Lisbon / London / Washington – March 7th, 2013 – Today, WeDo Technologies, a worldwide leader in enterprise business assurance, announced it has closed FY 2012 with its strongest financial results to date, following a focus on customer satisfaction and new project wins, product innovation and growth through acquisition. Furthermore, leading indicators show that the company is well on track to deliver successfully on its ambitious strategy for the period 2011–2015.
WeDo Technologies’ financial highlights for 2012 include:
- Orders and revenues: Grew by 20% and 19%, respectively, in 2012. FY 2012 orders amounted to €62.5 million ($80.1 million) and FY 2012 revenues were €55.1 million ($70.6 million)
- EBITDA (Earnings before interest, taxes, depreciation and amortization): grew 55% to €8.7 million ($11.1 million)
- 12th consecutive year of positive EBITDA
- R&D investment of €2.5 million ($3.2 million), in the company’s RAID product alone, in 2012
2012 key achievements
WeDo Technologies’ success in 2012 was contributed to by a number of key achievements:
- The company won 30 new customers across 16 different countries (WeDo Technologies now has more than 180 customers across more than 80 countries)
- The acquisition of US-based Connectiv Solutions in May 2012 has garnered strong results already and the outlook appears even more promising. Both teams have worked very well together and the company has received good feedback and support from customers
- The development of WeDo Technologies’ latest proven software suite, RAID 7.0, has shown incredible progress. The beta tests have already received remarkably positive feedback. The company believes RAID 7.0, which was launched last month, will be the best version of the enterprise business assurance software – from back end to front end, due to the true collaboration between customers, software development teams and sales and marketing teams across the different geographic regions
- The Middle East and Africa region is showing an excellent and well above average growth within the telecoms industry target market
- In the retail, energy and finance industries, WeDo Technologies’ orders and revenues grew by 91% and 80% respectively
- The company closed 2012 with a team of almost 500 people of more than 20 nationalities
- This set of results is particularly positive given the fact that the company has observed some unsustainable market aggressiveness. This has unfortunately already had a negative impact on one of the industry players and might lead to further market re-shuffle in 2013
“This is a truly record year for WeDo Technologies, with excellent top line growth, sustainable EBITDA growth and continued R&D investment”, commented Fernando Videira, WeDo Technologies’ CFO. “The financial results highlight WeDo Technologies as the biggest and most robust player in revenue assurance and fraud management software in the world and this is down to the extraordinary strategic focus and efficiency of the whole WeDo Technologies team”.
2013 and beyond
The WeDo Technologies’ management team aims to reach the $100 million plus target before the end of 2015, increasing its global market share in telecoms revenue assurance and fraud management software and becoming a multi-industry software company, through its enterprise business assurance software – RAID.
This year, to help make this goal a reality, WeDo Technologies will be actively looking for growth opportunities in Southeast Asia (Indonesia and/or Malaysia) as it continues to build on last year’s acquisition. The company will also set about defining its strategic plan for the 2014-2020 period as market evolution is creating new and important opportunities for companies with the competences, assets and strategic relationships that WeDo Technologies’ possesses.