OREANDA-NEWS. August 08, 2012. IBS Group Holding Limited (IBS Group), a leading software development and IT services provider in Central and Eastern Europe, announces today its audited consolidated financial results in conformity with US GAAP for the year ended  March 31, 2012, reported the press-centre of IBS Group.

Highlights

Consolidated revenues rose by 24% y-o-y to USD816.3 million.

Consolidated EBITDA grew by 55% y-o-y to USD79.6 million and EBITDA margin increased to 9.8% from 7.8% in the prior year.

Net Income attributable to IBS Group increased by 59% y-o-y to USD 40.9 million and net margin improved to 5.0% from 3.9% a year ago.

Net debt down to USD24 million, a decline of USD 7.7 million y-o-y.

Headcount increased 12% y-o-y to 8,252 employees.

Comment from Anatoly Karachinsky, President of IBS Group:

“This reporting year was notable for IBS Group as we solidified our position as one of the leading information technology (IT) companies in Central and Eastern Europe. Despite the challenging global economy, it was also a year of robust, profitable growth for us. Both of our principal business segments, IT Services (represented by IBS IT Services) and Software Development (represented by Luxoft), were integral to our success.

The IT Services segment continued to tap the rising demand from major Russian companies for developing new IT infrastructure and implementing business application software, including complex management information systems (MIS).

The Software Development segment continued its advancement as a leading niche provider of high-end outsourced software and application development services. Over the past year, the evolving requirements of our global clients were driven not only by efficiency gains, but by the growing need for value-added offerings and measurable innovation requiring advanced technical skills. Our creative approach to software engineering combined with the ability to deliver complex solutions contributed to success of this segment.

We are very pleased with the results we’ve achieved as they cement our foundation for future development.”