DGAP-News: OpenLimit Holding AG: Significant revenue increase in comparison to the previous year and cash flow positive for the first time
(firmenpresse) - OpenLimit Holding AG / Half Year Results
26.08.2010 16:53
Dissemination of a Corporate News, transmitted by
DGAP - a company of EquityStory AG.
The issuer / publisher is solely responsible for the content of this announcement.
---------------------------------------------------------------------------
OpenLimit Holding AG: Significant revenue increase in comparison to the
previous year and cash flow positive for the first time
Baar, August 26, 2010 - OpenLimit published half year report yesterday.
Thanks to growing market demand, OpenLimit managed to lift revenues to CHF
2.08 m for the 1st half of 2010, an increase of 49% compared to the same
period last year. Accounting for capitalization of internally produced
software assets, total income increased to CHF 3.74 m compared to CHF 2.75
m for the first six months in 2009. In order to support the implementation
process of new projects acquired, OpenLimit continued to invest in its
resources, particularly in the form of additional staff, and incurred
higher expenses in relation to external service providers. Two large-scale
projects, each with a seven-digit EUR contract volume, will generate
predictable revenues for the next four and five years, respectively. To
execute these projects and to support the joint development effort with
Fujitsu for the SecDocs product, OpenLimit invested heavily in its software
development capacities. Operating expenses including amortization of
intangible assets therefore rose as expected from CHF 4.00 m in the first
half of 2009 to CHF 5.84 m in the current period. As a result, OpenLimit
reports earnings before interest and tax (EBIT) of CHF -2.10 m compared to
CHF -1.25 m for the same period in the previous year. Due to the
unexpectedly strong weakening of the Euro, OpenLimit's income statement,
which is reported in Swiss francs, shows a foreign exchange loss of over
CHF 0.61 m. Consequently, OpenLimit incurred a net loss of CHF -2.73 m
(compared with 1st half year 2009: CHF -1.15 million). Openlimit
historically booked most of its revenues for the year in the 4th quarter.
This development is therefore not unexpected.
Particularly satisfying is the fact that for the first time OpenLimit
reports positive free cash flow of CHF 0.32 m. Hence, the liquidity
situation has also markedly improved. OpenLimit currently possesses CHF
2.48 m in liquid assets and has increased short-term assets by 27% to CHF
6.07 m. Our current financial situation should therefore allow us to grow
out of our own resources.
Already in the first quarter OpenLimit was able to realize noteworthy
projects. On 8 February 2010 OpenLimit received an order for a large-scale
public administration from Fujitsu Technology Solutions. In the project,
which will run over a five-year period, the administration body's entire
portfolio of files will be digitized and subsequently electronically signed
using OpenLimit server technologies. Furthermore on 5 March 2010 Fujitsu
and OpenLimit received the BSI-Certification-ID for SecDocs, a jointly
developed long-term archiving solution. SecDocs is going to be prepared for
global commercialization and should become available in a certified version
during the 4th quarter. This is also a key milestone for OpenLimit. The
project 'AusweisApp', the application software for the new personal
identity card in Germany has also made significant progress. With now more
than two hundred institutions participating in the application test scheme,
Openlimit's technologies are scrutinized and tested by major companies and
public authorities in dozens of application scenarios.
At the end of the first half of 2010, OpenLimit is able to confirm its
guidance for the full year. We are targeting a 30% increase in revenues in
comparison to last year's results. We also aim for a positive result,
subject to any further unfavorable foreign exchange movements, i.e. a
continued strengthening of the Swiss franc in comparison to the Euro, the
relevant currency for most of our revenues and costs.
In conclusion we are satisfied with the results achieved so far this year
and take further confidence from the positive development of the market
environment. The many signs of growing trust in OpenLimit's ability to
successfully handle major projects for our partners puts us in a position
to look optimistically into the future and is reflected in the size and
nature of upcoming projects.
About OpenLimit
OpenLimit Holding AG is an internationally leading provider of certified
software solutions for electronic signatures and identities. Our software
components can easily be integrated into existing applications, enabling a
highly efficient management of electronic documents, media-consistent
workflows and process optimisation in all business sectors. OpenLimit holds
the very first certification recognising world-wide compliance with
international security standard, Common Criteria EAL 4+, guaranteeing the
highest degree of security and legal validity currently achievable.
Additional information is available under: http://www.openlimit.com/en
Legal Disclaimer
The content of this announcement is for informational purposes only and
does not represent an investment recommendation, a solicitation to a
private placement or an offer to purchase or sell stock or any other
financial instrument of the Company. OpenLimit Holding AG shall assume no
liability for losses occurred directly or indirectly as a result of
providing this information. This, in particular, applies to potential
losses incurred with stock of OpenLimit Holding AG.
This announcement contains forward-looking statements. Forward-looking
statements are statements which do not describe actual facts from the past;
they also comprise statements about our assumptions and expectations. Every
statement in this press release which reflects our intentions, assumptions,
expectations or forecasts (together with the assumptions that give rise to
our views) constitutes a forward-looking statement. These statements refer
to plans, estimates and forecasts which are currently available to the
management of OpenLimit Holding AG. Thus forward-looking statements only
refer to the day on which they were made. We shall accept no obligation to
adjust and / or publicize such adjusted statements in the light of new
information or future results.
Christian Fuessinger
OpenLimit Holding AG
Tel: +41 41 560 10 20
Fax: +41 41 560 10 39
E-Mail: ir(at)openlimit.com
26.08.2010 16:53 Ad hoc announcement, Financial News and Press Release distributed by DGAP. Medienarchiv atwww.dgap-medientreff.deandwww.dgap.de---------------------------------------------------------------------------
Language: English
Company: OpenLimit Holding AG
Zugerstrasse 76 b
6341 Baar
Schweiz
Phone: +41 41-560-1020
Fax: +41 41-560-1039
E-mail: investor(at)openlimit.com
Internet: www.openlimit.com
ISIN: CH0022237009
WKN: A0F5UQ
Listed: Regulierter Markt in Frankfurt (General Standard);
Freiverkehr in München, Berlin, Stuttgart
End of News DGAP News-Service
---------------------------------------------------------------------------
Datum: 26.08.2010 - 16:53 Uhr
Sprache: Deutsch
News-ID 32086
Anzahl Zeichen: 0
contact information:
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 264 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"DGAP-News: OpenLimit Holding AG: Significant revenue increase in comparison to the previous year and cash flow positive for the first time"
steht unter der journalistisch-redaktionellen Verantwortung von
OpenLimit Holding AG (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
