Qurius H1 Results 2010

QURIUS MARGINALLY POSITIVE FOR H1 2010 INCLUDING SALE OF INFOR BUSINESS

Zaltbommel, 22 July 2010 – In the first half of 2010 Qurius’ net sales decreased with EUR 7.3 million to EUR 54.0 million, compared to H1 2009. In H1 2010 an EBIT before restructuring costs of EUR 2.4 million was achieved (2009: EUR 2.1 million). This result includes the result of the sale of Infor business of EUR 3.1 million. Including restructuring costs the EBIT amounted to EUR 0.3 million (2009: EUR 1.5 million). The net result in H1 2010 was EUR -0.1 million (2009: EUR 0.0 million).

Infor, OneDev and Evidanza
Qurius has made the strategic decision to sell its Infor ERP LN business to Infor and to invest in complimentary technology and people to strengthen its proposition as leading system integrator. Qurius recently hired a development team from OneDev in the Netherlands and last week announced the acquisition of a BI consulting team from Evidanza, currently a strategic BI partner in Germany. 

The Infor business was non-core business for Qurius. The unwinding of our Infor ERP LN business includes around 55 ftes, mainly consultants, from Germany, Spain and Italy. The Infor business was not a major line of business to Qurius and does not qualify as discontinued business under IFRS and is therefore not presented as discontinued business in 2009 and 2010. Net sales from the Infor ERP LN business YTD (until June 2010) is EUR 5.8 million. EBIT contribution YTD (until June 2010) is EUR 1.2 million. Proceeds from the sale are EUR 4 million in cash. The transaction result amounts to EUR 3.1 million and is presented under other income.

Interim financial report of H1 2010
This press release contains the financial highlights of H1 2010. We will issue our full interim financial report of H1 2010 on 19 August 2010.

For the full report click here.

Contact: Suzanne Schaapman, Manager Corporate Communications and Investor Relations, s.schaapman@qurius.com