DGAP-News: ATOSS Software AG - Best nine-months result since the company was founded, earnings forecast for 2010 substantially increased
(firmenpresse) - ATOSS Software AG / Key word(s): Quarter Results
25.10.2010 08:37
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ATOSS Software AG - Best nine-months result since the company was founded,
earnings forecast for 2010 substantially increased
Munich, October 25, 2010 - ATOSS Software AG, the specialist in workforce
management, consistently maintains its record performance. While sales in
the first nine months of 2010 at EUR 21.4 million were only slightly higher
than last year, there was a further substantial improvement in earnings
quality. Operating profits (EBIT) were 20% higher at EUR 5.3 million
(previous year EUR 4.4 million). Against the background of stable business
development, the Management Board has raised its forecast for the operating
profit in 2010 to well over EUR 6.0 million (previous year: EUR 5.5
million).
Growth in core software business outpaces the market
In the first nine months of 2010 ATOSS recorded growth of 6% in its
software business, which is some five percentage points more than the level
of growth forecast for the software segment by industry association BITKOM
for 2010. Software sales at 62% (previous year: 58%) account for the major
share of turnover at ATOSS. Software licenses accounted for 23% of sales
(previous year: 21%), while software maintenance contributed 39% (previous
year: 37%) of turnover. Consulting services have earned ATOSS EUR 5.7
million, compared with EUR 6.1 million last year, representing 27%
(previous year: 29%) of total sales.
Further increase in results, sales margin (EBIT) broadened to 25%
ATOSS has again demonstrated its profitability with operating income (EBIT)
up from EUR 4.4 million to EUR 5.3 million. Earnings quality was once again
substantially improved with the margin on sales increased from 21% to 25%.
In recent years the trend has been consistently positive. In financial year
2006 the average margin stood at 13%, rising to 15% in 2007 and 19% in
2008. Earnings before taxes amounted to EUR 5.3 million (previous year: EUR
4.6 million) with a net result of EUR 3.6 million compared with EUR 3.1
million last year. Earnings per share came in at EUR 0.91, up 17% on last
year's figure of EUR 0.78.
Operating cash flow was recorded at EUR 7.0 million (previous year: EUR 7.2
million), reflecting the power of the company's business model to generate
liquidity. Accordingly, there was a further increase in liquid funds, which
stood at EUR 22.0 million as of September 30, 2010 (previous year: EUR 19.2
million), equivalent to EUR 5.55 per share (previous year: EUR 4.85).
New customers successfully acquired in core sectors
In the current financial year ATOSS has succeeded in recruiting more
high-profile customers in the retail sector in particular as well as other
fields. Prominent retail chains such as coop, Hornbach, s. Oliver, famila,
Combi, Eurotrade, Body Shop and Land's End have opted for the ATOSS Retail
Solution. In the health care sector, clinic and health center operators
such as Medical Park have chosen the ATOSS Medical Solution. The company's
continuing success in addressing its core retail and medical sectors will
remain a central priority in business development.
Research&development remains in focus
The deciding factor for new customers and interested parties has been the
significant potential already enjoyed by existing clients across a broad
spectrum to add the kind of value that is inherent in the optimization of
demand driven personnel planning and automated staff scheduling. Moreover,
through highest transparency as well as excellent balance sheet and
earnings ratios, ATOSS generates trust and ensures that its corporate
clients benefit from the investment security they require.
In a highly fragmented market, the ability to stand out from the
competition is an essential criterion in customers' investment decisions. A
high level of expenditure on research&development remains an important
component of the ATOSS growth strategy, with the goal of further extending
the company's strong position as a technology leader in workforce
management. Investments in this area in the first nine months of 2010 were
up 6% over the year before at EUR 4.3 million, equivalent to around 20% of
sales. In the coming years, ATOSS plans to continue its substantial
research&development spending.
On course for a fifth record year in succession
In view of the stable development in business over the past nine months the
management has substantially raised its earnings forecast for financial
year 2010. Having previously indicated a repeat of last year's figure of
EUR 5.5 million, the management now expects an operating result of well
over EUR 6.0 million. ATOSS is on course for its fifth record result in
succession.
Upcoming dates:
15.11.2010 Publication of the 9-monthly financial statements
22.11.2010 Analysts conference / ECF, Frankfurt am Main
For further information: http://www.atoss.com
CONSOLIDATED OVERVIEW : Nine-monthly comparison to September 30
In TEUR (as 01.01.20 Proportion of 01.01.2009 Proportion of Change
per IFRS) 10
- Total sales - Total sales 2010 /
30.09.20 revenues 30.09.20 revenues 2009
10 09
Sales 21,443 100% 21,391 100 % 0 %
Software 13,195 62% 12,440 58 % 6 %
of which 4,831 23% 4,550 21 % 6 %
software
licensing
of which 8,364 39% 7,890 37 % 6 %
software
maintenance
Consulting 5,710 27% 6,136 29 % -7 %
Hardware 1,643 8% 1,575 7 % 4 %
Miscellan- 895 4% 1,240 6 % -28 %
eous
EBITDA 5,606 26% 4,664 22% 20 %
EBIT 5,258 25% 4,388 21 % 20 %
EBT 5,316 25% 4,595 21 % 16 %
Net income 3,616 17% 3,098 14 % 17 %
Cash flow 6,963 32% 7,225 34 % -4 %
Liquidity 21,980 19,182 15 %
(1/2)
S
EPS (in 0.91 0.78 17 %
euro)
Employees 247 232 6 %
(3)
CONSOLIDATED OVERVIEW : Quarterly development
In TEUR (as per IFRS) Q3/10 Q2/10 Q1/10 Q4/09 Q3/09
Sales 7,178 7,118 7,148 7,969 7,233
Software 4,384 4,459 4,352 4,331 4,090
of which software licensing 1,544 1,658 1,628 1,590 1,425
of which software 2,840 2,801 2,724 2,741 2,666
maintenance
Consulting 1,928 1,894 1,889 2,382 1,986
Hardware 502 601 540 726 666
Miscellaneous 364 164 367 257 491
EBITDA 1,928 1,894 1,785 1,239 1,557
EBIT 1,815 1,779 1,663 1,132 1,463
EBIT margin in % 25% 25% 23% 15% 20%
EBT 1,831 1,792 1,693 1,260 1,516
Net income1,243 1,220 1,153 867 1,023
Cash flow 4,250 -403 3,116 386 3,695
Liquidity (1/2) 21,980 17,789 20,249 19,328 19,182
EPS (in euro) 0.31 0.31 0.29 0.22 0.26
Employees (3) 247 242 236 234 232
(1): Cash and marketable securities (2): Dividend of EUR 0.50 per share
paid on May 3, 2010 amounting to TEUR 1,981 (previous year EUR 0.44); (3):
At the end of the quarter
Contact:
ATOSS Software AG
Christof Leiber / Member of the Management Board
Am Moosfeld 3, D-81829 Munich
Tel.: +49 (0) 89 4 27 71 - 0
Fax: +49 (0) 89 4 27 71 - 100
investor.relations(at)atoss.com
25.10.2010 08:37 Dissemination of a Corporate News, transmitted by DGAP -
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Language: English
Company: ATOSS Software AG
Am Moosfeld 3
81829 München
Deutschland
Phone: +49 (0)89 4 27 71-0
Fax: +49 (0)89 4 27 71-100
E-mail: investor.relations(at)atoss.com
Internet: www.atoss.com
ISIN: DE0005104400
WKN: 510440
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Hamburg, München, Düsseldorf, Berlin, Stuttgart
End of Announcement DGAP News-Service
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Datum: 25.10.2010 - 08:37 Uhr
Sprache: Deutsch
News-ID 32400
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