DGAP-News: Mensch und Maschine Software SE: Final 2010 figures better than preliminary disclosure
(firmenpresse) - DGAP-News: Mensch und Maschine Software SE / Key word(s): Final
Results
Mensch und Maschine Software SE: Final 2010 figures better than
preliminary disclosure
21.03.2011 / 07:56
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- Sales growth nearly 20% / EBITDA over EUR 6 Million
- Targets 2011: Sales +10-15% / EBITDA approx. +50%
Wessling, March 21, 2011 - Mensch und Maschine Software SE (MUM - ISIN
DE0006580806), a CAD/CAM specialist company, today holds the annual
accounts press conference, disclosing final 2010 figures, which are better
on all levels than those preliminarily released on February 1. Sales came
in at EUR 195.56 mln (PY: 163.33 / +19.7%), with the closing quarter
contributing EUR 53.49 mln (PY: 42.10 / +27%). Operating earnings EBITDA
reached EUR 6.06 mln (PY: 1.38 / +340% / preliminary 5.8), with Q4's EUR
2.54 mln (PY: -0.20) being nearly 3 million higher than 2009. The operating
margin rose to 3.1% (PY: 0.8% / preliminary 3.0%).
Software sales amounted to EUR 26.05 mln (PY: 21.80 / +19.5%), with segment
EBITDA increasing to EUR 2.82 mln (PY: 1.54 / +83%). Distribution sales
amounted to EUR 112.26 mln (PY: 106.25 / +5.7%), with strong EUR 3.77 mln
(PY: 0.86) segment EBITDA. VAR segment sales climbed to EUR 57.25 mln (PY:
35.27 / +62%), with EBITDA still slightly negative at EUR -0.54 mln (PY:
-1.01) due to ramp up. The operating margins improved to 10.8% (PY: 7.0%)
for Software, 3.4% (PY: 0.8%) for Distribution, and -0.9% (PY: -2.9%) for
the VAR business, where the operating break-even was reached in the closing
quarter.
Depreciation and amortization decreased, due to the absence of impairments,
to EUR 3.31 mln (PY: 3.92 / preliminary 3.5). Financial expenses amounting
to EUR 0.75 mln (PY: 1.55) were significantly lower than the preliminary
EUR 1.2 mln, as opposed to the EUR 2.32 mln (PY: 0.66) tax load, which was
much higher than the preliminary EUR 1.7 mln, due to the fact that the
group profit in 2010 was mainly contributed by subsidiaries, having no tax
loss carryovers. The net result after minority shares was a 'red zero'
amounting to EUR -0.50 mln (preliminary -0.6) or -3 Cents per share,
compared to the high previous year's EUR -4.78 mln or -34 Cents per share
net loss.
The operating cash flows amounting to EUR 3.88 mln (PY: 5.66) represent
more than 25 Cents per share, being much higher than the dividend proposal
at 10 Cents. The balance sheet structure has significantly improved due to
a 15% increase of shareholders' equity to EUR 27.68 mln (PY: 24.22),
leading to a 26.4% (PY: 23.9%) capital ratio.
'After the solid 2010 business we are confident to return to our old 10-15%
p.a. sales growth path and to profit from the margin reserves mainly
existing in the software and VAR segments' M+M CEO Adi Drotleff states.
'For 2011, this results in a sales target of approx. EUR 220 mln, EBITDA
target in the EUR 9 to 11 mln range (4 to 5% margin) and EPS target in the
order of magnitude of 20 to 30 Cents. If we achieve these targets, 20 Cents
divided payment is planned. The targets for 2012 are: Sales approx. EUR 250
mln, EBITDA approx. EUR 15 mln (6% margin) and EPS approx. 50 Cents, which
would be in excess of the old 47 Cents EPS record from 2007. If we achieve
these targets, 30 Cents divided payment is planned.'
End of Corporate News
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Language: English
Company: Mensch und Maschine Software SE
Argelsrieder Feld 5
82234 Wessling
Deutschland
Phone: +49 (0)815 3933-0
Fax: +49 (0)815 3933-100
E-mail: investor-relations(at)mum.de
Internet: www.mum.de
ISIN: DE0006580806
WKN: 658 080
Listed: Freiverkehr in Berlin, Düsseldorf, Hamburg, München
(m:access), Stuttgart; Open Market in Frankfurt
End of News DGAP News-Service
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116188 21.03.2011
Datum: 21.03.2011 - 07:56 Uhr
Sprache: Deutsch
News-ID 33517
Anzahl Zeichen: 0
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Kategorie:
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