28.04.2014
Mensch und Maschine Software SE DE0006580806
DGAP-News: Mensch und Maschine Software SE discloses Q1 report
DGAP-News: Mensch und Maschine Software SE / Key word(s): Quarter
Results
Mensch und Maschine Software SE discloses Q1 report
28.04.2014 / 09:07
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Strong start of fiscal year within expectations
- 28% of 2014 EBITDA target achieved
- Ambitious targets for 2014 fully confirmed
Wessling, April 28, 2014 - Mensch und Maschine Software SE (MUM - ISIN
DE0006580806), a CAD/CAM specialist company, started the new fiscal year
2014 strongly, though the exceptionally good Q1/2013 could not be exceeded,
as expected.
Sales amounted to EUR 37.72 mln (PY: 37.45 / +0.7%), with M+M Software
contributing EUR 9.84 mln (PY: 9.16 / +7.4%) and the VAR Business
contributing EUR 27.88 mln (PY: 28.29 / -1.5%). The Software segment
profited from M+M's re-entering into the development of the electrical
engineering software ecscad, while in the VAR Business the previous year's
Q1 had been impacted by a high demand for Autodesk subscriptions before
price increases.
Gross margin climbed to EUR 18.99 mln (PY: 18.21 / +4.3%), with
contributions of EUR 9.22 mln (PY: 8.55 / +7.8%) from Software and EUR 9.78
mln (PY: 9.66 / +1.2%) from VAR Business. Gross yield increased to 50.4%
(PY: 48.6%), driven by a higher proprietary contribution from M+M Software
and Services.
Operating profit EBITDA before depreciation, amortization, interest and
taxes amounting to EUR 2.13 mln (PY: 2.12) for Software came in at the very
high previous year's level, while for the VAR Business it was slightly
lower at EUR 1.07 mln (PY: 1.14). Group EBITDA amounting to EUR 3.20 mln
(PY: 3.25) thus nearly reached the strong previous year's level. With 28%
achievement of the EUR 11.5 mln full year 2014 target, EBITDA is absolutely
on plan.
Net profit after minority shares amounted to EUR 1.46 mln (PY: 1.37), or
9.5 Cents (PY: 9) per share (undiluted). Operating cash flows continued its
positive development, increasing by remarkable 77% to EUR 2.66 mln (PY:
1.50).
Group headcount at March 31, 2014, rose to 717 (PY: 700 / +2.4%). By
segment, the development was quite different: While the VAR Business
further consolidated and decreased headcount by 13 people, M+M is investing
in its strategically important Software development, where 30 new positions
were created during the past 12 months.
M+M CEO Adi Drotleff confirms the ambitious targets for 2014: 'After the
fully on plan start of the year, we expect sales to approach EUR 140 mln
(PY: 125.83). EBITDA is targeted at EUR 11.5 mln (PY: 7.81), net profit at
EUR 5.5 mln (PY: 2.62) or approx. 35 Cents per share (PY: 17).'
End of Corporate News
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28.04.2014 Dissemination of a Corporate News, transmitted by DGAP - a
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The issuer is solely responsible for the content of this announcement.
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Language: English
Company: Mensch und Maschine Software SE
Argelsrieder Feld 5
82234 Wessling
Germany
Phone: +49 (0)815 3933-0
Fax: +49 (0)815 3933-100
E-mail: [email protected]
Internet: www.mum.de
ISIN: DE0006580806
WKN: 658 080
Listed: Freiverkehr in Berlin, Düsseldorf, Hamburg, München
(m:access), Stuttgart; Frankfurt in Open Market (Entry
Standard)
End of News DGAP News-Service
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