DGAP-News: SNP Schneider-Neureither&Partner AG: Annual Report 2012 and Guidance for 2013
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SNP Schneider-Neureither&Partner AG: Annual Report 2012 and Guidance
for 2013
28.03.2013 / 09:18
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Corporate News
SNP publishes Annual Report 2012 and Guidance for 2013 - weak start to Q1
2013
- Consolidated sales revenues amount to EUR 27.2 million, consolidated
net income to EUR 1.9 million in 2012
- Low consultant utilisation and falling software revenues following
higher levels of investment depress business performance in Q1 2013 /
significantly negative EBIT expected in Q1 2013
- Restructuring of in-house sales team / promising progress with partner
sales for further growth in sales of licenses in 2013
- Despite weak Q1 2013 double-digit growth and an EBIT margin of 14-18%
expected for 2013
Heidelberg, 28 March 2013 - SNP Schneider-Neureither&Partner AG (ISIN
DE0007203705), which is listed in the regulated market (General Standard)
at the Frankfurt Stock Exchange, published its annual report for 2012
today. SNP AG reported total consolidated sales revenues of EUR 27.2
million in the 2012 financial year (previous year: EUR 26.6 million). In
particular sales of SNP Transformation Backbone(R) posted strong growth.
The postponement of decisions about the award of large-volume, high-margin
software agreements and the increase in expenses for the expansion in the
workforce and the intensification of marketing and sales activities led to
a reduction in the EBIT margin compared with the previous year from 17.5%
to 10.9%. In absolute terms EBIT of EUR 3.0 million was achieved in the
reporting period (prior year: EUR 4.7 million). Consolidated net income was
EUR 1.9 million (prior year: EUR 3.1 million). This results in earnings per
share of EUR 1.57 (diluted and undiluted) after EUR 2.64 for the 2011
financial year. The complete annual report can be accessed online via the
Investor Relations/Financial Statements section of the SNP website at
www.snp-ag.com.
At present, business performance remains below expectations in the first
quarter of 2013. At SNP, the first quarter is traditionally weaker than
subsequent quarters, particularly as far as consultancy is concerned. In
the previous year, individual major orders led to a strong first quarter.
However, the start of the current financial year is characterised by
perceptible restraint among customers, which has led to significantly lower
utilisation of our consultants. In addition, contrary to our original
expectations, large-volume orders postponed at the end of last year have
not yet been awarded. As a result, a sharp fall in sales revenues compared
with the previous year will be seen in the first quarter of 2013. At the
same time, the expansion in capacity in development and marketing in
particular and investment will lead, from today's perspective, to EBIT
being significantly negative, at about EUR -1 million, in the first quarter
of 2013.
The Executive Board has analysed the reasons for the poor sales situation
in the first quarter and initiated appropriate measures to ensure an
improvement in sales activities. SNP's in-house Software sales team, which
was expanded last year, has not yet achieved the desired results. To boost
Software sales in future, the sales team has been restructured, in terms of
both its organisation and the personnel involved, and the sales strategy
has been modified. The Executive Board expects greater flexibility from the
in-house sales team and rising sales figures in future from these measures.
The Executive Board is also very optimistic with respect to partner sales,
particularly with IBM. Promising meetings have been held with potential
customers in recent weeks via this cooperation globally, which are expected
to result in orders in subsequent quarters.
The Executive Board also still considers there is a strong probability that
the contracts postponed from last year will still be realised in the course
of the following quarters. At the same time, major projects could also be
divided up as part of several individual projects and commissioned on this
basis.
For these reasons, from today's perspective, the Executive Board is
assuming double-digit growth in sales and an EBIT margin of 14-18% for the
2013 financial year despite the subdued business performance in the first
quarter.
Heidelberg, 28 March 2013
SNP Schneider-Neureither&Partner AG
The Executive Board
End of Corporate News
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Language: English
Company: SNP Schneider-Neureither&Partner AG
Dossenheimer Landstraße 100
69121 Heidelberg
Germany
Phone: 06221-6425-111
Fax: 06221-6425-20
E-mail: investor.relations(at)snp-ag.com
Internet: www.snp-ag.com
ISIN: DE0007203705
WKN: 720370
Listed: Regulierter Markt in Frankfurt (General Standard);
Freiverkehr in Berlin, Hamburg, Stuttgart
End of News DGAP News-Service
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205486 28.03.2013
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