It also declared that no dividend would be paid to its parent company for the 2019 financial year.
The Australian arm of IBM has made its financial results for 2019 available, reporting net profit of AU$109 million, slightly down from the AU$119 million made a year prior.
Total revenue for the year, however, decreased by over AU$300 million to just shy of AU$2.6 billion, the cost of sales was reduced by around the same amount from AU$2.25 billion to AU$1.93 billion, while the company’s selling, general, and administrative expenses remained steady at AU$453 million.
All of IBM Australia’s segments submitted weaker revenue across the board year on year. This consisted of a AU$1.04 billion contribution from its global technology services, down from AU$1.16 billion; AU$622 million from its cloud and cognitive software, compared to AU$726.7 million; global business services chipped in AU$33 million less with AU$503 million in revenue; intercompany services and sales provided AU$299 million, AU$15 million less year on year; while its systems sales earned AU$111 million, a AU$61 million drop from the year prior.
Tax-wise, IBM Australia decreased 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 Australian arm of Big Blue paid a AU$150 million dividend to its parent companies, the company also declared that no dividend would be paid for the 2019 financial year.
