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ATOSS Software AG — Earnings Release 2012
Jul 23, 2012
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Earnings Release
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Corporate | 23 July 2012 08:00
ATOSS Software AG reports continuing positive business development
ATOSS Software AG / Key word(s): Half Year Results
23.07.2012 / 08:00
Corporate News
ATOSS Software AG reports continuing positive business development.
Munich, July 23, 2012 – Following a positive trend in the period from April to June, ATOSS Software AG reports new record sales and earnings figures for the first half of 2012. Sales booked by the specialist in workforce management climbed three percent to EUR 16.3 million in the first six months of 2012. With operating profits (EBIT) up four percent at EUR 4.0 million and an EBIT margin of 25 percent, the Munich company has once again demonstrated its profitability. Earnings per share came in at EUR 0.76 (previous year EUR 0.68).
ATOSS records robust growth
In the first half of 2012 ATOSS Software AG recorded sales of EUR 16.3 million (previous year EUR 15.8 million). The core software segment put on six percent to reach EUR 9.9 million (previous year EUR 9.3 million) and accounted for 61 percent (previous year 59 percent) of total sales revenues. Consulting sales were up four percent at EUR 4.5 million (previous year EUR 4.3 million), equivalent to 28 percent of the total, compared with 27 percent last year.
Orders received for software licenses as of June 30, 2012 amounted to EUR 2.8 million (previous year EUR 3.3 million). In April and May in particular, it was evident that the appetite for investment is weakening in the marketplace. Orders on hand at the end of June 2012 thus far remained at a satisfactory level of EUR 2.7 million (previous year EUR 3.1 million).
ATOSS demonstrates stability and profitability
Business at ATOSS remains stable as well as profitable. Earnings before interest and taxes (EBIT) reached a new record of EUR 4.0 million for the reporting period (previous year: EUR 3.9 million). Earnings before taxes (EBT) amounted to EUR 4.5 million (previous year: EUR 4.0 million), while net income came in at EUR 3.0 million (previous year: EUR 2.7 million) with earnings per share of EUR 0.76 (previous year: EUR 0.68). The double-digit growth in each of these key earnings figures outstripped the growth in sales, while the EBIT margin matched the previous year's high level of 25 percent. With stable cost structures and high-quality sales, ATOSS continues to demonstrate robust profitability.
Despite paying EUR 2.8 million in dividends to shareholders (previous year: EUR 2.4 million) liquidity including financial assets amounted to EUR 24.6 million (previous year EUR 22.4 million). Including financial assets, this equates to liquidity of EUR 6.19 per share (previous year: EUR 5.63). Meanwhile the equity ratio of 68% (previous year 61%) underscores the strength of the company's balance sheet.
The sustained stability and profitability displayed by ATOSS offer clear evidence of the success of the company's strategy which is founded on the central importance of research and development. R&D expenditure in the first six months of 2012 amounted to EUR 3.6 million, or 22 percent of sales, some 10 percent higher than in the same period last year.
Increasing relevance of workforce management
Both in-depth observations of the market and practical experience reveal the increasing importance and considerable potential of workforce management. A wide variety of factors are contributing to a constant pressure on companies to structure their work efficiently. On the one hand, economic volatility plays a major role. Globalization and short economic cycles present businesses with a host of challenges that can only be met by adopting a holistic approach. Of similar importance is the process of demographic change which will become even more intensive as time goes on. According to a representative Forsa survey, up to 86 percent of employers are already complaining about the scarcity of skilled labor. What's more, the trend towards more flexible working hours is gathering pace. It is vital that businesses take account of these three important factors. Companies that fail to adopt the strategic solutions offered by workforce management will fail to survive the competition in the long term.
Outlook for the current second half-year
With the first six months of 2012 now behind us, ATOSS has recorded continuous positive sales and earnings development. However, a generally slightly weaker appetite for investment was evidenced by the order intake development for software licenses reflecting an uncertain economic climate. Against this background, the outlook of the Management Board for the full year 2012 indicating moderate growth, is subject to a recovery in investment in the second half-year. Despite the company's own scheduled investments in sales and marketing in particular, the operating margin on sales (EBIT) will remain securely above 20 percent.
Upcoming dates:
13.08.2012 Publication of the report for H1 2012
22.10.2012 Press release – statements for Q3 2012
14.11.2012 Equity forum, Frankfurt am Main
15.11.2012 Publication of the report for Q3 2012
Further 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 – 0
Fax: +49 (0) 89 4 27 71 – 100
CONSOLIDATED OVERVIEW AS PER IFRS: HALF-YEARLY COMPARISON IN T EUR
| 01.01.2012 – 30.06.2012 |
Proportion of Total Sales |
01.01.2011 – 30.06.2011 |
Proportion of Total Sales |
Change 2012 / 2011 |
|
| Total Sales | 16,273 | 100% | 15,762 | 100% | 3% |
| Software | 9,874 | 61% | 9,280 | 59% | 6% |
| Licenses | 3,401 | 21% | 3,328 | 21% | 2% |
| hie Maintenance | 6,473 | 40% | 5,952 | 38% | 9% |
| Consulting | 4,486 | 28% | 4,306 | 27% | 4% |
| Hardware | 1,212 | 7% | 1,435 | 9% | -16% |
| Others | 701 | 4% | 741 | 5% | -5% |
| EBITDA | 4,312 | 26% | 4,108 | 26% | 5% |
| EBIT | 4,037 | 25% | 3,877 | 25% | 4% |
| EBT | 4,473 | 27% | 3,982 | 25% | 12% |
| Net income | 3,012 | 19% | 2,704 | 17% | 11% |
| Cash flow (4) | 2,157 | 13% | 3,842 | 24% | -44% |
| Liquidity (1/2) L |
24,615 | 22,375 | 10% | ||
| EPS (in EUR) | 0.76 | 0.68 | 12% | ||
| Employees (3) | 266 | 249 | 7% |
CONSOLIDATED OVERVIEW AS PER IFRS: QUARTERLY COMPARISON IN T EUR
| Q2/12 | Q1/12 | Q4/11 | Q3/11 | Q2/11 | |
| Total Sales | 8,437 | 7,836 | 8,229 | 7,584 | 7,913 |
| Software | 5,017 | 4,857 | 4,891 | 4,651 | 4,705 |
| Licenses | 1,745 | 1,656 | 1,772 | 1,586 | 1,676 |
| Maintenance | 3,272 | 3,201 | 3,119 | 3,065 | 3,029 |
| Consulting | 2,248 | 2,238 | 2,145 | 1,931 | 2,184 |
| Hardware | 665 | 547 | 607 | 764 | 548 |
| Others | 507 | 194 | 586 | 239 | 476 |
| EBITDA | 2,207 | 2,105 | 1,894 | 1,792 | 2,054 |
| EBIT | 2,070 | 1,967 | 1,766 | 1,665 | 1,941 |
| EBIT margin in % | 25% | 25% | 21% | 22% | 25% |
| EBT | 2,147 | 2,326 | 1,812 | 2,617 | 2,015 |
| Net income | 1,465 | 1,547 | 1,199 | 1,772 | 1,367 |
| Cash flow (4) | -1,001 | 3,158 | -1,641 | 3,117 | 799 |
| Liquidity (1/2) | 24,615 | 28,496 | 24,851 | 26,349 | 22,375 |
| EPS (in EUR) | 0.37 | 0.39 | 0.30 | 0.45 | 0.34 |
| Employees (3) | 266 | 265 | 269 | 259 | 249 |
(1): Cash and cash equivalents, current and non-current financial assets (e.g. gold, equities); (2): Dividend of EUR 0.60 per share on May 4, 2011 (TEUR 2,386) and EUR 0.71 on April 23, 2012 (TEUR 2,832); (3): At the end of the quarter/half; (4) Cash flow in comparison with 2011 adjusted for interest income and expenditure, since from December 31, 2011 this is reported within cash flow from investment activities.
End of Corporate News
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| Language: | English |
| Company: | ATOSS Software AG |
| Am Moosfeld 3 | |
| 81829 München | |
| Germany | |
| Phone: | +49 (0)89 4 27 71-0 |
| Fax: | +49 (0)89 4 27 71-100 |
| E-mail: | [email protected] |
| Internet: | www.atoss.com |
| ISIN: | DE0005104400 |
| WKN: | 510440 |
| Listed: | Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, Hamburg, München, Stuttgart |
| End of News | DGAP News-Service |
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| 178722 23.07.2012 |