• Group revenue up 16% to EUR 16.5 million
• Consulting revenue up 15%
• Software business increased by 20%
• EBIT up 42%
• Increase in net cash and cash equivalents and cash flow
Walldorf, April 24, 2008. REALTECH AG recorded revenue of EUR 16.5 million in the first quarter of 2008, 16% up on the figure for the previous year (first quarter of 2007: EUR 14.2 million). Consulting revenues increased by 15% compared with Q1/2007 to EUR 13.1 million (EUR 11.4 million). Revenues in the software segment rose by 20% to EUR 3.4 million (EUR 2.8 million).
EBITDA (earnings before interest, taxes, depreciation, and amortization) increased 27% to EUR 1.3 million (EUR 1.0 million). Income from operations (EBIT) was up 42% to EUR 1.1 million (EUR 0.8 million).
Net income almost doubled to EUR 0.6 million (EUR 0.3 million), corresponding to earnings per share of EUR 0.12 (EUR 0.06).
In the first three months of 2008, the company recorded a EUR 1.6 million cash flow from operating activities (EUR 1.1 million). At the end of March 2008, net cash and cash equivalents stood at EUR 29.6 million, compared with EUR 28.1 million at the end of 2007 and EUR 29.0 million at the end of last March.
REALTECH confirms the ambitious goals set for fiscal year 2008 (revenue growth of 14% and EBIT growth of 11%) and will be publishing its report on the 1st quarter of 2008 on May 7, 2008.