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ATOSS Software AG — Earnings Release 2013
Oct 21, 2013
38_rns_2013-10-21_00bfbd70-5174-4169-a0c8-b4631de25a12.html
Earnings Release
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Corporate | 21 October 2013 08:00
ATOSS Software AG: ATOSS Software AG continues to record growth for eight years in succession: Q3 2013 sets new records
ATOSS Software AG / Key word(s): Quarter Results/Preliminary Results
21.10.2013 / 08:00
Corporate News
ATOSS Software AG continues to record growth for eight years in succession: Q3 2013 sets new records.
Munich, 21.10.2013 – Provisional figures show that ATOSS Software AG achieved sales of EUR 26.5 million and an operating profit (EBIT) of EUR 6.5 million in the first nine months of 2013. Revenues were up 8 percent while EBIT grew by 10 percent, with the margin on sales unchanged at last year’s high level of 24 percent. Q3 2013 was itself the strongest in the company’s history with sales of EUR 8.9 million. The high level of orders received and on hand underscore the relevance of workforce management.
The company’s highly gratifying development at an operating level, especially in its core software segment, offers proof of the stability of the ATOSS Software AG business model. Sales of software in the first three quarters of 2013 climbed 9 percent above the same period last year to reach EUR 16.2 million (previous year: EUR 14.9 million). This equates to 61 percent of the Group’s overall turnover. The software licensing business in particular developed strongly, putting on 10 percent to stand at EUR 5.6 million (previous year: EUR 5.1 million). Maintenance, too, at EUR 10.7 million (previous year: EUR 9.8 million) was up by 9 percent over the same period last year, continuing a trend that has been evident for some years.
The order situation has also developed along positive lines. With orders worth EUR 5.1 million (previous year: EUR 4.8 million) received and an order book on hand valued at EUR 3.3 million (previous year: EUR 3.0 million) as of 30 September 2013, the Management Board can look forward to further strong performance from the Munich-based specialist in workforce management.
Profitability further improved, cash flow up 59 percent
In the first nine months of 2013 ATOSS Software AG has demonstrated the profitability of its business operations with EBIT up 10 percent at EUR 6.5 million (previous year: EUR 5.9 million). The company can also point to a stable EBIT margin of 24 percent despite substantial future-oriented investments in development and marketing. The positive development in results and accruals and deferrals essentially contingent on the qualifying dates combined with a reduction in receivables to boost cash flow by a hefty 59 percent from EUR 5.3 million last year to over EUR 8.4 million as of 30 September 2013. Following the dividend payment totaling EUR 14.4 million at the end of April, by the third quarter liquidity has already increased once more to EUR 16.2 million, equivalent to EUR 4.07 per share. ATOSS continues to dispose over substantial liquid funds which as of 30 September 2013 were composed of one third in gold and two thirds in sight deposits at banks.
Outlook for financial year 2013 remains positive
The market for workforce management continues to record high rates of growth. The effective management of personnel requirements and deployments is of central importance in preserving competitiveness and increasing economic efficiency. These trends are reflected in the current development in business at ATOSS. Against this background the Management Board expects growth seen in previous years to continue during the current year as a whole, with an EBIT margin securely above 20%.
CONSOLIDATED OVERVIEW AS PER IFRS: 9-MONTH COMPARISON IN KEUR
| 01.01.2013 – 30.09.2013 |
Proportion of Total sales revenues |
01.01.2012 – 30.09.2012 |
Proportion of Total sales revenues |
Change 2013 / 2012 |
|
| Sales | 26,480 | 100% | 24,515 | 100% | 8% |
| Software | 16,229 | 61% | 14,851 | 61% | 9% |
| Software licenses | 5,573 | 21% | 5,056 | 21% | 10% |
| Software maintenance | 10,656 | 40% | 9,795 | 40% | 9% |
| Consulting | 6,587 | 25% | 6,534 | 27% | 1% |
| Hardware | 2,588 | 10% | 2,063 | 8% | 25% |
| Miscellaneous | 1,076 | 4% | 1,067 | 4% | 1% |
| EBITDA | 6,913 | 26% | 6,340 | 26% | 9% |
| EBIT | 6,486 | 24% | 5,918 | 24% | 10% |
| EBT | 2,916 | 11% | 6,756 | 28% | -57% |
| Net earnings | 2,133 | 8% | 4,563 | 19% | -53% |
| Cash flow | 8,448 | 32% | 5,300 | 22% | 59% |
| Liquidity (1/2) L |
16,177 | 28,656 | 44% | ||
| EPS (in euro) | 0.54 | 1.15 | -53% | ||
| Employees (3) | 280 | 273 | 3% |
CONSOLIDATED OVERVIEW AS PER IFRS: QUARTERLY COMPARISON IN KEUR
| Q3/13 | Q2/13 | Q1/13 | Q4/12 | Q3/12 | |
| Sales | 8,949 | 8,840 | 8,691 | 8,490 | 8,242 |
| Software | 5,369 | 5,585 | 5,275 | 5,292 | 4,977 |
| Software licenses | 1,779 | 2,025 | 1,769 | 1,931 | 1,655 |
| Software maintenance | 3,590 | 3,560 | 3,506 | 3,361 | 3,322 |
| Consulting | 2,165 | 2,264 | 2,158 | 2,182 | 2,048 |
| Hardware | 1,126 | 569 | 893 | 600 | 851 |
| Miscellaneous | 289 | 422 | 365 | 416 | 366 |
| EBITDA | 2,373 | 2,322 | 2,218 | 1,851 | 2,028 |
| EBIT | 2,230 | 2,186 | 2,070 | 1,702 | 1,881 |
| EBIT margin in % | 25% | 25% | 24% | 20% | 23% |
| EBT | 2,487 | -1,968 | 2,397 | 1,772 | 2,283 |
| Net earnings | 1,707 | -1,307 | 1,733 | 1,197 | 1,551 |
| Cash flow | 5,658 | 297 | 2,493 | -1,945 | 3,143 |
| Liquidity (1/2) | 16,177 | 10,418 | 24,370 | 25,444 | 28,657 |
| EPS (in euro) | 0.43 | -0.33 | 0.44 | 0.30 | 0.39 |
| Employees (3) | 280 | 280 | 279 | 276 | 273 |
(1): Cash and cash equivalents, other current and non-current financial assets (sight deposits, gold) as of the qualifying date, adjusted to exclude borrowings (loans); (2): Dividend of EUR 3.62 per share on 29.04.2013 (TEUR 14,395); (3): At end of quarter / half-year.
Upcoming dates:
11./12.11.2013 Equity Forum, Frankfurt am Main
15.11.2013 Publication of the report for Q3 2013
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
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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| 235275 21.10.2013 |