Athens May 26th 2008: SingularLogic is further strengthening its leading position in the Greek Software Applications and IT Services market, with growth performance significantly ahead of the respective growth in the IT sector. This is highlighted by the quarterly financial results published today by the SingularLogic group.
Specifically:
-Consolidated Turnover euro 22.1mio vs. euro 15.8mio in Q1/07', showing an increase of 39.7%.
-Consolidated Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) euro 4.3mio vs. euro 0.7 in Q1/07', six-fold growth vs. same period last year.
-Consolidated Earnings Before Taxes (EBT) increased by euro 4.1mio, amounting to euro 3mio vs. losses of euro (1.1)mio in Q1/07'.
-Consolidated Earnings after tax also increased by euro 2.5mio, amounting to euro 1.1mio.
During the first Quarter of 2008, Order Book has been further enriched, both for the Private and the Public sector, while the installed base has been continuously increasing through activations of new software applications. Furthermore, Human Capital has grown significantly; the Group now consists of 805 employees of significant expertise and capacity covering a broad spectrum of technologies and solutions. This emphasis on know-how and its effective application to customer projects helped us obtain significant awards like the "Oracle EE & CIS Partner of the Year 2008 - Enterprise Application Partner Award" and the "ΙΒΜ Business Partner Sales Leadership Achievement Award, IBM Retail Store Solutions 2007 - Europe".