ATOSS Software AG / Half Year Results
23.07.2009
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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Corporate News
ATOSS Software AG continues on course for record performance, strongest
half-year in the company's history
Munich, July 23, 2009 - Despite the recession ATOSS Software AG, the
specialist in workforce management, continues to maintain its unbroken
three-year record performance. In the first half of 2009 the company
increased its sales by 6% to EUR 14.2 million. Software sales actually grew
by 8% and consulting put on even 13%. Thanks to this success, all of the
key performance figures once again showed repeated improvement. Operating
profits (EBIT) were up 7% at EUR 2.9 million, while earnings per share rose
21% to EUR 0.52.
Overall interest in the solutions offered by ATOSS remained high in first
half of 2009, as reflected in the orders received for software licenses.
Orders booked were up 48% at EUR 4.2 million. As a result, orders on hand
at EUR 3.6 million were 80% higher as of June 30 than in the previous year.
When economic times are hard the subject of workforce management becomes
more significant than ever. The present widely fluctuating pattern of
business and the constantly changing demands on capacity make it
particularly difficult to schedule the necessary personnel. Now more than
ever there is a need for human resource transparency, highly flexible
working hours and demand-driven workforce scheduling and deployment. This
is where ATOSS solutions can help by optimizing processes, reducing costs
and facilitating increased productivity. The ultimate goal of the client's
investment lies in the resulting strategic competitive advantages.
Software licenses and consulting in particular demand
In the first half-year ATOSS recorded growth in every core area of its
business. Only non-core hardware sales registered a decline. Sales of
software licenses increased by 11% to EUR 3.1 million. Software maintenance
continued to develop positively, putting on 7% to stand at EUR 5.2 million,
while strong demand pushed consulting sales up 13% to EUR 4.2 million. As a
result software licenses made up 22% (previous year 21%) of consolidated
sales, with software maintenance accounting for 37% (previous year 37%) and
consulting 29% (previous year 28%). Thanks to its business model, ATOSS is
built on a very sound foundation. Total sales in the first half of 2009
amounted to EUR 14.2 million, up from EUR 13.3 million in the same period
last year.
Further improvement in results, earnings per share up 21%
Operating profits (EBIT) were up 7% over the year before at EUR 2.9
million, representing a margin on sales of 21%. Once again ATOSS has set
new records, not just for sales but for half-year results as well. Earnings
before taxes (EBT) were up 20% at EUR 3.1 million, while net income rose by
20% to EUR 2.1 million and earnings per share climbed 21% to EUR 0.52.
Rock solid: Cash flow, liquidity and equity ratio all increased
Operating cash flow developed along highly positive lines in the first
half, increasing from EUR 0.5 million last year to EUR 3.5 million. In
other words, ATOSS generated operating cash flow equivalent to 25% of
sales. Liquidity also rose by more than EUR 3.0 million to reach EUR 15.5
million, even though the dividend of EUR 0.44 per share (previous year EUR
0.31) distributed in May entailed an outflow in excess of EUR 1.7 million.
Liquidity per share on June 30, 2009 accordingly stood at EUR 3.93
(previous year: EUR 3.12).
ATOSS continues to exercise extreme caution in investing its liquid assets
in order to maintain its independence from banks and preserve the high
degree of security which the company enjoys. The company's outstandingly
sound position is underscored by an equity ratio of 61% (previous year
61%).
Strong order book underpins planning security
In the course of the year to date, ATOSS has secured orders from new
customers in the airline, retail and telecommunications sectors as well as
from existing clients. Orders for software licenses rose to EUR 4.2
million, an increase of EUR 2.9 million over the year before. Demand in the
first quarter was particularly gratifying, while the second quarter
represented a normal average.
On June 30, 2009, orders on hand for software licenses amounted to EUR 3.6
million, compared with EUR 2.0 million last year and EUR 1.5 million in mid
2007. The main driving force behind our business model thus continues to
develop strongly. This success is a product of our extensive investment in
our own research and development, amounting to EUR 2.7 million in the first
half of 2009, equivalent to 19% of sales.
Thanks to the current level of orders on hand, ATOSS can plan ahead with
security. The Management Board stands by its forecast for financial year
2009. It is to be expected that ATOSS will at least repeat the record
figures achieved last year.
Upcoming dates:
August 14, 2009 Publication of the 6-monthly financial statements
October 22, 2009 Press release announcing the 9-monthly statements
November 13, 2009 Publication of the 9-monthly financial statements
<pre>
Further information available from: http://www.atoss.com
Contact: ATOSS Software AG
Christof Leiber / Member of the Management Board
Am Moosfeld 3, D-81829 Munich
Tel.: +49 (0) 89 4 27 71 - 265
Fax: +49 (0) 89 4 27 71 - 100
investor.relations@atoss.com
</pre>
CONSOLIDATED OVERVIEW : Half-yearly comparison to June 30
<pre>
In TEUR (as per 01.01.2009 Proportion of 01.01.2008 Proportion of Cha
IFRS) - Total sales - Total sales nge
30.06.20 revenues 30.06.20 revenues
09 08
Sales 14,157 100% 13,319 100 % 6%
Software 8,350 59% 7,713 58 % 8%
of which 3,126 22% 2,820 21 % 11%
software
licensing
hie of which 5,224 37% 4,894 37 % 7%
software
maintenance
Consulting 4,150 29% 3,664 28 % 13%
Hardware 909 6% 1,540 12 % -41%
Miscellaneous 749 5% 403 3 % 86%
EBITDA 3,108 22% 2,916 22 % 7 %
EBIT 2,926 21% 2,735 21 % 7%
EBT 3,078 22 % 2,555 19 % 20%
Net income 2,075 15% 1,731 13 % 20%
Cash flow 3,530 25% 522 4 % âº10
0%
Liquidity 15,549 12,472 25%
(1/2)
S
EPS (in euro) 0.52 0.43 21%
Employees (3) 224 207 8 %
</pre>
CONSOLIDATED OVERVIEW : Quarterly comparison with the previous year
<pre>
In TEUR (as per IFRS) Q2/09 Q1/09 Q4/08 Q3/08 Q2/08
Sales 7,026 7,132 6,876 6,748 6,921
Software 4,162 4,188 4,178 4,126 3,996
of which software licensing 1,551 1,575 1,642 1,603 1,513
of which software 2,612 2,613 2,536 2,523 2,484
maintenance
Consulting 2,157 1,992 1,839 1,860 1,894
Hardware 345 564 689 540 814
Miscellaneous 361 388 170 222 216
EBITDA 1,498 1,610 1,203 1,310 1,521
EBIT 1,405 1,520 1,097 1,214 1,429
EBIT margin in % 20% 21% 16% 18% 21 %
EBT 1,472 1,607 1,166 1,394 1,549
Net income 995 1,080 831 948 1,046
Cash flow 748 2,782 -1,055 3,034 -2,513
Liquidity (1/2) 15,549 16,680 14,000 15,425 12,472
EPS (in euro) 0.26 0.27 0.21 0.24 0.26
Employees (3) 224 220 226 213 207
</pre>
(1): Cash and marketable securities (2): Dividend of EUR 0.44 per share
paid on 04.05.2009, equivalent to TEUR 1,739 (previous year EUR 0.31 paid
on 30.04.2008) (3): At the end of the quarter
DGAP 23.07.2009
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Language: English
Issuer: ATOSS Software AG
Am Moosfeld 3
81829 München
Deutschland
Phone: +49 (0)89 4 27 71-0
Fax: +49 (0)89 4 27 71-100
E-mail: revolution-in-time@atoss.com
Internet: www.atoss.com
ISIN: DE0005104400
WKN: 510440
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, München, Düsseldorf, Stuttgart, Hamburg
End of News DGAP News-Service
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DGAP-News: ATOSS Software AG continues on course for record performance, strongest half-year in the company's history
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