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Sword Group — Earnings Release 2012
Jul 24, 2012
9939_iss_2012-07-24_3b75e627-a5d4-4368-bd84-d0fa2a004003.pdf
Earnings Release
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SWORD
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Sword Group
Results For The First Semester of FY2012
Proforma Revenue Increased by 8.41%
Backlog Increased by 19.8%
Luxemburg - 24th July 2012
Analysis of H1-2012 results compared with H1-2011 results
| H1 (1) | |||
|---|---|---|---|
| €K | 2012 | 2011 (2) | Variation |
| Revenue | 66,974 | 61,780 | 8.41% |
| Current Operating Profit | 9,199 | 9,091 | 1.19% |
(1) Unaudited figures
(2) Comparative figures for the same group perimeter in H1-2012
Consolidated Financial Statements for the First Semester of FY2012
| H1 (1) | |||
|---|---|---|---|
| €K | 2012 | 2011 (2) | Variation |
| Revenue | 66,974 | 90,275 | -25,81 % |
| Current Operating Profit | 9,199 | 13,771 | -33,20 % |
(1) Unaudited figures
(2) Figures including companies disposed of in FY2011
H1-2012 ANALYSIS
The revenue for H1-2012 represents 50.9% of the full year budgeted revenue.
The operating profit recorded in H1-2012 represents 54.1% of the full year budgeted operating profit.
The organic growth at 8.41% is greater than the target which was set at 7%.
As at the 30th June 2012 the backlog position has increased to 24.2 months in comparison to 20.2 months as at 30th June 2011. This is a positive indicator of Sword's capacity to continue to generate strong levels of organic growth.
The net cash position as at 30th June 2012 is €1.6m compared with the proforma net cash position of -€5.9m as at the 30th June 2011.
KEY EVENTS POST 30TH JUNE 2012
Sword has signed an agreement subject to financing for the disposal of Ciboodle to Kana Software inc. The disposal of Ciboodle completes Sword's restructuring aimed at moving away from "perpetual" business model to focus on SaaS and ASP business models regarding Software division. Sword will now be fully focused around organisations generating strong levels of high value added recurring Services revenue.
FUTURE PROSPECTS
Sword having completed its restructuring is now in the fortunate position to be able to announce:
- First semester performance in line with budget,
- Strong backlog 20% greater than prior year,
- Positive organic growth greater than budgeted,
- Coherent strategic alignment around core businesses,
- Strong cash position following profitable disposals.
Sword will provide more detailed analysis in respect of this disposal following the finalisation of the financing. Sword will now be refocused around its strategy as a Service provider of high value added recurrent Services to the global market place. These activities may be delivered via ASP / SaaS or more traditional Services models. Sword has offices in 14 countries and is managing projects in over 30 countries, all managed and controlled from the Head Office in Luxemburg.
Sword Group H1-2012 (1)
Consolidated Revenue: €66.97m
Consolidated Net Profit: €5.44m
Meeting to present the first semester results: 12th September at 10am in Paris
(1) Unaudited figures
Investor Relations
Sword Group
1,306 staff (30/06/2012)
Euronext Paris - Compartment C (Mid Caps)
ISIN Code: FR0004180578
ICB: 9530 Software & Computer Services
Indices CAC® Small
CAC® Mid & Small
CAC® All-Tradable
CAC® All-Share
© Sword Group SE
105, Route d'Arlon
L-8009 Strassen
GD Luxembourg
NYSE Euronext
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The press release will be published on the web sites here after: Thomson Reuters, Boursorama and Sword Group. It was also sent to the "Commission de Surveillance du Secteur Financier (CSSF)" and saved on the Luxembourg Stock Exchange's web site.