DGAP-News: Mensch und Maschine Software SE discloses quarterly figures
(firmenpresse) - Mensch und Maschine Software SE / Quarter Results
26.04.2010 09:45
Dissemination of a Corporate News, transmitted by
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Good start into new fiscal year
- Sales and earnings at the upper end of expectations
- Full year 2010 outlook further underlined
Wessling, April 26, 2010 - Mensch und Maschine Software SE (MUM - ISIN
DE0006580806), a CAD/CAM specialist company, had a good start into the new
year. In Q1/2010 sales amounted to EUR 51.83 mln (PY: 47.96 / +8.1%),
operating earnings EBITDA amounted to EUR 2.25 mln (PY: 1.96 / +14.5%), and
net profit amounted to EUR 0.75 mln (PY: 0.77), after minority shares, or 5
Cents per share (PY: 6). Thus the recovery trend from Q4/2009 has
increased.
Sales growth came from the VAR business, which had been started in 2009,
with a sound 71% sales increase to EUR 13.55 mln (PY: 7.93). Gross margin
nearly doubled to EUR 5.22 mln (PY: 2.65 / +97%), representing a 32.2% (PY:
19.1%) contribution to group gross margin amounting to EUR 16.24 mln (PY:
13.86 / +17%). The VAR segment's contribution to EBITDA was still slightly
negative at EUR -0.16 mln (PY: +0.28) due to ramp up. Compared to the full
fiscal 2009 with a EUR -1.01 mln segment EBITDA, this represents a quite
significant improvement.
In the Distribution segment, sales dropped slightly to EUR 32.25 mln (PY:
33.96 / -5%). However, in Q1/2009 the transition from Distribution to VAR
Business in the German speaking area had not been fully completed. Adjusted
by this base effect, there was a moderate sales growth of approx. 10%,
mainly from UK, France, Italy and Poland. The development of segment EBITDA
was very satisfactory, having been more than doubled to EUR 1.58 mln (PY:
0.76 / +107%). Here the cost cuts carried out during 2009 now show full
impact.
A nearly constant contribution came from the Software segment with sales
amounting to EUR 6.03 mln (PY: 6.07) and EBITDA amounting to EUR 0.83 mln
(PY: 0.93). Compared with the 13% negative sales growth from 2008 to 2009,
this is an improvement. Maintenance contract business was already back to
growth, which resulted in deferred revenues increasing to EUR 4.02 mln (Mar
31, 2009: 3.42 / Dec 31, 2009: 0.65).
The business development during the first three months was at the upper end
of the estimated range both in sales and earnings. This makes M+M CEO Adi
Drotleff optimistic that the target ranges for fiscal year 2010 given in
the annual report 2009 should be achievable: 'From the actual point of view
we target approx. 10-13% sales increase to approx. EUR 180-185 mln, along
with EBITDA margin in the 2.5 to 3.5 percent range. This would result in a
bandwidth of EUR 4.5 to 6.5 mln (PY: 1.4) for EBITDA, with net profit
ranging from EUR 0.5 to 2.0 mln (PY: -4.8) and EPS from 3 to 14 Cents (PY:
-34). Achieving this earnings window together with positive operating cash
flows would enable us, after one year without dividend, to consider a
dividend payment of approx. 10 Cents.'
26.04.2010 09:45 Ad hoc announcement, Financial News and Media Release distributed by DGAP. Medienarchiv atwww.dgap-medientreff.deandwww.dgap.de---------------------------------------------------------------------------
Language: English
Company: Mensch und Maschine Software SE
Argelsrieder Feld 5
82234 Wessling
Deutschland
Phone: +49 (0)815 3933-0
Fax: +49 (0)815 3933-100
E-mail: investor-relations(at)mum.de
Internet: www.mum.de
ISIN: DE0006580806
WKN: 658 080
Listed: Regulierter Markt in München; Freiverkehr in Berlin,
Düsseldorf, Stuttgart, Hamburg; Open Market in Frankfurt
End of News DGAP News-Service
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Datum: 26.04.2010 - 09:45 Uhr
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