Corporate | 29 January 2010 08:14
ATOSS Software AG / Final Results/Preliminary Results 29.01.2010 Dissemination 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 achieves record result in crisis year 2009 Munich, 29.01.2010 - ATOSS Software AG, the specialist in workforce management, generated a record result for the fourth time in succession in 2009 despite the worldwide recession. Business in the fourth quarter proved to be particularly buoyant. ATOSS achieved 8% sales growth in 2009, taking its turnover to EUR 29.1 million (previous year: EUR 26.9 million). The operating profit (EBIT) climbed 9% to EUR 5.5 million (previous year: 5.0 million), exceeding even the increased forecast issued on October 22, 2009. Earnings per share actually increased by 14% to EUR 1.00 (previous year: EUR 0.88). Cash flow also increased strongly to EUR 7.6 million (previous year: EUR 2.5 million), while liquidity climbed from EUR 14.0 million to EUR 19.3 million. The strong trend in recent years underscores the fact that the solutions ATOSS develops are in demand both in a positive economic environment as well as in difficult times. The concept of workforce management and the associated potential to optimize personnel deployment present opportunities that no longer exist in areas such as purchasing and production, where the potential for rationalization has largely been exhausted. Research and development also at a record level The Board of Management believes that the success of ATOSS is in large measure attributable to the switch to pioneering new technologies in 2005 that have endowed the company with decisive competitive advantages. As an integral part of the company's strategy, spending on research and investment was once again increased in 2009, and the long-term customer benefits and distinguishing features of ATOSS products and services were extended still further. In the year 2009 alone, some EUR 5.6 million was invested in developing new and refining existing products and services. This also marked a new record and represented a 10% increase over the year before. Record figures for the full year and for Q4 For the fourth year in succession ATOSS has achieved record sales and earnings in 2009. The company generated consolidated sales of EUR 29.1 million in 2009 (previous year: EUR 26.9 million). Sales of software rose by 5% from EUR 16.0 million to EUR 16.8 million, while consulting sales climbed 16% from EUR 7.4 million to EUR 8.5 million. In its non-core business, ATOSS recorded hardware sales of EUR 2.3 million (previous year EUR 2.8 million) and other sales revenues of EUR 1.5 million (previous year EUR 0.8 million). In the course of the year ATOSS generated sales in excess of EUR 7.0 million in each individual quarter and posted a new fourth quarter record of EUR 7.7 million (previous year: EUR 6.9 million). Orders received for software licenses ranged on a quarterly basis between EUR 1.1 and 2.8 million, amounting to a total for the year of EUR 7.0 million (previous year: EUR 6.6 million). As a result, orders on hand on December 31, 2009 stood at EUR 3.3 million (previous year: EUR 2.5 million). Above-average increase in earnings and outstanding development in cash flow and liquidity The operating profit (EBIT) climbed 9% to EUR 5.5 million (previous year: EUR 5.0 million), while earnings before taxes (EBT) increased by 14% to EUR 5.9 million (previous year: EUR 5.1 million). Net income was up 13% at EUR 4.0 million (previous year: EUR 3.5 million), and earnings per share reached a new peak of EUR 1.00 (previous year: EUR 0.88). The company's success was also reflected in highly positive cash flow and liquidity. In fact, ATOSS boosted cash flow by 204% over the year before, posting a figure of EUR 7.6 million, equal to 26% of sales. As a result, liquidity grew by 38% to EUR 19.3 million. ATOSS can now point to cash flow of EUR 1.92 per share and liquidity of EUR 4.88 per share. Due to the substantial increase in the balance sheet total, the equity ratio on the closing date stood at 57.2% (previous year: 64.1%). Outlook: ATOSS plans for development at a record level ATOSS Software AG began the new financial year 2010 with no reliance on external lenders, an extremely sound financial base and a software licensing order book worth EUR 3.3 million. The Board of Management is satisfied that the subject of workforce management will continue to gain in importance: large numbers of companies still have considerable scope for optimization in the field of human resources. Intelligent personnel deployment is a decisive factor in securing competitive advantages, and ranks as a central and crucial aspect in determining future corporate success. ATOSS Software AG will therefore continue to consistently pursue its strategy of sustained investment in research and development in order to expand its market position. Another important undertaking is to strengthen the company's presence in individual regions. With this aim in mind, the company is purchasing the premises it has previously rented in Meerbusch near Düsseldorf, effective as from January 1, 2010. The purchase price of just under EUR 2.1 million will be covered out of liquidity. With no further rental payments, the transaction will have a mildly positive effect on earnings from financial year 2010 onwards. The Board of Management also views the purchase of this property as a diversification of the company's long-term investments. In addition to strengthening its regional activities, the company also sees substantial medium-term opportunities for growth in its international business. ATOSS is already represented worldwide with its solutions deployed in 23 countries, even without maintaining costly local offices of its own. As the company becomes increasingly successful in attracting multi-national clients, it is to be expected that international business will steadily acquire greater significance in future. In the new year 2010, company management expects the business developments to continue at the same level as in the record year 2009. The company will maintain its conservative accounting practices, the high level of transparency in its reports and also its cautious forecasting policy. By preserving continuity ATOSS intends to remain a company to rely on, not least in the degree to which its shareholders participate in its success. Therefore, company management will propose that last year's dividend of EUR 0.44 per share will be increased. The respective decision by the Supervisory Board will be taken by the end of February. Upcoming dates: 12.03.2010 Publication of the consolidated annual financial statements for 2009 26.04.2010 Press release announcing the 3-monthly statements 30.04.2010 Annual general meeting in Munich CONSOLIDATED OVERVIEW: Year-on-year comparison to December 31 (2009 figures are provisional)In TEUR (as 01.01.2009 Proportion of 01.01.2008 Proportion of Change per IFRS) - Total sales - Total sales 2009 / 31.12.2- revenues 31.12.2- revenues 2008 009 008 Sales 29,087 100% 26,943 100% 8% Software 16,771 58% 16,017 59% 5% of which 6,140 21% 6,064 23% 1% software licensing of which 10,631 37% 9,953 37% 7% software maint. Consulting 8,518 29% 7,363 27% 16% Hardware 2,301 8% 2,769 10% -17% Miscellan- 1,497 5% 794 3 % 89% eous EBITDA 5,903 20% 5,429 20% 9% EBIT 5,519 19% 5,046 19% 9% EBT 5,854 20% 5,115 19 % 14% Net income 3,964 14% 3,510 13 % 13% Cash flow 7,612 26% 2,501 9 % >100% Liquidity 19,328 14,000 38% (1/2) EPS (in 1.00 0.88 14% euro) Employees 234 226 4% (3)CONSOLIDATED OVERVIEW: Quarterly comparison (figures for Q4 2009 are provisional)In TEUR (as per IFRS) Q4/09 Q3/09 Q2/09 Q1/09 Q4/08 Sales 7,696 7,233 7,026 7,132 6,876 Software 4,331 4,090 4,162 4,188 4,178 of which software licensing 1,590 1,425 1,551 1,575 1,642 of which software 2,741 2,666 2,612 2,613 2,536 maintenance Consulting 2,382 1,986 2,157 1,992 1,839 Hardware 726 666 345 564 689 Miscellaneous 257 491 361 388 170 EBITDA 1,239 1,557 1,498 1,610 1,203 EBIT 1,132 1,463 1,405 1,520 1,097 EBIT margin in % 15% 20% 20% 21% 16% EBT 1,260 1,516 1,472 1,607 1,166 Net income 867 1,023 995 1,080 831 Cash flow 386 3,695 748 2,782 -1,055 Liquidity (1/2) 19,328 19,182 15,549 16,680 14,000 EPS (in euro) 0.22 0.26 0.26 0.27 0.21 Employees (3) 234 232 224 220 226(1): Cash and marketable securities (2): Dividend of EUR 0.44 per share paid on 04.05.2009 (previous year EUR 0.31); (3): At the end of the quarterFurther information available from: 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.com 29.01.2010 Ad hoc announcement, Financial News and Media Release distributed by DGAP. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------------- Language: English Company: 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: investor.relations@atoss.com Internet: www.atoss.com ISIN: DE0005104400 WKN: 510440 Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, München, Düsseldorf, Stuttgart, Hamburg End of News DGAP News-Service ---------------------------------------------------------------------------