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Addedo, a premier international consultancy organisation working for the CFOs office and LOB, announced today that the company’s strong growth last year have set the stage for continued strong performance throughout 2011. The company has a growth strategy and with a growth plan of at least 20% year over year. Also last year this objective was achieved. Overall growth exceeded 20% in 2010.

A highlight across strategic areas underlines some of this significant progress:

Performance Summary – The Addedo Group hit several strategic milestones including:

• Continued gain in market share across all countries within Business Intelligence and data warehouse projects
• Maintained and developed market leading position within consultancy around Financial Consolidation and Reporting
• Increased recurring revenue generated by signing several service contracts with clients
• Overall sales growth exceeding 20% for the Group
• Significant growth in headcount during the last months.
• New Customer Engagements

New Customer Engagements

Addedo has in 2010 successfully secured several service and license contracts with new clients.

To significant Swedish new customer gains belong Haldex, Proffice, Thule, Svenska Spel and Medius. The latter being of special interest due to its size, Medius annual sales is 15M EUR with a high growth rate. They decided to make an early investment in an FPM solution to grow into.

Addedo Switzerland maintained its strong market position during 2010. There were 10+ major new license deals last year. Some of these were strategic, such as seven new customers, of which Emhart Glass and Phoenix Mecano can be mentioned, where we have delivered Financial Analytical Publisher (FAP) on Cognos Controller. Furthermore, Addedo is now established as the one of the leader on Cognos TM1 with a handful of projects in 2010 around planning and what if analysis. Calida is one of them; this customer presented the project as one of the main stage presenter at the latest Cognos Performance event in October 2010.

In the UK, significant effort and resources have been directed into streamlining and enhancing our enterprise-wide Corporate Performance Management solutions to enable businesses to align business strategies with their effective execution, measurement and communication. Across license sales, services and support, significant new clients include Nord Anglia, Kentz Engineering and Shine Group.

Partner Relations and Recognitions

Solutions of the future should be based on technology and software from world-leading suppliers. Addedo has chosen to focus on one strategic technology partner – IBM Cognos – to better serve our customers. Addedo is starting to develop relations with the other market leading principals in the area of performance management and business intelligence as appropriate. Since 2009 we began to engage on Hyperion Oracle and SAP, however only as service providers. Addedo will, for the foreseeable future, continue only reselling IBM Cognos.

As for IBM Cognos, Addedo Sweden was rewarded the rookie of the year among all IBM partners in Sweden and the only rewarded Cognos partner. Furthermore, in Switzerland and the UK, Addedo is one of a handful of partners that keep delivering on the high standards required for being IBM approved Support Provider apart from reselling and service providing. Addedo is still the only IBM Cognos partner in Switzerland which provides support on ALL IBM Cognos products.

Significant increase in head count

Addedo Sweden continues its recruitment campaign to support its planning, business intelligence and data warehouse operations. Addedo Sweden data warehouse and back end capabilities have been strengthened via the recruitment of Julatouch Pipantanangura who has extensive experience especially on Oracle. Furthermore the group of senior Planning consultant have been significantly strengthened by Ulrika Bröjer who has extensive experience from leading planning positions at companies like Tele2, TDC and Eniro.

Addedo Switzerland has further strengthened its delivery capacity around business intelligence and data warehouse, now with four TM1 consultants. Furthermore the company embarked upon a large recruitment campaign in December that will result in a number of new recruits during this year.

Addedo UK has focused on growth within the core competence of Financial Reporting via the Office of Finance, and the development of additional revenue streams in the complementary areas of planning, forecasting, budgeting and business intelligence. This is underpinned by active recruitment of skilled professionals from the business analytics sector and an on-going commitment to exceptional service levels for our customer base.

Concluding Note

“I am proud of our accomplishment throughout another successful year. Of course the major reason for this is our dedicated, highly competent and client-oriented team of seasoned consultants. In addition to this we have made some important strategic decisions that have gone our way” says Johan Berggardh, Managing Director of Addedo Ab.

Michael Kempter Managing Director of Addedo CH, continues, “I am looking forward to 2011 with great enthusiasm”.

“Addedo UK has been reinforcing its position as the leading IBM Cognos Controller partner in the UK, and 2011 is set to be an extremely successful year for us as we look to build upon the progress made year-on year, and to work pro-actively with our clients to drive demonstrable ROI in times of economic uncertainty.

Contact
Johan Berggårdh, MD Addedo Sweden
Mobile: +46 70 321 77 32
Skype: Johan Berggardh
Email: Johan Berggårdh

Michael Kempter, MD Addedo Switzerland
Mobile +41 792 491 510
Email: Michael Kempter

Ian Inglis, MD Addedo UK
Mobile: +44 7967 590 364
Email: Ian Inglis