Corporate | 25 July 2008 08:15
ATOSS Software AG / Quarter Results/Forecast 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. ---------------------------------------------------------------------- Corporate News ATOSS Software AG reports new record figures, half-year results significantly above last year, margin on sales now 21%, forecast raised. Munich, July 25, 2008 – ATOSS Software AG, the specialist in software solutions covering all aspects of intelligent workforce management and scheduling, continues to record undiminished growth. Provisional figures show sales in the first half-year up 14% at EUR 13.3 million (previous year EUR 11.7 million). Meanwhile, in the second quarter ATOSS accelerated sales growth still further with an increase of 17%. Key results have improved even more strongly with operating profits to June 30, 2008 coming in at more than € 2.7 million, up 45% on the year before (€ 1.9 million), in line with the margin on sales of 21%. ATOSS Software AG has not only maintained but actually accelerated its sustained pattern of growth. In view of the substantial increase in orders on hand as well as the current results, the Management Board expects this positive development to continue and has adjusted its forecasts accordingly. The operating profit of over € 4 million (previous year € 3.7 million) thus far expected for the financial year is now likely to be substantially exceeded. Strong development in sales of software licenses and consulting Having already put on satisfying growth in the first quarter of 2008, ATOSS was able to record a further marked increase in this trend in Q2. Sales climbed 17% to above € 6.9 million (previous year € 5.9 million), with consulting services in strong demand alongside software licenses. Overall in the first half of 2008 ATOSS recorded sales up by 14% from € 11.7 million last year to € 13.3 million. In the process, the Munich-based software specialist has added a substantial number of new customers to its portfolio, including more prominent clients in the retail sector. This sector in particular is experiencing an upturn in investment, as increasingly flexible opening times call for professional personnel resource planning. This rising demand was reflected in particular in burgeoning sales of software licenses and consulting services. Turnover in software licenses in the first half of 2008 rose by 12% from € 2.5 million to € 2.8 million, with consulting in association with new projects actually putting on 23% from € 3.0 to € 3.7 million. Robust stability is a key element in corporate strategy Following on from the growth in software licenses, ATOSS continues to record constant positive development in the field of software maintenance. In the first half of 2008, income from software maintenance revenues climbed 10% from € 4.5 million to € 4.9 million, and accounted for 37% of Group turnover. With a customer base established over a long period of time, ATOSS enjoys considerable stability in this field. In addition to further enhance the stability of its turnover, ATOSS generally books software licensing sales in line with project progress, rather than at the time contracts are concluded. To underpin further growth, expenditure on research and development in the first half was also increased by 12% to € 2.4 million (previous year € 2.2 million). The company has also continued to expand its consulting capacities which remain well utilized. Against this background ATOSS looks forward to further substantial growth. Outstanding increase in results, operating margin climbs to 21% After booking an operating profit of € 1.3 million in Q1, ATOSS went on to achieve a result in excess of € 1.4 million (previous year € 1.0 million) in the second quarter of 2008. EBIT in the first half of 2008 was accordingly up 45% at over € 2.7 million (previous year € 1.9 million). Similarly, the net result (€ 1.7 million, up from € 1.2 million last year) as well as earnings per share at € 0.43 (previous year € 0.31) also rose at a disproportionate rate relative to sales. The operating margin reached 21%, compared with 16% in the preceding year. Operating cash flow in the first half remained positive at € 0.5 million, but lagged behind the previous year’s figure of € 2.2 million. Even after paying a dividend of around € 1.2 million, liquidity was up 6% over the year before at € 12.5 million. ATOSS thus had funds of € 3.12 per share in circulation at its disposal, compared with € 2.97 in the year before. The company’s financial strength remains undiminished with a strong equity ratio of 61% (previous year 57%). Strong order book underpins further profitable growth With EBIT of € 2.7 million already booked to June 30, 2008 and orders on hand for software licenses up 32% at € 2.0 million (previous year € 1.5 million) due in particular to the strong order intake in the second quarter, the Management Board expects the business to continue to develop along highly positive lines. The previous forecast which foresaw a full-year operating result in excess of € 4 million (previous year € 3.7 million) for 2008 has therefore been revised upwards. EBIT is now expected to be substantially above € 4 million, with the company achieving a new record result. Upcoming dates: August 22, 2008 Publication of the 6-monthly financial statements October 24, 2008 Press release announcing the 9-monthly statements November 21, 2008 Publication of the 9-monthly financial statementsFurther information available from: http://www.atoss.com Contact: ATOSS Software AG Christof Leiber / Member of the Management Board Am Moosfeld 3, D-81829 Munich fon.: +49 (0) 89 4 27 71 – 265 fax: +49 (0) 89 4 27 71 – 100 investor.relations@atoss.comCONSOLIDATED OVERVIEW : Half-yearly comparison to June 30In T€ as per 01.01.2008 Proportion of 01.01.2007 Proportion of Chan IFRS - Total sales - Total sales ge 30.06.2008 revenues 30.06.2007 revenues Sales 13,319 100 % 11,653 100 % 14 % Software 7,713 58 % 6,966 60 % 11 % of which 2,820 21 % 2,508 22 % 12 % software licensing of which 4,894 37 % 4,459 38 % 10 % software maintenance Consulting 3,664 28 % 2,978 26 % 23 % Hardware 1,540 12 % 1,361 12 % 13 % Miscellan- 403 3 % 347 3 % 16 % eous EBITDA 2,916 22 % 2,135 18 % 37 % EBIT 2,735 21 % 1,882 16 % 45 % EBT 2,555 19 % 2,069 18 % 24 % Net income 1,731 13 % 1,244 11 % 39 % Cash flow 522 4 % 2,239 19 % -77 % Liquidity 12,472 11,743 6 % (1) L EPS (in 0.26 0.31 38 % euro) Employees 207 188 10 % (3)CONSOLIDATED OVERVIEW : Quarterly comparison with the previous yearIn T€ as per IFRS Q2/08 Q1/08 Q4/07 Q3/07 Q2/07 Sales 6,921 6,399 6,670 6,099 5,924 Software 3,996 3,717 3,900 3,782 3,594 of which software licensing 1,513 1,307 1,419 1,482 1,345 of which software 2,484 2,410 2,481 2,300 2,249 maintenance Consulting 1,894 1,770 1,740 1,489 1,486 Hardware 814 725 678 644 664 Miscellaneous 216 186 352 184 180 EBITDA 1,521 1,395 1,050 1,020 1,147 EBIT 1,429 1,306 941 907 1,014 EBIT margin in % 21 % 20 % 14 % 15 % 17 % EBT 1,549 1,006 1,075 1,028 1,108 Net income 1,046 685 693 564 664 Cash flow -2,513 3,035 -1,325 3,238 -762 Liquidity (1/2) 12,472 16,375 13,468 14,841 11,743 EPS (in euro) 0.17 0.17 0.17 0.14 0.17 Employees (3) 207 198 195 192 188(1): Cash and marketable securities (2): Dividends of € 0.24 per share paid on April 27, 2007 and € 0.31 per share on April 30, 2008; (3): At end of quarter 25.07.2008 Financial News transmitted by DGAP ---------------------------------------------------------------------- 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 Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Stuttgart, München, Hamburg, Düsseldorf End of News DGAP News-Service ---------------------------------------------------------------------------