Trifork A/S - Quarterly Announcement Q3-2013

AARHUS, Denmark, Nov. 7, 2013 (GLOBE NEWSWIRE) --

Development in accordance to plans

After Q3 Trifork expect to increase the revenue in 2013 from DKKm 245 to a total of DKKm 255 and to maintain an EBITDA-result for the year of DKKm 32.

Financial development

  • Revenue for Q3-2013 totaled DKKm 61.6 corresponding to an improvement of 38% compared to the same quarter in 2012.
  • For Q1-Q3, 2013 revenue was DKKm 188.5 representing an increase of 29% over the same period in 2012.
  • EBITDA profit for Q3-2013 totaled DKKm 9.8, which is an improvement of 42% to the same period in 2012.
  • For Q1-Q3 2013 EBITDA was DKKm 19.1, which is 5% below the same period in 2012.
  • EBITDA-margin for Q3 ended at 15.9% resulting in a total margin of 10.1% for the period Q1-Q3 2013.

"The results for Q3-2013 are satisfying. The level of activity in the different parts of the company is good, and consequently we believe that we can achieve the announced financial goals for the year," says CEO Joern Larsen.

Significant events in Q3-2013

  • Trifork announced that the company is considering a delisting from OMX NASDAQ Copenhagen.
  • Trifork and Erlang Solutions made an agreement with OpenCredo, a London based software company about a phased acquisition of up to 60% of the company.
  • Trifork achieved additional 4% ownership of C4Media, a Canadian company.

Outlook for Q4-2013

  • Trifork expects a positive development in profit margins. This based on optimizations carried out in Q3 and current forecasts for the quarter. Higher profit-margins are expected due to a high utilization of resources is predicted in profitable projects in Q4.

About Trifork

Trifork was founded in 1996 and is listed on NASDAQ OMX in Copenhagen. It is an innovative software development company focusing on Mobile, Agile and Cloud. It develops and delivers business critical IT systems for several sectors including finance, healthcare, government, manufacturing and telecom. Trifork employs 265 people in 12 offices in Aarhus, Copenhagen, Esbjerg, London, Zurich, Amsterdam, Krakow, Budapest, Stockholm and San Francisco. At the end of 2012 Trifork had a market value at DKKm 243 / EUR 33M, with a turnover in 2012 of DKKm 223 / EURm 30.

Kind regards,

Board of directors, Trifork A/S

Trifork A/S


DK-8000 Arhus C, Denmark

CVR-no. 20921897

ISIN DK0060102887

Shortname: TRIFOR

Phone: +45 8732 8787

Fax: +45 8732 8788


CEO, Joern Larsen

Direct: +41 79 430 9697

E-mail: jla@trifork.com

Source:Trifork A/S