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Softing AG — Earnings Release 2014
May 6, 2014
405_rns_2014-05-06_03975e6e-237a-4bb5-8d37-a5a29ae0d991.html
Earnings Release
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Corporate | 6 May 2014 18:55
Softing AG: Preliminary Q1 2014 figures: Revenue boosted significantly – weaker earnings
Softing AG / Key word(s): Preliminary Results
06.05.2014 / 18:55
Softing today announces that it managed to significantly expand its business volume in the first quarter by boosting revenue by more than 30% to EUR 16 million (EUR 12 million). EBIT declined to around EUR 1 million (EUR 1.4 million) due to extraordinary items. Net profit for the year was EUR 0.64 million (EUR 1.1 million).
The figures include around EUR 2.34 million in revenue and a double-digit EBIT margin generated by Psiber Data GmbH, which was acquired effective January 1, 2014. At just under 13%, organic growth was strong – even without Psiber effects.
The result of the first quarter was significantly depressed by costs for setting up the new sales organization in North America, one-off costs for the completed acquisition and the costs of on-going acquisition efforts. A deferral of particularly high-margin release orders from major customers to the year’s second half also impacted first-quarter earnings.
Softing expects to roll out several new products in 2014 and anticipates initial effects from major multi-year orders to materialize. Furthermore, major customers have committed to taking delivery of planned product quantities during the year, despite the deferrals. Softing therefore confirms its annual revenue target of more than EUR 60 million and EBIT target of around EUR 7 million.
The complete Quarterly Report 1/2014 with the final figures can be downloaded from the investor relations section at www.softing.com from May 14, 2014.
About Softing AG
Softing is a global management holding company. The companies of the Softing Group produce and market hardware and software for in the industrial automation and automotive electronics segments. They develop high-quality standard technology products and customized solutions in close cooperation with their customers. Both of Softing’s business segments operate in growth markets. Softing aims at achieving sustainable profitability with double-digit revenue growth annually.
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| Language: | English |
| Company: | Softing AG |
| Richard-Reitzner-Allee 6 | |
| 85540 Haar | |
| Germany | |
| Phone: | +49 (0)89 456 56-333 |
| Fax: | +49 (0)89 456 56-399 |
| E-mail: | [email protected] |
| Internet: | www.softing.com |
| ISIN: | DE0005178008 |
| WKN: | 517800 |
| Listed: | Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, Hamburg, München, Stuttgart |
| End of News | DGAP News-Service |
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