30.08.2016
USU Software AG DE000A0BVU28
DGAP-News: USU Software AG: USU Software AG confirms revenue and earnings guidance for 2016 after strong business performance
DGAP-News: USU Software AG / Key word(s): Half Year Results
USU Software AG: USU Software AG confirms revenue and earnings guidance for
2016 after strong business performance
30.08.2016 / 09:00
The issuer is solely responsible for the content of this announcement.
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- Figures for the first half of 2016 fully on track
- Revenue and earnings guidance confirmed
- Revenue growth of 7.7% in Q2 2016 compared with the previous year
- Adjusted EBIT up 7.9% year-on-year in Q2 2016
Möglingen, August 30, 2016 - USU Software AG (ISIN DE000A0BVU28) lifted its
revenue (IFRS) by 13.7% year-on-year to EUR 34,031 thousand in the first
six months of the 2016 fiscal year (Q1-Q2 2015: EUR 29,925 thousand). All
of USU AG's business segments and the subsidiaries of the Group
(hereinafter referred to as "USU" or the "USU Group") contributed to this
result in equal measure. The Product Business and Service Business segments
each expanded by 14%. USU's license revenue rose by 3.4% year-on-year in
the first half of 2016 to EUR 5,428 thousand (Q1-Q2 2015: EUR 5,251
thousand). Maintenance business including SaaS revenue contributed a total
of EUR 9,376 thousand (Q1-Q2 2015: EUR 7,657 thousand) to consolidated
revenue, an increase of 22.4% compared with the previous year. The USU
Group's revenue generated outside Germany receded slightly by 4.7% in the
reporting period to EUR 9,447 thousand (Q1-Q2 2015: EUR 9,909 thousand)
because several larger orders were postponed until the third quarter. The
share of consolidated revenue generated outside Germany accordingly fell to
27.8% from 33.1% in the first two quarters of the previous year.
In the first six months of 2016, the significant expansion of revenue
combined with a comparably moderate increase in costs raised the USU
Group's earnings before interest, taxes, depreciation and amortization
(EBITDA) by 10.0% against the prior-year period to EUR 3,895 thousand (Q1-
Q2 2015: EUR 3,541 thousand). After deducting depreciation and amortization
of EUR 1,301 thousand (Q1-Q2 2015: EUR 1,083 thousand), USU reported a 5.6%
increase in earnings before interest and taxes (EBIT) in the same period to
EUR 2,594 thousand (Q1-Q2 2015: EUR 2,458 thousand). After tax expense of
EUR 292 thousand (Q1-Q2 2015: EUR 300 thousand) is deducted, consolidated
net profit (IFRS) in the first half of 2016 amounted to EUR 2,258 thousand
(Q1-Q2 2015: EUR 2,373 thousand). This represents a slight decrease of 5.1%
on the profit for the prior-year period. Earnings per share thus declined
from EUR 0.23 in the previous year to EUR 0.21 in the reporting period.
USU lifted its earnings before interest and taxes adjusted for
extraordinary effects relating to acquisitions (adjusted EBIT) in the first
six months of 2016 by 15.0% year-on-year to EUR 3,328 thousand (Q1-Q2 2015:
EUR 2,894 thousand). At the same time, USU expanded its adjusted
consolidated net profit by 7.2% compared with the first half of 2015 to EUR
2,970 thousand (Q1-Q2 2015: EUR 2,771 thousand). USU's adjusted earnings
per share accordingly increased from EUR 0.26 in the previous year to EUR
0.28 in the reporting period.
Broken down by segment, the Product Business contributed a total of EUR
26,576 thousand (Q1-Q2 2015: EUR 23,318 thousand) to consolidated revenue
in the first six months, 14.0% more than in the previous year. Here, USU
benefited in particular from the substantial expansion of its consulting
and maintenance business, which includes the SaaS revenue. The Service
Business segment also recorded strong growth, boosting its revenue by 14.3%
to EUR 7,334 thousand (Q1-Q2 2015: EUR 6,416 thousand). As a result, the
share of consolidated revenue attributable to the product segment remained
virtually constant in the reporting period at 78.1% (Q1-Q2 2015: 77.9%).
A look at business performance in the second quarter of 2016 shows that the
USU Group succeeded in continuing the positive trend seen in preceding
quarters. With consolidated revenue of EUR 17,074 thousand (Q2 2015: EUR
15,856 thousand), the company in conjunction with its subsidiaries
generated organic revenue growth of 7.7% compared with the same quarter of
the previous year. This was chiefly due to the strong consulting business,
which benefited from a high level of orders on hand and improved capacity
utilization.
Earnings before interest, taxes, depreciation and amortization (EBITDA) was
almost on a level with the previous year at EUR 2,242 thousand (Q2 2015:
EUR 2,253 thousand). On account of a positive extraordinary effect in the
previous year, earnings before interest and taxes (EBIT) declined from EUR
1,715 thousand in the second quarter of 2015 to EUR 1,585 thousand, a
decrease of 7.6%. At EUR 1,376 thousand, the USU Group's consolidated net
profit (IFRS) was down 4.7% on the prior-year figure (Q2 2015: EUR 1,444
thousand). This gives earnings per share of EUR 0.13 (Q2 2015: EUR 0.14).
Adjusted earnings before interest and taxes (adjusted EBIT) developed
encouragingly, rising by 7.9% in the second quarter of 2016 to EUR 1,960
thousand (Q2 2015: EUR 1,817 thousand). Adjusted consolidated net profit
came to EUR 1,740 thousand (Q2 2015: EUR 1,546 thousand), which corresponds
to growth of 12.5% compared with the year-earlier period. Adjusted earnings
per share remained flat at EUR 0.14.
In spite of the dividend payment of EUR 3,683 thousand and within the scope
of increasing consolidated net profit, the Group's liquidity as of June 30,
2016 was only marginally lower at EUR 21,840 thousand (December 31, 2015:
EUR 23,109 thousand). Based on total assets of EUR 87,082 thousand
(December 31, 2015: EUR 89,186 thousand), the equity ratio was 68.2% as of
June 30, 2016 (December 31, 2015: 68.2%). This puts the USU Group on a
sound financial footing, as before.
On the back of the positive business performance in the first half of 2016,
the Management Board is confirming the guidance for the USU Group of an
increase in revenue to EUR 71-75 million for the current fiscal year (2015:
EUR 66.1 million) together with a strong rise in adjusted EBITDA, a key
earnings ratio, to between EUR 9 and EUR 10.5 million (2015: EUR 8.79
million). Moreover, by the end of 2017, revenue is expected to increase to
over EUR 100 million, including around EUR 15 million in growth through
acquisitions, with further expansion in the operating margin on the basis
of adjusted EBIT.
This press release is available at http://www.usu.de
USU Software AG
The USU Group is Europe's largest provider of IT and knowledge management
software. Market leaders from all sectors of the global economy use USU
applications to create transparency, be more agile and reduce both their
costs and risks. USU Software AG (ISIN DE 000A0BVU28), listed in the Prime
Standard of the German stock exchange, incorporates USU AG - established in
1977 - as well as Aspera GmbH, Aspera Technologies Inc., BIG Social Media
GmbH, LeuTek GmbH, and OMEGA Software GmbH.
The IT Management division supports companies with extensive ITIL(R)-
compatible solutions for strategic and operational IT and enterprise
service management. With USU solutions, customers gain an overall view of
their IT processes and IT infrastructure and are able to transparently
plan, allocate, monitor, and actively manage IT services. USU is one of the
world's leading providers in the software license management sector.
With intelligent solutions and expertise in digital interaction, USU is a
prime mover in the digitization of business processes. Standard software
and consulting services help to automate service processes and actively
provide knowledge for all communication channels and customer contact
points in sales, marketing, and customer service. USU's range in this field
is rounded off by system integration, individual applications and software
for industrial big data.
Further information: www.usu-software.de
Contact:
USU Software AG
Corporate Communications
Dr. Thomas Gerick
Tel.: +49 (0) 71 41 / 48 67 440
Fax: +49 (0) 71 41 / 48 67 108
E-mail: [email protected]
USU Software AG
Investor Relations
Falk Sorge
Tel.: +49 (0) 71 41 / 48 67 351
Fax: +49 (0) 71 41 / 48 67 108
E-mail: [email protected]
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30.08.2016 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: USU Software AG
Spitalhof
71696 Möglingen
Germany
Phone: +49 (0)7141 4867-0
Fax: +49 (0)7141 4867-200
E-mail: [email protected]
Internet: www.usu-software.de
ISIN: DE000A0BVU28
WKN: A0BVU2
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated
Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich,
Stuttgart, Tradegate Exchange
End of News DGAP News Service
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