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Single-brand strategy for further international growth: PC-WARE becomes COMPAREX
IT service provider posts record results for 2010/11
The single-brand approach is designed to support the company's growth strategy, on the basis of which a standardised portfolio is to be phased in gradually at all regional enterprises within the Group over the next three years. Alongside software procurement and licence management, the Group will offer an extensive range of consulting and other IT-related services. Over the course of the next three years, the company also aims to double its sales revenue, which currently stands at approx. EUR 975 million (preliminary figure for the financial year 2010/2011).
As part of the first phase, the company name of the German-based entities has been changed with immediate effect. By late 2011, all international companies within the Group are to trade under the COMPAREX name within their respective markets.
In rebranding the Group, COMPAREX has responded to current trends in the field of information technology and the requirements of its customers, whose demand is for vendor-independent services from a single source and flexible IT infrastructures. With the boundaries between mainframe data centre and server-client infrastructures becoming increasingly blurred, the distinction between services provided "up to" and "behind" the steel doors of large-scale data centres is now of less relevance to many companies. COMPAREX is looking to align its portfolio accordingly by pursuing a single-brand approach.
In parallel with the announcement of its rebranding, the PC-WARE Group has released its preliminary results for the financial year 2010/11 – the best ever since the inception of the company. Total revenue rose by 17.1% year on year to an all-time high of EUR 975 million. This strong performance was attributable in particular to organic growth within the Group. In line with targets set at the beginning of the financial year, EBITDA for 2010/11 amounted to EUR 17.0 million. The forward momentum generated by the Group was also reflected in its EBIT, which rose to EUR 10.7 million, significantly up on last year's figure. Benefiting from its seasoned equity offering implemented in the financial year just ended, together with its favourable earnings performance, the Group has now accumulated equity of ca. EUR 149million. Its equity ratio currently stands at 43.6%. The preliminary financial results are unaudited. They have yet to be approved by the Supervisory Board.
Statements by Klaus Elsbacher, CEO of the COMPAREX Group:
"In pursuing a single-brand approach that spans all regions and our entire vendor-independent product and service range, we have created a distinct, easily recognisable profile both for our brand and for our portfolio."
"Having extended our international presence significantly in recent years, we now operate with 75 offices in 28 countries and offer a comprehensive range of services centred around software and IT infrastructure. Looking ahead, it is essential that we have a brand name that its global, timeless and future-proof, and one that captures the essence of our expanded portfolio."
"Our goal is to double our sales to two billion euros in the next three years. To achieve this, we will be looking to extend our position in established markets and gradually evolve our entire portfolio of Software, Consulting and Services in all of the markets targeted by our Group. Growth will be supported by acquisitions."
To access the company's social media release, with extensive multimedia material, please visit http://comparex.fleishmaneurope.de/...
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