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ATOSS Software AG — Earnings Release 2013
Jul 22, 2013
38_rns_2013-07-22_86a972ef-eab7-4bbf-9a46-cd1f0f4c83be.html
Earnings Release
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News Details
Corporate | 22 July 2013 08:00
ATOSS Software AG: New records in operational business set, strong order intake
ATOSS Software AG / Key word(s): Half Year Results
22.07.2013 / 08:00
Munich, July 22, 2013 – Provisional figures show that ATOSS Software AG has set new records in both sales and operating results (EBIT) in the first half of 2013, continuing the highly positive trend that has already been maintained for more than seven years. With sales up 8 percent at EUR 17.5 million, EBIT stood 5 percent higher at EUR 4.3 million. Once again, the specialist in workforce management is generating a substantial margin on sales of 24 percent. As already reported, however, financial earnings were negative – in contrast to the highly positive operating result.
In its core software segment ATOSS recorded growth of 10 percent, lifting sales to EUR 10.9 million. Turnover in software licensing actually climbed 12 percent to EUR 3.8 million. Given that orders received for software licenses at EUR 3.6 million developed even more dynamically (previous year EUR 2.8 million), the Management Board expects growth to continue in the current second half.
ATOSS Software AG has now demonstrated strong earnings from its business operations for an eighth year in succession. The highly positive development in software licenses is particularly significant, since this underpins continuous growth in software maintenance. The ATOSS business model is to a large extent based on the high degree of stability which this maintenance provides. As of June 30, 2013 turnover in software maintenance accounted for 40 percent of overall sales revenues, with software licenses contributing 22 percent and consulting 25 percent.
Particularly gratifying increases in orders booked for software licenses were recorded, which had climbed 27 percent to EUR 3.6 million (previous year EUR 2.8 million) as of June 30. Orders on hand for software licenses at the end of June 2013 amounted to EUR 3.6 million compared with EUR 2.7 million on June 30, 2012.
ATOSS Software AG increased its expenditure on development and sales and marketing as planned in the first half of 2013 as a prerequisite for further growth. Despite this, the company advanced its operating profit by 5 percent from EUR 4.0 million to a new record of EUR 4.3 million. In view of the even higher growth in revenues, the margin on sales (EBIT) came in at 24 percent, compared with 25 percent in the year before. However as already announced, as a result of the development in the gold price, financial earnings were substantially negative at – EUR 3.8 million, leading to a reduction in the remaining earnings parameters. Net income came in at EUR 0.4 million compared with EUR 3.0 million in the year before, with earnings per share down from EUR 0.76 to EUR 0.11.
ATOSS succeeded in increasing its cash flow by a substantial 29 percent from EUR 2.2 million in the year before to EUR 2.8 million. As a result of the dividend payment at the end of April, liquidity excluding borrowed funds was EUR 14.2 million lower at EUR 10.4 million, equivalent to EUR 2.62 per share as of June 30, 2013. Also after making a substantial distribution, ATOSS still holds considerable liquidity which at the current time is composed approximately half of sight deposits at banks and half in gold.
Substantial willingness to invest in workforce management
The competitive strength and the concomitant success of ATOSS Software AG in its business operations are based on the company’s strategy of offering customers the latest technologies coupled with investment security. The program of research & development in which ATOSS has been consistently investing over many years is of central importance. Ongoing expenditure in this field amounts to more than one fifth of sales, with further additional investments in the current financial year to strengthen marketing and access new markets.
In the company’s view, the buoyant demand for workforce management products and services serves as confirmation that its business strategy is correct. Customers in sectors such as retail, healthcare services, hotels and catering as well as logistics and manufacturing are particularly willing to invest. International competition continues to drive up the demand for agile work processes and flexibility in working hours. High-performance planning and control instruments are required that are able to synchronize staffing demands and deployment to optimum effect. ATOSS offers a comprehensive, holistic approach to workforce management that comprises demand and workforce forecasting, the design and organization of working time models, workforce scheduling as well as time and attendance management.
Operating outlook remains positive
Going forward, the Management Board continues to take a positive view of the ongoing development in sales and operating profits. Given the successful business recorded in the first half of 2013 and on the basis of the strong intake in orders for software licenses, growth is expected to continue with an EBIT margin securely above 20 percent for 2013.
Upcoming dates:
12.08.2013 Publication of the report for H1 2013
21.10.2013 Press release – statements for Q3 2013
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
CONSOLIDATED OVERVIEW AS PER IFRS: HALF-YEARLY COMPARISON IN TEUR
| 01.01.2013 – 30.06.2013 |
Proportion of Total sales |
01.01.2012 – 30.06.2012 |
Proportion of Total sales |
Change 2013 / 2012 |
|
| Sales | 17,531 | 100% | 16,273 | 100% | 8% |
| Software | 10,860 | 62% | 9,874 | 61% | 10% |
| Software licenses | 3,794 | 22% | 3,401 | 21% | 12% |
| hie Software maintenance | 7,066 | 40% | 6,473 | 40% | 9% |
| Consulting | 4,422 | 25% | 4,486 | 28% | -1% |
| Hardware | 1,462 | 8% | 1,212 | 7% | 21% |
| Miscellaneous | 787 | 5% | 701 | 4% | 12% |
| EBITDA | 4,540 | 26% | 4,312 | 26% | 5% |
| EBIT | 4,256 | 24% | 4,037 | 25% | 5% |
| EBT | 429 | 2% | 4,473 | 27% | -90% |
| Net income | 426 | 2% | 3,012 | 19% | -86% |
| Cash flow (4) | 2,790 | 16% | 2,157 | 13% | 29% |
| Liquid Funds L |
10,418 | 24,615 | -58% | ||
| EPS (in euro) | 0.11 | 0.76 | -86% | ||
| Employees (3) | 280 | 266 | 5% |
CONSOLIDATED OVERVIEW AS PER IFRS: QUARTERLY COMPARISON IN TEUR EUR
| Q2/13 | Q1/13 | Q4/12 | Q3/12 | Q2/12 | |
| Sales | 8,840 | 8,691 | 8,490 | 8,242 | 8,437 |
| Software | 5,585 | 5,275 | 5,292 | 4,977 | 5,017 |
| Software licenses | 2,025 | 1,769 | 1,931 | 1,655 | 1,745 |
| Software maintenance | 3,560 | 3,506 | 3,361 | 3,322 | 3,272 |
| Consulting | 2,264 | 2,158 | 2,182 | 2,048 | 2,248 |
| Hardware | 569 | 893 | 600 | 851 | 665 |
| Miscellaneous | 422 | 365 | 416 | 366 | 507 |
| EBITDA | 2,322 | 2,218 | 1,851 | 2,028 | 2,207 |
| EBIT | 2,186 | 2,070 | 1,702 | 1,881 | 2,070 |
| EBIT margin in % | 25% | 24% | 20% | 23% | 25% |
| EBT | -1,968 | 2,397 | 1,772 | 2,283 | 2,147 |
| Net earnings | -1,307 | 1,733 | 1,197 | 1,551 | 1,465 |
| Cash flow | 297 | 2,493 | -1,945 | 3,143 | -1,001 |
| Liquidity (1/2) | 10,418 | 24,370 | 25,444 | 28,657 | 24,615 |
| EPS (in euro) | -0.33 | 0.44 | 0.30 | 0.39 | 0.37 |
| Employees (3) | 280 | 279 | 276 | 270 | 266 |
(1): Cash and cash equivalents, other current and non-current financial assets (sight deposits, gold) adjusted to exclude borrowings (loans) as of the qualifying date; (2): Dividend of EUR 0.71 per share on 23.04.2012 (TEUR 2,823) and EUR 3.62 on 29.04.2013 (TEUR 14,395); (3): End of quarter / half-year
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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| 222092 22.07.2013 |