Press release
Qurius reports substantial sales and profit increase in the first half-year
in euro x 1,000
First half of 2006
First half of 2005
22,177
2,970
3,063
2,099
14,853
1,747
1,194
740
Net sales
EBITDA
EBIT
Net result after taxation
July 20, 2006 – Due to an excellent second quarter, Qurius N.V. recorded net sales of 22.2 million
euro, an increase of 49% compared to the same period in 2005 (14.9 million). Operating result was
2.4 million euro (excluding the result of the sale of Magnus Management Consultants for an amount of
0.6 million euro) versus 1.2 million euro in the first half of 2005. Qurius’ net result after taxation was
2.1 million euro (first half of 2005: 0.7 million).
In the first half-year, Qurius fine-tuned its profile as Microsoft specialist and implemented the name
change from Magnus Holding N.V. into Qurius N.V. This strategy change resulted in the sale of
Magnus Management Consultants in June 2006.
A remarkable order was awarded by trade union confederation FNV: the implementation of a new
Microsoft based enterprise-wide IT system. All Qurius’ business lines assist in this project, which is one
of the largest ‘Microsoft Integrated Innovation’ projects in the Netherlands. In June, a record number
of 18 new clients bought an industry-specific business system from Qurius Business Solutions. These
orders are partly joint projects for multiple business lines.
Results per business line
Net sales of Qurius Business Solutions in the first half of 2006 amounted to 13.0 million euro
(H1 2005: 9.4 million). Net margin (sales minus software purchases, maintenance and subcontractor
costs) was 10.2 million euro (H1 2005: 7.2 million). EBIT was 2.2 million euro (H1 2005: 1.1 million).
Qurius Advanced Solutions recorded net sales of 2.4 million euro (H1 2005: 1.1 million). EBIT was
0.5 million euro (H1 2005: 0.2 million). Net sales of Qurius Infrastructure Solutions amounted to 3.5
million euro (H1 2005 as of April 1st: 1.0 million). Qurius’ half-year results still include Magnus
Management Consultants results: sales of 3.2 million euro (H1 2005: 3.3 million) and 0.4 million euro
EBIT (H1 2005: 0.3 million).
Profit and loss account
EBIT amounted to 3.1 million euro (H1 2005: 1.2 million), including the proceeds from the sale of
Magnus Management Consultants at 0.6 million euro and holding costs of 0.6 million euro (H1 2005:
0.2 million). Financial income and expenses amounted to 0.1 million euro negative. Profit before
taxation amounted to 3.0 million euro (H1 2005: 1.1 million). Taxation on ordinary results amounted
to 0.9 million euro (H1 2005: 0.3 million). Result after taxation is 2.1 million euro (H1 2005: 0.7
million).
Qurius N.V.
Press release
Balance sheet
Total assets amounted to 23.1 million euro and group equity to 14.0 million euro. 2.1 million euro of
the shareholders equity strengthening is due to the net result. Also, Qurius received 0.5 million euro
by selling own Qurius shares.
Cash flow and financing
Cash flow from operational activities amounted to 1.4 million euro, mainly due to the result and a
working capital investment. Cash flow from (di)investment activities was nearly nil. Asset investment
of 0.5 million euro was compensated by the deconsolidation of Magnus Management Consultants’
assets. Cash flow from financing activities amounted to 0.6 million euro negative, mainly due to
repayment of the long-term loan and decrease of the credit facility use for 1.1 million euro. This was
compensated by sale of own Qurius shares for 0.5 million euro.
Staff
After the sale of Magnus Management Consultants Qurius had 263 staff members (June 30, 2005:
308, including 80 at Magnus Management Consultants). The spread over the business lines is as
follows: 196 people work for Qurius Business Solutions (June 30, 2005: 164), 32 for
Qurius Infrastructure Solutions (June 30, 2005: 33) and 32 for Qurius Advanced Solutions (June 30,
2005: 30). Salaries, pensions and social security contributions amounted to 9.4 million euro
(H1 2005: 7.1 million).
Looking ahead
“In the past months, the fine-tuning of our profile has proven its value, judging by the result, the
order portfolio and the spread of projects over our business lines. During this last half-year, margins
have reached the required levels. In the second half-year, we’ll invest in recruiting and retaining
employees and strengthening our Microsoft solutions and services. Furthermore, we are actively
searching for acquisitions that will add to the realization of our strategic goals. Based on the first half
year results and the pipeline we expect a sharp increase in net result compared to the year 2005”,
says Fred Hermans, Qurius’ Chief Executive Officer.
Qurius N.V.
Qurius provides architecture, realization and systems management of Microsoft technology based
business and IT solutions, including reliable and safe infrastructures. Qurius is Inner Circle Member
and Gold Certified Partner of Microsoft with over 450 customers. Qurius is based in the Netherlands
and Belgium and has been publicly listed on Euronext Amsterdam since 1998 (up to 11 May 2006
under the name of Magnus Holding). Further information is available on its new website:
www.qurius.com.
Contact
Qurius, Caroline Jooren: telephone +31 (0)418 683 500 6 or [email protected]
Qurius N.V.