In its press release from January 29th 2007, cc-hubwoo reported a revenue 2006 of €32.0m which is aligned with its plans for 2006 and its aim to reach full profitability (EBIT) in 2007. If this level of revenue represents an an increase of 4.6% versus 2005, on a constant exchange rate and basis (Trade Ranger was acquired in May 2005), revenue is however down by 6.8%:
This decrease is entirely explained by the contractual reduction in Trade Ranger revenues, as noted in previous communications, which leads to a €2.7m reduction in 2006. In 2007, the revenue contribution is further reduced by €0.7m, and from 2008, the contracts are to be re-negotiated, a process which has already commenced.
Source: cc-hubwoo press release 29/01/07
The press release doesn’t say much more than already said. I’ve obviously noticed that cc-hubwoo acquired 16 additional customers in 2006, which is not too bad compared to their 67 customers base but still so little from a worldwide market penetration, and that cc-hubwoo has signed a new major contract with a Fortune 100 company:
This worldwide rollout is anticipated to involve the enablement of 1,500 catalog suppliers and 5,000
additional transacting suppliers globally, making this customer the largest in the history of cchubwoo,
measured by number of suppliers and number of catalogs.
Though the market welcomed the news from press release (+8% at the stock excahnge opening), we’ll have to wait until March to go beyond this marketing pitch and to know more about cc-hubwoo financial health and ambition feasability.