Johannesburg, 26 Apr 2017
SPI, the African distributor for utility software products and services to the open systems segment of the IT industry and the southern African reseller for Esker, a leader in document process automation solutions, today announced the latter's Q1 2017 sales revenue amounted to EUR18.7 million, a 15% increase over Q1 2016.
These results include the sales revenue of recently acquired German company, e-integration. With EUR0.9 million in sales revenue, e-integration achieved 16% growth over the same period in 2017. This performance is slightly higher than expected and reinforces the relevance of the acquisition for Esker.
With or without e-integration's contribution, Esker has once again experienced its most successful quarter in its history. The excellent performance of Esker's cloud-based solutions largely offsets an unfavourable base effect on the more traditional and legacy products, which, as previously announced, was due to several large non-recurring deals recorded in the first half of 2016.
Total revenue related to Esker's cloud-based solutions increased 31% in Q1, representing 84% of total company sales revenue. This growth is due to a high volume of customers that signed in 2016 and are now entering production, as well as the increased use of Esker's solutions by existing customers.
Esker confirms it expects to achieve double-digit organic growth in 2017. Factors such as recurring revenue (77% of sales in Q1) and a record number of new contracts signed (a cumulative value of more than twice the signed contracts in Q1 2016), will fuel the company's growth for 2017 and the years ahead.
For further information, please contact Chris Anderson at tel: +27 11 234 1560; fax +27 11 234 1387; e-mail chris@spi.co.za.
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