WAALWIJK, The Netherlands, May 2, 2011 /PRNewswire/ -- The Management Board of DOCDATA N.V. announces the following interim notice.
DOCDATA N.V. (Waalwijk) has closed the first quarter 2011 with a profit. The revenue has strongly improved compared to the first quarter 2010, predominantly as a result of the growth of the activities of the E-commerce service company Docdata in Germany and the Netherlands. The revenue improvement is also caused by the activities of the former Dohmen Solutions Group, which were acquired per 16 April 2010. The E-commerce service company Docdata has closed the first quarter 2011 with a better revenue and result. The revenue of IAI industrial systems has decreased compared to 2010, due to the fact that IAI had delivered several large orders in the first quarter 2010. As a result of this, the operating income (EBIT) and the profit of the Group for the first quarter were lower than in 2010.
DOCDATA N.V. has maintained its strong financial position during the first quarter 2011. Per 31 March 2011, the solvency ratio amounted to 53.6% (31 December 2010: 49.3%) and the Company's liquidity resulted in a net cash surplus of over EUR 3.3 million (31 December 2010: EUR 5.8 million). The net cash surplus has decreased during the first quarter 2011, predominantly as a result of a much higher working capital per 31 March 2011 compared to 31 December 2010.
The management of DOCDATA N.V. does not give any quantified expectation regarding revenue and results for the whole year 2011. DOCDATA N.V. will announce the 2011 half-year results on Thursday 21 July 2011 before opening of the stock exchange.
E-commerce service company Docdata
Revenue and results of the E-commerce service company Docdata have increased during the first quarter 2011 compared to the first quarter 2010, primarily due to a much higher transaction volume in 2011. Based on our current client base, we expect further growth for the remainder of 2011 as well, with only a limited impact of non-recurring costs on the 2011 profit, contrary to the previous years 2009 and 2010.
The focus of the E-commerce service Company Docdata will be on further growth within the existing markets in 2011, with the possibility of acquisitions to strengthen our position. In Waalwijk an additional logistic centre is being built at the moment, initially with 16,000 square meters, to accommodate the further growth of the fulfilment services in the Benelux. This new location is expected to become operational in the fourth quarter of 2011. Furthermore, we have recently opened an additional warehouse of 8,000 square meters in Berlin to which 10,000 square meters will be added in the third quarter of 2011. Due to continuous competition, we experience further price pressure in the market for e-commerce services. We can only resist this by offering every day the best service to our clients.
Technology company IAI industrial systems
In line with the planning, IAI industrial systems has delivered only a single large system in the first quarter 2011. In the first quarter 2010, the second part of the Bulgarian order was delivered, which had a substantial influence on revenue and results in 2010. The revenue value of the order book has decreased to EUR 6.6 million as per 31 March 2011 (order book as per 31 December 2010: EUR 8.4 million). The delivery of systems that are currently in the order book, is predominantly scheduled for 2011. The order book is lagging behind at this moment, however the pipeline with prospects is well filled. The main part of this is expected to lead to deliveries from 2012 onwards. In the markets in which IAI operates, the lead time of a prospect to materialise to an order is often long. This can, as an example, be due to political decision making processes in the market for government assignments. IAI only has a very minor influence on this.
The focus of the technology company IAI industrial systems is on the realisation of orders worldwide in existing and specifically defined markets through the development of innovative solutions based on proven systems. Considering the order book of IAI as at 31 March 2011, combined with the length of the time between an order and the completion and delivery of systems at the client, lower revenues and results for IAI are expected in 2011 compared to 2010.
General Meeting of Shareholders
The annual General Meeting of Shareholders of DOCDATA N.V. will be held on 15 June 2011, 14.00 hours (CET) at Hotel NH Waalwijk in Sprang-Capelle. The agenda for this General Meeting of Shareholders and the meeting documents, including the 2010 Annual Report, the 2010 Remuneration Report and the proposal to amend the Articles of Association of DOCDATA N.V., have been published last 29 April. The manner in which to register to attend this meeting, as well as how to cast vote through the Internet or by proxy, is described in the convocation. All these documents are available for inspection and can be obtained through the Corporate website of the Company, http://www.docdatanv.com.
The listed DOCDATA N.V. exists of two lines of business:
E-commerce service company Docdata (http://www.docdata.com) is a European market leader with a strong basis in The Netherlands, Germany and the United Kingdom. Docdata offers a complete e-commerce service portfolio to clients, enabling them to be successful on the internet.
Technology company IAI industrial systems ( http://www.iai-industrial-systems.com) is a high tech engineering company specialised in developing and building systems for very accurate and high speed processing of all kinds of products and materials. IAI delivers clients globally in the following sectors: securing and personalising of security documents, processing of solar cells and modules and processing of other materials and products.
Corporate website: http://www.docdatanv.com