Cloud computing solutions have become the preferred business model for companies to invest in technology. Esker's license sales have decreased by 18% and now represent only 8% of revenue. Given bahamas email list Esker's strong position in the cloud solutions market, the company sees the opportunity for even greater growth in the coming years.
The company's operating profit stood at 3.9 million euros, down slightly (9%) mainly due to three factors: 1. The accelerated transition to the Cloud is affecting short-term results, as the decline in license sales has not yet been offset by the service-based (SaaS) contracts already signed and currently entering production; 2. The company has made significant investments to strengthen its capacity to develop and improve its solutions, with R&D expenses exceeding 0.58 million euros, 22% more than in 2012; and 3. Fluctuations in the various currencies against the euro, primarily the American and Australian dollars and the pound, have affected 2013 results, with an estimated impact on operating profit of 250,000 euros compared to 2012.
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Net profit up 6%
However, given the positive performance of the year in 2013 and the lower tax rate compared to 2012, the company's net profit increased by more than 6%. Combined with rigorous cost control, this means that Esker generated more than €6 million in operating cash, an increase of 20%.
As of December 31, 2013, after assuming investments and paying dividends (0.7 million euros), the company's cash position stands at 13.4 million euros, two million more than in 2012. In addition, Esker's financial structure is strengthened with a share value of 18.7 million euros and a financial obligation of 1.4 million euros.
