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DGAP-News: USU Software AG Reports Sales and Earnings Increase - International Sales Greater than 20% of Total Sales

May 22, 2014

DGAP-News: USU Software AG / Key word(s): Quarter Results/Development of Sales USU Software AG Reports Sales and Earnings Increase - International Sales Greater than 20% of Total Sales 22.05.2014 / 10:00 --------------------------------------------------------------------- * Organic sales growth in line with planning * International sales reach 20% of total sales * Above-average increase in license income * Product business grows by double digits - service business also expands * Profitability is increased significantly * Group liquidity remains high * Confirmation of sales and earnings forecast MÖglingen, May 22, 2014 - USU Software AG (ISIN DE000A0BVU28) had a successful start to the first quarter of fiscal 2014 with an organic growth in consolidated sales according to IFRS of 7.9% to EUR 13,314 thousand (Q1 2013: EUR 12,343 thousand). The sales growth recorded by the company and its Group subsidiaries (hereafter referred to as "USU" or "USU Group") resulted especially from strong international business, to which the subsidiary Aspera Technologies Inc. in the USA made a particular contribution alongside the partner CA Technologies. USU increased its international sales by 59.0% compared to the first quarter of the previous year to EUR 2,764 thousand (Q1 2013: EUR 1,738 thousand) and thus expanded the share of sales generated outside Germany in consolidated sales to 20.8% (Q1 2013: 14.1%). The share of the USU Group's total sales generated outside Germany therefore exceeded 20% for the first time in a first quarter in the Company's history. In the quarter under review, USU also profited from the sale of new product innovations. Accordingly, the USU Group increased its license income by a considerable 15.3% to EUR 1,892 thousand (Q1 2013: EUR 1,641 thousand). Consulting sales also increased by a disproportionately high 11.6% year on year to EUR 8,143 thousand (Q1 2013: EUR 7,295 thousand), while maintenance business grew 3.5% to EUR 3,099 thousand (Q1 2013: EUR 2,995 thousand). Other income amounted to EUR 180 thousand in the first three months of the current fiscal year (Q1 2013: EUR 412 thousand) and primarily related to merchandise sales of third-party hardware and software. In the first quarter of 2014, the USU Group generated consolidated sales of EUR 9,766 thousand (Q1 2013: EUR 8,879 thousand) with the Product Business segment, which equates to a year-on-year increase in sales of 10.0%. Consulting sales in the Service Business segment also increased slightly by 1.4% to EUR 3,496 thousand year on year due to the successful generation of several customer projects (Q1 2013: EUR 3,448 thousand). Sales not allocated to the segments totaled EUR 52 thousand in the months from January to March 2014 (Q1 2013: EUR 16 thousand). In the first quarter of 2014, the operating cost base increased by 3.5% year on year to EUR 12,979 thousand (Q1 2013: EUR 12,536 thousand). This increase primarily reflects the targeted expansion of the Group's workforce to 454 (Q1 2013: 412) employees compared to the first quarter of 2013. In the wake of the sales increase, the USU Group increased the profitability of the Group as a whole disproportionately in the quarter under review. For example, USU increased earnings before interest and taxes adjusted for extraordinary effects due to acquisitions (adjusted EBIT) to EUR 473 thousand (Q1 2013: EUR 22 thousand) as anticipated. Unadjusted earnings before interest and taxes (EBIT) totaled EUR 97 thousand (Q1 2013: EUR -348 thousand). At the same time, the USU Group improved its earnings before interest, taxes, depreciation and amortization (EBITDA) from EUR 2 thousand in the first quarter of 2013 to EUR 642 thousand at present. After taxes, the USU Group's earnings amounted to EUR -82 thousand in the first quarter of 2014 (Q1 2013: EUR -434 thousand), equivalent to earnings per share of EUR -0.01 (Q1 2013: EUR -0.04). USU again significantly increased Group liquidity in the form of cash and cash equivalents in the first quarter of the current fiscal year to a total of EUR 17,829 thousand (December 31, 2013: EUR 14,231 thousand). At the same time, the equity of USU Software AG and its subsidiaries at EUR 53,195 thousand as of the end of the period under review remained close to constant compared with December 31, 2013 (EUR 53,232 thousand). With total assets of EUR 83,670 thousand (December 31, 2013: EUR 81,414 thousand), the equity ratio was 63.6% as of March 31, 2014 (December 31, 2013: 65.4%). The USU Group therefore still has extremely solid financing, enabling it when needed to make prompt investments in organic and inorganic portfolio growth in future. After the positive start to fiscal 2014, the Management Board confirms the planning for the USU Group, which anticipates an increase in sales to EUR 63 - 65 million (2013: EUR 55.7 million) for the year as a whole, corresponding to organic sales growth of over 13% year on year. In addition to the domestic business growth, the Management Board expects significant growth potential in the international business in particular. Accordingly, adjusted EBIT is expected to rise to EUR 8 - 8.5 million (2013: EUR 5.1 million) throughout the Group. At the same time, the Management Board confirms the medium-term planning, which predicts that the EUR 100 million sales threshold will be exceeded by 2017 and that the adjusted EBIT margin will rise to over 15%. Based on this forecast, the Management Board plans - both in 2014 and beyond - to allow the shareholders of USU Software AG to participate significantly in the Company's operating success again and thus to continue the shareholder-friendly dividend policy of the past years. For fiscal 2013, the Management Board and Supervisory Board have proposed a profit distribution of EUR 0.25 per share to the Annual General Meeting of USU Software AG, to be held on June 24, 2014, in Ludwigsburg. USU Software AGThe USU Group is the largest provider in Europe for IT and knowledge management software. Market leaders from all sectors of the international economy use USU applications to create transparency, enhance agility, save costs and reduce their risks. In addition to USU AG, founded in 1977, USU Software AG - which is listed in the Prime Standard of the German Stock Exchange and in the GEX (ISIN DE000A0BVU28) - also includes the subsidiaries Aspera GmbH, LeuTek GmbH, OMEGA Software GmbH, USU Consulting GmbH and BIG Social Media GmbH. Contact: USU Software AG Corporate Communications Dr. Thomas Gerick Tel.: +49 (0) 71 41 - 48 67 440 Fax: +49 (0) 71 41 - 48 67 909 E-Mail: t.gerick@usu-software.deUSU Software AG Investor Relations Falk Sorge Spitalhof D-71696 MÖglingen Tel.: +49 (0) 71 41 - 48 67 351 Fax: +49 (0) 71 41 - 48 67 108 E-Mail: f.sorge@usu-software.de End of Corporate News --------------------------------------------------------------------- 22.05.2014 Dissemination of a Corporate News, transmitted by DGAP - a company of EQS Group AG. The issuer is solely responsible for the content of this announcement. DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------- Language: English Company: USU Software AG Spitalhof 71696 MÖglingen Germany Phone: +49 (0)7141 4867-0 Fax: +49 (0)7141 4867-200 E-mail: info@usu-software.de Internet: www.usu-software.de ISIN: DE000A0BVU28 WKN: A0BVU2 Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, DÜsseldorf, Hamburg, MÜnchen, Stuttgart End of News DGAP News-Service --------------------------------------------------------------------- 269959 22.05.2014


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