DGAP-News: Mensch und Maschine Software SE / Key word(s): Half Year
Results
Mensch und Maschine Software SE discloses half year report
28.07.2014 / 09:10
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Q2: Ambitious expectations fully fulfilled
- Double digit growth and a more than doubled EBITDA in Q2
- Targeted doubling of EPS to 35 Cents in 2014 underlined
Wessling, July 28, 2014 - Double digit sales growth and a more than doubled
EBITDA in the second quarter of 2014 fully fulfilled the internal
expectations at Mensch und Maschine Software SE (MUM - ISIN DE0006580806),
a CAD/CAM specialist company. Q2 sales climbed by 19% to EUR 32.99 mln (PY:
27.80), increasing six months sales to EUR 70.71 mln (PY: 65.25 / +8.4%),
to which Software contributed EUR 18.97 mln (PY: 17.83 / +6.4%) and the VAR
Business contributed EUR 51.74 mln (PY: 47.42 / +9.1%).
Gross margin increased to EUR 37.31 mln (PY: 34.19 / +9.1%), with
contributions of EUR 17.88 mln (PY: 16.67 / +7.2%) from Software and EUR
19.43 mln (PY: 17.52 / +11%) from VAR Business. Thus the six months gross
margin exceeded the previous record level from 2011, amounting to EUR 36.72
mln, including the Distribution business which was not yet sold at the
time. Excluding Distribution, gross margin had been EUR 26.47 mln, so it
grew 41% in three years, resulting in an annual growth rate around 13%.
Operating profit EBITDA before depreciation, amortization, interest and
taxes in Q2 alone has more than doubled to EUR 2.37 mln (PY: 1.04 / +127%).
Half year EBITDA amounted to EUR 3.46 mln (PY: 3.25 / +6.2%) for the
Software segment and to EUR 2.11 mln (PY: 1.04 / +102%) for the VAR
Business. Group EBITDA increased to EUR 5.57 mln (PY: 4.30 / +30%). Net
profit after minority shares grew to EUR 2.35 mln (PY: 1.26 / +87%), or 15
Cents (PY: 8) per share (undiluted).
Group headcount at June 30, 2014, was 714 (PY: 705 / +1.3%). By segment,
the development was quite different: While the VAR Business headcount
consolidated to 432 (PY: 437) people, M+M was investing in its
strategically important Software development, where the headcount was
increased to 282 (PY: 268).
M+M CEO Adi Drotleff confirms that the ambitious targets for 2014 are well
within reach: 'After the fully on plan first half year, we continue to
expect sales to approach EUR 140 mln (PY: 125.83 / +11%). EBITDA is still
targeted at EUR 11.5 mln (PY: 7.81 / 47%), net profit at EUR 5.5 mln (PY:
2.62 / +110%) or approx. 35 Cents per share (PY: 17).'
End of Corporate News
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28.07.2014 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
Germany
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
Standard)
End of News DGAP News-Service
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279494 28.07.2014
DGAP-News: Mensch und Maschine Software SE discloses half year report
| Source: EQS Group AG