DGAP-News: SNP Schneider-Neureither&Partner AG publishes Half-Year Financial Report for 2013
(firmenpresse) - DGAP-News: SNP Schneider-Neureither&Partner AG / Key word(s): Half
Year Results/Interim Report
SNP Schneider-Neureither&Partner AG publishes Half-Year Financial
Report for 2013
29.07.2013 / 08:01
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Corporate News
SNP publishes Half-Year Financial Report for 2013
- Consolidated revenue of EUR10.3 million in the first half of the year
(previous year: EUR13.6 million)
- EBIT of EUR-2.3 million (previous year: EUR1.5 million)
- Forecast for year as a whole withdrawn
- Mr Jörg Vierfußappointed new CFO of the SNP Group
Heidelberg, 29 July 2013 - SNP Schneider-Neureither&Partner AG (General
Standard, ISIN DE0007203705) generated lower revenue in the first half of
2013 as previously reported. Combined with the increased cost base due to
investments in the Company's future, this meant that EBIT for the first six
months was negative.
Dr. Andreas Schneider-Neureither, CEO and founder of the Company: 'We
implemented a range of measures in the first six months. SNP has a
fundamentally solid position and is preparing for its next growth phase.
This is why SNP has also kept its workforce constant, a step that will have
a positive impact in the medium term.'
SNP AG generated consolidated revenue of EUR10.28 million in the first half
of 2013 (previous year: EUR13.61 million). Revenue in the second quarter of
2013 amounted to EUR4.89 million (previous year: EUR6.31 million), down
slightly on the figure for the previous quarter. At EUR8.34 million
(previous year: EUR10.02 million), Professional Services (consultancy) made
the largest contribution to SNP AG's total revenue in the first half of the
year, increasing its revenue share from 74% to 81%. Accordingly, the
revenue share attributable to Software declined from 26% to 19%. All in
all, Software revenue amounted to EUR1.94 million (previous year: EUR3.59
million). The expiry of a sales partnership with SAP in the previous year
meant that revenue from maintenance services fell by 67% to EUR0.37 million
(previous year: EUR1.12 million). Licence revenue declined by 37% to
EUR1.57 million (previous year: EUR2.48 million).
The downturn in revenue combined with the increased cost base due to the
continued expansion of in-house development and marketing activities
resulted in negative earnings in the first half of 2013. The growth in the
number of employees to 226 (previous year: 198) meant that personnel
expenses increased to EUR8.39 million in the period under review (previous
year: EUR7.96 million). Other operating expenses increased to EUR3.47
million (previous year: EUR3.11 million), particularly as a result of value
adjustments on receivables. The operating result (EBITDA) amounted to
EUR-1.98 million at the end of the first half of 2013 (previous year:
EUR1.86 million). Earnings before interest and taxes (EBIT) amounted to
EUR-2.33 million (previous year: EUR1.48 million).
The consolidated net loss after minority interests for the period under
review amounted to EUR-1.67 million (previous year: net profit of EUR0.87
million). In calculating earnings per share, the bonus shares issued as
part of the capital increase from Company funds are included for the entire
period, and the prior-period figure has been adjusted to enable
comparability. Based on the number of shares calculated in this manner -
3.716 million for the first half of 2013 and 3.387 million for the
corresponding period of the previous year - earnings per share amounted to
EUR-0.45 in the period under review and EUR0.26 in the prior-year period.
SNP AG still has an extremely solid balance sheet structure, with no
liabilities to banks. As a result of the capital increase in December 2012,
the equity ratio as of 30 June 2013 amounted to 76% compared with 68% in
the same period of the previous year. Cash and cash equivalents increased
by around EUR2.00 million year-on-year to EUR7.00 million as of 30 June
2013.
The course of business in the first six months of 2013 meant that SNP AG
failed to meet its revenue and earnings forecasts by some way. As the
Executive Board is not currently anticipating sufficient revenue and
earnings growth in the second half of the year, the original revenue and
earnings forecast for 2013 as a whole - double-digit growth and an EBIT
margin of 14-18% - was withdrawn by way of an ad hoc disclosure published
on 1 July 2013. Due to uncertainties concerning customer behaviour and
ongoing economic development in individual European markets, detailed
statements on revenue and earnings performance for the financial year as a
whole are not possible at present.
However, the Executive Board believes that the organisational and personnel
measures initiated with the aim of achieving an operational improvement in
the sales structures will lead to measurable results in the next six to
nine months. Among other things, the newly concluded service partnership
with SAP is expected to strengthen the Company's fundamentally stable
consultancy business in the medium term, thereby serving as a basis for
future development.
Following close consultation with the Supervisory Board of SNP AG, Jörg
Vierfuß(45) has been appointed by the Executive Board as the new Chief
Financial Officer. Holding a degree in business administration, Mr. Vierfußhas been with SNP AG since summer 2012. In his role as authorised signatory
and commercial director, his responsibilities included the preparation of
the quarterly and annual financial statements. Prior to joining SNP, Mr.
Vierfußwas employed by the Freudenberg Group as a commercial director. Dr.
Andreas Schneider-Neureither will remain the sole member of the Executive
Board for the time being and will continue to be responsible for capital
market communications.
The full Half-Year Report for 2013 can be downloaded from the Investor
Relations/Financial Reports section of the Company's website at
www.snp-ag.com.
Heidelberg, 29 July 2013
SNP Schneider-Neureither&Partner AG
The Executive Board
About SNP
With the help and support of SNP AG, companies can increase the speed with
which they implement changes and adapt their IT landscapes to ever-changing
business conditions in a faster and more economical way. To achieve this,
the software company has developed SNP Transformation Backbone, the world's
first standard software for the automated analysis and standardised
implementation of changes in IT systems. The transformation platform is
based on the experience gathered in over 1,500 projects around the world.
The Company, which was formed in 1994, has bundled this with its
software-related services for Business Landscape Transformation.
In 2012, more than 200 employees in Europe, South Africa and the USA
generated revenue of EUR27.2 million. SNP AG, whose headquarters are in
Heidelberg, went public in 2000 and has been listed in the General Standard
of the Frankfurt Stock Exchange since 2003.
For more information: www.snp-ag.com
Investor Relations contact details:
SNP Investor Relations
Stefan Tobias Burkhardt
Phone: +49 6221 6425-637
Fax: +49 6221 6425-20
E-mail: IR(at)snp-ag.com
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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223082 29.07.2013
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