Software AG

  • WKN: A2GS40
  • ISIN: DE000A2GS401
  • Land: Germany

Nachricht vom 13.10.2015 | 20:27

Software AG: Preliminary Financial results in the Third Quarter 2015 - Adjustment of Full Year 2015 Outlook


Software AG  / Key word(s): Preliminary Results/Change in Forecast

13.10.2015 20:27

Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.


AD HOC DISCLOSURE ACCORDING TO § 15 WPHG Software AG: Preliminary Financial results in the Third Quarter 2015 - Adjustment of Full Year 2015 Outlook 13.10.2015, Darmstadt (Software AG, SOW - TECDAX) 1. Software AG Announces Preliminary Third Quarter Results: Due to the company's value oriented strategy within the past 12 months and the conscious avoidance of acquisitions because of the current high price levels in the M&A market environment, Software AG's Management Board considers the revenue goals from the Management Incentive Program 2011 (MIP IV) no longer achievable. These revenue goals were planned to be reached within a 5 year period until the end of fiscal year 2015. Therefore, the Management Board has decided to release provisions accrued in the third quarter 2015. Consequently, the company recorded an one-time extraordinary gain in the volume of EUR 15.4 million. Software AG has further developed its future-oriented sales and distribution organization. In this context the third quarter 2015 earnings are burdened by expenses in an amount of approximately EUR 8 million. Earnings before Interest and Tax (EBIT pursuant to IFRS) rise after the extraordinary effects by 34 to 36 percent to EUR 66 to 67 million (PY: EUR 49.1 million). Preliminary Key Figures for Q3 2015 (IFRS, unaudited)

in EUR millions                         Q3/2015      Q3/2014   ∆ in %
                                                               rounded
Total Revenue                           215.9        205.6     +5%

Product Revenue                         169.9        157.8     +8%

Maintenance revenue                     101.0        93.6      +8%

License revenue                         68.9         64.2      +7%

Adabas & Natural                        66.9         61.3      +9%

A&N maintenance                         39.2         39.3      +0%

A&N license                             27.5         21.9      +25%

Digital Business Platform               103.2        96.6      +7%

DBP maintenance                         61.8         54.4      +14%

DBP license                             41.4         42.2      -2%

Consulting                              45.8         47.7      -4%

EBIT*                                   66 to 67     49.1      +34 to +36%

Operating income (EBITA, non-IFRS)**    approx. 70   62.8      approx. +11%

as % of total revenue                   >32%         30.5%     +1.5 PP

* = Consolidated net income + income tax + other tax + financial result ** = EBITA adjusted for reduction of acquisition-related product revenue by purchase price allocation, other acquisition effects, share-based payment, restructuring/severance payments and operating income of divested units 2. Full Year 2015 Outlook The Management Board of Software AG has adjusted the Full Year 2015 Outlook as follows: Due to the business development of the first nine months and based on the projected pipeline of the fourth quarter, Software AG updated its forecast for fiscal 2015. The company now expects a revenue increase for the Digtial Business Platform between 0 and 3 percent (before: 6 to 12 percent) and a decrease for Adabas & Natural by only 4 to 6 percent (before: 8 to 14 percent) to previous year's level at constant exchange rates. At the same time, Software AG raised the outlook for its operating profit margin (EBITA non-IFRS) by 50 basis points to between 28.0 and 29.0 percent (before: 27.5 to 28.5 percent). Software AG will publish further information regarding the preliminary Third Quarter 2015 Results in a press release. The Third Quarter 2015 Financial Results and the Financial Results for the first nine calendar months 2015 will be published by Software AG on October 28, 2015. 13.10.2015 The DGAP 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: Software AG Uhlandstraße 12 64297 Darmstadt Germany Phone: +49 (0)6151 92-1900 Fax: +49 (0)6151 92-34 1899 E-mail: Investor.Relations@softwareag.com Internet: www.softwareag.com ISIN: DE0003304002 WKN: 330400 Indices: TecDAX Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart End of Announcement DGAP News-Service

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