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GRAITEC Group reports +16% revenue growth for 2008
Paris, March 2nd, 2009 – GRAITEC, an international developer of 3D modeling, structural design and automatic drawing creation software for construction professionals, reports 24.9 million Euros for the fiscal year ended December 31st, 2008. The turnover has increased by +16% compared to 2007 results.
Good operational progress in 2008
GRAITEC Group consolidated turnover in 2008 amounts to 24.9 M€ and showed a 16% increase compared to 2007. GRAITEC therefore doubled its turnover in a two-year period.
Due to significant currency fluctuations that led to a fall in the value of the British Pound and the US Dollar in 2008, our British and Canadian subsidiaries had their turnover strongly devalued after converting it into Euros. However, without taking into account exchange rate fluctuations and in order to assess the real commercial performance of the Group, the consolidated turnover with an exchange rate similar to that of 2007 stands at 25.9 M€ with a growth of 20%. This major progress is a result of successful sales of the Advance Suite product line along with the continuation of external growth.
Hence, the Advance Suite turnover in 2008 registered a significant growth compared to 2007 ranging from 18% up to 42% in the respective regions.
In addition, the R&D team grew by 20 engineers, thus enabling each region to respond more effectively to meet local product development needs.
The profits registered by the Group in 2008 were also in accordance with the initial forecasts despite significant investments.
The Group also launched new corporate branding, better supporting the company and its products on an international level.
International growth through the acquisition of 3 companies and the extension of our reseller network
In 2008, GRAITEC acquired 3 new companies, Integer Software in the UK, CSI in Germany and abc service in France, thus enabling the Group to strengthen both commercially and technically.
GRAITEC also extended its international resellers' network with the signing of new distribution agreements in Spain with CAESoft, in Japan with FORUM 8, for UAE market with IMAGE GRAFIX and in India with ParasCADD.
New partnerships have also been concluded early 2009 with CHEMPUTE Software in South Africa and NA. TECNOLOGIA in Brazil. All the new resellers are very enthusiastic about the sales potential and capabilities of our solution.
A new office in Singapore was also set up due to significant demand from all across Asia-Pacific and in line with expansion plans to serve and support our growing number of clients and partners across the region. This new office has allowed GRAITEC to cover the Asia-Pacific territory since July 2008.
Francis Guillemard, CEO of GRAITEC, comments: "In 2008, GRAITEC made progress in every area and made huge investments in R&D to localize the Advance Suite range of products depending on the needs of each country into which we have either subsidiaries and/or resellers. We are ready to take up the challenge in 2009 even though this year is likely to be tough for all industries. We will keep our focus on gaining new shares in foreign markets. We have just created a new subsidiary, GRAITEC Russia, based in Moscow that will start operations with the sales of the Advance Suite product line in March 2009. Our commercial potential enables us to forecast an organic growth of 8% in 2009 since we expect a turnover of 27 M€ together with trading results corresponding to 10% of the turnover."