27.04.2018
SNP Schneider-Neureither & Partner SE DE0007203705
DGAP-News: SNP SE Publishes Operating Results for the First Quarter of 2018
DGAP-News: SNP Schneider-Neureither & Partner SE / Key word(s): Quarterly /
Interim Statement
SNP SE Publishes Operating Results for the First Quarter of 2018
27.04.2018 / 08:15
The issuer is solely responsible for the content of this announcement.
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SNP | Corporate News
SNP SE Publishes Operating Results for the First Quarter of 2018
- Group revenue increases by EUR 10.0 million to EUR 31.6 million in the
first three months of 2018
- Quarterly operating result influenced by costumer project delays and
extraordinary one-time expenses
Heidelberg, Germany, April 27, 2018 - After strong growth in the 2017 fiscal
year, SNP SE has started the current fiscal year with revenue growth. In the
first three months of 2018, Group revenue increased from EUR 21.6 million in
the same quarter in the previous year by EUR 10.0 million to EUR 31.6
million. Operating earnings (EBIT; non-IFRS) totaled EUR -2.0 million
(previous year: EUR -2.1 million). The EBIT figure based on IFRS amounted to
EUR -2.6 million (previous year: EUR -2.4 million).
The operating earnings performance was affected by project delays on the
customers' side and an associated delay in processing the order backlog.
This resulted in a lower level of capacity utilization in the field of
Professional Services as well as software license revenue which fell short
of expectations. It should be noted that these projects have not been
canceled. They will either be staggered or implemented over the next few
months and will then have a positive impact on earnings. In addition,
contracts were signed with a U.S. customer for two transformation projects
with a total value of USD 4.5 million; the software licensing allotment is
around USD 1.9 million.
Extraordinary one-time expenses in connection with restructuring measures,
predominantly in the USA, in the amount of EUR 0.3 million,
acquisition-related expenses (amortization of identified intangible assets
acquired through company acquisitions) of EUR 0.4 million and the
earnings-diminishing effect of the changeover to recognizing revenue
according to IFRS 15 in the amount of EUR 0.3 million were other factors
that diminished earnings in the first quarter of 2018.
Dr. Andreas Schneider-Neureither, Chairman of the Board of Directors and CEO
of SNP SE: "Following the significant acquisitions of the last two years,
SNP is focusing on integrating these acquisitions, streamlining structures,
aligning all of these entities with customers' needs and interlocking the
management teams. The goal is to secure sustainable growth and to lay the
foundations for the next stage of the Group's earnings growth. At the same
time, we are also working on the development of our software business. All
of this is consistent with our long-term-oriented strategy. SNP is solidly
positioned, which is one of our great strengths. We will systematically
continue with this strategy."
Revenue Performance
In the first three months of 2018, Group revenue amounted to EUR 31.6
million (previous year: EUR 21.6 million). The initial consolidations of the
acquired companies had a material impact on revenue growth; they accounted
for a total of EUR 9.6 million. This represents a share of approximately 44%
in comparison with the previous year's revenue. Adjusted for this
acquisition effect, organic revenue growth was EUR 0.3 million, or
approximately 2%.
On the segment side, the Professional Services division contributed EUR 25.4
million to revenue in the first three months of the year (previous year: EUR
19.1 million). This corresponds to an overall revenue share of 80.6% and
represents a increase of EUR 6.4 million, or 33.3%, over the previous year.
Revenue of EUR 5.7 million (previous year: EUR 2.5 million) came from the
Software division (incl. maintenance). This represents an increase of EUR
3.2 million, or approximately 126%, over the previous year. In this business
segment, licensing fees have increased by EUR 2.0 million, or approximately
113%, to EUR 3.7 million (previous year: EUR 1.7 million); maintenance fees
have increased disproportionately strongly, by EUR 1.2 million, or
approximately 157% (previous year: EUR 0.8 million).
Order Backlog and Order Entry
Order entry as of March 31, 2018, totaled EUR 40.9 million, approximately
68% above the comparable amount in the previous year (EUR 24.4 million). The
order backlog as of March 31, 2018, was EUR 70.2 million; this corresponds
to an increase of approximately 72% over the previous year's comparable
figure of EUR 40.8 million.
Unchanged Forecast for 2018
As in previous years, it is assumed that, in the current fiscal year,
revenue will not be evenly distributed over the quarters and that the second
half of the year will be much stronger. Overall, the management expects
Group revenue of between EUR 150 million and EUR 155 million in the 2018
fiscal year and an operating earnings margin (EBIT margin) in the
mid-single-digit percentage range.
The extensive interim report on the first quarter of 2018, published today,
can be downloaded from the SNP website at
https://www.snpgroup.com/en/investor-relations/financial-publications/financial-reports/2018/
About SNP
SNP SE supports organizations in adapting their business models and using
new technologies. SNP software and services facilitate the implementation of
business or technical modifications to business applications.
CrystalBridge(R) and SNP Transformation Backbone(R) with SAP Landscape
Transformation are the world's leading software suite for data
transformations that automatically analyzes, implements and tracks changes
to IT systems. As a result, they offer clear qualitative advantages, while
significantly reducing the time and expense involved in transformation
projects. The SNP Group has over 1,350 employees worldwide.
Headquartered in Heidelberg, the company generated revenue of approximately
EUR 122 million in the 2017 fiscal year. SNP's customers are global
corporations from all industries. SNP was founded in 1994 and has been
publicly traded since 2000. As of August 2014, the company is listed on the
Prime Standard segment of the Frankfurt Stock Exchange (ISIN DE0007203705).
Since 2017, the company has operated as a European stock corporation
(Societas Europaea/SE).
Further information is available at www.snpgroup.com
Investor Relations Contact:
Marcel Wiskow
Tel: +49 6221 6425-637
Fax: +49 6221 6425-470
Email: [email protected]
https://www.snpgroup.com/en/investor-relations/
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27.04.2018 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.
The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Archive at www.dgap.de
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Language: English
Company: SNP Schneider-Neureither & Partner SE
Dossenheimer Landstraße 100
69121 Heidelberg
Germany
Phone: +49 6221 6425 637
Fax: +49 6221 6425 470
E-mail: [email protected]
Internet: www.snpgroup.com
ISIN: DE0007203705
WKN: 720370
Listed: Regulated Market in Berlin, Dusseldorf, Frankfurt (Prime
Standard), Hamburg, Hanover, Munich, Stuttgart, Tradegate
Exchange
End of News DGAP News Service
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