Corporate | 26 July 2007 08:30
ATOSS Software AG / Half Year Results Release of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer / publisher is solely responsible for the content of this announcement. ---------------------------------------------------------------------- ATOSS Software AG: Sustained increase in sales and results leads to the best half-year figures in the company’s history; forecast for 2007 raised to record level. Munich, July 26, 2007 – The positive development in business at ATOSS, the Munich-based specialist in software solutions covering all aspects of intelligent staff deployment, has resulted in new record figures for the first half of 2007. Sales were up by 12 percent over the year before at € 11.7 million, while EBIT climbed 46 percent to € 1.9 million. The company has just posted the best half-yearly results in its history. The margin on sales amounted to 16 percent (previous year 12 percent). Looking ahead to financial year 2007 as a whole, the Management Board now anticipates achieving a further record result with operating profits of at least € 3.0 million. ATOSS Software AG has once again recorded continued growth in the second quarter of 2007. While provisional figures show total sales rising 12 percent over the same period last year to stand at € 5.9 million, software licensing soared 30 percent to over € 1.3 million. Operating profits (EBIT) increased by an exceptional 73 percent to € 1.0 million. Strong development in software licensing In the first half of 2007, the company has raised its software sales by 14 percent to € 7.0 million (previous year € 6.1 million), with software licenses up 19 percent at € 2.5 million (previous year € 2.1 million) and software maintenance up 11 percent at € 4.5 million (previous year € 4.0 million). In the field of consulting, revenues rose by 10 percent to stand at around € 3.0 million (previous year € 2.7 million). In Q2 ATOSS increased sales in the software field by 17 percent over the year before to € 3.6 million (previous year € 3.1 million), with software maintenance revenues rising 11 percent to over € 2.2 million (previous year € 2.0 million) and software licensing adding 30 percent to stand at over € 1.3 million (previous year € 1.0 million). The consulting business also developed well with an increase of 9 percent, taking the total to € 1.5 million (previous year € 1.4 million). This clearly shows that ATOSS Software AG has seamlessly continued the excellent trend in business recorded in 2006. Last year software licensing sales, the real driving force behind the business, rose by 15 percent. In the current year, the rate of increase has been even higher. In the first half of 2007 the company achieved an increase in software licensing of 19 percent over the year before, and growth in Q2 actually reached 30 percent. Moreover, orders on hand for software licenses in the first half of 2007 rose by 17 percent to € 1.5 million, underpinning future forecasts with still greater security. Adjusted operating profits more than doubled The highly positive development in sales in the second quarter has, in particular, contributed to a clear increase in the key profit indicators. For example, the operating result was increased in Q2 by 73 percent to € 1.0 million (previous year € 0.6 million), and in the first half of 2007 by 46 percent to € 1.9 million (previous year € 1.3 million). The margin on sales (EBIT) in the second quarter was 17 percent, compared with 11 percent in the year before. The development in earnings per share was similarly gratifying with the company returning a figure of € 0.17 in Q2 (previous year € 0.09) and € 0.31 overall for the first half (previous year € 0.22). Figures for the same period last year included extraordinary income of € 0.4 million from the sale of the product AENEIS. After adjusting for this effect, profits on ordinary business activities in the first half have more than doubled in comparison with the year before. This also underscores the fact that the conservative profit target of at least € 3.0 million announced by the Management Board for the year 2007 as a whole represents a further substantial increase. In 2006 ATOSS achieved an operating result of € 2.8 million, or € 2.3 million after adjustment for AENEIS. Cash flow from operations and liquidity remain high The gratifying development in sales was also reflected in liquidity which stood at € 11.7 million on June 30, 2007, compared with € 9.1 million in the previous year. Cash flow, too, remained high at € 2.2 million, though it trailed the previous year’s figure of almost € 2.8 million by 19 percent. The effect of the dividend payment of almost € 1.0 million was evident in liquidity in the first six month. ATOSS continues to enjoy first-class funding power and highly comfortable liquid reserves with an equity ratio of 57 percent (previous year: 55 percent). Outlook remains conservative even after new forecast In consideration of the results recorded in the course of the year to date, the Management Board anticipates that another new record result will be achieved in financial year 2007 as a whole. An operating result of at least € 3.0 million is expected. By continuing the actual encouraging business, further improvements will be possible. About ATOSS For more than 20 years ATOSS Software AG has specialized in flexible, demand-oriented staff deployment, offering integrated solutions which encompass consulting, software and professional services. With the ATOSS Staff Efficiency Suite, ATOSS Startup Edition and ATOSS Time Control systems, modular software packages are available to meet all of the requirements of undertakings of all sizes and in all sectors. The software employs the latest technologies and can be integrated into existing IT landscapes without great expense. With 188 employees at eight locations, ATOSS is represented in Germany, Austria and Switzerland. Meanwhile, the deployments of over two million workers employed by more than 3,500 customers are managed with ATOSS solutions. The company’s software products are in use in nine countries and eight languages. CONSOLIDATED OVERVIEW: Half-year comparison to June 30 in T€ (as per IFRS) (figures are provisional)June 30,2007 % of June 30, 2006 Chg. Sales 11,653 100% 10,392 100% 12% Software 6,966 60% 6,124 59% 14% of which software 2,508 22% 2,112 20% 19% licensing of which software 4,459 38% 4,012 39% 11% maintenance Consulting 2,978 26% 2,708 26% 10% Hardware 1,361 12% 1,258 12% 8% Miscellaneous 347 3% 302 3% 15% EBITDA 2,135 18% 1,503 14% 42% EBITCB (1) 1,904 16% 1,358 13% 40% EBIT 1,882 16% 1,293 12% 46% EBT 2,069 18% 1,529 15% 35% Net income 1,244 11% 855 8% 46% Cash flow 2,239 19% 2,757 27% -19% Liquidity (2/3) 11,743 9,119 29% EPS (in euro) 0.31 0.22 43% Employees (4) 188 162 16%CONSOLIDATED OVERVIEW: Quarterly comparison in T€ (as per IFRS) (figures for Q2/2007 are provisional)In T€ as per IFRS Q2/07 Q1/07 Q4/06 Q3/06 Q2/06 Sales 5,924 5,729 6,061 5,538 5,275 Software 3,594 3,373 3,459 3,346 3,068 of which software licensing 1,345 1,163 1,252 1,248 1,038 of which software maintenance 2,249 2,210 2,206 2,098 2,030 Consulting 1,486 1,492 1,489 1,361 1,362 Hardware 664 697 904 648 671 Miscellaneous 180 167 209 184 173 EBITDA 1,147 988 798 910 692 EBITCB (1) 1,024 879 690 819 604 EBIT 1,014 868 684 802 587 EBIT margin in % 17% 15% 11% 14% 11% EBT 1,108 960 809 856 666 Net income 664 580 488 542 358 Cash flow -762 3,000 -1,045 2,600 107 Liquidity (2/3) 11,743 13,619 10,784 11,664 9,119 EPS (in euro) 0.17 0.15 0.12 0.14 0.09 Employees (4) 188 180 169 171 162(1) EBIT before cost of employee convertible bond participation programme (2) Cash and marketable securities (3) Dividend of € 0.24 per share on April 27, 2007 (4) at the end of the quarter Upcoming dates: 23.08.2007 Publication of first-half financial statements for 2007 25.10.2007 Press release announcing 9-month statements for 2007Further information: http://www.atoss.com Contact: ATOSS Software AG Christof Leiber / Member of the Management Board Am Moosfeld 3, D-81829 Munich Tel.: +49 (0) 89 4 27 71 – 265 Fax: +49 (0) 89 4 27 71 – 100 investor.relations@atoss.comDGAP 26.07.2007 ---------------------------------------------------------------------- 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 Internet: www.atoss.com ISIN: DE0005104400 WKN: 510440 Indices: Listed: Geregelter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Stuttgart, München, Hamburg, Düsseldorf End of News DGAP News-Service ---------------------------------------------------------------------------