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Mandriva Shareholder Newsletter

Financial figures
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Fiscal Year 2001-2002 :
Revenue: +31%
Massive reduction in operating losses


(M€) (fiscal year Oct. 01 through Sept. 02*)








Operating Result



Net Result



(*)unaudited consolidated figures

During fiscal year 2001-2002, Mandriva generated consolidated revenues of 4.7 ME -- an increase of 31% from the previous year. This performance gain, which occured during a particulary difficult economic climate for the entire computing industry, was made possible due to the success of several offerings which enjoyed strong growth: Online sales at Mandriva Store, OEM revenue, and revenue from Mandriva Linux Users Club accounted for 42% of consolidated revenue, compared to 11% in fiscal year 2000/01.

Evolution of revenue over past 4 years (KEuros)

Strong improvement of gross margin and reduction of operating losses

The growth of new revenue lines that provide high margins in addition to improved margin in the retail activity provided a 169% increase of gross margin which amounts to 59% of total revenues compared to 29% for the previous fiscal year. Simultaneously, Mandriva continued to pursue an aggresive cost-reduction strategy which resulted in operating expenses being lowered by 42%.
This dual-natured strategy is paying off as consolidated operating losses have dramatically decreased in the second semester of 2001-2002 to -2.1 M¤ versus -3.7 M¤ in the first semester. When compared to previous year, the global operating loss has been reduced by 2.3.

Evolution of operating results, semester by semester (Keuros)


Cost reductions will continue in 2002-2003

In a challenging economic climate, Mandriva's primary objective is to quickly reach the "break-even" point. The restructuring programs first initiated during the 2001-2002 fiscal year will completely take effect by February 2003 when operating expenses will be further reduced to approximately 0.45 ME per month (with 65 full-time employees), compared to 1.6 ME per month (and 150 employees) in March 2001. As a result, Mandrivasoft is likely to reach break-even (month by month) soon thereafter.

About Mandriva

Mandriva is one of the leading distributors of Linux and open source software (unrestricted access to the source code according to the GPL - General Public License). Mandrivasoft develops and distributes the Mandriva Linux operating system. Large numbers of developers around the world, using the Internet, continuously enhance the product and extend its internationalization (now more than 50 languages available). The company also provides related off-line services (consulting, education, support) as well as on-line services (e-support ).

Mandriva has established headquarters in the U.S.A., Canada and France. Since 30th July 2001, Mandriva is traded at Euronext Paris "Marché Libre".

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