Quarterly Report • Aug 20, 2012
Quarterly Report
Open in ViewerOpens in native device viewer
Dear Stockholders,
The NEXUS team was again able to deliver a very pleasing result in the first half-year 2012: considerable sales growth, further improvement of operating results, interesting new orders and exciting product innovations. With these interim results, we are starting with an extraordinary amount of motivation into the second half-year 2012.
With increases of sales of approx. 17% and an operating result improvement of about 12%, we were again able to show in the first half-year 2012 that we can grow dynamically and improve our results further at the same time. This is important for us: We want to continue to pursue the goals of growth and improved results parallel. Our customers also consider it important that we link joy in innovation with responsible company development.
This is our challenge: We have entered new markets with new products thanks to company acquisitions over the past year. Especially our entry into the French market, but also our developments dealing with our new nursing home solution are new activities, which we only started recently. There are substantial initial investments and integration costs associated with this in the current period, which had a negative effect on results. However, we are very confident that we can speed up our overall company development even more with these investments and that these areas will also contribute positive results in the short term.
We achieved a great number of order successes in our traditional business fields nationally and internationally in the first halfyear, which strengthen our starting position even more and provide us with additional market shares. This also involves a special challenge: It is a question of handling new business successfully and at the same time pursuing the goals further of "continually improved profitability" and being a "continual innovation driver on the market". We started operative pilot operations with "NEXUS / RIS/PACS", "NEXUS / PDMS" and "NEXUS / OP" in the first half-year and consequently demonstrated our development force impressively. We worked intensively on developing all three products over the past years and checked their handling and functionality in numerous tests. We have received excellent feedback from the first customers and are looking forward excitedly to how demand develops.
We want to follow up directly from our successful products in the area of our hospital information systems (NEXUS / HIS). We again received large and numerous orders in this area in the first half-year. A total of 25 new hospitals decided in favor of our NEXUS / HIS solution within the context of calls for bids. This includes Ortenau Hospital with approx. 1,800 beds, Leverkusen Hospital with 747 beds and the Rhineland Lutheran Hospitals with a total of 617 beds. This extraordinarily high number of new orders documents the current special position of our product on the German market. We were able to acquire a total of 6 new customers in the product area NEXUS / DIS and another ? in the area of quality management. Our business area of "long-term care" also is successful with 11 new customers.
We are especially challenged in this new environment to make our project handling even more professional and to hire a considerable number of new employees. We are going to go live with a lot of other customers by the end of the year and prove that our organization delivers high quality even under project pressure. We are looking forward to this challenge and the chance to fill our customers with enthusiasm for our services and new products.
Dear Stockholders, I want to thank you again for your trust!
Sincerely,
Dr. Ingo Behrendt CEO - NEXUS AG
| Key Figures | 06/30/2012 | 06/30/2011 | |
|---|---|---|---|
| KEUR | % | KEUR | |
| Sales | 28,768 | 17.2 | 24,544 |
| Sales Healthcare Software | 26,812 | 19.7 | 22,390 |
| Sales Healthcare Service | 1,956 | -9.2 | 2,154 |
| Sales National | 15,109 | 11.3 | 13,574 |
| Sales International | 13,659 | 24.5 | 10,970 |
| Result of the period before tax | 2,978 | 12.0 | 2,659 |
| Result of the period | 2,873 | 7.4 | 2,674 |
| EBITDA | 5,774 | 6.9 | 5,407 |
| Result per Share | 0,21 | 10.5 | 0,19 |
| Investments in intangible and tangible assets | 2,379 | -55.4 | 5,334 |
| Depreciation | 3,025 | 2.1 | 2,964 |
| Net Liquidity | 23,645 | 8.4 | 21,813 |
| Cash Flow from operative activities | 5,545 | -11.0 | 6,228 |
| Employees (as of the reporting date) | 478 | 12.7 | 424 |
Sales in the segment of Healthcare Software increased by about 19.7% from KEUR 22,390 (1st half-year 2011) to KEUR 26,812 in the first half-year. On the other hand, there was again a reduction in sales in the area of Healthcare Service of 9.2%. The area recorded sales of KEUR 1,956 following KEUR 2,154 (1st half-year 2011) In a quarterly comparison to the previous year, sales of the Group increased from KEUR 12,834 (Q1 2012) to KEUR 14,913 in Q2 2012 (+16.2%). This includes the consolidated results of OPTIM S.A.S, Grenoble (F) with a total sales volume of KEUR 1,153. Without these sales, sales increased by 7.2% in the first half-year.
4
As a result, the share of sales outside of Germany increased overall from 44.7% (1st half-year 2011) to 47.5%. The increase in international business is especially concentrated in the Swiss and French markets. Business increased by approx. 11.3% in Germany and reached KEUR 15,109 following KEUR 13,574. The different growth rates in the regions are due to the invoicing cycles, but also to the consolidation of OPTIM S.A.S, Grenoble, France, which operates in the French market. Exchange rate fluctuations compared to 31 December 2011 were not significant, because the average exchange rate of the Swiss franc as of 30 June 2012 (1.21) only differs slightly from the rate at the end of 2011 (1.20).
The uninterrupted positive development of sales of the NEXUS Group of many years continued in the first half-year 2012.
The operating result after taxes improved by approx. 7.4% to KEUR 2,873. Earnings per share amounted to € 0.21.
The operating result increased by approx. 12.5% and achieved KEUR 2,749 in the first half-year compared to KEUR 2,443 in the previous year. The effective tax burdens remain slight as previously due to losses of the individual companies carried forward (KEUR 10). Write-offs increased to € 3.02 million compared to € 2.96 million in the previous year (+2.1%). Capitalized services rendered for own account decreased slightly at the same time (-7.0%). The return on sales after taxes is 10%.
One-time effects and expenses for company integration are represented in their complete amount in the operating result. These also include costs for market development in France and building up our new market segment of nursing home software in Germany.
The segment results also developed differently. While the Healthcare Software segment with a result before taxes of KEUR 2,538 following KEUR 2,488 in the previous year (1st half-year 2011) only increased slightly, the Healthcare Service segment recorded an increase in its result from approx. KEUR 171 (1st half-year 2011) to KEUR 440. The increased operations of the Healthcare Service area in software maintenance of NEXUS / HIS products are the reason for the increase.
The operative cash flow at KEUR 5,545 is at a high level, but lower than in the very strong period of the previous year (1st half-year
2011: KEUR 6,228). The difference in development of accounts receivable in the amount of KEUR 1,361 is the decisive reason for the lower cash flow compared to the previous year. The overall cash flow was affected negatively in the amount of KEUR 1,660 due to dividend payments and repurchase of own stocks. Despite this, liquid funds increased by KEUR 1,832 to KEUR 23,645 in the half-year (1st half-year 2011: KEUR 21,813).
The balance sheet total increased from KEUR 80,420 to KEUR 81,166 compared to 31 December 2011. There are no essential bank liabilities. Intangible assets, goodwill and balanced-out deferred taxes add up to a total of KEUR 37,431 following KEUR 34.934 in the 1st half-year 2011. This increase is especially due to the initial consolidation of the goodwill and technology of OPTIM S.A.S, Grenoble (F). Receivables decreased compared to 31 December 2011 from KEUR 14,168 to KEUR 12,592.
There have been no essential changes of the net worth position of the Group compared to 31 December 2011.
| Sales by divisions | ||||||
|---|---|---|---|---|---|---|
| 01/01/ - 06/30/11 |
01/01/ - 06/30/12 |
∆ IN % |
04/01/ - 06/30/11 |
04/01/ - 06/30/12 |
∆ IN % |
|
| KEUR | KEUR | KEUR | KEUR | |||
| Healthcare Software | 22,390 | 26,812 | 19.7 | 11,940 | 13,959 | 16.9 |
| Healthcare Service | 2,154 | 1,956 | -9.2 | 894 | 954 | 6.7 |
| Gesamt | 24,544 | 28,768 | 17.2 | 12,834 | 14,913 | 16.2 |
NEXUS Group employed a total of 478 people as of 30 June 2012 (1st half-year 2011: 424 employees). The great majority of the employees (393) work in the Healthcare Software segment (1st halfyear 2011: 390). The Health Care Service segment employed 85 people (1st half-year 2011: 34). The increase is due to an increase of service operations in the HIS area.
The link between social and economic activities is the challenge, which each operator of senior citizen and nursing homes has to be face today. Process optimization and improved quality thanks to the use of innovative technologies are more in demand than ever. In addition, there are new demands of residents for communication support and use of modern media.
NEXUS has combined both aspects in a new home solution and provides an innovative communication platform for residents (VITA-IT) in addition to a completely reworked overall solution (NEXUS / HOME) for home operators.
The new home solution represents a consistent step toward a complete system for home operators that can be operated intuitively (user prompting). NEXUS / HOME provides everything in one system from admittance of the residents to nursing documentation and all the way to work scheduling and financial management. The advantage: More time for residents and employees and consequently increased capacity for the corresponding company areas of operations. NEXUS / HOME provides constant support, above all in care, and ensures complete documentation for quality checks and compliance with legal regulations.
Integrated into NEXUS / HOME: the NEXUS nursing APP for work in the field. With the help of simple mobile devices, work schedules and route plans as well as nursing workflows can be planned and documented easily. We developed our app to meet the special requirements of intensive care, psychiatric treatment, daily care and assisted living.
NEXUS has enhanced its home solution decisively for the target group of "residents" with its VITA-IT solution. The focus is on integrating modern communication technologies in daily nursing home life. Clearly structured offers such as video communication with relatives, electronic party games, online memory training and current news make it a lot easier for residents to become accustomed to nursing home life. NEXUS provides mobile touchscreen devices for common as well as private rooms of residents and consequently creates a new form of independence in nursing homes.
| Sales by regions | ||||||
|---|---|---|---|---|---|---|
| 01/01/ - 06/30/11 |
01/01/ - 06/30/12 |
∆ IN % |
04/01/ - 06/30/11 |
04/01/ - 06/30/12 |
∆ IN % |
|
| KEUR | KEUR | KEUR | KEUR | |||
| Germany | 13,574 | 15,109 | 11.3 | 6,457 | 8,556 | 32.5 |
| Switzerland | 9,479 | 11,401 | 20.3 | 5,792 | 5,307 | -8.4 |
| Austria | 834 | 593 | -28.9 | 287 | 298 | 3.8 |
| Italy | 5 | 5 | 0.0 | 3 | 3 | 0.0 |
| Rest of world | 652 | 1,660 | 154.6 | 295 | 749 | 153.9 |
| Total | 24,544 | 28,768 | 17.2 | 12,834 | 14,913 | 16.2 |
Please refer to the explanations in the annual report of 31 December 2011 for information about the essential chances and risks in the development of NEXUS Group. There have been no essential changes in the meantime.
We were again able to finish the first half-year 2012 very successfully to continue our unabated positive development of the last year. Sales increases of 17.2% and an increase in the result before taxes of 12% are very pleasing results. A consideration of this trend over many years shows that this development can already been seen against the background of the outstanding increase rates of the previous years. However, it can also been seen in the first half-year that the integration of the acquired companies as well as the entry into the French market and the nursing home market are investments that affect our result negatively. The fact that NEXUS can still have such positive sales and development of results demonstrates the solidity of our business model.
We are starting the second half-year with an equal degree of confidence and caution. The long-term strategy of our business, our strong product portfolio and the high number of orders on hand will help us to master the organizational challenges of the upcoming months. We are convinced that the investments of these months will have a very positive effect on our long-term development.
The director's holders of the Supervisory Board and the Executive Board are as follows on 30 June 2012 in comparison to the previous year:
| To 06/30/2012 | Number of stock owned |
Number of options |
|---|---|---|
| Supervisory board | ||
| Dr. jur. Hans-Joachim König | 101,239 Prev. year (101,239) |
0 Prev. year (0) |
| Prof. Dr. Alexander Pocsay | 121,500 Prev. year (121,500) |
0 Prev. year (0) |
| Erwin Hauser | 15,000 Prev. year (15,000) |
0 Prev. year (0) |
| Matthias Gaebler | 0 Prev. year (0) |
0 Prev. year (0) |
| Diplom-Betriebswirt (FH) Wolfgang Dörflinger |
0 Prev. year (0) |
0 Prev. year (0) |
| Prof. Dr. Ulrich Krystek | 0 Prev. year (0) |
0 Prev. year (0) |
| Executive board | ||
| Dr. Ingo Behrendt (MBA) |
169,000 Prev. year (169,000) |
0 Prev. year (0) |
| Ralf Heilig (MBA) |
135,350 Prev. year (135,350) |
0 Prev. year (0) |
| Edgar Kuner (Dipl. Engineer) |
248,051 Prev. year (253,051) |
0 Prev. year (0) |
| Quarterly Report - third quarter | November 12 |
|---|---|
| German equity forum, Frankfurt (D) | November 12 - 14 |
| KTQ-Forum, Berlin (D) | October 19 - 20 |
| IFAS, Zürich (CH) | October 23 - 26 |
| MEDICA & BeraterDialog, Düsseldorf (D) | November 14 - 17 |
Following a stock price leap from € 6.50 to above € 7 for a time at the end of 2011, NEXUS shares started the year 2012 at an initially listed price of € 7.10. The price increased to above € 8 in February. On March, 26, which was publication date of Annual Report 2011, and on the following days, the price of NEXUS stocks went to about € 8.50 mark, which was kept between end of March and beginning of May. From May, 7, to beginning of June NEXUS chart went down, short termed even lower than € 7. About a month later performance of NEXUS shares were on the mend and price increased just under € 8. Currently the NEXUS share performance is at about € 7.50 and not changing essentially at a low volatility. In total NEXUS shares increased from the beginning of 2011 till today by about +6.3%.
| 06/30/2012 | 06/30/2011 | |
|---|---|---|
| KEUR | KEUR | |
| Group statement of income and accumulated earnings | ||
| Revenue | 28,768 | 24,544 |
| Increase/decrease in finished goods and work in progress | 4 | 0 |
| Development work capitalized | 2,056 | 2,212 |
| Other operating income | 1,293 | 904 |
| Cost of materials including purchased services | 5,369 | 3,883 |
| Personnel costs | 16,456 | 13,536 |
| Depreciation | 3,025 | 2,964 |
| Other operating expenses | 4,522 | 4,834 |
| Operating Result | 2,749 | 2,443 |
| Result from investments valuated at equity | 0 | 2 |
| Finance Income | 280 | 233 |
| Finance Expenses | 51 | 19 |
| Result before tax on profit | 2,978 | 2,659 |
| Taxes on profit | 105 | -15 |
| Consolidated result | 2,873 | 2,674 |
| Consolidated result attributable to: | ||
| - Stockholders of NEXUS AG | 2,973 | 2,727 |
| - Shares of non-controlling partners | -100 | -53 |
| Consolidated surplus per share | ||
| Weight average of issued shares in circulations (in thsd) | 14,250 | 14,171 |
| - Simple | 0.21 | 0.19 |
| - Diluted | 0.21 | 0.19 |
| until 06/30/2011 | ||
|---|---|---|
| 06/30/2012 | 06/30/2011 | |
| KEUR | KEUR | |
| Consolidated result | 2,873 | 2,674 |
| Actuarial profits and losses (after taxes on profit) | -21 | -98 |
| Differences from the conversion of foreign currency (after taxes on profit) | 483 | -483 |
| Market value changes from assets available for sale (after taxes on profit) | 1 | -1 |
| Other over result | 463 | -582 |
| Over all result of the period | 3,336 | 2,092 |
| Of the period result, attributed to: | ||
| - Stockholders of NEXUS AG | 3,436 | 2,145 |
| - Anteile nicht beherrschender Gesellschafter | -100 | -53 |
| Assets | 06/30/2012 | 12/31/2011 |
|---|---|---|
| KEUR | KEUR | |
| Long-term capital | ||
| Goodwill | 18,340 | 18,433 |
| Other intangible assets | 17,571 | 18,231 |
| Fixed Assets | 1,869 | 1,762 |
| Shares in affiliated companies | 90 | 90 |
| Credited deferred taxes | 3,010 | 3,033 |
| Other financial assets | 40 | 74 |
| Total long-term capital | 40,920 | 41,623 |
| Short-term capital | ||
| Inventories | 400 | 135 |
| Trade receivables and other receivables | 12,788 | 14,364 |
| Receivables from tax on profits | 122 | 52 |
| Other non-financial assets | 1,793 | 903 |
| Other financial assets | 1,498 | 1,254 |
| Short-term investments | 10,058 | 10,056 |
| Cash and balance in bank | 13,587 | 12,033 |
| Total Short-term capital | 40,246 | 38,797 |
| Total Assets | 81,166 | 80,420 |
| Equity and liabilities | 03/31/2012 | 12/31/2011 |
|---|---|---|
| KEUR | KEUR | |
| Capital and accruals | ||
| Subscribed capital | 14,305 | 14,305 |
| Capital reserves | 19,391 | 19,553 |
| Retained earnings | 3,900 | 0 |
| Net loss for the year | 18,622 | 19,155 |
| Consolidated net income | 2,973 | 4,770 |
| Other cumulated Group result | -377 | 134 |
| Own shares | -70 | -46 |
| Equity capital attributable to stockholders of the parent company |
58,744 | 57,871 |
| Minority interests | 184 | 284 |
| Total equity | 58,928 | 58,155 |
| Long-term debts | ||
| Pension obligations | 1,921 | 1,884 |
| Debited deferred taxes | 1,490 | 1,425 |
| Other financial assets | 1,815 | 1,707 |
| Total of long-term debts | 5,226 | 5,016 |
| Short-term debts | ||
| Accruals | 1,070 | 1,380 |
| Financial liabilities | 68 | 88 |
| Trade accounts payable | 3,135 | 3,444 |
| Liabilities from tax on profit | 948 | 172 |
| Deferred revenue liability | 4,957 | 2,188 |
| Other non-financial debts | 4,389 | 7,107 |
| Other financial debts | 2,445 | 2,870 |
| Total of short-term debts | 17,012 | 17,249 |
| Total assets | 81,166 | 80,420 |
| 2012 | 2011 | |
|---|---|---|
| KEUR | KEUR | |
| 1. Cash Flow from Current Business Transactions | ||
| Group annual result before tax on income | 2,978 | 2,659 |
| Depreciation and amortization of intangible assets and plant, equipment and other fixed assets | 3,025 | 2,964 |
| Other expenses/income with no impact on cash | -2 | -17 |
| Increase/decrease in inventories | -264 | -467 |
| Increase/decrease in trade receivables and other assets that cannot be allocated to investing or financing activities |
153 | 23 |
| Increases and decreases of accruals insofar as not entered in equity capital | -381 | 154 |
| Increase/decrease in trade receivables and other liabilities that cannot be allocated to investing or financing activities |
-172 | 548 |
| Paid interest | -38 | -7 |
| Received interest | 319 | 321 |
| Income taxes paid | -80 | -40 |
| Income taxes received | 7 | 90 |
| 5,545 | 6,228 | |
| 2. Cash Flow from Investment Activities | ||
| Cash paid for investments in property, plant and equipment / intangible assets | -2,379 | -2,438 |
| Cash received disposal of securities | 0 | -2,869 |
| -2,379 | -5,334 | |
| 3. Cash Flow from Financing Activities | ||
| Dividend payout | -1.428 | 0 |
| Purcharse of own share | -232 | 0 |
| Payments for repayments of loans | -20 | 0 |
| -1.680 | 0 | |
| 4. Amount of cash and cash equivalents at end of period | ||
| Cash relevant changes in cash and cash equivalents (sum of 1 + 2 + 3) | 1,486 | 894 |
| Change in currency conversion adjustment | 0 | 0 |
| Cash and cash equivalents at beginning of fiscal year | 12,033 | 18,575 |
| 13,519 | 19,469 | |
| 5. Composition of cash and cash equivalents | ||
| Cash on hand | 13,587 | 19,675 |
| Bank liabilities due on demand | -68 | -206 |
| 13,519 | 19,469 |
| Group Equity Change Statement |
Subscribed capital | Capital reserves | Other provisions | Equity diference from curency conversion |
BReserve for financial Instruments |
Reserve for pensions | Consolidated loss carry forward |
deficit / profit Consolidated |
Own Shares | Equity cap , attributable to stockh of parent |
Minority interest | Total equity | Authori zed capital |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| KEUR | KEUR | KEUR | KEUR | KEUR | KEUR | KEUR | KEUR | KEUR | KEUR | KEUR | KEUR | 13 KEUR |
|
| Consolidated equity as of 12/31/2010 |
14,171 | 18,778 | 0 | 916 | -10 | -630 | 15,816 | 3,447 | -26 | 52,462 | 334 | 52,796 | 6,622 |
| Transfer of 2010 consolidated loss to consolidated loss carry-forward |
3,447 | -3,447 | |||||||||||
| Total of the result entered directly into equity capital |
-483 | -1 | -98 | -1 | -582 | -582 | |||||||
| Consolidated net income 06/30/2011 |
2,727 | 2,727 | -53 | 2,674 | |||||||||
| Overall Result of period 2011 |
0 | 0 | 0 | -483 | -1 | -98 | 0 | 2,727 | -1 | 2,145 | -53 | 2,092 | |
| Increase in minority interests through business acquisition |
15 | 15 | |||||||||||
| Consolidated equity as of 03/31/2011 |
14,171 | 18,778 | 0 | 433 | -11 | -728 | 19,263 | 2,727 | -27 | 54,607 | 296 | 54,903 | 6,622 |
| Consolidated equity as of 12/31/2011 |
14,305 | 19,553 | 0 | 1,192 | 0 | -1,058 | 19,155 | 4,770 | -46 | 57,871 | 284 | 58,155 | 6,488 |
| Profit before tax 2011 entered directly in accumulated deficit |
4,770 | -4,770 | |||||||||||
| Total of the result entered directly into equity capital |
-483 | -28 | -511 | -511 | |||||||||
| Purchase of treasury shares | 2,973 | 2,973 | -100 | 2,873 | |||||||||
| Overall Result of the Period |
0 | 0 | 0 | -483 | 0 | -28 | 0 | 2,973 | 0 | 2,462 | -100 | 2,362 | |
| Increase in authorized capital (AGM-2011) |
665 | ||||||||||||
| Transfer to retained earnings as per AGM resolution 2011 |
3,900 | -3,900 | |||||||||||
| Dividend payment | -1,428 | -1,428 | -1,428 | ||||||||||
| Purchase of own share | -162 | 25 | -24 | -161 | -161 | ||||||||
| Consolidated equity as of 06/30/2012 |
14,305 | 19,391 | 3,900 | 709 | 0 | -1,086 | 18,622 | 2,973 | -70 | 58,744 | 184 | 58,928 | 7,153 |
This interim report from the NEXUS Group of 30 June 2012 has been prepared in keeping with the International Financial Reporting Standards (IFRS) as they are applied in the EU. The interpretation of the International Financial Reporting Interpretation Committee (IFRIC) has been taken into account.
The regulations of IAS 34 have been observed in the interim report of 30 June 2012. This refers to a summarized report, which does not contain all information of an IFRS Group Financial Statement, and consequently this report should be read in connection with the Appendix of the Group Financial Statement 2011. The same accounting and valuation methods were used in the Group Financial Statement for the business year 2011.
The Group Financial Statement 2011 and the interim report of 30 June 2011 can be seen on the homepage in the Internet at: http://www.nexus-ag.de .
In addition to the NEXUS AG as parent company, all operatively active domestic and foreign subsidiaries are included in the Group Financial Statement, for which NEXUS AG has the majority of voting rights directly or indirectly.
Four affiliated companies were included in the balance sheets according to the equity method.
The report has not been audited.
| List of Subsidiaries Consolidated | 06/30/2012 | 06/30/2011 | |
|---|---|---|---|
| Country | Shares of Capital in % | ||
| Full Consolidated | |||
| NEXUS Digitale Dokumentationssysteme Projektentwicklungsges.m.b.H., Wien | Austria | 100,00 | 100.00 |
| nexus/ccc GmbH, Villingen-Schwenningen | Germany | 100.00 | 100.00 |
| NEXUS . IT GmbH SÜDOST, Singen Hohentwiel | Germany | 50.20 | 50.20 |
| NEXUS . IT GmbH NORD, Villingen-Schwenningen | Germany | 100.00 | 100.00 |
| NEXUS Medizinsoftware und Systeme AG, Altishofen | Switzerland | 99.98 | 99.98 |
| NEXUS Italia S.r.l., Bologna | Italy | 100.00 | 80.00 |
| nexus/inovit GmbH, Ismaning | Germany | 100.00 | 91.49 |
| nexus/cis GmbH, Singen Hohentwiel | Germany | 100.00 | 100.00 |
| nexus/dis GmbH, Frankfurt am Main | Germany | 100.00 | 100.00 |
| NEXUS Schweiz GmbH, Schwerzenbach | Switzerland | 100.00 | 10.00 |
| nexus/qm GmbH, Ismaning | Germany | 100.00 | 100.00 |
| Flexreport AG, Baar | Switzerland | 100.00 | 100.00 |
| nexus/cso GmbH, Villingen-Schwenningen | Germany | 100.00 | 100.00 |
| VEGA Software GmbH, Aachen | Germany | 60.00 | 30.00 |
| Domis Consulting AG, Altishofen | Switzerland | 100.00 | 0.00 |
| Synergetics AG, Altishofen | Switzerland | 60.00 | 0.00 |
| NEXUS / OPTIM S.A.S, Grenoble | France | 100.00 | 0.00 |
| Equity-Konsolidierung | |||
| G.I.T.S. Gesundheitswesen IT-Service GmbH Fürstenfeldbruck, Fürstenfeldbruck | Germany | 49.00 | 49.00 |
| Medidata GmbH, Berlin | Germany | 25.00 | 25.00 |
| Palladium-med GmbH, Berlin | Germany | 20.00 | 20.00 |
| In KEUR | 06/30/2011 | 12/31/2011 | 06/30/2012 | ||||
|---|---|---|---|---|---|---|---|
| short termed (< 1 year) |
long termed (> 1 year) |
short termed (< 1 year) |
long termed (> 1 year) |
short termed (< 1 year) |
long termed (> 1 year) |
||
| Trade accounts receivable | 11,928 | - | 14,168 | - | 12,592 | - | |
| Receivables from affiliated companies |
2 | - | 11 | - | 19 | - | |
| Gross amount due to customers for projects as an asset |
150 | - | 185 | - | 177 | - | |
| Other Assets | 2,674 | 51 | 2,157 | 74 | 3,291 | 40 | |
| from interests of not payable stocks | 68 | - | 31 | - | 7 | - | |
| from accounts receivable in the range of value added tax |
385 | - | 111 | - | 190 | - | |
| from loans to employee and third | 903 | 0 | 839 | 34 | 697 | 40 | |
| from loans to parent company | 50 | 51 | 50 | 0 | 0 | 0 | |
| from other | 1,268 | - | 1,126 | 40 | 2,397 | - | |
| Tags refund claims | 79 | - | 52 | - | 124 | - |
The other assets are not interest-bearing and normally are due between 30 and 360 days. Loans to third parties have interest rates of 3.5% and 5% and are normally safeguarded. Receivables from deliveries and services are not interestbearing and normally are due between 30 and 90 days.
There were receivables from deliveries and services in the amount of KEUR 1,485 June 30, 2012 (June 30, 2011: KEUR 1,806) impaired in value. The development of the value adjustment account is as follows:
| Adjustment Account | 06/30/11 | 12/31/11 | 06/30/12 |
|---|---|---|---|
| KEUR | KEUR | KEUR | |
| Status January, 1st | 1,931 | 1,931 | 1,398 |
| Allowed expenses allocation | 113 | 1.060 | 169 |
| Consumption | -105 | -1.299 | -45 |
| Dissolution | -133 | -294 | -37 |
| Status - end of period | 1,806 | 1,398 | 1,485 |
| Securities in KEUR | 06/30/2011 | 12/31/2011 | 06/30/2012 | ||||
|---|---|---|---|---|---|---|---|
| purchase costs |
markes value |
purchase costs |
market value |
purchase costs |
market value |
||
| Money market bond | 2,014 | 1,775 | 2,014 | 1,699 | 2,014 | 1,686 | |
| Shares in funds | 719 | 364 | 719 | 357 | 719 | 372 | |
| Total | 2,733 | 2,139 | 2,733 | 2,056 | 2,733 | 2,058 |
In 2010 and 2011 adjustments were on above securities amounting to KEUR 558 formed in the income statement.
| In KEUR | 06/30/2011 | 12/31/2011 | 06/30/2012 | |||
|---|---|---|---|---|---|---|
| short termed (< 1 year) |
long termed (> 1 year) |
short termed (< 1 year) |
long termed (> 1 year) |
short termed (< 1 year) |
long termed (> 1 year) |
|
| Bank loans | 206 | - | 88 | - | 68 | - |
| Received order deposits | 5,132 | - | 5,627 | - | 4,302 | - |
| Liabilities from deliveries and services | 2,573 | - | 3,444 | - | 3,135 | - |
| Liabilities with associated companies | - | - | - | - | - | - |
| Tax liabilities | 1,099 | - | 172 | - | 948 | - |
| Other liabilities | 2,295 | - | 4,350 | 1,707 | 2,532 | 1,815 |
| for obligations for salary payments | 1,188 | - | 2,579 | - | 1,889 | - |
| afor liabilities of social securities | 202 | - | 1,480 | - | 130 | - |
| Others | 905 | - | 291 | 1,707 | 513 | 1,815 |
Conditions of the financial liabilities listed above:
| Business Segments Reporting as of JUNE 30 |
Healthcare Software |
Healthcare Service |
Consolidation | Group | ||||
|---|---|---|---|---|---|---|---|---|
| 2012 KEUR |
2011 KEUR |
2012 KEUR |
2011 KEUR |
2012 KEUR |
2011 KEUR |
2012 KEUR |
2011 KEUR |
|
| Sales with third parties | 26.812 | 22.390 | 1.956 | 2.154 | 28.768 | 24.544 | ||
| -Deliveries | 1.638 | 802 | 751 | 598 | 2.389 | 1.400 | ||
| -Services | 9.098 | 6.442 | 892 | 1.265 | 9.990 | 7.707 | ||
| -Software updating and hardware maintenance |
11.412 | 10.086 | 155 | 75 | 11.567 | 10.161 | ||
| -Licenses | 4.664 | 5.060 | 158 | 216 | 4.822 | 5.276 | ||
| Sales between segments | 4.044 | 4.318 | 2.314 | 1.898 | -6.358 | -6.216 | ||
| Segment sales | 30.856 | 26.708 | 4.270 | 4.052 | -6.358 | -6.216 | 28.768 | 24.544 |
| Operating segment result | 2.538 | 2.488 | 440 | 171 | 2.978 | 2.659 | ||
| Segment assets | 62.018 | 52.273 | 1.178 | 802 | 63.196 | 53.075 |
The Group is split into business units according to products and services for the purpose of company management and has the following business segments required to file reports:
In the areas NEXUS / CIS, NEXUS / CSO, NEXUS / DIS as well as NEXUS / HOSPIS and Domis (both Switzerland) as well as NEXUS / OPTIM (France), software solutions for the healthcare system are developed and marketed in administrative and medical areas. NEXUS provides a hospital information system (HIS) with its core product NEXUS / HIS for the medical sector. The counterpart product NEXUS / PSYCHIATRY is offered for psychosomatic institutions. We provide all administration applications for the Swiss market with the product line NEXUS / HOSPIS.
Highly specialized solutions are available for sterilisation, radiology, gynecology including obstetrics, pathology and cytology. The leading system for QM assessment of all customary processes (NEXUS / HOLL) has also been assigned to this area. NEXUS also expanded its portfolio for quality management software with the product NEXUS / CURATOR.
The Healthcare Service Division covers the services, which are provided by NEXUS / IT companies. These including consulting for hospital IT departments, configuration of network, Intranet and Internet solutions, security concepts and the management of IT services with the context of the service company G.I.T.S. Gesundheitswesen IT-Service GmbH, Fürstenfeldbruck.
The Group is mainly controlled according to business divisions due to the chance and risk structure. Consequently, the division according to business divisions is the primary segmentation level.
Transactions between the segments are mainly debited as procurement or manufacturing costs.
Seasonal effects resulted in the NEXUS Group operations with regards to the receipt of maintenance revenues in the first quarter of the financial year (deferment of the influences on the result of corresponding incoming payments throughout the year) and significantly greater demand and project accounting in the fourth quarter of the financial year.
To the best of our knowledge, and in accordance with the applicable reporting principles for interim financial reporting, the interim consolidated financial statements give a true and fair view ot the assets, liabilities, financial position and profit or loss of the group, and the interim management report of the group includes a fair review of the development and performance of the business and the position of the group, together with a description ot the principal opportunities and risks associated with the expected development of the group for the remaining months of the financial year.
Villingen-Schwenningen, August 20, 2012
NEXUS AG Executive Board
NEXUS AG, Auf der Steig 6, D-78052 Villingen-Schwenningen Telefon +49 (0)7721 8482 -0, Fax +49 (0)7721 8482-888 www.nexus-ag.de, [email protected]
Building tools?
Free accounts include 100 API calls/year for testing.
Have a question? We'll get back to you promptly.