Maconomy US Maintains Revenue in H1 2009 and Improves EBITDA to 13%

BOSTON--(EON: Enhanced Online News)--Maconomy, the international supplier of ERP solutions for Professional Services Organizations (PSO), navigated safely through the first half of 2009. In H1 2009 Maconomy US managed to maintain the revenue level from H1 2008 and at the same time control costs resulting in an EBITDA margin of 13%. Global revenue decreased by 3% (after exchange rate adjustments) to USD 20.3 million however EBITDA improved in the first half of 2009 to a loss of USD 0.4 million from a loss of USD 1.5 million in the first half of 2008, in line with expectations.

“We are very satisfied that we have been able to sustain the revenue levels from last year in the midst of the recession”

“We are very satisfied that we have been able to sustain the revenue levels from last year in the midst of the recession,” says Steen Andersen, President, Maconomy US. “On the brink of 2009 we said that we would prioritize operations over strategy in the first two quarters of the year. Our operational focus has brought savings on staff cost and in other areas, which has already contributed very positively to the bottom line. In this economy we are proud of a profit margin (EBITDA) of 13% in Maconomy US.”

Maconomy maintains its expectations of an EBITDA result for the full year of USD 1.9 million on slightly lower revenue totaling USD 41.1 million.