Hubwoo announces Q4 2013 Revenues

PARIS, Jan. 30, 2014 /PRNewswire/ -- Hubwoo (Euronext: HBW.NX), a leading cloud source to pay solution provider, today announced financial information for Q4 2013, in accordance with the "European Transparency Obligations Directive" financial disclosure requirements.

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Gregory A. Mark, Hubwoo Chairman and CEO commented: "Hubwoo remains focused on profitability as we transition away from the dependency on legacy partnerships of its past. Building a new sales lead engine and converting leads into revenue continues to take time as we remain commited to our customer base who are running legacy SAP applications.  We trust that in time, new revenue streams will be generated by executing on new partnerships such as the one we just announced with GEP."     

Revenues and profitability:

Q4 2013 total revenue was EUR 7.8 million, down slightly (-2%) as compared to Q4 2012. The recurring SaaS component of revenue was EUR 6.6 million, up 5% from the previous quarter as a consequence of seasonal effects and stable as compared to Q4 2012.  SaaS for the year declined by (-5%) versus 2012, while one-time services from implementation projects declined (-19%) against 2012. Overall, total annual revenues decreased (-8%) as compared to 2012.

The company will communicate its profitability indicators at the end of March 2014. Based on first information available to the Company. EBITDA (***) of H2 2013 shows improvements on the H1 2012 figures, resulting in strong progress for the full year as compared to 2012.

(***) EBITDA: Operating result before depreciation and non-recurring items.

Major Q4 2013 events

GEP Alliance

On December 18^th, Hubwoo announced a global alliance with GEP.  GEP and Hubwoo agreed to leverage each other's strengths to provide a joint source-to-pay solution native to cloud, mobile, and touch technologies, and already connected to over one million businesses.

The joint solution will combine GEP's game-changing sourcing and procurement solution, SMART by GEP, a comprehensive, unified source-to-pay platform  -- including spend analytics, sourcing, contract management, supplier performance management and purchasing – native to cloud, touch and mobile technologies, with The Business Network by Hubwoo, an open B2B collaboration and catalog management hub that enables mass supplier enablement.  Suppliers on the Hubwoo Business Network will be able to collaborate on orders, invoices, RFQs, catalogs and other processes directly with buyers on the SMART by GEP platform.

Board update

Mrs. Charlotte Riberprey-Jacob has notified the Board of Directors that she is resigning from the Board on December 20, 2013.

About Hubwoo (www.hubwoo.com)

Hubwoo is a Source to Pay cloud solution provider that enables holistic spend management. Through a combination of the worlds' busiest open and collaborative business network, and innovative procurement applications native to mobile technology, Hubwoo joins Procurement and Accounts Payable processes, connecting buying and supplying companies globally. Hubwoo helps businesses unlock their full savings potential in core and tail spend, from goods to services. 

Significant customers include BASF, Honeywell, Shell, Evonik, EDF, Nokia,  Nationwide, Michelin, Henkel, Statoil, CONSOL Energy, EcoPetrol, Campbell's, Burton's Foods, and The Dow Chemical Company.  Hubwoo's global partnerships include GEP, Microsoft, IBM, and Dun & Bradstreet. 

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

SOURCE Hubwoo