|Allegro Development Reports Significant Growth in 2008|
Focus on key markets enables company to succeed in down market, signing 15 new accounts and growing license revenue by 33%
DALLAS, Texas, January 27, 2009 – Allegro, the leading provider of energy trading and risk management (ETRM) solutions, announced today that during 2008 it achieved record revenue levels, both in total and license revenue. Allegro experienced double digit growth with a record year for both license and total revenue, and sustaining growth across all commodities, including power, natural gas, oil, coal, agriculture, and biofuels, as well as across all geographies, specifically in Asia Pacific, EMEA and the Americas.
Fifteen of the world’s leading energy companies selected Allegro as their ETRM solution provider in 2008. As worldwide demand increases for comprehensive solutions that manage trading, physical logistics, risk and regulatory compliance, companies continue to turn to Allegro for unparalleled functionality and transparency across front, middle and back office operations.
Allegro also took advantage of 2008 to focus on making investments in people, infrastructure, and partnerships, the benefits of which will continue through 2009, and positively impact the company and its customers. In addition to increasing employee headcount, Allegro opened new offices and expanded existing offices to better serve a growing customer base. Highlights include:
Patrick Reames, Vice President of Trading & Risk Management for CommodityPoint, a division of UtiliPoint International, Inc., said, “Clearly Allegro's results are impressive, particularly in light of the difficulties in the industry and the wider economy in the latter half of 2008. Achieving a 30% plus increase in license revenue and signing 15 net new clients is tangible validation of both their product strategy and ability to execute for their clients. The results further solidify their standing in the upper echelon of ETRM/CTRM providers and indicate the company is well positioned for further success in 2009.”
“We are extremely pleased with Allegro’s successes in 2008, and are even more excited about the prospect of 2009 as we approach our 25th year in business,” said Allegro founder and Chief Executive Officer, Eldon Klaassen. “Our strong year over year performance continues to prove that we can not only bring value to our existing customers, but can show prospective customers measurable returns, all of which enable us to invest in a solution that meets market demands.”
In addition to a growing customer base, existing customers continue to invest in their Allegro solutions: The company completed numerous successful upgrades to Allegro 8, the company’s latest platform. The existing customer base continued to add software licenses and components, and a large number of customers are in the planning phase to upgrade to Allegro 8 in 2009.
The type of customers who utilize Allegro’s solutions – asset-based energy and commodity companies – uniquely position Allegro to grow its customer base despite a down market. While financial institutions found themselves struggling in 2008, energy and commodity companies remained somewhat insulated, and like Allegro, were able to sustain growth regardless of an economic downturn.
Additional notable details from 2008 include:
Allegro continues to leverage its nearly 25 years of experience to provide producers, refiners, power and gas utilities, commodity traders and commodity consumers comprehensive trading and risk management software solutions. To learn how Allegro can bring value to your company, visit www.allegrodev.com
About Allegro Development
Allegro is a global leader in energy trading & risk management solutions for power and gas utilities, refiners, producers, traders, and commodity consumers. With more than 29 years of deep industry expertise, Allegro’s enterprise platform drives profitability and efficiency across front, middle, and back offices, while managing the complex logistics associated with physical commodities. Allegro provides customers with agile solutions to manage risk across natural gas, power, coal, crude oil, petroleum products, emissions, and other commodity markets, allowing decision makers to hedge and execute with confidence. Headquartered in Dallas, Texas, Allegro has offices in Calgary, Houston, London, Singapore, Sydney, and Zurich, along with a global network of partners.
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