DGAP-News: Mensch und Maschine Software SE discloses Q1 report

| Source: EQS Group AG
DGAP-News: Mensch und Maschine Software SE / Key word(s): Quarter
Mensch und Maschine Software SE discloses Q1 report

28.04.2014 / 09:07


Strong start of fiscal year within expectations
- 28% of 2014 EBITDA target achieved
- Ambitious targets for 2014 fully confirmed

Wessling, April 28, 2014 - Mensch und Maschine Software SE (MUM - ISIN
DE0006580806), a CAD/CAM specialist company, started the new fiscal year
2014 strongly, though the exceptionally good Q1/2013 could not be exceeded,
as expected.

Sales amounted to EUR 37.72 mln (PY: 37.45 / +0.7%), with M+M Software
contributing EUR 9.84 mln (PY: 9.16 / +7.4%) and the VAR Business
contributing EUR 27.88 mln (PY: 28.29 / -1.5%). The Software segment
profited from M+M's re-entering into the development of the electrical
engineering software ecscad, while in the VAR Business the previous year's
Q1 had been impacted by a high demand for Autodesk subscriptions before
price increases.

Gross margin climbed to EUR 18.99 mln (PY: 18.21 / +4.3%), with
contributions of EUR 9.22 mln (PY: 8.55 / +7.8%) from Software and EUR 9.78
mln (PY: 9.66 / +1.2%) from VAR Business. Gross yield increased to 50.4%
(PY: 48.6%), driven by a higher proprietary contribution from M+M Software
and Services.

Operating profit EBITDA before depreciation, amortization, interest and
taxes amounting to EUR 2.13 mln (PY: 2.12) for Software came in at the very
high previous year's level, while for the VAR Business it was slightly
lower at EUR 1.07 mln (PY: 1.14). Group EBITDA amounting to EUR 3.20 mln
(PY: 3.25) thus nearly reached the strong previous year's level. With 28%
achievement of the EUR 11.5 mln full year 2014 target, EBITDA is absolutely
on plan.

Net profit after minority shares amounted to EUR 1.46 mln (PY: 1.37), or
9.5 Cents (PY: 9) per share (undiluted). Operating cash flows continued its
positive development, increasing by remarkable 77% to EUR 2.66 mln (PY:

Group headcount at March 31, 2014, rose to 717 (PY: 700 / +2.4%). By
segment, the development was quite different: While the VAR Business
further consolidated and decreased headcount by 13 people, M+M is investing
in its strategically important Software development, where 30 new positions
were created during the past 12 months.

M+M CEO Adi Drotleff confirms the ambitious targets for 2014: 'After the
fully on plan start of the year, we expect sales to approach EUR 140 mln
(PY: 125.83). EBITDA is targeted at EUR 11.5 mln (PY: 7.81), net profit at
EUR 5.5 mln (PY: 2.62) or approx. 35 Cents per share (PY: 17).'

End of Corporate News


28.04.2014 Dissemination of a Corporate News, transmitted by DGAP - a
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Language:    English                                                 
Company:     Mensch und Maschine Software SE                         
             Argelsrieder Feld 5                                     
             82234 Wessling                                          
Phone:       +49 (0)815 3933-0                                       
Fax:         +49 (0)815 3933-100                                     
E-mail:      investor-relations@mum.de                               
Internet:    www.mum.de                                              
ISIN:        DE0006580806                                            
WKN:         658 080                                                 
Listed:      Freiverkehr in Berlin, Düsseldorf, Hamburg, München     
             (m:access), Stuttgart; Frankfurt in Open Market (Entry  
End of News    DGAP News-Service  
264911 28.04.2014