Corporate | 31 January 2007 08:25
ATOSS Software AG / Final Results/Dividend Corporate news transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. ---------------------------------------------------------------------- Corporate News ATOSS Software AG: Records set in the 2006 business year; results of ordinary business activities show marked gains. Munich, January 31, 2007 – In the fourth quarter of 2006, ATOSS Software AG, the specialist for software solutions revolving around intelligent personnel deployment, continued its record performance. The targets cited after the third forecasting adjustment for the reporting year were even exceeded. On the back of 8% sales gains - or 10% adjusted by the proceeds from the sale of the AENIS software product - to just € 22.0 million, profits were boosted by a disproportionate measure. In the 2006 business year the results of ordinary business activities (EBIT) rose from € 0.6 million to € 2.8 million, which is more than a fourfold increase. With this figure, ATOSS achieved a sales margin of 13% (previous year: 3%), thereby slightly exceeding the last forecasts. The earnings per share also showed a significant increase from € 0.12 in the previous year to € 0.48 in the business year, thereby exceeding the expectations cited at € 0.45. At the general meeting a dividend payment of € 0.24 per share will be proposed. Against the background of the company’s long-term dividend policy which foresees disbursements in the order of 30 to 50% of profit per share, this recommendation is at the top end of the dividend scale. With this performance, ATOSS Software AG looks back on what has proved the most successful business year in the history of the company. The exceptionally successful market launch of ATOSS software solutions based on the new technology standards (J2EE Java) played a pivotal role here, as well as the strong focus on the core topics of working time management and personnel deployment planning. On this foundation, ATOSS was able to achieve considerable gains, especially in the software license business, but also in other sales areas, thereby elevating key performance figures such as the operating cash flow, the operating margin and all results key figures to record levels. At 22 % return on equity (previous year: 2%) reached the best level since the company was launched on the stock market. In 2006, software licenses sales were up by 15% to € 4.6 million, and adjusted by the sales in the previous year attributable to the AENEIS product that was sold as of January 1, 2006, growth stood at 21%. Lively customer demand was more clearly reflected by the incoming orders for software licenses, which rose by 24% to € 5.4 million. In the Services area, ATOSS boosted sales by 12% to almost € 5.6 million, and the increase in Hardware came in at 21% to a total of € 2.8 million. In view of this situation it is evident that the high level of activities in the research and development area over the past years have paid off, a fact that is also underlined by orders placed by notable companies such as Austrian Airlines, T-Punkte, Edeka or Max Bahr. In the case of further existing customers such as Coca Cola Erfrischungsgetränke AG ATOSS succeeded in placing the new product generation based on Java J2EE technology. The gratifying business developments of the 2006 business year also strengthen planning security for the ongoing year 2007. Comfortable capital resources Following the very high outpayment of funds not required for operational purposes which amounted to € 21.5 million, ATOSS continues to command first class financial strength and very comfortable liquidity reserves. As in the past, the Munich based software house has been able to finance the expenditures for research and development that remain on a very high level at € 3.9 million (previous year: € 4.1 million) out of the operating cash flow. Operating cash flow on record level: 20% of sales With operating cash flow for the entire year of € 4.3 million, ATOSS has not only generated a considerable appreciation over the previous year's figure (around € 1.4 million in 2005), but has also achieved the strongest operating cash flow in the history of the company, thereby demonstrating the notable liquidity generating strength of the business model. In terms of seasonal developments, the first and third quarter show higher figures due to the maintenance fee payments, while the second and fourth quarter tend to show lower, or negative cash flows. Liquidity once again in the region of € 11 million; capital-asset ratio stands at 55% In May, ATOSS had made a dividend payment of € 5.5 per share, which totaled just under € 21.5 million. Adjusted by this dividend appropriation, liquidity by a year-on-year comparison rose markedly by € 4.4 million to € 10.8 million, or € 2.75 per share. Subsequent to the special dividend payout, ATOSS continues to command a very comfortable capital-asset ratio of 55% (previous year: 84%). On this foundation, ATOSS generated return on equity of 22% in 2006 following on 2% in 2005. Conservative outlook maintained Against the background of the continuous positive business developments in 2006 the management board is confident that the gratifying company developments will continue in 2007. Nevertheless, the company is adhering to its traditionally conservative planning and forecasting policies. With a look to 2007, ATOSS anticipates a slight improvement in the software license situation and is assuming overall moderate sales gains in the course of the year. Additional potential is also seen with regard to profit, and gains are also expected over the results of 2006, adjusted by extraordinary income in 2006. This refers to extraordinary income from the sale of the AENIS software product amounting to € 0.4 million which was recorded in 2006. As in the 2006 business year, further improvements are possible given a continuation of the gratifying order situation. The increased acquisition of premium customers on the basis of a clear positioning, leading edge technologies and a strong financial position will continue to form the core of the ATOSS corporate strategy. GROUP OVERVIEW: annual comparision according to IFRS (Preliminary Figures for 2006)TEUR 01.01- Perce- 01.01- Perce- Change .2006 ntage .2005 ntage - - 31.12- 31.12- .2006 .2005 Revenues 21,991 100% 20,416 100% 8% Software 12,929 59% 12,144 59% 6% thereof software 4,612 21% 4,001 20% 15% licences thereof software 8,317 38% 8,143 40% 2% maintenance Consulting 5,558 25% 4,963 24% 12% Hardware 2,809 13% 2,321 11% 21% Other 695 3% 988 5% -30% EBITDA 3,210 15% 1,189 6% >100% EBITCB (1) 2,868 13% 882 4% >100% EBIT 2,779 13% 563 3% >100% EBT 3,193 15% 1,112 5% >100% Net Income 1,885 9% 459 2% >100% Cash Flow (5) 4,312 20% 1,406 7% >100% Financial Resources 10,784 27,836 -61% (2 / 3) EPS (in Euro) 0.48 0.12 >100% Employees (4) 169 177 -5%GROUP OVERVIEW: Quarterly comparison according to IFRS (Preliminary Figures for Q4)TEUR Q4/ 06 Q3/06 Q2/06 Q1/06 Q4/05 Revenue 6,061 5,538 5,275 5,117 5,849 Software 3,459 3,346 3,068 3,056 3,359 thereof software 1,252 1,248 1,038 1,074 1,283 licences thereof software 2,206 2,098 2,030 1,982 2,076 maintenance Consulting 1,489 1,361 1,362 1,346 1,336 Hardware 904 648 671 587 836 Other 209 184 173 129 318 EBITDA 798 910 692 811 944 EBITCB (1) 690 819 604 755 910 EBIT 684 802 587 706 830 EBIT-Margin in % 11% 14% 11% 14% 14% EBT 809 856 666 862 980 Net Income 488 542 358 497 510 Cash Flow (5) -1,045 2,600 107 2,650 -1,469 Financial Resources 10,784 11,664 9,119 30,543 27,836 (2 / 3) EPS (in Euro) 0.12 0.14 0.09 0.13 0.13 Employees (4) 169 171 162 165 177(1): EBIT before cost of employee participation program arising from convertible bonds (2): Liquid funds and marketable securities (3): Disbursement of EUR 5.50 per share on May 3, 2006 (4): at the end of quarter (5) adjusted by the effects of the disposal of AENEIS Upcoming Dates: 14.03.2007 Publication of the (consolidated) annual report 24.04.2007 Press Release Q1 2007 26.04.2007 Annual Meeting, Munich Further Information: http://www.atoss.com Contact: ATOSS Software AG Christof Leiber / Member of the Board Am Moosfeld 3, D-81829 München Phone: +49 (0) 89 4 27 71 – 265 Fax: +49 (0) 89 4 27 71 – 100 investor.relations@atoss.com DGAP 31.01.2007 ---------------------------------------------------------------------- Language: English Issuer: ATOSS Software AG Am Moosfeld 3 81829 München Deutschland Phone: +49 (0)89 4 27 71-0 Fax: +49 (0)89 4 27 71-100 E-mail: revolution-in-time@atoss.com WWW: www.atoss.com ISIN: DE0005104400 WKN: 510440 Indices: Listed: Geregelter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin-Bremen, Stuttgart, München, Hamburg, Düsseldorf End of News DGAP News-Service ---------------------------------------------------------------------------