Hubwoo announces Q1 2015 Revenues

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Apr 30, 2015, 01:45 ET

PARIS, April 30, 2015 /PRNewswire/ -- Hubwoo (Euronext: HBW.NX), a leading provider of comprehensive spend management and business process automation solutions, today announced financial information for Q1 2015, in accordance with the "European Transparency Obligations Directive" financial disclosure requirements.

Gregory A. Mark, Hubwoo Chairman and CEO commented: "We are pleased to see this level of activity within our Professional Services Group as it indicates an increased level (sustained from Q4'14) of activity within our net new customers as well as our existing customer base. Our mission is to help our customers save money by optimizing their investments in P2P technologies, and our Services activity within our customer base is vital to the achievement of that mission."

Revenues:

in EUR million	Q1 2014	Q1 2015	% Q1 Change 2015 / 2014 *

Consolidated Revenue	6.9	6.7	-2%
SaaS **	5.7	5.3	-8%
Services	1.1	1.5	30%
(Q1 2015 Figures Unaudited)

(*) Percentages calculated on exact numbers, not the rounded numbers shown
(**) SaaS is a model of delivering technology where a software solution is hosted (cloud computing) as a service for its customers.
Clients do not buy the technology but pay a subscription fee to use it.

Q1 2015 total revenue was EUR 6.7 million, showing a slight decline (-2%) compared to Q1 2014. The recurring SaaS component of revenue was EUR 5.3 million, down 8% from the same quarter of 2014 as a consequence of the end of customer contracts as part of the technology transition that the company has been experiencing over the last quarters.

The Services component of revenue grew very significantly (+30%), at EUR 1.5 million due to very strong activity in the implementation of new customers whose contract signature was materialised in the second half of 2014, as well as due to the expansion of the existing customer base.

Major Q1 2015 events

Availability of SAP v10 Solutions:

In Q1 2015, Hubwoo announced the immediate availability of the SAP® Sourcing and SAP Contract Lifecycle Management (SAP CLM) application 10.0, hosted by Hubwoo. With SAP Sourcing and SAP CLM 10.0, Hubwoo customers can expect to benefit from an accelerated head start on achieving business value with these leading-edge solutions that provide improved user experience and connectivity, and reduced total cost of ownership.

Click here to read more.

Hubwoo's Customer Training Space:

Hubwoo also announced the availability of its new Customer Training Space. Hubwoo's multi-lingual Global Customer Support team has created this new Customer Training Space in an ongoing effort to provide best-in-class customer support.

Hubwoo's Customer Training Space gives registered users access to three core areas: Hubwoo's Training Library, which includes a wide range of training materials; Hubwoo's Training Calendar with registration links for live training sessions; and a Contact Page that provides a full list of phone numbers for Hubwoo Support.

To learn more click here.

About Hubwoo (www.hubwoo.com)

Hubwoo connects companies by providing comprehensive spend management and collaborative business process automation solutions for both goods and services, in the cloud, through The Business Network.

Our solutions integrate with any ERP or procurement system, providing our customers with an easy to use solution which drives adoption, compliance and savings.

Significant customers include BASF, Eni, Shell, Evonik, Microsoft, Nationwide, Henkel, CONSOL Energy, Suramericana, ING and Cemex. Hubwoo's global partnerships include GEP, SAP, IBM, and TrustWeaver.

Hubwoo has major operations in Paris, Houston, Chicago, Bonn, London, Manila, and Leuven. Hubwoo is listed in Compartment C on the Euronext Paris Eurolist.

ISIN: FR0004052561, Euronext: HBW, Reuters: HBWO.PA, Bloomberg: HBW:FP

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SOURCE Hubwoo