IT2 Announces Strong 2009 Results
22 June 2010
IT2 Treasury Solutions Limited, a leading provider of treasury management software solutions to corporate treasuries and financial institutions, reports strong growth across its business globally in the fiscal year ended 31st December 2009. In terms of revenue, turnover grew by +27% to GBP 9.733 million, with an EBIT (earnings before interest and taxation) of +16% (GBP 1.619 million).
During the year, IT2 signed 19 new clients, including Costco Wholesale Corporation, MAG Group, Etihad Airways, Schroder Investment Management and Tyco International, bringing the company’s total number of clients to more than 230 worldwide. In addition, IT2 completed 18 new client implementations and 28 upgrades.
IT2 Chairman Tommy Valther Hansen, partner at the private equity fund CapMan - the main owner of IT2 comments: “I am delighted with IT2’s excellent performance. 2009 was a most challenging year for the global economy. Nevertheless the demand for IT2’s best practice solutions remained strong in this demanding commercial environment. When we invested in IT2 with the CapMan Technology 2007 fund, we were looking to create permanent and long-term added value. We are happy to make continued robust reinvestment of profits in the company, which has consistently proved its growth potential and profitability over the last three years. In particular, I am satisfied to see that our strategic goals for the North American market are being fulfilled beyond our expectations”.
“IT2 has a strategic commitment to continued growth and profitability through the delivery of superior business solutions for our clients,” adds Kevin Grant, IT2’s CEO. “We are maintaining a high level of sustained investment in software and services delivery infrastructure: our professional team grew by more than 30% over the year and we have invested in upgraded regional offices to ensure we have the delivery and support capabilities to live up to our success. I am very pleased to verify that the market is responding well, and that in addition to securing prestigious new reference clients, many existing clients have shown their support by adding new modules of our product suite or by extending their use of the IT2 system within their global operations. IT2 benefits from its unique positioning, as the only global player solely focusing on the treasury space - and providing a fully integrated treasury management solution.”