Feb. 4, 2004 — KWI announced that it delivered strong sales growth across the globe in 2003 and saw significant market interest in K2, its recently introduced suite of componentised, integrated applications for multi-commodity trading and risk management.
New customers and go-lives include E.On Benelux, PSE and MVM, cementing KWI’s leadership position in Europe by growing its market share to over 30 per cent in 2003 according to Prospex Research. In North America, 60 per cent of existing customers upgraded their KWI software investments during the year.
Commenting on KWI’s performance in 2003, David Bucknall, chief executive officer, KWI, said, “Over the past year, KWI has continued to grow and support its global user community. We achieved considerable success within EU accession countries, saw a growing demand for KWI software within the European gas market and had new opportunities develop in Russia and Asia-Pacific. This continued success has been achieved through the innovation and delivery of solutions that address customers’ most important energy trading and risk management challenges and generate significant business value and ROI.”
KWI is committed to setting the new standard for ETRM software with the introduction of K2 at its global user group in November 2003. This comprehensive suite of componentised applications provides a scaleable, high performance platform that meets the increasingly sophisticated demands of energy traders and delivers rapid business value to customers. Since its introduction, KWI has experienced strong demand from new and existing customers for K2, with 10 upgrade projects already scheduled amongst the global customer base in 2004.
Pete Gombert, executive vice president, international operations, KWI, adds, “In North America and Asia-Pacific, we have seen increasing demand for KWI’s software. 60 per cent of customers in North America upgraded their KWI software and we signed one of the largest new deals of 2003 in the North American market. The company’s superior power scheduling functionality and ability to support the growing challenges of compliance, such as Sarbanes-Oxley, has generated strong interest in KWI. In addition to the success in North America, we have also seen revenues increase in Asia-Pacific and we are excited about the opportunities in this emerging market.”
As deregulation continues to gather pace across the globe and established energy trading companies seek to enhance their trading capabilities, KWI is looking forward to building on its position in Europe and increasing its strong position in North America during 2004.
KWI, established in 1993, develops risk management and trading software for the global energy industry. The company’s global headquarters are in London and North American headquarters are in Houston. Developed specifically for global energy businesses, KWI’s flagship product, K2, is a comprehensive suite of componentised, integrated applications for multi-commodity trading and risk management.
More information can be found at www.kwi.com