Maconomy Continues Growth

The international ERP supplier Maconomy today released its annual report for 2008. The growth in both revenue and profit underlines the value of a strong focus on costs, as well as increased diversification across countries and industries. Maconomy US grew license sales 22%.

COPENHAGEN--(EON: Enhanced Online News)--Maconomy, the international supplier of industry-specific ERP solutions for Professional Services Organizations (PSO), continued its growth in 2008. The financial results for the fiscal year 2008 were revealed today, showing a revenue increase of from 38.0 million USD in 2007 to 39.4 million USD in 2008. Additionally, earnings before depreciation (EBITDA) increased by 27 percent.

“Overall, 2008 has been challenging but also satisfying for Maconomy. In a global market where decision-makers hesitate and exchange rates are falling, we have been able to create progress on both top and bottom line by landing new strategic customers and continuously keeping an eye on costs. Most of our international markets show strong growth rates, and we are very proud of that,” says CEO Hugo Dorph, Maconomy.

Double-digit growth in the US

With license growth of 22% Maconomy US experienced first-hand how Professional Services Organizations continually look to Maconomy for solutions that will optimize their operations in the face of the global financial crisis.

“In these challenging financial times there is an increased focus on client profitability, project profitability and utilization rates among Professional Services Organizations. In the US market we are happy to be able to offer strong solutions to our customers within this segment, which will help the companies strengthen their internal systems and procedures,” says Steen Andersen, President, Maconomy US.

Maconomy reiterates strategic ambitions

“The economic turbulence we presently experience requires the ability to adjust all levels of the business. The fact that we managed to create growth of almost 30 percent in the consulting segment under difficult conditions is clear evidence that Maconomy has the products and skills to deliver results in a challenging economic climate,” says CEO Hugo Dorph, Maconomy.

Maconomy completed its growth plan “Roadmap for Growth” in 2008 and now looks towards 2009, where flexibility will once again be in high demand. The positive results in 2008 have encouraged Maconomy to reiterate its ambitions, even in the face of an uncertain forecast for the world economy.

“2009 will be another challenging year on the global markets for everyone. This calls for a proper balance between visions and adaptability, and that is something we work with every day. We achieved satisfactory results in 2008 and we have a solid customer pipeline to rely on as we continue to move forward at Maconomy and develop our organization and product,” says CEO Hugo Dorph, Maconomy.

“Our books show us that Maconomy is in a strong position and we are on track to reach the goals we set out to reach. We expect an increase in our earnings before depreciation in 2009 and have faith in our business and our products. Therefore we have not lowered our sights even in these challenging times. We maintain our long-term goal of becoming a leading supplier of ERP solutions to the Professional Services segment,” says CEO Hugo Dorph, Maconomy.

About Maconomy (www.maconomy.com)

Maconomy is a global supplier of industry-specific business solutions for project- and service-oriented companies (“Professional Services Organizations”). Maconomy provides services to approx. 600 customers in 50 countries through offices in the US and Europe, and through a comprehensive partner network. More than 118,000 users worldwide use Maconomy’s business solutions. Read more at www.maconomy.com.