IBM Australia’s revenue fell by more than AU $ 300 million in 2019 | Instant News


The IBM Australia arm has made its financial results available for 2019, reporting a net profit of AU $ 109 million, slightly down from AU $ 119 million made a year earlier.

Total revenue for this year, however, fell by more than AU $ 300 million to only slightly from AU $ 2.6 billion, the cost of sales was reduced by about the same amount from AU $ 2.25 billion to AU $ 1.93 billion, while sales company, general, and administrative costs have remained stable at AU $ 453 million.

All IBM Australia segments send weaker revenue throughout the year. This consisted of a contribution of AU $ 1.04 billion from its global technology services, down from AU $ 1.16 billion; AU $ 622 million from cloud and cognitive software, compared to AU $ 726.7 million; global business services generated AU $ 33 million less with revenues of AU $ 503 million; inter-company services and sales provided AU $ 299 million, AU $ 15 million less than the previous year; while system sales earned AU $ 111 million, a decrease of AU $ 61 million from the previous year.

In terms of taxes, IBM Australia reduced its income tax payments from AU $ 52 million last year to AU $ 41.4 million for the year ended December 31, 2019.

Unlike last year, when the Big Blue Australia branch paid AU $ 150 million in dividends to its parent company, the company also stated that no dividends would be paid for financial year 2019.

While the company did not specify how many staff it employed in Australia, the company reported AU $ 687 million under the employee salary header, nearly AU $ 20 million lower than the previous year.

See also: IBM says it gives employees the opportunity to ‘compete for position’

The IBM Australia arm also had a board reshuffle during the 2019 financial year, with David La Rose, John Buhman, and Deidre McGrath resigning from their directors’ roles. La Rose, who is managing director of IBM Australia, moved to the United States to take on the role of general manager for IBM Partner Ecosystem.

Katrina Troughton and Anthony Martinetti were then appointed directors in August and September, respectively, with Troughton taking over the coat of managing director of La Rose.

As of July 2018, the local IBM branch is submit a contract of AU $ 1 billion from the Australian government to become an all-government technology partner, which means that all 17 departments – even those without authority over IBM – will use the Big Blue system until 2023.

It was revealed in March that an Australian government entity was openly granted nearly AU $ 4.3 billion to IBM Australia for services under the “engineering and research and technology-based services” and “broadcasting information and telecommunications technology” categories for a 10-year period from 2009 to 2019.

The parent company of IBM Australia reported non-GAAP Q1 earnings per share of $ 1.84 on revenue of $ 17.6 billion, down 3.4% YoY.

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