24.10.2016 Mensch und Maschine Software SE  DE0006580806

DGAP-News: Mensch und Maschine Software SE discloses nine months report


 
DGAP-News: Mensch und Maschine Software SE / Key word(s): 9-month figures Mensch und Maschine Software SE discloses nine months report 24.10.2016 / 08:35 The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- High profit gain and strong cash flows - Gross margin +9.7% / EBIT +46% / Net profit +79% - Proprietary software/services driving business Wessling, October 24, 2016 - Strong organic growth of proprietary software and services, mainly in the CAM, BIM and PDM areas, and strict cost discipline helped Mensch und Maschine Software SE (MUM - ISIN DE0006580806), a CAD/CAM specialist company, to significantly increase operating and net profit in the first 9 months of 2016. 9M sales amounted to EUR 127.59 mln (PY: 119.30 / +6.9%), with M+M Software contributing EUR 33.45 mln (PY: 29.86 / +12%) and the VAR Business contributing EUR 94.14 mln (PY: 89.44 / +5.3%). Gross margin climbed to a new record EUR 67.83 mln (PY: 61.83 / +9.7%), with contributions of EUR 32.39 mln (PY: 28.46 / +14%) from Software and EUR 35.44 mln (PY: 33.37 / +6.2%) from VAR Business, thereof EUR 19.06 mln (PY: 15.67 / +22%) from M+M service. All in all, gross margin from proprietary software and services grew by 16.6% to EUR 51.45 mln (PY: 44.13), making the decrease of gross margin from Autodesk software to EUR 16.39 mln (PY: 17.69 / -7.3%) due to the transition from licence sale to a rental model more manageable. Operating profit EBITDA before depreciation, amortization, interest and taxes grew to a disproportionate EUR 10.80 mln (PY: 8.92 / +21%), with EUR 7.03 mln (PY: 5.56 / +26%) coming from Software and EUR 3.77 mln (PY: 3.36 / +12%) from the VAR Business. Due to significantly lower PPA amortisation the EBIT rise was even higher: Group EBIT climbed to EUR 8.35 mln (PY: 5.71 / +46%). Net profit after minority shares jumped by 79% to EUR 4.47 mln (PY: 2.49), or 27.4 Cents (PY: 15.5) per share. The net profit calculation is based on an expected 35% tax rate for 2016, while the previous year was restated to the actual 43.3% annual tax rate. The net profit includes negative currency exchange effects on the financial result amounting to EUR -0.25 mln (PY: +0.12). Without this effect net profit would have nearly doubled compared to 9M/2015. Operating cash flows were EUR 11.79 mln, a remarkable EUR 7.32 mln above net profit. The previous year's EUR 14.96 mln included the final instalment amounting to EUR 3 mln from the 2011 sale of the Distribution business. Purely operating, cash flows stayed on the strong previous year's level. The very strong development of M+M's proprietary business so far could well compensate the negative impact starting in Q2 by Autodesk's transition from license sale to rental: after 9 months EBITDA is nearly EUR 1.9 mln above previous year. Thus a full year EUR 2.7-3.2 mln surplus seems to be achievable, resulting in a EUR 15.5-16.0 mln (PY: 12.8 / +21-25%) EBITDA 2016 target. Depending on the further development of currency exchange effects and the actual tax rate, net profit after minority shares should come in at EUR 6.8-7.4 mln (PY: 3.87 / +75-90%) and EPS at 42-46 Cents (PY: 24). Very high free cash flows (57 Cents per share after 9 months) make it more likely to reach the upper limit of the 30-35 Cents (PY: 25) dividend target range. M+M CEO Adi Drotleff is not only optimistic for M+M's proprietary business, but also likes the mid-term perspective of the Autodesk transition: 'As the annual rental charges at 30-40% of list prices are significantly higher than the approx. 15% maintenance fees after license sales, we principally appreciate the transition to a rental model, in accordance with the financial market, and expect the Autodesk business to be back to a significant growth contribution by Q4/2017. This means that our mid-term annual growth targets - EBITDA EUR 3-4 mln, EPS 13-20 Cents and at least 10 Cents more dividend - are well underlined.' --------------------------------------------------------------------------- 24.10.2016 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 --------------------------------------------------------------------------- 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: investor-relations@mum.de Internet: www.mum.de ISIN: DE0006580806 WKN: 658 080 Listed: Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich (m:access), Stuttgart, Tradegate Exchange; Open Market (Entry Standard) in Frankfurt End of News DGAP News Service --------------------------------------------------------------------------- 513765 24.10.2016


Die wichtigsten Finanzdaten auf einen Blick
  2012 2013 2014 2015 2016 2017 2018 2019e
Umsatzerlöse1 118,80 125,83 140,02 160,38 167,07 160,85 185,40 234,00
EBITDA1,2 9,97 7,81 10,87 12,81 15,76 18,04 22,75 31,00
EBITDA-Marge3 8,39 6,21 7,76 7,99 9,43 11,22 12,27 13,25
EBIT1,4 6,18 3,81 6,76 8,47 12,49 15,21 19,66 25,90
EBIT-Marge5 5,20 3,03 4,83 5,28 7,48 9,46 10,60 11,07
Jahresüberschuss1 3,62 2,62 4,11 4,27 7,02 8,98 12,47 16,95
Netto-Marge6 3,05 2,08 2,94 2,66 4,20 5,58 6,73 7,24
Cashflow1,7 -5,70 3,78 6,29 14,73 14,65 15,22 15,23 17,80
Ergebnis je Aktie8 0,24 0,16 0,24 0.24 0,40 0,53 0,71 0,94
Dividende8 0,20 0,20 0,20 0,25 0,35 0,50 0,65 0,80
Quelle: boersengefluester.de und Firmenangaben

  Geschäftsbericht 2018 - Kostenfrei herunterladen.  
1 in Mio. Euro; 2 EBITDA = Ergebnis vor Zinsen, Steuern und Abschreibungen; 3 EBITDA in Relation zum Umsatz; 4 EBIT = Ergebnis vor Zinsen und Steuern; 5 EBIT in Relation zum Umsatz; 6 Jahresüberschuss (-fehlbetrag) in Relation zum Umsatz; 7 Cashflow aus der gewöhnlichen Geschäftstätigkeit; 8 in Euro; Quelle: boersengefluester.de

Wirtschaftsprüfer: RSM

INVESTOR-INFORMATIONEN
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Mensch und Maschine
WKN Kurs in € Einschätzung Börsenwert in Mio. €
658080 39,700 Kaufen 680,82
KGV 2020e KGV 10Y-Ø BGFL-Ratio Shiller-KGV
34,22 30,65 1,097 106,85
KBV KCV KUV EV/EBITDA
12,79 44,71 3,67 30,453
Dividende '18 in € Dividende '19e in € Div.-Rendite '18
in %
Hauptversammlung
0,65 0,80 1,64 13.05.2020
Q1-Zahlen Q2-Zahlen Q3-Zahlen Bilanz-PK
27.04.2020 22.07.2019 21.10.2019 16.03.2020
Abstand 60Tage-Linie Abstand 200Tage-Linie Performance YtD Performance 52 Wochen
20,82% 23,41% 56,30% 66,81%
    
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