updated 3/17/2011 4:46:36 AM ET 2011-03-17T08:46:36

AARHUS, Denmark, March 17, 2011 (GLOBE NEWSWIRE) -- Trifork's board of directors today approved the annual report for the fiscal year ending December 31, 2010.

Summary

  • Revenue amounted to DKKm 142, corresponding to a 16% increase from DKKm 112 the previous year.
     
  • Earnings before interest, tax and depreciations (EBITDA) was DKKm 20.1 (compared to DKKm 10.6 for the fiscal year 2009) corresponding to a 90% increase.
     
  • Earnings before tax (EBIT) was DKKm 11.8 (compared to DKm 4.1 for 2009), corresponding to a 190% increase.
     
  • The average number of full time employees throughout the year was 101, revenue per employee rose 27% from DKKm 1.1 to DKKm 1.4.

Highlights in 2010:

  • Strategy for internationalizing the business is being implemented as planned, yielding positive results.
  • "Trifork Public" has been a principal innovator in products and functionality for several government services including "the national shared medicine card", "the Danish registry of citizen's vaccinations" and "emergency ward systems".
  • "Trifork Academy" has developed a new brand and concept for GOTO conferences (gotocon.com), and has been involved in designing and organizing conferences in Aarhus, Denmark, London, San Francisco, New York, Brisbane and Melbourne.
  • "Trifork Finance" have seen a break through in mobile apps, where Trifork is now a market leader in mobile home banking.
     
  • The board proposes a dividend of DKK 0.15 per share corresponding to 35% of the mother company's (Trifork A/S) share of the earnings; to be approved on the General Meeting to be held April 11, 2011.
     
  • For the fiscal year ending December 31, 2011; Trifork's management expects a revenue of DKKm 170, corresponding to approximately 20% growth.  EBITDA is expected to be DKKm 25, corresponding to an EBITDA-margin of approximately 15%.


"These results were reached in spite of some business areas being affected by the financial crisis in the first half of 2010.  During the second half of 2010 the company has succeeded to get positive developments in those areas, and because of that we have reached an EBITDA for the entire year, which is more than 1 million danish kroner above the expected results.  We have been able to optimize the organization, and at the same time several of the investments made in the areas of government health care and mobile apps are really beginning to bear fruit.  We have also seen an increased interest in the company's conferences for software professionals, where the last two have been sold out.  This trend is also visible in our training activities. So all in all it bodes well for the results this year, and the group's further growth", says CEO Jorn Larsen

A summary of the annual report for the fiscal year ending December 31, 2010 is attached to this message.  An extended version will be available from the company's website in a few days.

Regards,
The board of directors for Trifork A/S

         Jorn Larsen, CEO
         Direct +45 4072 8483

Attachments:

Trifork Annual report 2010_02_UK_summary.pdf

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