CONTRACT WITH BERTEL O. STEEN AS WORTH EUR€8M

09/08/2014


incadea plc (LSE-AIM: INCA), a leading provider of enterprise software and services to the global automotive dealership industry, is pleased to announce that it has won a two year contract with Bertel O. Steen AS (BOS) worth EUR€8 million, with an additional recurring revenue element in excess of EUR€1 million annually.


BOS, headquartered in Lørenskog, is one of the largest trading companies in Norway. It is the leading Norwegian car distributor, importing car brands such as Mercedes-Benz, Peugeot, Kia, Smart and Fuso. BOS has a nationwide dealership network consisting of approximately 150 dealers, and the majority of its sales are through its owned resellers. The Group had a turnover in 2013 of EUR€1.2 billion and employed 2,086 people.

Under the terms of the contract incadea will roll-out its flagship incadea.myengine next generation Dealer Management System to 85 dealers at 109 sites, and provide the ongoing maintenance for:

  • incadea.myengine DMS, incadea’s next generation Dealer Management System
  • incadea.mobile, including incadea.mysales for tablet devices and incadea.myservice applications
  • incadea.cvrm tailored CRM, incadea’s customer and vehicle relationship management solution
  • incadea.bi, incadea’s business intelligence solution
  • Bjørn Maarud, CEO in Bertel O. Steen AS, commented: “We selected incadea in a competitive bid process due to their ability to provide us with the most innovative and effective solutions to best suit our needs. BOS already utilises Microsoft’s products e.g. Azure, O365, Lync, Sharepoint across its operations, very much aligned with incadea’s sophisticated products.” 

Patrick Katenkamp, Chief Executive Officer of incadea plc, commented: "This contract represents a showcase of the latest and best technologies available for the industry. By implementing incadea’s innovative product suite, we aim to position BOS as a European showcase for a cloud based solution. From a strategic point of view, it is highly important as this deal is with one of the largest dealer networks in Norway; following this deal incadea’s market share has increased to over 40% in Norway. The relationship with BOS greatly enhances our presence in the Scandinavian region and provides us with an excellent testimonial to increase our market share across Scandinavia and Europe.”


For further information please contact:
incadea plc
+49 89 69338 0

Patrick Katenkamp (Chief Executive Officer)
Alex Tsaparas (Chief Financial Officer) www.incadea.com

Cenkos Securities plc (Nomad & Broker)
Stephen Keys (Corporate Finance)
Mark Connelly (Corporate Finance)
+44 20 7397 8900

N+1 Singer (Joint Broker)
Shaun Dobson
+44 20 7496 3000

Newgate Threadneedle
Fiona Conroy / Caroline Forde / Edward Treadwell
+44 20 7653 9850

About incadea
incadea (LSE AIM: INCA) is a leading international provider of software solutions and services to the global automotive retail and wholesale market. Incadea addresses the needs of this industry by offering global solutions with state-of-the-art innovation and local execution capabilities. Products include dealer management, business intelligence, and customer and vehicle relationship management solutions. These are used by multinational car manufacturers, Original Equipment Manufacturers (“OEMs”) and their dealership networks. Through continuing global expansion, incadea serves more than 70,000 end users in more than 2,400 dealerships in 87 countries across the globe.

Headquartered in Germany, incadea has offices in Austria, Greece, Spain, Portugal, Russia, China, Japan, India, Taiwan, Mexico, New Zealand. The Group has a network of worldwide certified channel partners, and its range of blue chip customers include over 50 OEMs such as BMW, Toyota, Volkswagen, Peugeot/Citroën, Ford, Scania and Mercedes-Benz. For more information, please visit www.incadea.com.

About Bertel O. Steen
Effective from January 1st 2013 Bertel O. Steen was divided into two operative groups; Bertel O. Steen AS and Bertel O. Steen Invest AS to streamline corporate operations. Bertel O. Steen AS manages the automobile and property sectors and Bertel O. Steen Invest AS manages the interests in agriculture, industry, sports and workshop operations.

Bertel O. Steen AS and its subsidiaries are one of the leading service and trading companies in Norway across automotive sales, commercial dealerships, finance and property sectors. Bertel O. Steen imports the car brands Mercedes-Benz, smart®, Peugeot, Kia and Fuso. The business unit, Bertel O. Steen Detalj AS, consists of a nationwide network of dealers who distribute the group's automotive brands. The majority of sales are through Bertel O. Steen Detalj AS and its subsidiaries. The group is also engaged in fleet management and car financing in addition to expanding a substantial property portfolio, through Bertel O. Steen Eiendom AS, related to automobile and other industrial business. Bertel O. Steen AS has about 2 000 employees. Headquartered in Lørenskog near Oslo.

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