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CLOSURES HURT PRODWARE 2020 RESULTS Featured

 Lockdowns in France aimed at combatting the coronavirus pandemic took a toll on Prodware’s results for the year ended December 31. The Dynamics and Sage reseller saw fourth-quarter revenue fall by 11.1 percent and 2020 results drop by 8.1 percent.

The France-based company does not report earnings with its in initial release of revenue. Sales last year reached roughly $208 million, down 5.6 percent on a like-for-like basis from 2019. Fourth-quarter revenue was approximately $66 million, off 5.3 percent a like-for-like basis from the prior year’s corresponding period. The biggest fall off was in the French-speaking region, which includes France and countries in Africa, totaling about $76 million last year, down 16 percent, sales in Germany rose by 3.2 percent. The decline came despite a 15.6-percent increase in revenue for SaaS products to about. $54.4 million. Those now represent 26.1 percent of Prodware’s revenue. The company’s announcement said it “foresees an improvement in its profitability metrics for 2020.”

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