Unit 4 Agresso Q3 revenue down 6% even as EBITDA rises 13%

Business software developer Unit 4 Agresso has reported a 6% decline in revenue at E90.1m ($133m) for the third quarter 2009, compared to E95.7m in the same period last year. The company does not report detailed quarterly results.

The Netherlands-based company said gross margin during the quarter increased to 91.2%, compared to 90.2% in the same quarter last year. EBITDA rose 13% to E18.9m ($27.9m) due to synergies and cost savings. EBITDA margin during the quarter was 21%, compared to 17.5% in Q3 2008.

The company reported significant orders during the quarter, and good growth in the UK public sector. A number of deals which were expected in the beginning of Q4 closed during the quarter.

During the quarter, the company formed an accounting joint venture FinancialForce.com with enterprise cloud computing company Salesforce.com to build and distribute finance and accounting software in the cloud.

Unit 4 Agresso CFO Edwin van Leeuwen, said: "Although it is too early to say that the economy is improving, we are glad that we have reduced the pressure on Q4. For Q4 we need only a slightly higher EBITDA than Q3 to make our target. It is encouraging to see us continuing to win substantial deals for Agresso and CODA, particularly in competition with the large, traditional ERP players."

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