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Sales of Agresso and CODA buck market trend

21st Oct 2008
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• Continued success and growth as a combined organisation
• 37% increase in revenues in Q3
• Strong UK sales buck market trend and bolster figures

Unit 4 Agresso, global business software developer, has reported strong third quarter sales, despite the difficult economic environment, with a 37% increase in revenues over the same period last year, to €95.7m (£74.7m).

Strong global sales, including some sizeable deals, were made in both the UK public and private sectors, helping to bolster Group figures. Historically the third quarter shows low activity levels following the summer period, but this year showed an above average intake of significant new orders for the group.

The largest order was achieved in the public sector in France (> €2 million). In the UK, the activity level was high and a number of significant orders (> €1 million) were booked in both the public and private sectors in the quarter, including Engage Mutual, Homeloan Management Ltd, The General Medical Council and the Royal Northern College of Music.

“These figures show that despite difficult economic times, we are still growing and with the acquisition of CODA earlier this year, are stronger than ever,” said John Crooks, managing director of Agresso UK. “From talking to customers and winning these deals, we are seeing a clear trend towards more cost effective, flexible ERP and specialist finance packages over traditional ERP which is why we continue to buck the trend. Companies will always need the best solutions, but now more than ever, they need to see what they are getting for their money and need proof that the software will continue to deliver value over time. Tying themselves to costly and lengthy implementation projects with a vague promise of delivering value three years down the line is something few organisations can afford.”

Q3 results highlights(1)
Third quarter total revenue was €95.7 million, an increase of 37% compared with the third quarter of 2007 (Q3 2007, excl CODA: €70.0 million). Pro forma(2), the revenues grew in line with the forecasted range (7-10%).

The EBITDA increased by 63% to €16.8 million. The EBITDA Margin was almost 18%, compared with an EBITDA margin of 14% in the third quarter of 2007.

Cash flow has developed as planned and the net debt position is comfortably within the agreed covenants.

(1) Unaudited
(2) Q3 2007 including CODA and based upon constant currencies

About Unit4Agresso
Unit 4 Agresso is a leading international producer of business software. With offices in 12 European countries, 9 countries outside Europe and sales activities in several other countries revenues of € 191 million were realized in the first half year of 2008. Unit 4 Agresso is headquartered in Sliedrecht, the Netherlands. Per the end of June 2008 Unit 4 Agresso had 3,527 employees.

About Agresso
Agresso is a mid-market enterprise resource planning (ERP) company and one of the top five providers of ERP solutions for professional services and public sector organisations. Agresso offers a uniquely integrated data/process/delivery architecture designed specifically for Businesses Living IN Change (BLINC) ™. Agresso is known as "The ERP Market's Definition of Agility" as it allows an unlimited amount of ongoing, post-implementation changes without the typical external IT costs and intervention that nets billions of dollars in revenue to the market leaders. For more information, please visit: www.agresso.com

About CODA
CODA is the choice for finance professionals who need business software and services they can count on. We provide award-winning solutions that help organizations to streamline and automate their finance processes (from accounting and procurement to reporting and analysis) and to achieve better compliance and corporate governance. CODA applications work seamlessly with each other or independently and they integrate with other leading operational systems to maximize the return on your broader IT investment too. And our products are all underpinned by expert consultancy, training and support services, delivered by teams of experienced accountants, business analysts and technology specialists. For more information, please visit: www.coda.com, or call:

Emma Hoyle
Group PR Manager
Tel: +44 (0)1423 537 977
[email protected]

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