Nexus AG

Quarterly Report • Aug 18, 2014

letter to our stoCKholders

Dear Stockholders:

Following the strong year 2013, we are very pleased to be able to report about a very positive development for the fi rst half year 2014 too! Despite substantial challenges in new projects and product developments, we recorded pleasing sales growth and continued good development of our results.

With increased sales of approx. 10.0% and a higher result before taxes and interest of about 10.2%, the NEXUS team has again been able to continue our growth course connected with continual improvement of our results in the fi rst half year 2014.

We can be very satisfi ed that our wide-ranging and updated product portfolio has been well received on the market. Thanks to the substantial investments of the past months, we have a number of market-leading diagnostic modules in addition to our core product "NEXUS / HIS", which can be marketed within NEXUS / HIS or independent of it. We provide very competitive complete solutions for senior citizen homes and rehabilitation institutions at the same time. The comprehensive portfolio of the NEXUS Group is a great advantage for our customers. With it, we supply healthcare institutions with solutions

Highlights 1st half-year 2014 Company's performance

• • Good result /sales increases in the 1st half-year
• • Successful new product launches in NEXUS / RIS, NEXUS / INTENSIV CARE and NEXUS / PATIENT MANAGEMENT
• • Market launch of the NEXUS / APP product line
• • Substantial preliminary investments in full-outsourcing and a collaboration project

from one source and consequently a high degree of technological and commercial security. This is an advantage, which customers appreciate a lot due to the continually increasing complexity of informatics in the healthcare system.

New product and project introductions were the priority for NEXUS in the fi rst half year 2014. These include our very successfully launched NEXUS / RIS / PACS system for radiologists as well as our module for intensive care medicine, NEXUS / INTENSIV CARE. We have also introduced the new NEXUS / PATIENT MANAGEMENT system in a hospital. We have concentrated intensively on the NEXUS / APPS product line: mobile applications, which are integrated seamlessly into NEXUS software applications and create effi ciency potential in healthcare institutions. The launch of a full-outsourcing project was especially signifi cant in the fi rst half year. We have implemented the complete replacement of an HIS system and numerous submodules within only a few months here and have taken charge of IT-support of a hospital. This is a project, which required considerable preliminary investments, which will pay off in the future.

The same applies to collaboration with a manufacturer of medical equipment. In this collaboration, NEXUS products will be an integral component of the product portfolio of the future partner. Although product coordination and specifi c developments currently cause substantial expenditures, we consider the collaboration to be an outstanding opportunity to improve our market position in the long term.

We are working on these innovation projects resolute and single-minded. The NEXUS team is focusing strongly on potential developments in its current phase. We are strongly convinced that our market demands more and improved solutions from us and that we have the chance to lay the foundation for growth in the coming years.

To improve internal workfl ows, we also used the fi rst half year to rework our service processes fundamentally. We are working to make our service processes leaner and address customers more directly. Together with customers, we have the goal of achieving measurable results already in the third quarter.

In spite of our very varied innovation and optimization projects, we have been able to score additional points in sales in the fi rst half year. We had orders from 182 hospitals, rehabilitation institutions and senior citizen homes. This included 3 orders for complete hospitals, where we will install NEXUS / HIS.

Dear Stockholders, NEXUS is on a very promising path, and we are proud that our products and services are being received positively on the market. Our organization is very stable today, and we can continually work on improving our processes. Our service and sales processes are currently the focus of such optimizations.

We are actively facing challenges and risks, which we are encountering with our more wide-ranged portfolio and increa-sing size. We are aware that we have to work intensively to ensure the long-term development of the NEXUS Group.

We are looking forward to these challenges and would like to thank you, dear stockholders, for your trust.

Warm regards,

DR. INGO BEHRENDT CEO - NEXUS AG

Key figures 1st half-year 2014

Key figures	06/30/2014		06/30/2013
	KEUR	%	KEUR
Sales	37,823	10.0	34,372
Sales Healthcare Software	33,602	10.8	30,340
Sales Healthcare Service	4,221	4.7	4,032
Sales National	22,376	8.5	20,615
Sales International	15,447	12.3	13,757
Result before tax and interest (EBIT)	3,581	10.2	3,250
Result before tax	3,662	11.0	3,298
Result of the period before tax	3,622	9.1	3,321
EBITDA	6,898	9.0	6,330
Result per Share	0,25	8.7	0,23
Investments in intangible and tangible assets	3,199	55.3	2,060
Depreciation	3,317	2.7	3,230
Net Liquidity	24,911	9.9	22,656
Cash Flow from operative activities	5,064	41.3	3,583
Employees (as of the reporting date)	650	10.0	591

Interim Annual Report

NEXUS Group sales increased in the first six months of the year 2014 from KEUR 34,372 to KEUR 37,823 (+10.0 %).

As a result, the uninterrupted positive development of sales of the NEXUS Group of many years could be continued in the first half-year 2014. In a quarterly comparison to the previous year, sales of the Group increased from KEUR 18,596 (Q1 2014) to KEUR 19,228 in Q2 2014 (+3.4%). The decreasing growth dynamics in the second quarter are due to preliminary investments, which we made in large projects. Only slight sales have resulted in these projects until now. The international share of total business volume was 40.8% following 40.0% (1st HY 2013). Sales effects from exchange rate fluctuations were not significant compared to 31 December 2013.

Growth in the first half year was generated equally in both business segments of NEXUS AG. Sales in the area of Healthcare Service increased by approx. 10.8% from KEUR 30,340 (1st HY 2013) to KEUR 33.602. KEUR 4,221 were recorded in the Healthcare Service segment in the first half-year 2014 following KEUR 4,032 in the previous year (+4.7%).

The positive development of sales was also reflected in the result. The result before taxes and interest (EBIT) amounted to KEUR 3,662 following KEUR 3,298 in the first half year 2013 (+11.0%).

Highlights 1st half-year 2014 Sales Result

• • 10.0% increase in sales in the first half year 2014 from € 34.4 million (1st HY 2013) to € 37.8 million
• • 11.0% increase in EBT from € 3.3 million to € 3.7 million
• • Liquid funds as of 30 June 2014 amount to € 24.9 million

+10.0% as of previous year

Group Sales in KEUR (1st half-year)

Result before tax (1st half-year) in KEUR +11.0% as of previous year

Staff

NEXUS Group employed a total of 650 people as of 30 June 2014 (1st HY 2013: 591 employees). The great majority of the employees (583) work in the Healthcare Software segment (1st HY 2013: 526). The Health Care Service segment employed 67 people (1st HY 2013: 65). The increase resulted from company acquisitions and staff hiring in existing business areas.

The EBITDA increased to KEUR 6,898 (+9.0%) following KEUR 6,330 (1st HY 2013).

The operating result after taxes improved by approx. 9.1% to from KEUR 3,321 to KEUR 3,622. The effective tax burdens remain slight as previously due to losses of the individual companies carried forward. Write-offs increased slightly compared to the previous year at € 3.32 million (1st HY 2013: € 3.23 million). The capitalized goods/services on own account amounted to € 2.1 million and consequently 14.1% higher than the previous year (1st HY 2013: € 1.8 million). The return on sales after taxes is 9.6%. Earnings per share amounted to € 0.25. (1st HY 2013: € 0.23).

One-time effects and expenses for setting up new business areas and the integration of acquired companies are shown in their full amount in the operating result.

Segment results developed differently: While the Healthcare Service segment increased by 11.4% with a result before taxes of KEUR 3,129 compared to KEUR 2,808 in the previous year (1st HY 2013), the result of the Healthcare Service segment at KEUR 452 was slightly higher than the previous year (1st HY 2013: KEUR 442). The segment was burdened by the costs for setting up the product area of process consulting.

The operative cash flow at KEUR 5,064 increased by 41.3% considerably compared to the previous year's level (1st HY 2013: KEUR 3,583). In addition to the improved result, the reduction of trade receivables resulted in a positive cash flow. Dividend payments amounting to KEUR 1,808 were due in the first half-year. Liquid assets amount to KEUR 24,912 and consequently remain at a high level.

The equity ratio of NEXUS AG is 74%.

The balance sheet total decreased from KEUR 101,966 to KEUR 100,820 compared to 31 December 2013. There are no essential bank liabilities. Intangible assets, goodwill and balanced-out deferred taxes add up to a total of approx. € 50.3 million following approx. € 48.8 million in the 1st half-year 2013.

There have been no essential changes of the net worth position of the Group compared to 31 December 2013.

Sales by divisions

	01/01/ - 06/30/14	01/01/ - 06/30/13	∆ IN %	04/01/ - 06/30/14	04/01/ - 06/30/13	∆ IN %
	KEUR	KEUR		KEUR	KEUR
Healthcare Software	33,602	30,340	10.8	16,950	15,831	7.1
Healthcare Service	4,221	4,032	4.7	2,277	1,937	17.6
Total	37,823	34,372	10.0	19,227	17,768	8.2

Sales by regions

	01/01/ - 06/30/14	01/01/ - 06/30/13	∆ IN %	04/01/ - 06/30/14	04/01/ - 06/30/13	∆ IN %
	KEUR	KEUR		KEUR	KEUR
Germany	22,376	20,615	8.5	12,322	11,136	10.7
Switzerland	12,490	11,204	11.5	5,748	5,494	4.6
Austria	877	619	41.7	366	236	55.1
Rest of world	2,080	1,934	7.5	791	902	-12.3
Total	37,823	34,372	10.0	19,227	17,768	8.2

NEXUS-Software Helps Cure!

Monitored Hygiene

NEXUS / SPM supports sterile goods supply, where hygiene is critical, via touch control and records all process steps fro operation to cleaning and disinfection and all the way to transport sieves back to OP. As a result, the software ensures transparency and efficiency in the central sterile services supply department (CSSD).

Well Thought-Out Operations

NEXUS has enhanced the OP system in NEXUS / HIS decisively and implemented very essential new developments, especially in OP planning and legal documentation – for quality-assured operations for the benefit of patients.

Safe Medication

NEXUS / MEDICATION controls provisions of drugs prescribed for patients and consequently ensures one of the most responsible processes in a hospital. The semi-automatic support of the complete dispensing process from preparation until bar-coded administration and integration of blister and unit doses becomes clearly comprehensible for all involved.

Focused Examinations

The well thought-out documentation of all treatment steps in the electronic patient records of NEXUS / HIS as well as the link to the documentation of the ward solutions guarantee the required overview and prevent expensive double examinations.

NEXUS Company information and outlook

Chances and Risks

Please refer to the explanations in the annual report of 31 December 2013 for information about the essential chances and risks in the development of NEXUS Group. There have been no essential changes in the meantime.

Outlook: Optimism in a Changing Environment

We can once again be very satisfied with the result of the first half-year 2014 and consequently continue our unabated positive development of the last years. Sales increases of 10.0% and an increase in EBT of 11.0% are very pleasing results. In spite of the outstanding rates of increase of the previous years, we are succeeding in improving our figures even more with good products and strongly motivated employees.

We are determined to continue this development of many years. This is a task, which is increasingly difficult to forecast in the current competitive environment. We see considerable changes due to take-overs and spin-offs over in our industry the past weeks and days and will certainly hear more news about M&A-activities in our industry over the coming months. This concentration process provides us both with chances and risks. While NEXUS is becoming increasingly attractive for customers as a Group-independent company, many customers are reacting in this phase with reluctance to invest and are postpone new projects or calls for bids. We will see which trend is stronger in the short term. However, we are certain that we will profit strongly in the long term from the considerable reorganization of our industry.

Our short-term goals remain intact. We want to expand our innovation projects and customer orientation consistently to generate new growth and earning potential on the strength of our own resources. In addition, we are checking possible acquisitions within the context of this concentration process.

As a result, 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 challenges of the upcoming months.

Directors Holdings		Numbers of stock owned	Numbers of options
	Superviory Board
The director's holders of the Supervisory Board and the Executive Board are as follows on 30 June 2014	Dr. jur. Hans-Joachim König	101.239 prev. (101.239)	0 prev. (0)
	Prof. Dr. Alexander Pocsay	121.500 prev. (121.500)	0 prev. (0)
in comparison to the previous year: cf. Table. Erwin Hauser Wolfgang Dörflinger Executive Board Dr. Ingo Behrendt, Dipl. Inf. Wiss. (MBA)		15.000 prev. (15.000)	0 prev. (0)
	Diplom-oec. Matthias Gaebler	0 prev. (0)	0 prev. (0)
	Diplom-Betriebswirt (FH)	0 prev. (0)	0 prev. (0)
	Prof. Dr. Ulrich Krystek	0 prev. (0)	0 prev. (0)
		112.000 prev. (169.000)	0 prev. (0)
	Ralf Heilig Dipl. Betriebswirt (FH), (MBA)	135.350 prev. (135.350)	0 prev. (0)
	Edgar Kuner	248.051	0

Dipl.-Ingenieur

prev. (248.051)

prev. (0)

neXus in the enViroment of the finanCial and health marKets

18/08/14 Semi-Annual Report 2014

10/11/14

Quarterly Report Q3 / 2014

Investor Relations

Following a stock price of € 10.95 at the end of 2013, NEXUS shares started the year 2014 at an initially listed price of € 10.93. The stocks reached a year-low at € 10.38 in April. The highest price of this yearwas reached with a closing price in XETRA of € 14.45 on 17 February 2014. The price is currently hovering somewhat weaker between € 11.60 - € 12.10.

24/11 – 26/11/14 German Equity Capital Forum, Frankfurt

Stock Market Prices (closing prices in Frankfurt)

group Profit+Loss statement from 06/30/2014 and 06/30/2013 (IFRS)

	04/01/ - 06/30/14	04/01/ - 06/30/13	01/01/ - 06/30/14	01/01/ - 06/30/13
	KEUR	KEUR	KEUR	KEUR
Revenue	19,228	17,768	37,823	34,372
Changes in inventories of finished goods and work in progress	-	107	-	113
Development work capitalized	861	574	2,099	1,839
Other operating income	414	118	554	556
Cost of materials including purchased services	3,440	3,011	6,958	6,600
Personnel costs	10,706	9,803	21,293	19,228
Depreciation	1,669	1,618	3,317	3,230
Other operating expenses	2,919	2,512	5,327	4,572
Operating profit	1,769	1,623	3,581	3,250
Results from investments valuated at eqity	0	0	0	1
Finance carried forward	36	43	104	119
Finance Expenses	20	29	23	72
Profit before tax	1,785	1,637	3,662	3,298
Income tax	-32	18	40	-23
Consolidated surplus	1,817	1,619	3,622	3,321
of the consolidated surface, accounted to:
- Stockholders of NEXUS AG	2,011	1,672	3,796	3,515
- Minority interests	-194	-53	-174	-194
Consolidated surplus per share
Weighted average of issued shares in circulation (in thousands)	15,069	15,064	15,069	15,064
- simple	0,13	0,11	0,25	0,23
- diluted	0,13	0,11	0,25	0,23

group statement of income and accumulated earnings from 06/30/2014 and 06/30/2013

	04/01/ - 06/30/14	04/01/ - 06/30/13	01/01/ - 06/30/14	01/01/ - 06/30/13
	KEUR	KEUR	KEUR	KEUR
Consolidated result	1,817	1,619	3,622	3,321
Actuarial profits and losses (after taxes on profit)	-5	10	0	-24
Currency conversion differences	-39	28	140	-384
Market value changes from assets available for sale (after taxes on profit)	0	0	0	1
Other comprehensive income after taxes	-44	38	140	-407
Overall Result of the Period	1,773	1,657	3,762	2,914
Of the overall result of period, accounted to:
- Stockholders of NEXUS AG	1,772	1,710	3,936	3,108
- Minority interests	1	-53	-174	-194

consolidated balance sheet from 06/30/2014 AND 12/31/2013 (IFRS)

Assets	06/30/2014	12/31/2013
	KEUR	KEUR
Long-Term Assets
Goodwill	25,810	25,721
Other intangible assets	23,188	23,813
Fixed assets	2,281	1,864
Shares in companies valuated at equity	43	43
Credited deferred taxes	3,673	3,697
Other financial assets	303	84
Total of long-term assets	55,298	55,222
Short-term assets
Inventories	444	283
Trade receivables and other receivables	16,272	19,320
Receivables from tax on profits	764	404
Other non-financial assets	2,259	1,436
Other financial assets	872	1,497
Short-term financial assets	9,142	8,142
Cash and balance in bank	15,769	15,662
Total of Short-Term Assets	45,522	46,744
Total Assets	100,820	101,966

12

faCts and figures balance sheet as of 06/30/2014 and 12/31/2013 (ifrs)

Liabilities	06/30/2014	12/31/2013
	KEUR	KEUR
Capital and accruals
Authorized capital	15,105	15,105
Capital reserves	25,785	25,780
Profit carried forward	31,579	25,787
Consolidated annual surplus	3,796	7,601
Other cumulated Group result	-949	-1,088
Own shares	-289	-290
Equity capital attributable to stockholders of the parent company	75,027	72,895
Minority interessts	-698	-526
Total equity	74,329	72,369
Long-term debts
Pension obligations	3,380	3,371
Debited deferred taxes	2,355	2,564
Financial liabilities	24	43
Other fi nancial assets	2,538	2,754
Total of long-term debts	8,297	8,732
Short-term debts
Deferments	892	916
Financial liabilities	239	152
Trade accounts payable	3,302	4,011
Profi t tax liabilities	454	754
Revenue adjustment	6,127	4,344
Other non-fi nancial debts	4,096	6,462
Other fi nancial debts	3,084	4,226
Total of short-term debts	18,194	20,865
Total assets	100,820	101,966

consolidated cash flow statement from 06/30/2014 AND 06/30/2013 (IFRS)

	2014	2013
	KEUR	KEUR
1. Cash flow from current business transactions
Group annual result before tax on income	3,662	3,298
Depreciation and amortization of intangible assets and plant, equipment and other fixed assets	3,317	3,230
Other expenses/income with impact on expenses/revenue	139	51
Increase / decrease in inventories	-160	39
Increase / decrease in trade receivables and other assets that cannot be allocated to investing or financing activities	1,197	-423
Increase / decrease in provisions	-261	-707
Increase / decrease in trade payables and other liabilities that cannot be allocated to investing or financing activities	-2,740	-2,002
Paid interest	-23	-18
Received interest	119	133
Payments made for taxes on profit	-217	-32
Income taxes received	31	14
	5,064	3,583
2. Cash Flow from Investment Activities
Payments for investments in intangible and fixed assets	-3,199	-2,060
	-3,199	-2,060
3. Cash Flow from Financing Activities
Dividend payment	-1,808	-1,657
Amount paid out for redeeming loans	0	-384
Sale of own shares	6	0
	-1,802	-2,041
4. Amount of cash and cash equivalents at end of period
Cash relevant changes in cash and cash equivalents (sum of 1 + 2 + 3)	63	-518
Change in currency conversion adjustment	15,467	12,905
	15,530	12,387
5. Composition of cash and cash equivalents
Liquid Funds	15,769	12,562
Bank liabilities due on demand	-239	-175
	15,530	12,387

group statement of changes in equity FROM 06/30/2014 AND 06/30/2013 (IFRS)

Group Equity Change Statement	Authorized capital KEUR	Capital reserves KEUR	Equity capital diference from currency conversion KEUR	Reserve for financial Instruments KEUR	Pensions provision KEUR	Profit carried forward KEUR	deficit / profit Consolidated KEUR	Own Shares KEUR	Equity cap , attributable to stock of parent KEUR	Minority interest KEUR	Equity Total equity KEUR	Authorized capital KEUR
Consolidated equity as of 01/01/2013	15,105	25,757	1,076	-310	-1,593	22,398	6,094	-296	68,231	-118	68,113	6,353
Transfer of 2012 consolida ted profit to consolidated loss carry-forward						6,094	-6,094		0		0
Total of the result entered directly into equity capital			-634		-24				-658		-658
Overall Result 2013	0	0	-634	0	-24	6,094	-6,094	0	-658	0	-658
Consolidated net income 2013							3,515		3,515	-194	3,321
Overall Result of Period	0	0	-634	0	-24	6,094	-2,579	0	2,857	-194	2,663
Dividend payment						-1,657			-1,657		-1,657
Consolidated equity as of 06/30/2013	15,105	25,757	442	-310	-1,617	26,835	-2,579	-297	69,431	-312	69,119	6,353
Consolidated equity as of 01/01/2014	15,105	25,780	504	0	-1,592	25,787	7,601	-290	72,895	-526	72,369	6,353
Profit before tax 2013 entered directly in accumulated deficit						7,601	-7,601		0		0
Total of the result entered directly into equity capital					2				2	0	2
Deffered taxes entered in other comprehensive income					-2				-2		-2
Currency differences			140						140		140
Overall Result of the Period	0	0	140	0	0	7,601	-7,601	0	140	0	140
Consolidated net income 2014							3,796		3,796	-174	3,622
Total income for the Period	0	0	140	0	0	7,601	3,796	0	3,937	-174	3,763
Dividend payments						-1,808			-1,808		-1,808
Purchase / sale of own shares		5						1	6		6
Consolidated equity as of 06/30/2014	15,105	25,785	644	0	-1,593	31,579	3,797	-289	75,027	-698	74,329	6,353

Notes to the consolidated interim financial statements

1. Accounting and Valuation Method

This interim report from the NEXUS Group of 30 June 2014 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 2014. 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 2013. The same accounting and valuation methods were used in the Group Financial Statement for the business year 2013.

The report has not been audited.

The Group Financial Statement 2013 and the interim report of 30 June 2014 can be seen on the homepage in the Internet at: http://www.nexus-ag.de

2. Consolidated Group

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.

List of Subsidiaries Consolidated		06/30/2014	06/30/2013
	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
syseca informatik ag, Luzern	Switzerland	100,00	0,00
nexus/inovit GmbH, Ismaning	Germany	100,00	100,00
nexus/cis GmbH, Singen Hohentwiel	Germany	100,00	100,00
nexus/dis GmbH, Frankfurt am Main	Germany	100,00	100,00
NEXUS Switzerland GmbH, Wallisellen	Switzerland	100,00	10,00
nexus/qm GmbH, Ismaning	Germany	100,00	100,00
nexus/reha GmbH, Villingen-Schwenningen	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	60,00
Domis Consulting AG, Altishofen	Switzerland	100,00	100,00
Synergetics AG, Altishofen	Switzerland	60,00	60,00
NEXUS / OPTIM S.A.S, Grenoble	France	100,00	0,00
E&L medical systems GmbH, Erlangen	Germany	100,00	0,00
ASS.TEC Beratungsgesellschaft für Anwendungen, Systeme, Strategien und Technologien mbH, Villingen-Schwenningen	Germany	100,00	100,00
Equity-Consolidated
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

3. Trade accounts receivable and other Assets

In KEUR	06/30/2013		12/31/2013		06/30/2014
	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	18,200	-	19.133	-	16.133	-
Receivables from affiliated companies	14	-	30	-	12	-
Gross amount due to customers for projects as an asset	767	-	147	-	147	-
Other Assets	2,370	91	1,497	84	2,616	88
from interests of not payable stocks	13	-	4	-	7	-
from accounts receivable in the range of value added tax	140	-	-	-	-	-
from loans to employee and third	638	28	585	23	82	23
from other	1,579	63	908	61	2,527	65
Tags refund claims	896	-	404	-	764	-

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 1,287 30 June 2014 (30 June 2013: KEUR 1,462) impaired in value. The development of the value adjustment account is as follows:

Adjustment Account	06/30/13	12/31/13	06/30/14
	KEUR	KEUR	KEUR
Status January, 1st	1,581	1,581	1,559
Allowed expenses allocation	37	408	134
Consumption	-95	-325	-278
Dissolution	-61	-105	-128
Status - end of period	1,462	1,559	1,287

4. Securities

In KEUR

	06/30/2013		12/31/2013		06/30/2014
	purchase costs	markes value	purchase costs	market value	purchase costs	market value
Money market bond	2,014	1,707	2,014	1,750	2,014	1,750
Shares in funds	719	387	719	392	719	392
Total	2,733	2,094	2,733	2,142	2,733	2,142

5. Current Liabilities

In KEUR		06/30/2013		12/31/2013	06/30/2014
	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	175	-	152	43	201	38
Received order deposits	5,725	-	5,641	-	4,962	-
Liabilities from deliveries and services	2,305	-	4,011	-	3,302	-
Liabilities with associated companies	-	-	-	-	-	-
Tax liabilities	364	-	754	-	454	-
Other liabilities	3,690	4,747	5,047	2,754	7,132	2,586
for obligations for salary payments	2,013	-	1,002	-	1,591	-
for liabilities of social securities	1,201	-	821	-	974	-
Others	476	4,747	3,224	2,754	4,567	2,586

Conditions of the financial liabilities listed above:

• Liabilities to banks serve solely for short-time payments, Interest due here is paid monthly.
• Average down payments on orders are offset after 12 months.
• Liabilities from deliveries and services are not interest-bearing and normally are due with 30 days.

6. Segment reporting

Business Segments Reporting as of June 30	Healthcare Software		Healthcare Service		Consolidation			Group
	2014 KEUR	2013 KEUR	2014 KEUR	2013 KEUR	2014 KEUR	2013 KEUR	2014 KEUR	2013 KEUR
Sales with third parties	33,602	30,340	4,221	4,032			37,823	34,372
-Deliveries	2,014	1,908	638	560			2,652	2,468
-Services	25,393	22,927	2,810	3,048			28,203	25,975
-Software updating and hardware maintenance	6,195	5,505	773	424			6,968	5,929
-Licenses	19	40	1,513	2,114	-1,532	-2,154	0	0
Sales between segments	33,621	30,380	5,734	6,146	-1,532	-2,154	37,823	34,372
Segment sales	3,129	2,808	452	442			3,581	3,250
Segment assets	73,723	76,313	3,415	1,566			77,138	77,879

Segmenting according Business Divisions

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:

Healthcare Software

In the areas NEXUS / CIS, NEXUS / CSO, NEXUS / DIS as well as NEXUS / HOSPIS, NEXUS / HOME 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 / ZERT) has also been assigned to this area. NEXUS also expanded its portfolio for quality management software with the product NEXUS / CURATOR. With the product group E&L medical systems GmbH, the departments endoscopy, cardiology and oncology be served.

Healthcare Service

The Healthcare Service Division covers the services, which are provided by NEXUS / IT companies and ASS.TEC Beratungsgesellschaft für Anwendungen, Systeme, Strategien und Technologien mbH, Villingen-Schwenningen. 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.

7. Seasonal Influences on the Business Activities

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.

Declaration according to § 37y No, 1 WpHG

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 18, 2014

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, info@nexus-ag,de