Graphisoft's Q1 Financial Results In Line With Company's Aggressive Goals
Share price more than doubled during this three month period
Budapest, May 9, 2000 - Graphisoft (Frankfurt Neuer Markt: GPH) today announced Q1 financial results with 7.2 million EURO in revenues, an increase of 25% over the same period of 1999. While growing aggressively, the Company maintained its traditionally high profitability with a net income at 22.8 % of revenues. The results are in line with the goals set for year 2000, and disclosed in Graphisoft's 1999 annual report. Shares of the Company's stock also shot up from €10.1 on January 3 to €22.4 on March 31, 2000.
|Key figures (in thousand €)||3 months ended March||% of change|
|Net income per share (€/share)||0.16||0.16||-1.3%**|
*Acquisitons and other changes in the structure of the Group have significantly influenced spending.
**Because of rounding
"The latest version of our flagship product, ARCHICAD is being equally well received in all markets that it enters," explained Graphisoft President and CEO Gábor Bojár. "Furthermore, our decision to place a secondary listing of our shares on the Budapest Stock Exchange attracted the interest of many important analysts. Coupled with our strong performance, this affected the valuation of the Company positively."
The release of additional localized versions of ARCHICAD 6.5 into several strong markets was the main motivation behind the impressive revenue increase. European sales accounted for approximately two-thirds of revenues, contributing €4.7 million. The UK experienced the quarter's most dynamic growth, with a massive 95.6% increase in revenue from ARCHICAD sales alone. With the additional revenue source provided by the acquisition of the UK-based CYMAP Ltd, the increase amounts to 233.5%. Switzerland and France followed with a growth of more than 80%, and Germany remained the Company's largest market, adding €1.6 million to total revenues.
Revenues from North America rose by 20.6% to €1.1 million compared to the same period of 1999, while sales in the Asia/Pacific region bested its Q1 1999 results by 15.5%. The 163.4% growth in the formerly flat Rest of the World is encouraging. The Spanish and Portuguese versions of ARCHICAD 6.5 will be released in the second quarter, and are expected to further boost revenues in Latin America.
Operating expenses increased by 37%, as Graphisoft continued to realize its investment strategy during the first three months of 2000. The acquisition of CYMAP Ltd. and further improvements in the workforce contributed to the costs.
The full first quarter report can be found at http://www.graphisoft.com/investor_center/financial_reports/2000_q1/.
Graphisoft is a leading provider of computer-aided design (CAD) software solutions for the architectural profession and the building industry. Founded in 1982, Graphisoft is ranked today among the largest AEC CAD software developers in the world, with 12 offices all over the world in addition to its headquarters. Graphisoft's flagship product, ARCHICAD, is used by more than 75,000 architects worldwide and distributed in 25 languages and 80 countries. Shares of Graphisoft are traded on the Frankfurt Stock Exchange Neuer Markt under the symbol GPH. More information about Graphisoft is available at www.graphisoft.com.