GK Software AG / Half Year Results
28.08.2008
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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- Revenues in H1 2008 up 45.5% to EUR 7.69 million
- Strong growth also expected in future
Schöneck, August 28, 2008 GK SOFTWARE AG, a European technology leader in
the development and provision of standard software solutions for the retail
industry, also continued its dynamic, on-track growth in the first half of
2008. According to final figures, the software company increased its
revenues by 45.5% compared to H1 2007 to EUR 7.69 million. At the same
time, EBIT lifted by 80.5% to EUR 1.52 million, with the EBIT margin
climbing to 21.5% in terms of total operating revenue (previous year:
16.2%).
GK SOFTWARE AG's net income for the period increased to EUR 1.03 million in
H1 2008. This corresponds to earnings per share of EUR 0.62 based on the
1,665,000 shares in circulation on June 30, 2008. Equity increased
significantly to EUR 10.71 million on June 30, 2008 in connection with the
company's successful IPO on June 19, 2008. As a result, the equity ratio
increased to 57.9% at the end of the first half of 2008. The cash flow
increased to EUR 1.85 million in the first six months of 2008, and
underscored GK SOFTWARE AG's high earnings power.
The significant improvement in revenues and earnings was due to factors
including the broader customer base and the successful implementation of
several major projects. For example, the company finished the roll-out of
its project for 'Depot', a new customer from 2007. In addition, the
existing client relationships have been intensified and expanded.
Rainer Gläß, GK SOFTWARE AG's CEO and founder is very pleased with the
results from the first half of the year. 'Our growth is really on track! We
plan to increase our customer base still further in future and successfully
execute new projects in Germany and abroad. We have created the foundations
we need in this regard by going public.'
The Managing Board is thus forecasting substantially double-digit growth
rates for revenues and earnings in 2008. Profitability is also to expected
at a continued high level. The positive outlook is based on factors
including the recently acquired major orders, for example for the luxury
goods manufacturer ESCADA, the key international project for Coop
(Switzerland) and new small and medium business customers. These orders
will already be reflected in income in the second half of 2008 and will
also form a solid basis for the planned dynamic growth in 2009.
The full six-month report will be published today on GK SOFTWARE AG's Web
site in the Investor Relations section.
Company Profile
GK SOFTWARE AG is a European technology leader in the development and
provision of standard software solutions for the retail industry. It
supplies an end-to-end range of products for retail stores and company
headquarters. The open and platform-independent software solutions of the
GK/Retail Suite, which are fully programmed in JAVA, have allowed the
company to establish itself on the market as a technology and innovation
leader. The software allows retail chains to optimize their company's
organization and to create significant potential for cost savings as well
as to realize customer loyalty potential in order to increase
competitiveness. The key features of the solutions are: international
applicability, consistent use of open standards and SOA (Service Oriented
Architecture) capability. As GK/Retail is genuine standard software,
parameters can be used to make the necessary adjustments to meet most
customer requirements. This reduces the programming effort and allows rapid
project completion. At the same time, solutions for customers remain
releasable and new functions can be introduced by a release change. A key
component of the modular software is also the StoreWeaver integration
platform, which connects all the subsystems in a retail store and also
provides a powerful interface for enterprise systems such as ERP or CRM
solutions.
The company employs 169 employees (as of June 30, 2008) at its headquarters
in Schöneck and at three other business locations: Berlin, Pilsen in the
Czech Republic and Basel/Riehen in Switzerland. GK SOFTWARE AG can list
well-known German retail stores among its customers which include, for
example, Galeria Kaufhof, Parfümerie Douglas, EDEKA Hannover-Minden, Lidl,
Netto Markendiscount and Tchibo, as well as its first international
customer Coop, headquartered in Switzerland. The companys software
solutions are being used in approximately 12,000 retail stores in over
50,000 installations in currently 22 countries worldwide. The company has
grown quickly over the past few years and its revenues reached EUR 10.75
million in 2007. The companys EBIT amounted to EUR 2.33 million (EBIT
margin on total operating revenue of 20.0%). Since 1990, the two founders
and Executive Board members, Rainer Gläß (CEO) and Stephan Kronmüller
(CTO), together with the Executive Board members Ronald Scholz (COO) and
André Hergert (CFO) have grown GK SOFTWARE AG to become a fast-growing,
profitable company.
Investor relations contact:
cometis AG
Ulrich Wiehle
Tel.: +49 (0)611-205855-11
Fax: +49 (0)611-205855-66
E-mail: wiehle@cometis.de
DGAP 28.08.2008
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Language: English
Issuer: GK Software AG
Waldstr. 7
08261 Schöneck
Deutschland
Phone: 037464 - 840
Fax: 037464 - 8415
E-mail: investor-relations@gk-software.com
Internet: www.gk-software.com
ISIN: DE0007571424
WKN: 757142
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, München, Stuttgart
End of News DGAP News-Service
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DGAP-News: GK SOFTWARE AG confirms dynamic on-track growth
| Source: EQS Group AG