Interim report for Q1 2016: Three North American Orders and Improved Outlook for The Year

Udgivet den 10-05-2016  |  kl. 08:02  |  

SimCorp's Board of Directors today reviewed and approved the Group's interim report for the three months ended 31 March 2016.

Summary

Q1 reported revenue was EUR 59.6m, an increase of 5.5%  and an increase of 6.9% when measured in local currencies. Adjusted non-GAAP[1] revenue was EUR 64.4m, an increase of 13.9% and an increase of 15.4% when measured in local currencies.

EBIT for the three-month period was EUR 5.9m, compared with EUR 6.6m in the year-earlier period. Adjusted non-GAAP EBIT increased by 61% to EUR 10.6m.  

Net profit for Q1 2016 was EUR 4.5m compared with EUR 4.3m in Q1 2015.

SimCorp maintains its expectations for reported revenue growth and EBIT margin measured in local currency for 2016. Revenue growth measured in local currencies is still expected to be between 3% and 8%, and the expectation for EBIT margin measured in local currencies remains between 21% and 24%. However, SimCorp updates it expectations for the adjusted non-GAAP revenue growth in local currencies to be between 8% and 15% (previously between 8% and 13%) and the expectation for adjusted non-GAAP EBIT margin measured in local currencies to be between 24% and 28% (previously between 24% and 27%).

SimCorp will initiate a share buy back program of EUR 40m to be executed in the period from 10 May 2016 to 20 February 2017.

At 31 March 2016, contracts equalling EUR 202m of the projected 2016 reported revenue had been secured. This is EUR 5m more than at the same point in time last year.

Klaus Holse, SimCorp CEO, comments: "With three new SimCorp Dimension contracts in the important North American market and a new SimCorp Coric contract in the UK, we are off to a good start in 2016. Our pipeline continues to develop, we see more new sales cases coming to the market and we experience an increasing demand for our professional services supported by our continued new service offerings. All in all, we are confident about our improved financial outlook for the year."

 

[1] SimCorp changed from perpetual software licencing to subscription-based software licencing for Simcorp Dimension as of 2016. Adjusted non-GAAP figures are presented as if the SimCorp Dimension orders were still made on perpetual license terms and consequently income recognized when signed.

 

 

 

Vedhæftede filer:

2016-05-10_15_Announcement_Q1.pdf

Udgivet af: NPinvestordk

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