Elecosoft PLC 2018 Trading Update (0688O)
January 25 2019 - 2:00AM
UK Regulatory
TIDMELCO
RNS Number : 0688O
Elecosoft PLC
25 January 2019
Elecosoft Plc
("Elecosoft" or the "Company")
2018 Trading Update
Elecosoft (AIM: ELCO), the AIM-listed construction software and
software visualisation specialist is pleased to announce that its
results for the year ended 31 December 2018, excluding the
acquisition expenses of Shire Systems Ltd ("ShireSystems") and
Active Online GmbH ("ActiveOnline") are expected to be
significantly higher than for the year ended 31 December 2017 and
comfortably in line with market expectations.
The acquisitions of ShireSystems and ActiveOnline, both acquired
in the second half of 2018, have made contributions to revenues and
profits in line with the Board's expectations at the time of their
acquisition. The remainder of the Group has performed well and
continued to achieve year-on-year growth in revenues
notwithstanding the macroeconomic uncertainties and also adverse
exchange rate movements.
Elecosoft's strong trading performance has been underpinned by
its strategy of securing new direct customers, whilst supported by
excellent customer training and support. The success of this
service-centred approach was reflected in continued high renewal
rates.
John Ketteley, Executive Chairman of the Company, commented:
"2018 has been another significant year for Elecosoft with the
acquisition of both ShireSystems and ActiveOnline, which complement
our existing growing businesses.
The acquisition of ShireSystems in July 2018 provided Elecosoft
with an immediate foothold in the strategically important
computerised maintenance management systems market. It also extends
Elecosoft's coverage of software solutions across the life cycle of
property assets and facilities.
ActiveOnline based in Wesel, Germany, which was acquired in
November 2018, will collaborate closely with ESIGN, Elecosoft's
international software visualisation business based in Hannover,
Germany. These two companies have each created and maintain an
extensive visualisation software offering. ESIGN specialises in the
development of software for the visualisation of hard and flat
surfaces, and ActiveOnline specialises in the development of
software for the visualisation of curved surfaces, soft fabrics and
coverings.
These two acquisitions each represent significant milestones for
Elecosoft as a leading developer of co-ordinated BIM led software
systems for use in each stage of a building's life cycle and also
as a developer of internet visualisation tools for the interior fit
out industry."
Enquiries:
Elecosoft plc +44 (0)20 7422 8000
John Ketteley, Executive Chairman
Jonathan Hunter, Chief Operating
Officer
Ben Moralee, Group Finance Director
finnCap Limited +44 (0)20 7220 0500
Geoff Nash/ Kate Bannatyne (Nomad)
Camille Gochez (ECM)
Newgate Communications +44 (0)20 3757 6880
Elisabeth Cowell/Fiona Norman elecosoft@newgatecomms.com
About Elecosoft plc
Elecosoft plc is an AIM-listed (ELCO-GB) software company with
interests based principally in the UK, Sweden, Germany, Benelux,
and the US. Elecosoft develops award winning software applications
and related services to the architectural, engineering,
construction and owner/operator sectors.
Elecosoft delivers a portfolio of software for project
management, estimation, visualisation, Building Information
Modelling (BIM), property management and digital marketing
disciplines.
Elecosoft's software and services are used during early planning
stages through to construction and facilities management, driving
the performance and day-to-day operations of its customers'
businesses.
Elecosoft's broad, and increasingly integrated, product offering
opens up exciting prospects to cross-sell and expand
internationally as it grows its re-seller network
For further information please visit www.elecosoft.com.
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END
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