SimCorp'sBoard of Directors today reviewed and approved the Group's interim report for the three months ended 31 March 2014. Summary Q1 revenue amounted to EUR 49.6m, an increase this year of 1% measured in EUR and an increase of 4% when measured in local currencies. EBIT for the three-month period was EUR 4.9m, compared with EUR 7.0mthe year-earlier period. Currency exchange rate fluctuations have impacted EBIT negatively by EUR 0.2min the quarter. Net profit for Q1 2014 was EUR 3.6mcompared with EUR 5.0min Q1 2013. SimCorpmaintains its expectations for 2014. Revenue growth measured in local currencies, including the impact of the Equipos Ltd.acquisition is still expected to be 10% and the expectation for EBIT margin measured in reporting and local currencies remains 23.8% and 24% respectively. At 31 March 2014, contracts equalling EUR 175mof the projected 2014 revenue had been secured, EUR 3mmore than at the same point in time last year. Klaus Holse, SimCorpCEO comments: “The sale of new licenses is off to a slower start in 2014 compared to what we saw in 2013. I am pleased that customer demand for professional services continues to be strong, leading to good performance in professional services. We maintain our outlook for 2014 as we see a solid pipeline for the second half of 2014.“ - - - SimCorp’s Board of Directors today reviewed and approved the Group’s interim report for the three months ended 31 March 2014. Highlights of the report are: -- Revenue for the first three months of the year was up 4% y/y in local currency and 1% y/y to EUR 49.6m, including EUR 0.4mof revenue from Equipos Ltd.Page 5 -- The total order intake from new licenses and add-on licenses for the first three months of the year was EUR 2.0m, which was EUR 7.4mless than in the year-earlier period. The order book decreased by EUR 1.9min Q1 to stand at EUR 11.9mat 1 April 2014. Page 4 -- Income recognized from new licenses and add-on licenses was EUR 3.8mfor the first three months, a decrease of 36% compared with the same period of 2013. Page 5 -- Sales and supply of professional services continues at a robust and satisfactory level and was EUR 18.2m, up 9% compared with the same period last year. Page 5 -- Maintenance income was EUR 26.7m, an increase of 4% over Q1 2013. Page 5 -- Total cost for the three months was EUR 44.7m, including EUR 0.8mrelated to Equipos Ltd.of which EUR 0.3mwas non-recurring, an increase of 6.5% compared with the same period last year. Excluding the impact on costs related to Equipos the growth was 4.5%. Page 6 -- EBIT for the first three months of the year showed a profit of EUR 5.1min local currencies and in EUR 4.9m, a decrease of EUR 2.1mcompared with the same period last year, including a negative impact of EUR 0.4mfrom Equipos Ltd.Page 7 -- The Q1 cash flow from operating activities was EUR 18.2mcompared with EUR 16.4min the same period of 2013. Page 8 -- The impact on the full year expectations from the Equipos Ltd.acquisition is maintained at a 2%-points impact on revenue measured in both local currencies and reporting currency and a 0.5%-point negative impact on EBIT margin in both local currencies and reporting currency. Page 8 -- In Q1 SimCorprealised an accounting gain on the existing holding of shares in Equipos Ltd.following the acquisition of the remaining shares per 1 March 2014. The gain was EUR 0.6mwhich is recognized as income under financial items. Page 9 -- SimCorpmaintains its expectations for full-year revenue growth measured in local currencies of 10% and an EBIT margin measured in local currencies of 24%. Based on currency rates end of April 2014 SimCorpalso maintains its expectations for full-year growth in reporting currency of 8.5% and EBIT margin in reporting currency of 23.8%. Page 10 -- At 31 March 2014, contracts equalling EUR 175mof the projected 2014 revenue had been secured, EUR 3mmore than at the same time last year. The Group’s pipeline of potential license contracts supports the expected growth in revenue. Page 10 Investor meeting SimCorp’s Executive Management Board will present this interim report at an investor meeting Friday 23 May 2014at 9:00 a.m.at the company’s headquarters, Weidekampsgade 16, 2300 Copenhagen S. The meeting will be open to the public, and a live webcast of the presentation can be followed via this link, where it will be possible to ask questions online: http://www.media-server.com/m/p/k3x9iw3v. The presentation will be available afterwards via SimCorp’s website www.simcorp.com. Enquiries regarding this announcement should be addressed to: Klaus Holse, Chief Executive Officer, SimCorp A/S(+45 3544 8802, +45 2326 0000) or Thomas Johansen, Chief Financial Officer, SimCorp A/S(+45 3544 6858, +45 2811 3828) Company Announcement no. 28/2014 Copyright © 2014 OMX AB (publ).