London, 26 March 2001: OpenLink, (www.olf.com), an industry leader in energy and financial trading and risk management software solutions, expanded dramatically in 2000, continuing the company’s three-year growth trend in revenues, clients and staff. For the year ended December 31, 2000, OpenLink reported annual revenues of $24.1 million while continuing its profitable organic growth strategy, which resulted in a 114% increase in net income.
This new record reflected a 60% increase over fiscal year 1999, with 70% of the 2000 revenues derived from license fees and software maintenance. Other benchmarks included a 61% increase in client sites and more than 100% growth in staffing. During 2000, client highlights included the signing of Nexen, Texaco, Gaz de France and PanCanadian Petroleum, as well as substantial expansion among existing clients, with 70% adding new users or expanding system coverage to include new commodities. The successful product launch of EndurTM 5.0 was a key contributor to the company’s revenue growth and revenue backlog, which increased by 46%.
"Our software’s unsurpassed functionality, flexibility and configurability are attracting the leaders in trading and risk management from both verticals," said OpenLink Founder and CEO Coleman Fung. “To ensure that we continue delivering cutting-edge solutions that support complex business requirements, we reinvested about 70% of our 2000 revenues in product development and support. From New York to London to Houston, our staff has the expertise and experience to maintain our winning track record and aggressive international expansion."
OpenLink Signs PanCanadian Petroleum as Newest Endur User
Leading Fully-Integrated Functionality Will Support Gas & Power Trading & Risk Management
London, 26 March 2001: OpenLink announced that PanCanadian Petroleum Limited has licensed OpenLink’s EndurÃ¤ 5.0 - the leading front-through-back-office solution for energy trading, risk management and operational requirements - for natural gas and power trading and risk management support in both the energy and financial markets.
"Endur gives us the ability to define our trading system the way we see our business," said David Hsu, PanCanadian’s Director, Risk Systems. "We can configure Endur to operate with our proprietary view of the energy markets while preserving a rigorous risk management structure. In addition, we gain the flexibility to support business requirement changes and new market expansions."
OpenLink’s Endur helps manage energy trading functions and operational risk, channelling information into a steady stream for precise decision-making, with real-time accuracy, configurability, flexibility, and scalability. Besides addressing the challenges of changing core energy markets, Endur easily provides trading and risk management support for a wide range or markets, such as coal, soft commodities, metals, currency, interest rates, emissions, weather derivatives and bandwidth.
"The functionality and configurability capabilities of our system were clearly the key factors in PanCanadian’s decision to select Endur," said Adam Walsh, OpenLink Energy managing director. "No system on the market today can do what Endur can. Endur enables PanCanadian to enter new markets, quickly adapt to changing marketplace conditions, and go wherever it wants to in the future."