Crimsonwing plc - Interim Directors’ Statement

Friday, February 4th, 2011

On 4 February, Crimsonwing plc published its Interim Directors’ Statement revealing excellent progress across all its business units during the three months ended 31 December 2010 as demand for the Group’s solutions, especially in Microsoft Dynamics and E-Business, increased resulting in new client additions. In fact, Crimsonwing reported a 25% growth in revenue to €10.7 million during the first three quarters of the current financial year with earnings before interest, tax, depreciation and amortisation (EBITDA) also rising by 31% to €707,205.

The Directors also revealed that Crimsonwing Promentum initiated a new operation in Belgium during the period under review. The new operation, which will be offering consultancy services, has already managed to secure its first clients.

The most significant growth was achieved in Crimsonwing’s Magento (e-business) practice as it continued to grow following investment in new capability and an increased client base across the UK, Netherlands and Malta. Overall the headcount in this area of business amounts to 40 consultants thus making Crimsonwing one of the largest Magento Enterprise partners. New business was also contracted on the Enterprise Intershop and Hybris platforms.

The statement reiterated that Crimsonwing was amongst the first Microsoft partners to attain a top level (Gold) accreditation in Microsoft’s newly re-vitalised partner programme. Further details on the gold accreditation may be found here.

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