DGAP-News: Mensch und Maschine Software SE discloses Q1 report
(firmenpresse) - DGAP-News: Mensch und Maschine Software SE / Key word(s): Quarter
Results
Mensch und Maschine Software SE discloses Q1 report
29.04.2013 / 09:52
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Strong start of new fiscal year 2013 - sales increased by 27%
- EBITDA up 69% purely operating - cash flows back to positive
Wessling, April 29, 2013 - Mensch und Maschine Software SE (MUM - ISIN
DE0006580806), a CAD/CAM specialist company, started the new fiscal year
2013 strongly.
Q1 sales climbed by 27% to EUR 37.45 mln (PY: 29.54), with M+M Software
contributing EUR 9.16 mln (PY: 8.16 / +12%) and the VAR Business
contributing EUR 28.29 mln (PY: 21.37 / +32%). The Software growth was
entirely organic, while in the VAR Business approx. 20% growth was organic
and approx. 12% was contributed by the acquisitions closed in the past 12
months in Italy, France and Germany.
Gross margin increased to EUR 18.21 mln (PY: 15.66 / +16%), with
contributions of EUR 8.55 mln (PY: 7.43 / +15%) from M+M Software and EUR
9.66 mln (PY: 8.23 / +17%) from VAR Business. Other operating income
decreased to EUR?1.86 mln (PY: 2.97), as the contribution from the sale of
Distribution business, closed in 2011, was EUR 1.0 mln (PY: 2.0), according
to plan. Gross margin thus represented 91% (PY: 84%) share in total added
value amounting to EUR?20.07 mln (PY: 18.62 / +7.8%)
Operating profit EBITDA before depreciation, amortization, interest and
taxes amounted to EUR 2.12 mln (PY: 1.72 / +23%) for Software and to EUR
1.14 mln (PY: 1.62) for the VAR Business. Group EBITDA amounting to EUR
3.25 mln (PY: 3.34) nominally came in slightly below previous year. Purely
operating, adjusted by the contributions from the sale of Distribution, it
rose by a remarkable 69%.
Net profit after minority shares amounted to EUR 1.37 mln (PY: 1.32), or 9
Cents (PY: 9) per share (undiluted).
All in all, sales and earnings in the first quarter were slightly above our
internal expectations. On the one hand this was due to the strong M+M
Software business and a high demand for Autodesk subscriptions. In
addition, the European VAR Business, five quarters after its start, is
developing very dynamically, contributing increasingly significant amounts
to segment sales and gross margin and being fully on plan.
Group headcount at March 31, 2013, rose to exactly 700 (PY:?649 / +8%).
Adjusted by the 39 employees from acquisitions, the increase was just 2%.
In the VAR Business, due to H2/2012's cost consolidation, headcount even
decreased by 10 people.
Operating cash flows, which had been negative during 2012 due to the
business model transition with its working capital changes, returned to the
black, amounting to EUR 1.30 mln (PY: -1.32).
'The strong business development during the first quarter makes us
confident that the targets for fiscal year 2013, given in the annual report
2012, should be achievable' M+M CEO Adi Drotleff happily states. 'So, from
this actual point of view, sales are expected to approach to EUR 150 mln
(PY: 118.80) - this assumption includes 1-2 further VAR business
acquisitions, without which the target is just under EUR 140 mln. For
EBITDA, the lower contribution from the Distribution business sale,
totaling at least EUR 5 mln, has to be compensated over the full fiscal
year. Keeping this in mind, the EUR 11 mln (PY: 9.97) EBITDA target assumes
that comparably high operating progresslike in Q1 can be achieved in the
further course of the year. Net profit is targeted to approx. EUR 4.5 mln
(PY: 3.62) or nearly 30 Cents per share (PY: 24). An unchanged 20 Cents per
share dividend payment (tax free) is planned.'
The detailed Q1 report can be accessed under http://www.mum.de/Investor
Click the button 'English Version'
End of Corporate News
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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(at)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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208859 29.04.2013
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Datum: 29.04.2013 - 09:52 Uhr
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