ChinaSoft International Announces 2012 Annual Result
Service Revenue Increased to RMB2.55 Billion, up 30.2% YoY
Net Profit Attributable to Equity Shareholders Increased to RMB 133 Million, up 20.4% YoY
BEIJING and HONG KONG, April 2, 2013 /PRNewswire/ -- ChinaSoft International Limited (ChinaSoft International or Company) (SEHK:354) today released its 2012 Annual Result for the year ended December 31, 2012. The summary of 2012 financial report is as follows:
| RMB'000 | 2012 | 2011 | Growth% |
| Revenue | 2,768,171 | 2,243,754 | 23.4% |
| Service Revenue | 2,551,395 | 1,959,885 | 30.2% |
| Gross Profit | 915,341 | 729,491 | 25.5% |
| EBITDA* | 328,838 | 293,184 | 12.2% |
| Profit for the Year | 150,142 | 121,076 | 24.0% |
| Net Profit attributable to Equity Shareholders | 133,189 | 110,594 | 20.4% |
| *excluding the changes in fair value of redeemable convertible preferred shares, Impairment loss on goodwill, Gain arising from changes in fair value of contingent consideration payable on acquisition of business and Loss on deemed disposal of associates. |
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As a large comprehensive software and information services provider, ChinaSoft International has been providing end-to-end services ranging from consulting, solution, and outsourcing to talent training. It serves many clients in various verticals including government, large enterprises, manufacturing and logistics, transportation, finance, banking, insurance, securities industries, telecommunication, high-tech, public services as well as energy.
According to its annual results announcement, ChinaSoft International recorded 2012 service revenue of RMB2.55 billion, an increase of 30.2% compared to year 2011. Gross profit was RMB915 million, up 25.5% YoY. And the EBITDA increased 12.2% to RMB329 million in 2012. Net Profit Attributable to Equity Shareholders was RMB133 million, up 20.4% YoY. Since its listing in the Hong Kong GEM board, the Company has recorded a 36.7% compound annual growth rate in its revenue and a 52.3% compound increase in services revenue. As of December 31, 2012, the Company had 18,946 employees.
ChinaSoft International indicated that the service revenue growth during the reporting period benefited from the rapid and balanced development of all its businesses. Service revenue from Professional Service field increased 32.7% compared to the same period of last year, service revenue from IT outsourcing service increased by 27.3% YoY, and service revenue from the Training Service increased by 35.0% YoY.
During the reporting period, in addition to maintaining its leading position in competitive industries, the Company has made strong progress in energy industries and insurance & securities, establishing stable partnerships with many key companies in these industry sectors. ChinaSoft International indicated that the Company's core advantages, including industry experience, end-to-end service model, workforce and platform for talent supply and win-win cooperation with world-class strategic partners, continue to improve, and have demonstrated their strong impetus for businesses.
During the reporting period, the joint venture with Huawei officially began and started operation, and its results achieved stable growth and the initial signs of synergies have emerged. The establishment of the joint venture will quicken the pace to create an environment for outsourcing industry nationwide, enhancing competitiveness of China's software outsourcing industry in international market.
With regards to technology innovation, the Company made further progress in ResourceOne platform, an SOA middleware platform product it developed to provide application support for industry solution. The Company has signed a cooperation agreement with AliCloud to jointly develop PaaS platform, both parties will work together to port R1 products (including FramePortal, SOA Suite and BizFoundation) onto the Ali Cloud environment, and will provide Java-based development services and cloud-based SOA services.
Looking ahead in 2013, Dr. Chen Yuhong, Chairman of the Board of ChinaSoft International said, "The Company will focus on the strategy to realize co-development with our core customers and move up the value chain. By seizing the opportunities of the IT industry change and core customers' business transformation, the Company will also expand further into the global IT services market as well as speed up the deployment of cloud integration services, mobile BI and other potential businesses. Year 2013 will be a good beginning and we will lay a solid foundation for the 2013-2015 three-year plan of the Company."
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About ChinaSoft International Limited, "CSI" (354.HK)
Founded in 2000, ChinaSoft International Limited is a listed company in the Hong Kong Stock Exchange with its code of 354.HK. It is a large Chinese comprehensive software and information services provider, ranging from end to end services of consulting, solution, outsourcing and talent training. It serves clients including government, manufacturing, finance, telecommunication, high-tech, transportation as well as energy. It provides global services to over 100 multinational companies with close to 19,000 employees located worldwide based in 25 cities including mainland China, Hong Kong, Princeton, Seattle, London, Tokyo and etc. For more information, please visithttp://www.chinasofti.com/.