03.04.2018
adesso AG DE000A0Z23Q5
DGAP-News: With the presentation of its 2017 consolidated financial statements, adesso outperforms the adjusted forecast / Increase in sales to EUR 321.6 million and in EBITDA to EUR 25.4 million sets new records / Increase in dividend to EUR 0.40 per sha
DGAP-News: adesso AG / Key word(s): Final Results/Forecast
With the presentation of its 2017 consolidated financial statements, adesso
outperforms the adjusted forecast / Increase in sales to EUR 321.6 million
and in EBITDA to EUR 25.4 million sets new records / Increase in dividend to
EUR 0.40 per share proposed / Positive outlook for 2018
03.04.2018 / 07:30
The issuer is solely responsible for the content of this announcement.
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With the presentation of its 2017 consolidated financial statements, adesso
outperforms the adjusted forecast / Increase in sales to EUR 321.6 million
and in EBITDA to EUR 25.4 million sets new records / Increase in dividend to
EUR 0.40 per share proposed / Positive outlook for 2018
After a good fourth quarter with new records in sales (EUR 88.1 million) and
EBITDA (EUR 9.0 million), adesso AG ended 2017 on a positive note after a
weak performance during the first half of the year. In the 20th anniversary
year of adesso, organic growth was 19 % and underlines the strengths in
innovation and growth. For the fifth year in a row, the Executive Board and
the Supervisory Board proposed to increase the dividend to EUR 0.40 per
share (+ 11 %) at the Annual Shareholders' Meeting. With the continuation of
the ambitious growth strategy and higher investments in the development of
new products, 2018 is set to see both sales and EBITDA increase by at least
9 % respectively.
With three working days fewer than in the previous year, adesso was again
able to achieve organic sales growth of 19 %. The growth was achieved in
particular in Germany through the acquisition of new customers, the
expansion of existing customer relationships and the hiring of additional
employees. All major core industries were able to boost their sales, with
the highest growth in absolute terms recorded in the Banking division and
highest growth in relative terms recorded in the Automotive division. In
connection with the takeover of UnitCon GmbH, sales revenues increased by 23
% to EUR 321.6 million and the number of employees at the end of the year
rose by 25 % to 2,712.
In March 2018, a renowned institute named adesso Germany's best employer in
the top size category in the IT industry. Despite the high level of
competition for talented and experienced employees, we were able to hire
more new employees than ever before. In the first half of 2017, earnings
were weighed down too much by high investments in growth, through the
expansion of and increased number of locations, expenses related to employer
branding and recruitment activities, as well as business development and the
rapid development of a trainee programme. This was effectively counteracted
in the second half of the year with a stronger focus on billable customer
hours. After recording EBITDA of EUR 7.6 million in the first half of the
year, EUR 17.8 million was generated in the second half, which is
comparatively stronger due to seasonal effects.
Sales revenues rose in all international companies: Austria and Turkey were
able to generate operating profit, unlike in the previous year. The
development of the cross-sector in|sure product family for insurance
companies continues to be positive. The additional sector solutions for
private health insurance and property insurance were completed on time. New
orders were received for the first time in each segment. In total, the
operating result (EBITDA) rose by 8 % to a new record of EUR 25.4 million.
Depreciation and amortisation increased disproportionately by 29 % to EUR
8.2 million in comparison with sales owing to investments in equipment for
the new and expanded offices and the depreciation and amortisation from
purchase price allocations from the UnitCon acquisition. Income from
investments was reduced by half to EUR 0.2 million due to the investment in
the startup soccerwatch.tv. With an arithmetical tax rate of 32 %,
consolidated profit totalled EUR 11.3 million (previous year, particularly
positively influenced by tax effects: EUR 12.6 million) and earnings per
share was EUR 1.79. Liquid assets came to EUR 46.5 million as of the
reporting date (previous year: EUR 43.1 million). Net liquidity (liquidity
less financial liabilities) increased by EUR 5.3 million to EUR 0.3 million.
For 2018, adesso projects an increase in sales revenues of at least 9 % to
over EUR 350 million. The market environment, the continuation of the key
customer relationships and order intake are expected to be positive. The
pipeline is promising for the "Life", "Health" and "Property" sectors of the
in|sure product family. The purchase and integration of the FABIS commission
settlement software provides further impetus. At the same time, investments
in the development of new, additional cross-sectional and specialist
components will be significantly increased in 2018. The same applies to
FirstSpirit. Through the continuation of growth and a stronger focus on
billable customer hours, we still expect the operating earnings (EBITDA) to
grow by at least 9 % to over EUR 27.7 million. With the opening of offices
in other European cities, the time has come to cautiously and deliberately
set up further subsidiaries. The current M&A strategy will continue to be
pursued in 2018.
The annual report and tables comparing key performance figures over previous
reporting periods, are available at www.adesso-group.de in the Investor
Relations section.
adesso Group
With over 2,700 employees and annual sales of EUR 321.6 million in 2017,
adesso Group is one of the largest German IT service providers and has
outstanding opportunities for growth. At its own locations in Germany,
Austria, Switzerland, Turkey, USA and the UK as well as at numerous customer
sites, adesso offers consulting and software development services for
optimising core business processes. adesso also offers ready-to-use software
products for standard applications. The development of an own,
industry-specific product-portfolio opens up additional growth and earnings
opportunities and is another key element of the adesso strategy. 2016 and
2018, adesso was awarded as the best employer in the german IT-sector.
Contact:
Martin Möllmann
Manager Investor Relations
Tel.: +49 231 7000-7000
E-Mail: [email protected]
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03.04.2018 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
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Financial/Corporate News and Press Releases.
Archive at www.dgap.de
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Language: English
Company: adesso AG
Stockholmer Allee 20
44269 Dortmund
Germany
Phone: +49 231 7000-7000
Fax: +49 231 7000-1000
E-mail: [email protected]
Internet: www.adesso-group.de
ISIN: DE000A0Z23Q5
WKN: A0Z23Q
Listed: Regulated Market in Frankfurt (General Standard);
Regulated Unofficial Market in Berlin, Dusseldorf,
Hamburg, Stuttgart, Tradegate Exchange; London
End of News DGAP News Service
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670677 03.04.2018
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