Utimaco Safeware AG / Final Results
30.09.2008
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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Utimaco Presents its Final Results for Financial Year 2007/2008
Revenues up by 20.0% to 59.2 million
Operating result (EBIT) improved to 10.9 million
Successful transition to the new product generation SafeGuard Enterprise
Oberursel, 30th September 2008 - After releasing its preliminary results on
the 5th August 2008, Utimaco today presented its final results for the
financial year 2007/2008 (July 2007 to June 2008). The company has
continued its positive business development of profitable growth in the
last fiscal year, which was focused on the transition to the new product
generation SafeGuard Enterprise. In total group revenues worth 59.2
million were achieved (previous year: 49.4 million), corresponding to a
growth in revenues of 20.0%. Utimaco increased its revenue across all
regions, but with differences in the speed of the product transition
process. In Germany, a seven-digit order for SafeGuard Enterprise helped
revenue to increase by a further 11.9% from the high level recorded in the
previous year to total 24.4 million. In the rest of Europe, revenue grew
by 39.6% to 18.8 million. The Americas region recorded a slight decline
in revenue in the first three quarters of the past financial year; however,
a strong fourth quarter, including the receipt of a major order for
SafeGuard Enterprise from a leading global IT consulting company, meant
that revenue for the year as a whole increased by 7.0% to 11.9 million.
In USD, this corresponds to growth of 21.9%.
In the past financial year, the Data Protection division, which develops
professional solutions for protecting the confidentiality and integrity of
data when it is stored, moved and in use, increased its revenues by 15.4%
to 49.8 million (previous year: 43.2 million). Its license sales grew
by 17.5% to 33.9 million (previous year: 28.9 million). SafeGuard
Enterprise product suite contributed with accelerated drive 17.1% to
divisional revenue and was used to safeguard customers data on more than
400,000 workstations at the reporting date. The number of workstations
protected by SafeGuard Enterprise more than tripled between the first and
second half of the financial year. This division's contribution to the
operating result (segment contribution) of 11.5 million (previous year:
11.5 milion) was burdened by 1.5 million previous year: 0.5 million)
amortization on capitalized development costs. The segment result in the
previous year was positively impacted by the capitalization of development
costs in the amount of 2.9 million.
The Lawful Interception & Monitoring Solutions (LIMS) division, which
develops solutions for network operators and telecommunications providers
for the legally-compliant monitoring of telecommunications services,
increased its revenues by 51.7% to 9.4 million (previous year: 6.2
million). This division's contribution to the operating result (segment
contribution) was 3.8 million (previous year 2.9 million).
The EBITDA result grew by 3.7% to 10.9 million (previous year: 10.5
million), which corresponds to a margin of 18.5% (previous year: 21.4%).
The EBITDA result achieved in the same period in the previous year was
positively impacted by capitalized development costs worth 2.9 million.
Adjusted by this effect the EBITDA improved by 43.3%.
The operating result (EBIT) equalled 8.2 million (previous year: 8.5
million), with an EBIT margin of 13.9% (previous year: 17.3%). After
adjustments to take account of the amortization on capitalized development
costs, worth 1.5 million in 2007/2008 (previous year: 0.5 million), and
the capitalization effects from the same period in the previous year, worth
2.9 million, the operating result improved by 59.9%, compared to the same
period in the previous year.
The result before tax (EBT) was 9.4 million (previous year: 9.7
million), which corresponds to a margin of 15.9% (previous year: 19.6%).
The result after tax (EAT) was 4.9 million (previous year: 6.3
million), which corresponds to a an increase in the tax rate from 35.1% in
the previous year to 48.1% in the year under review. This is primarily
attributable to the non-cash change of deferred tax assets on loss carried
forward especially for the Companys U.S. subsidiary and the change of the
tax rate in Germany. Undiluted earnings per share for the past financial
year amounted to 0.33 (previous year: 0.43).
A positive operating cashflow of 3.6 million (previous year: 9.3
million) was achieved.
In the financial year 2007/2008 liquid assets, including securities that
can be liquidated at short notice, improved by 0.8 million to 33.9
million.
Market researchers are forecasting continued positive development in the IT
security market over the coming years. Nevertheless, it is to be expected
that a slowdown in the global economy will have an impact on the growth of
the security software market as a whole. However, the growing importance of
the IPC market, the subsegment in which Utimaco is primarily active, is
likely to be only indirectly affected by this development due to the
expansion in the relevant legislation. In the current financial year
2008/2009, Utimaco will focus on completing SafeGuard Enterprise with
additional modules and will continue to invest in future growth to further
expand its leading market position. The offer to shareholders circulated by
the British company Sophos in August 2008 may result in delays in incoming
orders in the immediate future, as well as the potential loss of customers,
particularly government bodies in Germany. The project is also likely to
lead to a temporary increase in costs. However, the Management Board
expects these effects to be short-term in nature, and is forecasting
continued growth for revenue and moderate improvement for result for the
financial year 2008/2009.
About Utimaco Safeware AG The Data Security Company.
Celebrating 25 years in business, Utimaco is a leading global provider of
data security solutions, enabling mid- to large-size organizations to
safeguard their data assets against intentional or accidental data loss,
and to comply with privacy laws. Utimacos complete range of data security
solutions provide full 360 degree data protection for data at rest, data in
motion and data in use. Utimaco offers its customers comprehensive on-site
support via a world-wide network of certified partners and subsidiaries.
Utimaco Safeware AG, with headquarters in Oberursel, near Frankfurt,
Germany, is listed on the Frankfurt Stock Exchange (ISIN DE0007572406). For
more information please visit www.utimaco.com.
Utimaco Safeware AG -
The Data Security Company.
http://www.utimaco.de
Jutta Stolp, CIRO
Investor Relations
Tel.: +49 (0) 6171 88 11 17
E-Mail: jutta.stolp@utimaco.de
DGAP 30.09.2008
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Language: English
Issuer: Utimaco Safeware AG
Hohemarkstraße 22
61440 Oberursel
Deutschland
Phone: +49 (0)6171 88 - 0
Fax: +49 (0)6171 88 - 1290
E-mail: info@utimaco.de
Internet: www.utimaco.de
ISIN: DE0007572406
WKN: 757240
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Hannover, Düsseldorf, Hamburg, München, Stuttgart
End of News DGAP News-Service
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DGAP-News: Utimaco Safeware AG: Utimaco Presents its Final Results for Financial Year 2007/2008
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