Annual Report 2008 - (Page 39) SUSTAINED GROWTH • Bentley has generated continuous revenue growth at a compound annual rate of 14% over the last 15 years, and again sustained this consistent performance in 2007 with revenue growth of nearly 16% and continued organic growth, to $450 million. • Stability and predictability in Bentley’s revenue stream results from a large subscription base which continues to approximate 2/3 of all revenues, reflecting sustained new value delivered to subscribers. • While growing ambitiously, the company maintains a sustainably conservative capital structure, with debt at a fraction of equity. • In addition to record operating cash flows and healthy balance sheet, Bentley enhanced its liquidity in 2007 with a new $200M credit facility to support future acquisitions. • Bentley remains committed to re-investing 20% of its license, subscription, and training revenues into R&D. • Bentley has committed to reducing its per-colleague carbon consumption runrate by at least 15% by the end of 2009. • To reduce carbon emissions, Bentley held an on-line “Virtual Sales Kickoff” in early 2008, eliminating the need for hundreds of colleagues to travel to the annual sales training event. 40
For optimal viewing of this digital publication, please enable JavaScript and then refresh the page. If you would like to try to load the digital publication without using Flash Player detection, please click here.