DGAP-News: ATOSS Software AG / Key word(s): Final Results/Dividend
ATOSS Software AG: Financial year 2013: ATOSS Software AG reports
record sales and earnings for the eighth successive year, outlook
remains positive
31.01.2014 / 08:00
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Financial year 2013: ATOSS Software AG reports record sales and earnings
for the eighth successive year, outlook remains positive.
Munich, 31.01.2014 - Provisional figures show that ATOSS Software AG
increased sales by 8 percent to EUR 35.5 million (previous year: EUR 33.0
million) in financial year 2013. The core software business, also up 8
percent, contributed EUR 21.8 million (previous year: EUR 20.1 million).
With double-digit growth in operating profits, EBIT was 11% higher at EUR
8.4 million (previous year: EUR 7.6 million), while the EBIT margin was one
percentage point higher than last year at 24 percent. The Munich-based
specialist in workforce management recorded growth in all product areas,
markets and sectors, continuing its record progress for an eighth
consecutive year. The Management Board takes a confident view of the
current year 2014 and expects further record figures.
Once again the core software business made a major contribution to the
company's consistent positive development in sales, accounting for a
proportion of turnover that was one percentage point higher at 62 percent.
Sales of software licenses, the driving force behind future sales revenues,
were 8 percent higher at EUR 7.5 million (previous year: EUR 7.0 million),
while software maintenance revenues climbed 9 percent to EUR 14.3 million
(previous year: 13.2 million). In its consulting business, ATOSS saw sales
rise by 3 percent to EUR 9.0 million (previous year: EUR 8.7 million),
while hardware contributed EUR 3.4 million (previous year: EUR 2.7
million), representing 9 percent of overall revenues.
Very strong fourth quarter with sales of EUR 9.0 million
The fourth quarter of 2013 was particularly successful, yielding the
highest quarterly sales in the company's history at EUR 9.0 million
(previous year: EUR 8.5 million). The order situation also remains
positive. Orders received for software licenses at EUR 2.1 million were
somewhat below the previous year's record of EUR 2.7 million, but still
came in at a very high level. The same applies to orders on hand which
stood at EUR 3.5 million as of December 31, 2013 (previous year: EUR 3.8
million).
2013 brings double-digit growth in operating profits, 24 percent margin
underscores profitability
In the past financial year, ATOSS once again demonstrated its considerable
profitability. Spending on research & development as well as sales and
marketing was further increased as planned. Nevertheless the operating
profit (EBIT) in the reporting period rose by 11 percent to EUR 8.4 million
(previous year: EUR 7.6 million). Meanwhile, the EBIT margin reached 24
percent, higher even than the excellent level of the previous year. On the
other hand, due to one-off effects resulting from the movement in the gold
price, a negative development in financial earnings ensued. As a result,
net income came in at EUR 3.0 million (previous year: EUR 5.8 million),
with earnings per share of EUR 0.76 (previous year: EUR 1.45).
The Management Board intends to propose that in drafting its resolution on
the appropriation of net income, the Supervisory Board recommends a
dividend of EUR 0.72 per share. This represents a continuation of the
distribution policy adopted by ATOSS more than a decade ago. At the end of
April 2013, ATOSS paid a dividend of EUR 0.72 along with a special
distribution of EUR 2.90 per share. The recommenda-tions for the
appropriation of net income put forward by the Management and Supervisory
Boards will be resolved upon at the annual general meeting on April 30,
2014.
A strong increase in cash flow from operations was recorded, which amounted
to EUR 8.3 million as of December 31, 2013 (previous year: EUR 3.4
million). By contrast, liquidity slipped from EUR 25.4 million in the
previous year to EUR 15.3 million as a result of the substantial EUR 14.4
million distribution to shareholders. Nevertheless with funds amounting to
EUR 15.3 million, or EUR 3.83 (previous year: EUR 6.40) per share, ATOSS
still has considerable liquidity at its disposal, one third of which on the
closing date was invested in gold, with two thirds in sight deposits at
banks.
Positive outlook for financial year 2014
The demand for workforce management solutions remains undiminished in
almost all sectors, and in the view of the Management Board, the market as
a whole continues to offer considerable potential. In an environment in
which business models are changing rapidly and businesses themselves face
increasing requirements, demand is growing as companies seek to improve
productivity, enhance flexibility and reduce operating costs. Analysts
therefore predict average annual growth rates in excess of 11 percent in
the global market for workforce management through to 2015.
With solutions that are currently being used by some 4,500 customers with
around 2.8 million employees in 31 countries, ATOSS is excellent positioned
to exploit this strong potential. The growth prospects and proven robust
business model that underpins ATOSS Software AG offer further support for
the company's future outlook. The Management Board therefore anticipates
that the company's record development will continue in the current
financial year, with an EBIT margin remaining securely above 20 percent.
Upcoming dates:
12.03.2014 Publication of the annual report for 2013
12.03.2014 Balance sheet press conference
17.04.2014 Press release announcing the 3-monthly statements
30.04.2014 Annual General Meeting
13.05.2014 Publication of the 3-monthly financial statements
22.07.2014 Press release announcing the 6-monthly statements
12.08.2014 Publication of the 6-monthly financial statements
21.10.2014 Press release announcing the 9-monthly statements
14.11.2014 Publication of the 9-monthly financial statements
24.-26.11.2014 German Equity Capital Forum, Frankfurt
CONSOLIDATED OVERVIEW AS PER IFRS: YEAR ON YEAR COMPARISON TO 31 DECEMBER
IN 000 EUR
(provisional figures for 2013)
<pre>
01.01.2- Proportion of 01.01.2- Proportion of Change
013 012 2013 /
- Total sales - Total sales 2012
31.12.2- revenues 31.12.2- revenues
013 012
Sales revenues 35,505 100% 33,005 100% 8%
Software 21,847 62% 20,143 61% 8%
Software 7,539 21% 6,987 21% 8%
licenses
Software 14,308 40% 13,156 40% 9%
maintenance
Consulting 8,962 25% 8,716 26% 3%
Hardware 3,356 9% 2,663 8% 26%
Miscellaneous 1,339 4% 1,483 4% -10%
EBITDA 9,007 25% 8,191 25% 10%
EBIT 8,432 24% 7,620 23% 11%
EBT 4,320 12% 8,528 26% -49%
Net earnings 3.020 9% 5,760 17% -50%
Cash flow 8,262 23,3% 3,355 10% 146%
Liquid funds (1/ 15,249 25,444 -40%
2)
EPS (in EUR] 0.76 1.45 -50%
Employees (3) 289 276 5%
</pre>
CONSOLIDATED OVERVIEW AS PER IFRS: QUARTERLY COMPARISON IN 000 EUR
(provisional figures for Q4 2013)
<pre>
Q4/13 Q3/13 Q2/13 Q1/13 Q4/12
Sales revenues 9,025 8,949 8,840 8,691 8,490
Software 5,617 5,369 5,585 5,275 5,292
Software licenses 1,965 1,779 2,025 1,769 1,931
Software maintenance 3,652 3,590 3,560 3,506 3,361
Consulting 2,375 2,165 2,264 2,158 2,182
Hardware 768 1,126 569 893 600
Miscellaneous 264 289 422 365 416
EBITDA 2,094 2,373 2,322 2,218 1,851
EBIT 1,946 2,230 2,186 2,070 1,702
EBIT margin in % 22% 25% 25% 24% 20%
EBT 1,404 2,487 -1,968 2,397 1,772
Net earnings 886 1,707 -1,307 1,733 1,197
Cash flow -186 5,658 297 2,493 -1,945
Liquid funds (1/2) 15,249 16,177 10,418 24,370 25,444
EPS (in EUR] 0.22 0.43 -0.33 0.44 0.30
Employees (3) 289 280 280 279 276
</pre>
Cash and cash equivalents, other current and non-current financial assets
(sight deposits, gold) as of the qualifying date, adjusted to exclude
borrowings (loans); (2): Dividend of EUR 3.62 per share on 29.04.2013 (TEUR
14,395); (3): at the end of the quarter/half year
Further information: 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 - 0
Fax: +49 (0) 89 4 27 71 - 100
investor.relations@atoss.com
End of Corporate News
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Language: English
Company: ATOSS Software AG
Am Moosfeld 3
81829 München
Germany
Phone: +49 (0)89 4 27 71-0
Fax: +49 (0)89 4 27 71-100
E-mail: investor.relations@atoss.com
Internet: www.atoss.com
ISIN: DE0005104400
WKN: 510440
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, München,
Stuttgart
End of News DGAP News-Service
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250376 31.01.2014
DGAP-News: ATOSS Software AG: Financial year 2013: ATOSS Software AG reports record sales and earnings for the eighth successive year, outlook remains positive
| Source: EQS Group AG