FJA AG / Half Year Results
14.08.2008
Release of a Corporate News, transmitted by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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FJA: EBIT at new high of 1.7 million Euro for Q2 2008
- FJA Group's EBIT up 54% on same quarter of 2007
- At 16 million Euro, turnover up 4.5% on same quarter in preceding year
- Executive Board confirms forecast for year
Munich, 14 August 2008 FJA AG (ISIN DE0005130108) posted clear increases
in both turnover and income for Q2 2008 compared with the same quarter in
the preceding year.
Overview of the second quarter:
Compared with Q2 2007, consolidated turnover rose 4.5% from 15.3 million
Euro to 16.0 million Euro. Annualised turnover per employee thus rose by a
further 2.3% to 134 thousand Euro compared with 131 thousand Euro in the
preceding year. The operating result before interest and taxes (EBIT) rose
54% to 1.7 million Euro (preceding year: 1.1 million Euro). This represents
an EBIT margin of over 10% (2007: 7.1%). With a post-tax result of 1.3
million Euro (preceding year: 0.8 million Euro), earnings per share
amounted to 0.06 Euro (2007: 0.04 Euro). Despite high scheduled cash
outflows (profit sharing) and settlements, the cash flow from operating
activities for Q2 was 0.1 million Euro. Cash and cash equivalents totalled
18.4 million Euro as at the end of June.
Overview of the first half-year:
The 4% rise in total turnover for the first half-year of 2008 from 30
million Euro to 31.2 million Euro was largely due to the high volume of
turnover from services. At 26.2 million Euro, this was around 10% up on the
preceding year. It thus more than compensated for the share of turnover
from maintenance and licences, which was below the seasonal average in the
first quarter. With EBIT at 2.7 million Euro (preceding year: 2.5 million
Euro; +9%) and representing an EBIT margin on turnover of around 9%, in
terms of the annual target this almost compensated for the extraordinary
burdens of the first quarter. The result after taxes rose to 2.1 million
Euro compared with 1.9 million Euro in the preceding year. This produced
earnings per share of 0.10 Euro (preceding year: 0.08 Euro).
At the end of the first half-year, FJAs figures were extremely sound, with
an equity share of 57%, a net cash position of 14.2 million Euro (preceding
year: 10.9 million Euro; +30%) and cash and cash equivalents of 18.4
million Euro (preceding year: 16.9 million Euro; +9%). The free cash flow
was 0.3 million Euro (preceding year: -1.1 million Euro); here it is
important to note a recent 2.7 million Euro rise in billed receivables
compared with 31 December 2007. At 483, the number of employees as at 30
June was 3.4% higher than the preceding year.
Development of business:
At the end of June 2008, the secured turnover base for the current fiscal
year was more than 58 million Euro. The company calculates this parameter
by adding together realised turnover, existing orders and canvassing
projects weighted with an 80% likelihood of materialising. During the
second quarter of 2008, additional projects were in particular secured in
the USA and by the Migration division.
Outlook:
Given the favourable development over the first half-year and the pleasing
order situation, the Executive Board is keeping to its forecast for
turnover of between 64 and 68 million Euro and an EBIT margin of well over
10% of turnover.
About FJA:
FJA AG is a leading supplier of software and consulting for the insurance
industry and pensions market. Under its brand name FJA, the FJA Group
offers a broad range of standard software solutions to support insurance
companies and pension providers in all key areas and issues.
Alongside a strong market presence in Germany, FJA software is also used
for 26 countries on five different continents, including the USA and
Australia and a number of Eastern European countries. The companys latest
successes in expanding business abroad have included winning renowned
health and non-life insurers as customers for its US subsidiary.
Currently, the FJA Group employs more than 450 people at its head office in
Munich, its German offices in Hamburg, Cologne and Stuttgart and its
subsidiaries in the US, Switzerland, Austria and Slovenia.
The company was founded in 1980 and has been listed on the Frankfurt Stock
Exchange since February 2000. FJA AG was included in the Prime Standard
index in January 2003.
For further information please contact:
Dorothea Kurtz, FJA AG, Elsenheimerstraße 65, D-80687 Munich,
Telefon 089 769 01 7002, Telefax 089 769 88 13, email
dorothea.kurtz@fja.com
DGAP 14.08.2008
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Language: English
Issuer: FJA AG
Elsenheimerstraße 65
80687 München
Deutschland
Phone: +49 (0)89 769 01-0
Fax: +49 (0)89 769 88-13
E-mail: investor.relations@fja.com
Internet: www.fja.com
ISIN: DE0005130108
WKN: 513010
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Stuttgart, München, Hamburg, Düsseldorf
End of News DGAP News-Service
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DGAP-News: FJA AG: EBIT at new high of 1.7 million Euro for Q2 2008
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