DGAP-News: Mensch und Maschine Software SE / Key word(s): Final
Results
Mensch und Maschine Software SE discloses final 2014 figures
16.03.2015 / 08:06
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Preliminary figures confirmed - cash flows +66%
- Outlook: EUR 3-4 Million EBITDA increase p.a. expected
Wessling, March 16, 2015 - Mensch und Maschine Software SE (MUM - ISIN
DE0006580806), a CAD/CAM specialist company, during the annual accounts
press conference today confirmed the preliminary 2014 figures which had
been disclosed on February 11. With 11% sales growth, M+M achieved more
than four Million Euro operating profit improvement, more than doubled
pretax profit and 42% net earnings increase, due to strict cost discipline.
2014 group sales amounted to EUR 140.02 mln (PY: 125.83 / +11%), to which
Software contributed EUR 38.50 mln (PY: 35.08 / +10%) and the VAR Business
contributed EUR 101.52 mln (PY: 90.75 / +12%). Group gross margin increased
to EUR 74.66 mln (PY: 67.46 / +11%), with contributions of EUR 36.58 mln
(PY: 32.51 / +12.5%) from Software and EUR 38.08 mln (PY: 34.95 / +9.0%)
from VAR Business.
Segment EBITDA amounted to EUR 7.21 mln (PY: 5.96 / +21%) for Software and
to EUR 3.66 mln (PY: 1.85 / +97%) for the VAR Business. Group EBITDA
increased to EUR 10.87 mln (PY: 7.81 / +39%). EBITDA margin increased to
18.7% (PY: 17.0%) for Software, 3.6% (PY: 2.0%) in the VAR Business and
7.8% (PY: 6.2%) for the group.
As depreciation, amortization and finance cost remained about constant,
profit before tax more than doubled to EUR 5.57 mln (PY: 2.59). Net profit
after minority shares increased to EUR 3.72 mln (PY: 2.62 / +42%), or 24
Cents (PY: 17) per share.
Development of the operating cash flows was very satisfactory, rising by
66% to EUR 6.29 mln (PY: 3.78), and shareholders' equity increased to EUR
39.24 mln (PY: 36.24 / +8%). The dividend remains stable at 20 Cents and
will again be paid out free of withholding tax (Kapitalertragssteuer).
M+M CEO Adi Drotleff gave a medium-term outlook: 'The past years showed
that we can achieve an annual EBITDA improvement of EUR 3-4 Million, which
also is our target corridor for the next years, until we will have reached
the 12% target margin for the group in 5-6 years. This should result in an
annual 13 to 20 Cents EPS increase - but with a bumpy start. In 2015 the
EBITDA increase will be largely compensated by the lapsing contribution of
the previous year's EUR 3 mln from the sale of the Distribution business,
closed in 2011, so the net result is estimated to remain roughly on the
2014 level. But in 2016 we will have additional tailwind, as amortization
will drop by more than EUR 1.5 mln, so we target EPS at 43 to 50 Cents,
representing a doubling in two years.'
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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: Regulated Unofficial Market in Berlin, Dusseldorf,
Hamburg, Munich (m:access), Stuttgart; Open Market (Entry
Standard) in Frankfurt
End of News DGAP News-Service
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333315 16.03.2015
DGAP-News: Mensch und Maschine Software SE discloses final 2014 figures
| Source: EQS Group AG