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Author: Katharina Grimme
German SAP services provider iTelligence has reported preliminary Q3 revenues of €41.7m, up 20.2% on Q3 2005. EBIT remained stagnant at €2m, with an EBIT margin of 4.9%.
Revenues in Germany grew by 26.8%, by 7.7% in the rest of Europe, and by 22.1% in North America. iTelligence confirmed its guidance of full-year 2006 revenues of between €150-160m, and expects to be at the upper end of this estimate, with a slightly higher EBIT margin compared to FY 2005.
Comment: This is an overall positive result, with growth in all regions and divisions. iTelligence is clearly benefiting from the market upturn in Germany, and from the recovery of the project services market (notably consulting).
As we said before (see EuroView Daily Comment, 2 August 2006), the company is firmly on the growth path. It will now have to focus on further improving its profitability and on a sustainable balance of revenues across the three divisions, as well as across geographies, in order not to run into problems (again) should a market segment experience a downturn.
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