percent during 2007. The company is now preparing for further growth.

Exie announced financial results for 2007, with a net revenue of 35,1 million NOK, a 30 percent increase from 2006. The operating profit was 1,6 million NOK, the same as the year before. Profit before tax was 1,6 million NOK, up from 1,5 million in 2006. Exie is particularly satisfied with 35,3 percent software growth year-over-year.

The IT-company is specialised on People Driven Performance Management solutions and has customers within both public and private sector. The company continues its ambitious growth plan and signed an important contract with ISS Facility Services in 2007..

Further growth

During 2007 the sales department has increased from two to ten employees. This rapid growth will have a positive impact on the revenue in 2008.

• Our long-term strategy is an annual revenue growth between 30 and 50 percent, says CEO Bjørn Rist.

Exie currently employs nearly 60 people compared to 44 in the beginning of 2006.

Consolidation in the market

Since the beginning of 2007 the Business Intelligence market has experienced a wave of consolidations. Oracle acquired Hyperion, SAP acquired Business Object and IBM acquired Cognos. Thus Exie will face powerful competitors in the marked, but Rist is not concerned:

• Now there are four huge competitors in the marked, with Microsoft challenging from behind. This will have influence on the market. Because of all the acquisitions they need time for internal challenges, and most likely they will not launch new functionality in the short term, says Rist and continues:

• Some customers will therefore consider smaller companies, like Exie, which have high competence and great flexibility.

 

 - Golden opportunity

As a result of the market consolidation, companies such as Exie, has a “golden opportunity” to be successful.

   - We have a great technology, but its also satisfying that Gartner emphasizes the results we have created for our customers. Gartner has understood that an important requirement for great management is to involve all employees in every level in the organisation. This is exactly what we can offer, says Rist.

 

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