DGAP-News: adesso AG considerably increases sales and earnings year on year in the first half of 2013
(firmenpresse) - DGAP-News: adesso AG / Key word(s): Half Year Results
adesso AG considerably increases sales and earnings year on year in
the first half of 2013
28.08.2013 / 07:30
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* Sales up 16 % to EUR 65.3 million
* EBITDA increases by 113 %, from EUR 1.4 million to EUR 2.9 million
* EBITDA in the second quarter on par with previous quarter
* Earnings per share rises from EUR -0.43 to EUR 0.19
* Forecast for sales and operating results in 2013 is maintained
adesso Group increased sales in the first half of 2013 by 16 % year on year
to a new high of EUR 65.3 million. Of this growth, 10 percentage points
related to the organic expansion of existing business activities, meaning
that adesso once again had higher growth than the market. Consulting and
tailor-made software development in Germany were chiefly responsible for
this growth. In a market environment that remains positive overall, adesso
won a great many significant orders, including a long-running project by
Helvetia Versicherung to develop a broker sales solution, and established
itself as the key framework contract partner of BITMARCK - adesso's largest
customer - after making a successful bid in a Europe-wide application
process for up to four more years. In the second quarter, sales rose by 14
% year on year to EUR 33.0 million, and by 2 % against the first quarter of
2013.
Despite investing in internationalisation and lower product sales, growth
and increasing capacity utilisation in the IT Services business in Germany
resulted in a considerable rise in operating earnings (EBITDA) and the
operating margin. EBITDA increased by 113 % year on year in the first half
of 2013 to EUR 2.9 million; the EBITDA margin rose from 2.4 % to 4.5 %.
EBITDA in the second quarter of 2013 amounted to EUR 1.4 million compared
to EUR 1.5 million in the first quarter. Consolidated earnings rose even
sharper, by 140 % to EUR 1.2 million, mainly due to the drop in
amortisation from company acquisitions as well as the negative effects
incurred in the previous year. Earnings per share climbed by EUR 0.62 to
EUR 0.19.
On 30 June 2013, adesso held liquid assets of EUR 13.4 million (previous
year: EUR 15.6 million; 31 December 2012: EUR 21.4 million); net liquidity
(liquidity less interest-bearing liabilities) amounted to EUR 6.9 million
(previous year: EUR 6.7 million; 31 December 2012: EUR 13.7 million). The
drop in the first half of 2013 was due to the payment of variable salary
components for the previous year as well as to dividend and redemption
payments. Equity increased to EUR 34.2 million (previous year: EUR 31.3
million; 31 December 2012: EUR 34.1 million) and the equity ratio rose from
44.6 % on 31 December 2012 and 42.8 % in the previous year to 47.2 %.
As expected, earnings in the first half of 2013 are less than half of the
forecast for the full year due to the seasonality in the product business
in particular as well as to the lower number of working days. Further
progress in the restructuring of the Utilities business area and rising
license sales revenues in Germany and abroad are expected in the second
half of the year; in light of the current capacity utilisation and order
situation, the company maintains its forecast for the full year.
The complete Half-year Report and an overview of the key performance
figures in table form are available under Investor Relations on the adesso
website: http://www.adesso-group.de/en/investorrelations/.
The Executive Board
Contact:
Martin Möllmann
Manager Investor Relations
Tel.: +49 231 930-9330
E-Mail: ir(at)adesso.de
End of Corporate News
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28.08.2013 Dissemination of a Corporate News, transmitted by DGAP - a
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Language: English
Company: adesso AG
Stockholmer Allee 24
44269 Dortmund
Germany
Phone: +49 (0) 231 930-9330
Fax: +49 (0) 231 930-9331
E-mail: ir(at)adesso.de
Internet: www.adesso-group.de
ISIN: DE000A0Z23Q5
WKN: A0Z23Q
Listed: Regulierter Markt in Berlin, Düsseldorf, Frankfurt
(General Standard), Hamburg, Stuttgart
End of News DGAP News-Service
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227767 28.08.2013
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Unternehmensinformation / Kurzprofil:
Datum: 28.08.2013 - 07:30 Uhr
Sprache: Deutsch
News-ID 291495
Anzahl Zeichen: 5966
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