Double digit growth of First Half Turnover: +13%
Cloud success: +30% volumes processed
Second quarter growth acceleration: +14% Turnover
DOUBLE DIGIT GROWTH OF FIRST HALF TURNOVER: +13%
| First Half (non-audited) Turnover (in € 000's) | 2015 | 2014 | Change |
| 2015 Q1 | 3.8 | 3.4 | 12% |
| 2015 Q2 | 4.1 | 3.6 | 14% |
| 2015 H1 | 7.9 | 6.9 | 13% |
Sidetrade posted turnover of €7.9M during the first half 2015 trading period, representing organic growth of 13% compared to the first half of 2014.
CLOUD SUCCESS: +30% VOLUMES PROCESSED
A rapid acceleration of processing volumes demonstrates the increasing strength of the Sidetrade Network. More than 22 million invoices were managed in the Sidetrade Cloud during 2015 first half (compared to 17 million in 2014 first half), representing an increase of 30%.
Major commercial successes for the period include XPO Logistics (formerly Norbert Dentressangle Logistique) for a Europe-wide implementation in nine countries following successful launches in the UK and Ireland in 2014, Transgourmet, QMH UK, Vocalcom, Riwal France, Bergerat Monnoyeur Belgium, Nutrisens.
SECOND QUARTER GROWTH ACCELERATION: +14%
For the first time, Sidetrade has breached the €4 M threshold for turnover during a single quarter. The second quarter marks a gradual return to robust growth. Compared to the first quarter, second quarter turnover grew at 9%, highlighting the strong pace of growth during the first half.
Olivier Novasque, Sidetrade CEO, explains:
"At this half-way point of the year, our organic growth validates our choice of strategic investments. To establish ourselves as the key partner in the digitisation of customer financial relationships, Sidetrade benefits from two major strengths: a disruptive Cloud-based solution bolstered by specialist professional services, as well as a pan-European presence of well-resourced, motivated teams. Based on our stable financial strength, we will continue to invest. Sidetrade is in a very favourable position to fully reap the benefits of our Target25 strategy".
Management is confident of the Group's ability to post overall growth through the 2015 period.
