Lexington, MA, Feb. 4, 2004 — Excelergy® Corp., a provider of high performance software platforms for revenue cycle management in complex value chains, including energy/utilities, telecommunications, and financial services, reported that it achieved strong company performance in 2003 with several major client wins, considerable global sales growth and other key achievements.
Despite soft markets in the energy/utility sector, Excelergy achieved positive movement in key performance indicators such as bookings, gross margins, European sales, and expansion into new vertical markets. The company announced growth in bookings of software and services for each quarter of 2003 – with gross margins above 70 percent. In addition, Excelergy added more than 15 new names to its client list in both the energy and telecommunications markets.
“Excelergy’s strong key performance indicators are a clear sign that our market development efforts have been on target,” said Excelergy president and CEO, Bill Mahoney. “New sales of Excelergy® Trader BackOffice® to major wholesale market players such as ENEL in Europe and NIPSCO in North America helped boost our sales of energy trading solutions by more than 43 percent. Within six months of introducing our new retail pricing platform, Excelergy HedgeDirectâ„-, we signed three major merchant retailers, including Occidental Petroleum and Select Energy.”
“Our Excelergy RevenueManagerâ„- billing and customer care system continues to win awards for speed of deployment;” said Mahoney; “and we signed our third telco client, building the momentum we need to meet our goals for expansion into new verticals. Our bookings growth, gross margins and expansion in new geographical and vertical markets validate our strategic business plan and positions us for strong growth in 2004 and beyond.”
Excelergy’s 2003 bookings in Europe/Middle East/Africa (EMEA) energy markets grew by 74 percent over 2002. New European clients signed in 2003 included major wholesale and retail market participants such as ENEL in Italy and ONS in The Netherlands.
“Our EMEA sales pipeline continues to grow substantially as EU liberalisation timetables create increasing demand for Excelergy software platforms,” said Stu Young, Excelergy’s SVP of Global Market Operations. “We expect this trend to accelerate in 2004 – not only in Europe but in parts of Asia Pacific, as well.”
About Excelergy® Corporation
Excelergy is a provider of high performance software platforms that increase revenues, improve cash flows and reduce costs in the Energy/Utility, Telecommunications and Financial Services industries. Excelergy’s highly-flexible, scalable software systems automate forecasting, trading, scheduling, billing, settlement and customer/partner acquisition and care. Excelergy has its North American headquarters in Lexington, Massachusetts, its European headquarters in London, England and its Asia-Pacific headquarters in Melbourne, Australia. More information is available at www.excelergy.com.