USU Software AG — Earnings Release 2013

Mar 27, 2014

News Details

Corporate | 27 March 2014 09:58

USU Software AG publishes final figures for 2013 and confirms planning – dividend of EUR 0.25 per share announced

DGAP-News: USU Software AG / Key word(s): Final Results/Dividend

27.03.2014 / 09:58

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* Significant increase in consolidated sales thanks to positive license
business
* High investments in growth impact consolidated earnings
* Rise in operating cash flow and Group liquidity
* Significant increase in sales and earnings planned for 2014
* Dividend of EUR 0.25 announced for 2013 fiscal year

USU Software AG (ISIN DE000A0BVU28) announced its final figures for 2013
today. These figures show that USU increased its IFRS consolidated sales by
8.8% to EUR 55,713 thousand (2012: EUR 51,229 thousand), particularly as a
result of strong software license sales with new customers as of the end of
the year. The USU Group thus increased license sales by 25.7% year-on-year
to EUR 10,056 thousand in the 2013 fiscal year (2012: EUR 7,997 thousand),
surpassing the EUR 10 million mark for license sales for the first time.
Maintenance business contributed EUR 12,364 thousand (2012: EUR 11,679
thousand) to consolidated sales, equivalent to a rise of 5.9% in comparison
to the previous year. USU increased its consulting income by 8.4% to EUR
31,668 thousand (2012: EUR 29,215 thousand) thanks to the positive
development of product business. Other income, which primarily relates to
merchandise sales of third-party hardware and software, totaled EUR 1,625
thousand in the four quarters of 2013 (2012: EUR 2,338 thousand).

After a modest start to the 2013 fiscal year, USU posted significant
business growth again in the second half of the year. In addition to the
acquisition of a majority interest in B.I.G. Social Media GmbH (BIG) in
2013 and the further development of the portfolio, this increase was also
attributable to the new product innovations launched on the domestic market
over the course of the reporting year. With a view to implementing its
medium-term strategy, the USU Group made substantial investments in
expanding its product range in 2013 and selectively expanded its workforce
by 24.9% year-on-year to 452 employees (December 31, 2012: 362). Taken
together with the up-front investments in the partnership with the US
software group CA Technologies and the muted overall development of the
consulting-based Service Business segment, these investments in growth
meant that operating earnings were lower than in the previous year.

As anticipated, earnings before interest and taxes adjusted for
extraordinary effects due to acquisitions (adjusted EBIT) amounted to EUR
5,083 thousand (2012: EUR 7,065 thousand). Unadjusted earnings before
interest and taxes (EBIT) totaled EUR 3,408 thousand (2012: EUR 3,528
thousand). Earnings before interest, taxes, depreciation and amortization
(EBITDA) increased to EUR 5,490 thousand (2012: EUR 5,265 thousand) in the
same period. All in all, net profit for the year amounted to EUR 3,646
thousand (2012: EUR 4,815 thousand), corresponding to earnings per share of
EUR 0.35 (2012: EUR 0.46).

Despite the high investments in the future, the dividend paid to USU
shareholders and the purchase price paid for BIG, USU increased Group
liquidity to EUR 14,231 thousand in the 2013 fiscal year (December 31,
2012: EUR 11,408 thousand). This was largely due to a positive cash flow
from operating activities, which improved from EUR 5,591 thousand in 2012
to EUR 9,855 thousand in the reporting period. This increase partly
reflects the cash inflow from contractual prepayments from CA under the
terms of the partnership agreement with USU.

Following the investments made in 2013, the Management Board of USU
Software AG believes that the Group as a whole is well positioned to
successfully achieve its medium-term targets of consolidated sales in
excess of EUR 100 million and a margin of more than 15% based on adjusted
EBIT by 2017. The Management Board expects sales to increase to EUR 63-65
million in the 2014 fiscal year, corresponding to organic sales growth of
more than 13%. Adjusted EBIT is forecast to rise by more than 50% to EUR
8-8.5 million in the same period. Based on this forecast, the Management
Board plans to allow the shareholders of USU Software AG to participate
significantly in the Company's operating success again.

In line with the USU Group's dividend policy, which stipulates the
distribution of roughly half of the Company's profit to the shareholders
but a dividend at least at the previous year's level, and in view of the
positive future prospects, the Management Board and the Supervisory Board
of the Company will propose a dividend distribution at the previous year's
level of EUR 0.25 per share at the Annual General Meeting for the 2013
fiscal year on June 24, 2014.

USU Software AG
The USU Group is the largest provider in Europe for IT and knowledge
management software. Market leaders from all sectors of the international
economy use USU applications to create transparency, enhance agility, save
costs and reduce their risks. In addition to USU AG, founded in 1977, USU
Software AG - which is listed in the Prime Standard of the German Stock
Exchange and in the GEX (ISIN DE000A0BVU28) - also includes the
subsidiaries Aspera GmbH, Aspera Technologies Inc., LeuTek GmbH, OMEGA
Software GmbH, USU Consulting GmbH and B.I.G. Social Media GmbH.

Contact:
USU Software AG
Corporate Communications
Dr. Thomas Gerick
Tel.: +49 (0) 71 41 - 48 67 440
Fax: +49 (0) 71 41 - 48 67 909
E-Mail: t.gerick@usu-software.de

USU Software AG
Investor Relations
Falk Sorge
Spitalhof
D-71696 Möglingen
Tel.: +49 (0) 71 41 - 48 67 351
Fax: +49 (0) 71 41 - 48 67 108
E-Mail: f.sorge@usu-software.de

End of Corporate News

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27.03.2014 Dissemination of a Corporate News, transmitted by DGAP - a
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Language: English
Company: USU Software AG
Spitalhof
71696 Möglingen
Germany
Phone: +49 (0)7141 4867-0
Fax: +49 (0)7141 4867-200
E-mail: info@usu-software.de
Internet: www.usu-software.de
ISIN: DE000A0BVU28
WKN: A0BVU2
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, München,
Stuttgart

End of News DGAP News-Service

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