DGAP-News: MAGIX AG: Presentation of the preliminary, unaudited figures for the 2009/2010 financial year
(firmenpresse) - MAGIX AG / Key word(s): Final Results/Preliminary Results
17.11.2010 08:30
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* Revenues rise 7% to record level of EUR 37.1 million
* EBIT increase by 83% to EUR 5.6 million
* Revenues expected to rise to between EUR 39.7 and 42.3 million, and EBIT
expected to grow to EUR 6 million in 2010/2011
Berlin, 17 November 2010 - This Wednesday, the Management Board of MAGIX AG
(ISIN DE 0007220782) hosted an in-depth online presentation of the
preliminary, unaudited figures of the financial year 2009/2010. The
presentation also included a first outlook for the financial year
2010/2011, which started on 1 October 2010.
As in the previous years, the fourth quarter brought the largest revenues.
From July to September, MAGIX increased its group revenues by 2% compared
to the previous year to EUR 10.8 million, thus closing the 2009/2010
financial year with record revenues of EUR 37.1 million (previous year: EUR
34.8 million). The shift of revenue streams between the main distribution
channels, retail and online, continues.
Business in the Consumer division where revenues are generated through
stationary and online retailers was quite disappointing, dropping -4% to
EUR 6 million in Q4 or -4% to EUR 18.3 million in 2009/2010 respectively,
while the Portal division grew considerably. Here, goods are sold directly
to end consumers via the group's own website. Revenues in the Portal
division rose by 13% to EUR 4.2 million in Q4, and by 18% to EUR 16.2
million in 2009/2010, whereby losses in the Consumer division were
compensated by far.
Following low demand from business clients last year, sales in the OEM and
Professional divisions rose again. With a jump in revenues by 71% to EUR
1.4 million, the Professional division more or less returned to normal over
the overall year. As the rise already commenced with the release of the
professional audio applications Samplitude and Sequoia towards the end of
the previous year, revenues of the division dropped slightly by -2% to EUR
0.4 million in Q4. OEM revenues also remained more or less unchanged at EUR
0.2 million in Q4. In the financial year 2009/2010 the division grew by 10%
to EUR 1.2 million. Recently, three big-name OEM partners were found with
Toshiba for MAGIX Movie Edit Pro, Hewlett Packard for MAGIX Music Maker and
Logitec for MAGIX Video easy.
While the gross margin had dropped slightly from EUR 9.2 million (87%) in
the previous year to EUR 9.1 million (84%) in Q4, it has risen considerably
during the overall financial year 2009/2010. The growth in revenues from
EUR 34.8 million to EUR 37.1 million was accompanied by a drop in costs of
goods sold from EUR 6.3 million to EUR 5.6 million. Consequently, at EUR
31.5 million (85%) the gross margin was considerably higher than the
previous year's rate of EUR 28.5 million (82%).
Overall there were no major changes to amortization and depreciation or to
the operative costs. In Q4 the operative costs dropped slightly (-5%) to
EUR 5.8 million (previous year: EUR 6.1 million). Over the year they rose
by 2% to EUR 23.1 million (previous year: EUR 22.7 million). The
amortizations and depreciations remained more or less unchanged compared to
the previous year at EUR 3.6 million (Q4: EUR 0.9 million), compared to the
previous year's value of EUR 3.5 million (Q4: EUR 0.9 million).
In addition tothe favorable development of revenues and the gross margin,
the moderate increase of costs also had a positive affect on the result. In
Q4 MAGIX increased its EBIT by 23% to EUR 3 million (previous year: EUR 2.4
million). Thus, the 2009/2010 financial year closed with an EBIT of EUR 5.6
million. Compared to the previous year's figure of EUR 3.1 million, this
constitutes an increase by 83%.
Against the background of the stabilizing economy and based on the
extremely satisfactory development of business in 2009/2010, the Management
Board expects further growth in revenues and results for 2010/2011. In
addition to the Portal division of MAGIX the Management Board sees growth
potential especially in B2B business and a stronger internationalization of
its product portfolio. At EUR 39.7-42.3 million, projected sales are 7-14%
above the just set record of EUR 37.1 million.
In 2010/2011, EBIT are expected to rise moderately to EUR 6 million. At the
same time the Management Board expects startup costs for HR, marketing and
development in order to progress the expansion of B2B business on the one
side and to further internationalize the product portfolio on the other,
thus ensuring a growth rate that exceeds the financial year.
The company will publish its annual report on 31 January, 2011.
Important note:
This publication contains forward-looking statements based on current
expectations, estimates and forecasts made by the Management Board of MAGIX
AG and which are based on information that is available at that time. They
shall not constitute a guarantee for any future performance and results
stated therein. The future development and results of MAGIX depend on many
factors, involve certain risks and uncertainties that are difficult to
predict and are based on assumptions regarding future events that may not
prove to be accurate. MAGIX shall not assume any obligation to update the
forward-looking statements contained in this release.
About MAGIX
MAGIX is an internationally operating provider of software, online services
and digital content for using multimedia products and services for personal
and business communication, and is listed on the Prime Standard of the
German stock exchange. MAGIX offers private and professional users a
technologically demanding and at the same time user-friendly offer range of
products for designing, editing, presenting and archiving digital photos,
videos, music, documents and websites.
According to retail sales figures, MAGIX is the market leader in the field
of multimedia software in Germany and in the most important European
markets, and it is also seen as one of the most successful market
participant in the USA. 15 years of market activity and more than a
thousand awards worldwide are proof of the company's innovative power.
15 years of MAGIX - 15 years of passion for innovation
17.11.2010 Dissemination of a Corporate News, transmitted by DGAP -
a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: MAGIX AG
Friedrichstraße 200
10117 Berlin
Deutschland
Phone: +49 (0)30- 29 39 2-280
Fax: +49 (0)30- 29 39 2-415
E-mail: ir(at)magix.net
Internet: www.magix.com
ISIN: DE0007220782
WKN: 722078
Indices: Prime Software, Prime IG Software
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in München, Düsseldorf, Berlin, Stuttgart
End of Announcement DGAP News-Service
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Datum: 17.11.2010 - 08:30 Uhr
Sprache: Deutsch
News-ID 32645
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