11 March - IBX, the pioneer in the field of e-purchasing services and solutions, has today announced its annual results including profitability increase of 44 percent during 2008 (EBITDA increased from MSEK 30,5 to MSEK 44). In spite of the global economic downturn IBX has continued to consolidate its position in existing markets, such as Sweden, Denmark, Germany and the UK and has established new offices in Italy and the Benelux countries. In 2009, IBX expects continued growth, delivering efficient purchasing as an offensive tool to help customers to beat the recession.
“During 2008 we consolidated our position in key markets in Europe, continuing to grow and improving our profitability significantly. As a foundation for further expansion we have established offices in Italy and Benelux, refreshed the management structure and developed new products and services. The current economic situation is challenging, but also opens up new opportunities to find organisational efficiencies. I feel confident that 2009 will be a successful year for IBX,” says Leif Bohlin, CEO of IBX.
Key figures 2008:
• Earnings before depreciation (EBITDA) increased by 44 percent to MSEK 44 (MSEK 30,5)*
• IBX improved their earnings before tax to MSEK 7,2 (MSEK 2,5)
• IBX increased its net revenue to MSEK 318 (MSEK 311)
• IBX operational cash flow remains on a high level at MSEK 40,0 (MSEK 53,8)
• IBX has operations in 9 countries in Europe and has operational purchasing solutions for clients in 90 countries globally
• At the end of 2008, IBX had 127 (98) buying companies and 3500 (2,125) affiliated catalogue supplier companies
• Procurement volume in 2008 was 2,0 million POs with an order value of 11,9 BEUR
• Total number of transactions through IBX’s systems in 2008 was 7 million
Throughout 2008, IBX has re-negotiated and extended contracts with existing customers including SEB, Lego and Deutsche Post. Furthermore, the company has grown by winning contracts with new clients in existing markets, such as ALK-Abelló and Allianz. With these long-term commitments from clients, IBX looks forward to continued expansion into new markets.
In the current economic downturn; identifying savings opportunities comes top of the management agenda. Purchasing typically equals 40 to 60 percent of a company’s turnover and has an important part to play in realising savings opportunities. IBX’s knowledge and expertise in purchasing and sourcing strategies is therefore even more important in times like these.
“A recessionary environment presents many opportunities from a purchasing perspective. The first step is to get a better understanding of your current cost base before identifying areas where efficiencies might be quickly realised,” said Mark Masterson, IBX UK Country Manager. “As we approach the 2nd anniversary of IBX UK, customers and prospects are looking for sourcing projects that deliver fast ROI, or, activities designed to make existing systems work harder. An efficient purchasing structure helps uncover savings opportunities, sets appropriate strategies for purchasing and ultimately delivers improvements to the bottom-line,” continues Masterson.
* 2007 figures in brackets
