IBS AG excellence, collaboration, manufacturing / Final Results/Preliminary Results
24.03.2010 08:32
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* Group turnover amounts to 18.3M EUR, turnover from maintenance business
increases by 17 per cent to 7.7M EUR
* EBITDA margin of 11 per cent
* EBIT margin of 7 per cent, EPS reach 0.19 EUR
* Volume of orders on hand increases by 8 per cent to 11.14M EUR
* Liquid funds remain constant at 6.4M EUR
* Single company IBS AG increases its turnover from licence sales and
maintenance by 11 per cent to 6.8M EUR and achieves a period result of
1.3M EUR, reaching a volume similar to that of the previous year
* 4th quarter Group turnover amounts to 5M EUR with an EBIT margin of 14
per cent
* Inflow of funds from operating activities increases by 52 per cent during
4th quarter
Hoehr-Grenzhausen, 24th March 2010: IBS AG is a leading supplier of
cross-company software solutions for quality, production and compliance
management. In spite of the recession, IBS AG was able to chart profitable
annual accounts for the 2009 financial year.
Preliminary Results for the 2009 Financial Year
Group turnover dropped to 18.3M EUR compared to 21.9M EUR generated during
the previous year. This decline was largely due to interruptions and
postponements in automotive sector projects. Given the liquidity shortage
on the capital markets, companies concentrated on conserving their own cash
resources. Temporary reductions in working hours in many plants led to a
lack of customer project personnel. Turnover from licence sales, services
and low-margin hardware business dropped accordingly during the period
under review whereas turnover from maintenance increased by 17 per cent to
7.7M EUR (previous year: 6.6M EUR). Software and maintenance revenue
accounted for 63 per cent of the overall turnover (previous year: 53 per
cent). The volume of orders on hand increased by 8 per cent to 11.14M EUR
during the period under review (previous year: 10.3M EUR) and comprises
turnover from orders and maintenance for the next 12 months. The single
company IBS AG increased its turnover from licence sales and maintenance by
11 per cent to 6.8M EUR. This illustrates that the Company's customers are
convinced of the benefits offered by the software in the automation of
business processes and unlocking cost-saving potentials, but were also keen
to postpone project management in favour of liquidity protection.
On average there was a reduction in all cost types of around 11 per cent,
however this was not proportional to a drop in turnover. EBITDA amounted to
1.94M EUR (previous year: 3.31M EUR) and equated to an EBITDA margin of 11
per cent (previous year: 15 per cent). Earnings before interest and taxes
(EBIT) fell accordingly to 1.28M EUR and corresponded to an EBIT margin of
7 per cent. Earnings per share (undiluted) stood at 0.19 EUR as at
31.12.2009. The Board of Management and Supervisory Board wish to continue
their dividend policy and will be proposing to the Annual General Meeting a
further dividend payout of 0.10 EUR per share for this year. The period
result for the single company IBS AG of 1.35M EUR remained at a similar
high level to that achieved during the 2008 financial year (previous year:
1.54M EUR). The subsidiaries IBS America, Inc. and IBS SINIC GmbH charted
an overall balanced period result at the end of the year.
The inflow of funds from operating activities for the IBS Group amounted to
1.54M EUR compared to 4.38M EUR during the previous year. This development
was largely due to the lower annual surplus, a decrease in trade payables
of 476K EUR, provisions to the sum of approximately 780K EUR and other
liabilities to the sum of 653K EUR. The Company continues to possess a
comfortable volume of cash and cash equivalents to the sum of 6.4M EUR
(previous year: 6.7M EUR), which corresponds to approximately 1 EUR per
share.
The shareholder's equity ratio was 68 per cent as at 31.12.2009 (previous
year: 63 per cent). Short-term liabilities dropped considerably by 1.5M EUR
to 4.3M EUR (previous year: 5.8M EUR), while long-term liabilities remained
constant at 2.55M EUR as at the accounts closing date (previous year: 2.55M
EUR).
Preliminary Result for the 4th Quarter 2009
The 4th quarter was without a doubt the best quarter of the 2009 financial
year, even if the result was not quite as good as that of the 4th quarter
2008. Group turnover amounted to 5M EUR (previous year: 6.59M EUR).
Earnings before taxes and interest (EBIT) amounted to 692K EUR (previous
year: 1,180K EUR) and corresponded to an EBIT margin of approximately 14
per cent. The Group surplus for the period reached a margin of 15 per cent
and at 730K EUR remained almost the same as that of the previous year
(previous year: 927K EUR). The inflow of funds from operating activities
rose by 52 per cent to 1,164K EUR compared to the same period of the
previous year (previous year: 767K EUR). The IBS Group generated
approximately 75 per cent of its operative cash flow during the 4th
quarter.
Outlook 2010
In spite of the weak macroeconomic situation that crept increasingly onto
the scene in the second half of 2008 and remained throughout 2009, the IBS
Group was able to close the last financial year profitably and with EPS of
0.19 EUR or a profit margin (Group result margin for the period) of 7 per
cent nevertheless.
Given the afore-mentioned macroeconomic situation it is currently difficult
to forecast performance during the 2010 financial year. We anticipate
having greater clarity of the business development from mid-2010 and look
forward to a more positive development than that of 2009. If the
macroeconomic situation stabilises any further, we anticipate our
customers' investment willingness to normalise and, inter alia, we will we
able to process a higher proportion of the volume of orders on hand.
The final consolidated financial statement 2009 shall be announced on 31st
March 2010 within the scope of the 2009 Annual Report, after which time the
2009 Annual Report will be available for download at www.ibs-ag.de
24.03.2010 08:32 Ad hoc announcement, Financial News and Media Release distributed by DGAP. Medienarchiv at |[![CDATA[|[a href="http://www.dgap-medientreff.de"|]www.dgap-medientreff.de|[/a|]]]|] and |[![CDATA[|[a href="http://www.dgap.de"|]www.dgap.de|[/a|]]]|]
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Language: English
Company: IBS AG excellence, collaboration, manufacturing
Rathausstrasse 56
56203 Hoehr-Grenzhausen
Deutschland
Phone: 02624/ 9180-424
Fax: 02624/ 9180-966
E-mail: investorrelations@ibs-ag.de
Internet: www.ibs-ag.de
ISIN: DE0006228406
WKN: 622840
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: IBS AG excellence, collaboration, manufacturing: IBS AG (Prime Standard ISIN DE0006228406) Announces Preliminary Figures for the 2009 financial year
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