Life Asia Insurance Computer Sciences Corporation by nwm56417

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									      April - June 2005
      Interim Report

      Presented by President/CEO
      Jan Andersson




 ReadSoft 2004
 Short facts on ReadSoft


           Founded 1991                                               Oslo
                                                                                Stockholm
                                                                  London         Helsingborg
           IPO in 1999                                             Paris
                                                                  Madrid
                                                                                Copenhagen
                                                                               Frankfurt
                                               New Orleans
           299 employees in 11 countries
           4000 customers in 70 countries
                                                                   Sao Paulo
           The products are sold in 9 languages       Santiago                                Sydney

           Over 300 partners




 ReadSoft 2004
      Shareholder Information

                 Listed since June 1999
                 7,943 (7,530) shareholders
                 37 (32) % of capital by institutions
                   Skandia 6,5 %
                   Industrivärden 4,3 %
                   SIF 3,9 %
                   Golden Sachs International 2,8 %
                   Lannebo Småbolag Select 1,9 %
                   Roburs Småbolagsfond Sverige 1,9 %
                 87 (88) % of capital owned by Swedish shareholders
                 Traded on Stockholmsbörsen, Attract40




 ReadSoft 2004
               Business Mission
                 To develop and market software for Document
                  Automation and related management of
                  information


                  Corporate Vision
                  To free businesses everywhere from manual
                   document handling by means of Document
                   Automation




 ReadSoft 2004
  What business benefits?


                     Saves time




                     Saves money




                     Increases data quality




 ReadSoft 2004
      Quick recap:
      ReadSoft teaches computers to read




 ReadSoft 2004
    Document Automation


           Software solutions replacing manual
            handling of ALL your documents:
              –   All formats
              –   All media
              –   All content
           Automating the entire life cycle
            of your documents:
              –   Handling each step of your document process
                  automatically, from input to output




 ReadSoft 2004
      ReadSoft DOCUMENTS
      One technology platform for all solutions




 ReadSoft 2004
                 In 1997 ReadSoft launched electronic invoice processing
                 Well over 1200 customers in over 20 countries –
                  150 million invoices annually
                 Patented technology in Sweden and European countries
                 Certified interface to SAP and Oracle Business Systems
                 Some of the customers:
                  Ericsson, Telia, SAS, DaimlerChrysler, SAAB Aerospace, ABB, Pharmacia, Eon Energie, SAS,
                  United Biscuits, Thyssen Krupp, RTL Television, DFDS Transport, Monoprix,
                  Bankgirocentralen, SEB Finans,Vattenfall, Volvo, Åhlens, Ica, IKEA, Preem, SAAB Aerospace,
                  Amcor, Borealis, Diageo, Hilton Hotels, Avesta Polarit, Alcatel, Body Shop, PRG Schultz,
                  Christian Dior, Accenture, Siemens, France Telecom, Computer Sciences Corporation,
                  etc.


 ReadSoft 2004
                 In 1991 ReadSoft launched data capture for structured forms
                 Over 3000 customers in 70 countries – over a billion forms a year
                 Some of the customers are:
                  Honda, Home Care, Telstra, ING, Manpower, Avon, Thomas Cook, Schering Plough, AP
                  Möller, Danfoss, Hydro Texaco, DaimlerChrysler, Nordea, Telia, Oriflame, Lexmark, Lidl,
                  Pharmacia, Tupperware, Hewlett Packard, Pfizer, Bonnier, Siemens, Fortum, Barclays, Abbey
                  National, Alecta, Kuwait Finance House, HSBC, Farrington, DFDS, Telenor,
                  Rikspolisstyrelsen, Sydkraft, Eon Energie, Allstate, American Express, Estee Lauder, Sears,
                  etc




 ReadSoft 2004
        Product Update – on the way to market


           ReadSoft DOCUMENTS
            INVOICES 5-4

           ReadSoft DOCUMENTS
            APPROVE 5-1

           ReadSoft DOCUMENTS
            MAILROOMS 6-1




 ReadSoft 2004
    Over 4000 customers and 300 partners


  Strong segments
            –     Banks                  –   Education   –   Government
            –     Medical                –   Insurance   –   Market Research
            –     Mail-order firms       –   Medical     –   Power industry
            –     Service bureaus        –   Telecom     –   Airlines


    Strategic partners
            –     Intentia           –   Oracle          –   TietoEnator
            –     IFS                –   Siemens         –   Banctec
            –     IBS                –   IBM             –   SAP
            –     KPMG               –   Atos Origin     –   CSC
            –     Esker              –   WM-data         –   CGE&Y




 ReadSoft 2004
    ReadSoft competition...
    Comes primarily from the U.S., Germany and France




  Continued consolidation in 2005
  ReadSoft wins market shares
                                                                          ReadSoft
  ReadSoft leader in electronic                                           ITESOFT
        invoice processing                Captiva       AnyDoc
                                                                 T.i.S.
  ReadSoft DOCUMENTS is a                    Kofax

        unique offering, with no match
        among competitors




 ReadSoft 2004
                       2005 Market Report by

                  Strategy Partners (Europe)




 ReadSoft 2004
    Market Growth Rates 2004 - 2006, Strategy Partners

    Document Capture
     10 percent average growth for the industry per year
     The forecasted European market value in 2007 amounts to 600 MUSD
     Split market in six segments - ReadSoft has the top position in atleast two
            segments, IDR* and ODR*.




      * IDR = Intelligent Document Recognition (ReadSoft DOCUMENTS for Invoices)
      * ODR = Optical Document Recognition (ReadSoft DOCUMENTS for Forms)


 ReadSoft 2004
    ReadSoft in top position in fastest growing segment

                                     IDR      ODR

                                      + 40%   - 15%




 ReadSoft 2004
                       2005 Market Report by

                  Harvey Spencer (Worldwide)




 ReadSoft 2004
 Market Growth 2004 - 2008, Harvey Spencer Associates Inc.
 The Worldwide market for Document Capture Software



       16 % annual growth
       Worldwide value USD 1.5 billion 2008


       ReadSoft number one in largest segment
             ”Data Capture for process and
             Transactions Management”




 ReadSoft 2004
    Market leader in largest segment, Harvey Spencer Associates Inc.

                                                    Data Capture for Process and
                                                      Transaction Management

       ReadSoft owns 12 percent of the segment
       This segment is 38 % of the full Document
             Capture market
       Driven by IDR*
       Market worth USD 0.5 Billion in 2008



          * Intelligent Document Recognition


 ReadSoft 2004
 Trends worldwide, Harvey Spencer Associates Inc.


       Corporate Governance and Sarbanes Oxley stress effective
             document processes
       E-commerce takes off
       Mailroom applications take off after ramp-up
       Consolidation continues wordwide
       Asia will grow quickly (Japan is behind US in document
             management by 10 years)




 ReadSoft 2004
           Financial Information
           Interim Report April – June 2005




 ReadSoft 2004
 ReadSoft 2004
  Revenue and results for the second quarter

                 The turnover increased by 12 % and amounted to
                  97,6 (87,0) MSEK
                 Results after tax 10,8 (7,8) MSEK
                 Cash flow amounted to -3,2 (-4,7) MSEK




 ReadSoft 2004
  Revenue and results for the first six months

                 The turnover increased by 14 % and amounted to
                  181,6 (159,2) MSEK
                 Results after tax 16,2 (4,2) MSEK
                 Cash flow amounted to 5,3 (3,6) MSEK




 ReadSoft 2004
 Important deals and events during the second quarter

            Largest revenue ever in Q2
            Several large deals into Oracle segment
            Continued success in SAP segment – e.g. BBC Worldwide
            ReadSoft DOCUMENTS for Invocies deals with for instance:
                  –   American Utility company (SAP integration)
                  –   Optimera (Intentia integration)

            ReadSoft qualified to OMX Attract40 trading list on the
             Stockholm Exchange
            All time high number of share holders (7,943)




 ReadSoft 2004
    Group´s Income Statement
    January – June
                                                        2005     2004

      Net Sales                                         181,6    159,2
             Capitalized R&D costs                        12,8    10,2
             Commodities                                 -36,3   -31,3
             Other external costs                        -32,4   -39,7
             Personnel costs                            -103,4   -87,4
             Depreciations on fixed assets                -2,0    -2,1
             Depreciations on R&D expenses                -2,8    -2,9
      Operating income                                   17,5      6,0
             Interest income                                0     -0,1
      Income after financial items                       17,5      5,9
             Share of profits in associated companies        0       -
             Tax                                          -1,3    -1,7
      Net profit/loss after tax                          16,2      4,2


 ReadSoft 2004
 ReadSoft 2004
 ReadSoft 2004
      Strategies and goals

           Increased profitability and cash flow
           Balanced revenue growth in line with results
           A modest expansion of present organization
           Broadened product offering
           Focus on large international customers in SAP/Oracle segment
           Increased collaboration with international partners
           Active acquisition strategy




 ReadSoft 2004
                  For more information on ReadSoft, our
                  products/services, and financial updates:
                            www.readsoft.com




 ReadSoft 2004
  July - September results will
  be released on October 24




 ReadSoft 2004

								
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