ATOSS Software AG / Final Results/Preliminary Results
29.01.2010
Dissemination of a Corporate News, transmitted by
DGAP - a company of EquityStory AG.
The issuer / publisher is solely responsible for the content of this announcement.
---------------------------------------------------------------------------
ATOSS Software AG achieves record result in crisis year 2009
Munich, 29.01.2010 - ATOSS Software AG, the specialist in workforce
management, generated a record result for the fourth time in succession in
2009 despite the worldwide recession. Business in the fourth quarter proved
to be particularly buoyant.
ATOSS achieved 8% sales growth in 2009, taking its turnover to EUR 29.1
million (previous year: EUR 26.9 million). The operating profit (EBIT)
climbed 9% to EUR 5.5 million (previous year: 5.0 million), exceeding even
the increased forecast issued on October 22, 2009. Earnings per share
actually increased by 14% to EUR 1.00 (previous year: EUR 0.88). Cash flow
also increased strongly to EUR 7.6 million (previous year: EUR 2.5
million), while liquidity climbed from EUR 14.0 million to EUR 19.3
million.
The strong trend in recent years underscores the fact that the solutions
ATOSS develops are in demand both in a positive economic environment as
well as in difficult times. The concept of workforce management and the
associated potential to optimize personnel deployment present opportunities
that no longer exist in areas such as purchasing and production, where the
potential for rationalization has largely been exhausted.
Research and development also at a record level
The Board of Management believes that the success of ATOSS is in large
measure attributable to the switch to pioneering new technologies in 2005
that have endowed the company with decisive competitive advantages. As an
integral part of the company's strategy, spending on research and
investment was once again increased in 2009, and the long-term customer
benefits and distinguishing features of ATOSS products and services were
extended still further. In the year 2009 alone, some EUR 5.6 million was
invested in developing new and refining existing products and services.
This also marked a new record and represented a 10% increase over the year
before.
Record figures for the full year and for Q4
For the fourth year in succession ATOSS has achieved record sales and
earnings in 2009. The company generated consolidated sales of EUR 29.1
million in 2009 (previous year: EUR 26.9 million). Sales of software rose
by 5% from EUR 16.0 million to EUR 16.8 million, while consulting sales
climbed 16% from EUR 7.4 million to EUR 8.5 million. In its non-core
business, ATOSS recorded hardware sales of EUR 2.3 million (previous year
EUR 2.8 million) and other sales revenues of EUR 1.5 million (previous year
EUR 0.8 million).
In the course of the year ATOSS generated sales in excess of EUR 7.0
million in each individual quarter and posted a new fourth quarter record
of EUR 7.7 million (previous year: EUR 6.9 million). Orders received for
software licenses ranged on a quarterly basis between EUR 1.1 and 2.8
million, amounting to a total for the year of EUR 7.0 million (previous
year: EUR 6.6 million). As a result, orders on hand on December 31, 2009
stood at EUR 3.3 million (previous year: EUR 2.5 million).
Above-average increase in earnings and outstanding development in cash flow
and liquidity
The operating profit (EBIT) climbed 9% to EUR 5.5 million (previous year:
EUR 5.0 million), while earnings before taxes (EBT) increased by 14% to EUR
5.9 million (previous year: EUR 5.1 million). Net income was up 13% at EUR
4.0 million (previous year: EUR 3.5 million), and earnings per share
reached a new peak of EUR 1.00 (previous year: EUR 0.88). The company's
success was also reflected in highly positive cash flow and liquidity. In
fact, ATOSS boosted cash flow by 204% over the year before, posting a
figure of EUR 7.6 million, equal to 26% of sales. As a result, liquidity
grew by 38% to EUR 19.3 million. ATOSS can now point to cash flow of EUR
1.92 per share and liquidity of EUR 4.88 per share. Due to the substantial
increase in the balance sheet total, the equity ratio on the closing date
stood at 57.2% (previous year: 64.1%).
Outlook: ATOSS plans for development at a record level
ATOSS Software AG began the new financial year 2010 with no reliance on
external lenders, an extremely sound financial base and a software
licensing order book worth EUR 3.3 million. The Board of Management is
satisfied that the subject of workforce management will continue to gain in
importance: large numbers of companies still have considerable scope for
optimization in the field of human resources. Intelligent personnel
deployment is a decisive factor in securing competitive advantages, and
ranks as a central and crucial aspect in determining future corporate
success.
ATOSS Software AG will therefore continue to consistently pursue its
strategy of sustained investment in research and development in order to
expand its market position. Another important undertaking is to strengthen
the company's presence in individual regions. With this aim in mind, the
company is purchasing the premises it has previously rented in Meerbusch
near Düsseldorf, effective as from January 1, 2010. The purchase price of
just under EUR 2.1 million will be covered out of liquidity. With no
further rental payments, the transaction will have a mildly positive effect
on earnings from financial year 2010 onwards. The Board of Management also
views the purchase of this property as a diversification of the company's
long-term investments.
In addition to strengthening its regional activities, the company also sees
substantial medium-term opportunities for growth in its international
business. ATOSS is already represented worldwide with its solutions
deployed in 23 countries, even without maintaining costly local offices of
its own. As the company becomes increasingly successful in attracting
multi-national clients, it is to be expected that international business
will steadily acquire greater significance in future.
In the new year 2010, company management expects the business developments
to continue at the same level as in the record year 2009. The company will
maintain its conservative accounting practices, the high level of
transparency in its reports and also its cautious forecasting policy. By
preserving continuity ATOSS intends to remain a company to rely on, not
least in the degree to which its shareholders participate in its success.
Therefore, company management will propose that last year's dividend of EUR
0.44 per share will be increased. The respective decision by the
Supervisory Board will be taken by the end of February.
Upcoming dates:
12.03.2010 Publication of the consolidated annual financial statements
for 2009
26.04.2010 Press release announcing the 3-monthly statements
30.04.2010 Annual general meeting in Munich
CONSOLIDATED OVERVIEW: Year-on-year comparison to December 31 (2009 figures
are provisional)
|[![CDATA[|[pre|]]]|]
In TEUR (as 01.01.2009 Proportion of 01.01.2008 Proportion of Change
per IFRS) - Total sales - Total sales 2009 /
31.12.2- revenues 31.12.2- revenues 2008
009 008
Sales 29,087 100% 26,943 100% 8%
Software 16,771 58% 16,017 59% 5%
of which 6,140 21% 6,064 23% 1%
software
licensing
of which 10,631 37% 9,953 37% 7%
software
maint.
Consulting 8,518 29% 7,363 27% 16%
Hardware 2,301 8% 2,769 10% -17%
Miscellan- 1,497 5% 794 3 % 89%
eous
EBITDA 5,903 20% 5,429 20% 9%
EBIT 5,519 19% 5,046 19% 9%
EBT 5,854 20% 5,115 19 % 14%
Net income 3,964 14% 3,510 13 % 13%
Cash flow 7,612 26% 2,501 9 % >100%
Liquidity 19,328 14,000 38%
(1/2)
EPS (in 1.00 0.88 14%
euro)
Employees 234 226 4%
(3)
|[![CDATA[|[/pre|]]]|]
CONSOLIDATED OVERVIEW: Quarterly comparison (figures for Q4 2009 are
provisional)
|[![CDATA[|[pre|]]]|]
In TEUR (as per IFRS) Q4/09 Q3/09 Q2/09 Q1/09 Q4/08
Sales 7,696 7,233 7,026 7,132 6,876
Software 4,331 4,090 4,162 4,188 4,178
of which software licensing 1,590 1,425 1,551 1,575 1,642
of which software 2,741 2,666 2,612 2,613 2,536
maintenance
Consulting 2,382 1,986 2,157 1,992 1,839
Hardware 726 666 345 564 689
Miscellaneous 257 491 361 388 170
EBITDA 1,239 1,557 1,498 1,610 1,203
EBIT 1,132 1,463 1,405 1,520 1,097
EBIT margin in % 15% 20% 20% 21% 16%
EBT 1,260 1,516 1,472 1,607 1,166
Net income 867 1,023 995 1,080 831
Cash flow 386 3,695 748 2,782 -1,055
Liquidity (1/2) 19,328 19,182 15,549 16,680 14,000
EPS (in euro) 0.22 0.26 0.26 0.27 0.21
Employees (3) 234 232 224 220 226
|[![CDATA[|[/pre|]]]|]
(1): Cash and marketable securities (2): Dividend of EUR 0.44 per share
paid on 04.05.2009 (previous year EUR 0.31); (3): At the end of the quarter
|[![CDATA[|[pre|]]]|]
|[![CDATA[|[/pre|]]]|]
Further information available from: 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 - 265
Fax: +49 (0) 89 4 27 71 - 100
investor.relations@atoss.com
29.01.2010 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|]]]|]
---------------------------------------------------------------------------
Language: English
Company: ATOSS Software AG
Am Moosfeld 3
81829 München
Deutschland
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, München, Düsseldorf, Stuttgart, Hamburg
End of News DGAP News-Service
---------------------------------------------------------------------------
DGAP-News: ATOSS Software AG: ATOSS Software AG achieves record result in crisis year 2009
| Source: EQS Group AG