Financial target

Our financial target over the next three years is to achieve EBITDA of €35 million and thus almost double the earnings reported in the year under review. In order to reach this target, we expect to surpass the 1 billion euro mark for revenue in 2009/10. Although revenue is an important indicator of the market strength of the organisation, our principal focus lies on the operating result. In the medium to long term, we aim to achieve a sustained double-figure increase in our operating profit.

Group strategy and control

In order to achieve our financial targets and make further progress towards the fulfilment of our corporate vision, control of the Group involves the implementation of the strategic aims outlined below.

Sustained growth in the Volume Business segment

One of the fundamental components of our future growth lies in attaining a sustained increase in PC-WARE Group’s market share in the Volume Business segment, which includes our core software licensing business. To this end, future expansion will be achieved through both organic and non-organic growth as part of our established, three-dimensional growth strategy and through an appropriate level of investment in this segment. During the last financial year, as a means of promoting future growth and creating leaner sales processes, we introduced our new »Procerva« internet-based purchasing portal, whose purpose is to support the Volume Business segment. In addition we shall endeavour to expand our Volume Business operation at a regional level and to in-crease our share of the market, especially in Eastern Europe. As well as expanding our business with existing clients, we constantly aim to attract new customer groups and to make our software licensing solutions available to the customers we gained with the acquisition of Comparex.

Increasing market share in the Value Business segment

Achieving a sustained increase in our market share of the Value Business segment is central to the future growth of PC-WARE. Consequently, we shall be pursuing the successive and selective regional expansion of our portfolio, thus allowing the transfer of high-end services in the field of system integration (such as those already offered in large parts of Eastern Europe) to Central and Northern Europe and facilitating the cross-selling of different services from our portfolio among diverse existing customer groups. We intend to focus particularly on the task of winning new customers.