Brain Force Reports Positive Turnaround

CompaniesTechnology ♦ Published: December 21, 2010; 11:25 ♦ (Vindobona)

Brain Force Holding AG, an Austrian IT services provider, announced its business results for the 2009/10 fiscal year.

Brain Force Reports Positive Turnaround / Picture: © Brainforce

Brain Force generated clearly positive results in the 2009/10 fiscal year. Group EBITDA rose from € 2.05 to 5.66m, and there was a turnaround in EBIT from € -1.59 to +2.86m. This development can be attributed to two strategic transactions. On the one hand, the sale of the Professional Services business in Austria resulted in a book gain of € 2.47m. On the other hand, hidden…