What future for cc-hubwoo?

Today, cc-hubwoo announced its 07Q4 results: 32,6M€ revenues, which means 1,8% growth, almost none. Not surprisingly, stocks went down by 3,95%. shall it be reminded that Alain Andreoli’s plan for 2007 was to reach 44M€ (see my post comparing cc-hubwoo and IBX). cc-hubwoo being far behind its objectives and its growth being almost nil, even with the acquisition of Intersources NV and BlueSolutions this year, what do you expect?

My opinion on cc-hubwoo is clearly negative: A company that doesn’t grow is dying – especially in a market which grows at more than 10% – . and the enormous gap between the forecast and the actuals is demonstrating that cc-hubwoo is not able to forecast anything. Its SaaS business is obviously not robust, profitable and recurrent enough to be predictable. I would encourage any of you to read again the press-releases published early 2007 to measure by yourself the gap I’m talking about.

In this cloudly landscape, the 2 acquisitions done by cc-hubwoo this year and its privileged relationship with SAP shine like a moon in the night: founding its future business 1) on operating SAP in a SaaS mode, 2) on benefiting from software-upgrades/maintenance done and/or financed by SAP, 3) on a strong and profitable consultancy stream to onboard SAP clients… might save money, bring numerous customers and upraise cc-hubwoo.

As you may understand, SAP holds most of the cards. That’s where cc-hubwoo’s future is, I believe.


  1. Mark Williams 30 January 2008
  2. Jean-Philippe Massin 31 January 2008
  3. Peter Lageson 3 February 2008
  4. Pepe Alas 1 April 2009

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