April 25th - 2002
This letter is intended to provide Mandriva Shareholders with the latest news of the company.
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MANDRAKESOFT |
Strong increase in consolidated revenues in second quarter |
(January - March 2002) |
+155% to Eur 0.97 Million |
(M€) |
2000-2001 |
2001-2002 |
Variation |
---|---|---|---|
1st quarter |
1.32 |
1.36 |
+3% |
2nd quarter |
0.38 |
0.97 |
+155% |
1st semester |
1.70 |
2.33 |
+37% |
(*) consolidated figures, not checked by auditors
After the sales in the First Quarter of the 2001-2002 fiscal year showed little change in comparison with the previous year, Mandriva has seen a significant rise in the Second with the turnover increasing by 155% to Eur0.97Million. This is particularly noteworthy, as sales in Q2 and Q4 can reasonably be expected to be lower than the other two since they do not benefit from the 'launch effect' of new versions of Mandriva Linux. For example, the new 8.2 version of Mandriva Linux was launched in the beginning of April 2002 (Q3).
The substantial rise in sales during the first half of the 2002 fiscal year (October 2001 to March 2002) reflects the success of the group's new offerings:
The launch of online sales on Mandriva Store in 2001, which in addition to a greater gross margin contributed 22% of total sales.
OEM sales, particularly those in conjunction with Hewlett Packard, now represent 16% of the half-yearly sales.
The launch of Mandriva Club (Mandriva Linux users club) is proving very successful : Annual subscriptions have generated cash of Eur0.44 Million in the first six months, yielding a revenue of Eur37.000 (revenues are spread evenly throughout the duration of the subscription).
Moreover :
Sales via traditional distribution channels are declining due to difficult market conditions, and now represent 51% of sales. Mandriva's dependence on its American distributor Macmillan continues to decrease, and is now down to 35% of sales, in comparison with over 51% in the same period in the prior year.
Sales of services represented 9% of total revenues, with a strong increase in the second quarter (+271%), in comparison with the first, thanks to the reshaping of the service offerings at the beginning of the quarter.
This strong sales performance should, in conjunction with the cost-cutting measures which are in hand, allow another substantial reduction in operating losses, in comparison with the previous two semesters.
In order to continue its development and increase its market share, Mandriva plans a capital increase, with the aim to further strengthen its financial structure.
For additional information: mandriva.com/company/investors/newsletter
Euroclear : 4477
Reuters : MAKE.PA
OTC US : MDKFF
Number of shares : 3 407 661
Contact Mandriva
Jacques Le Marois/ Thierry Bossut
investors @ mandrakesoft . com