Hubwoo announces financial information for H1 2014
- Revenue down 11% as compared to H1 2013
- EBITDA at 14% of Revenue, stable as compared to H1 2013
- EBIT positive
PARIS, Aug. 28, 2014 /PRNewswire/ -- Hubwoo (Euronext: HBW.NX), a leading provider of comprehensive spend management and business process collaboration solutions, today announced financial information for H1 2014, in accordance with the "European Transparency Obligations Directive" financial disclosure requirements.
Greg Mark, Hubwoo CEO commented: "Although we are disappointed with the decline in SaaS revenue, we are neither surprised nor alarmed as we have been communicating for the past several semesters that this would occur. We are pleased, however, with the management of our costs leading to EBITDA at 14% of Revenue and an EBIT positive result. Net new sales remains our primary focus in 2014 as we work to reverse this recent trend in Revenue decline. Additionally, investment remains strong in our own intellectual property, especially around the automation of Source-to-Settle business processes."