- WKN: A2GS40
- ISIN: DE000A2GS401
- Land: Germany
Nachricht vom 19.01.2016 | 00:59
Software AG: Software AG Closes 2015 with a Record Quarter - Digital Business Platform license revenue up 23 percent in Q4
DGAP-News: Software AG / Key word(s): Final Results/Forecast 2016-01-19 / 00:59 The issuer is solely responsible for the content of this announcement.
* Impact of Go-to-Market transformation drives improvements in all key performance parameters * Strong Adabas & Natural customer retention leads to stable maintenance revenue * Highest Group maintenance revenue in company's history, 10 percent up year-on-year * Digital cloud market gains further relevance * Operating earnings exceed outlook 2015 * Operating margin sets new historic record in Q4 * 2016 Outlook with strong digital business growth [If not stated otherwise, all figures rounded including potential currency impacts.] Darmstadt, 19 January 2016 - Software AG (Frankfurt TecDAX: SOW) today announced its preliminary financial figures (IFRS, preliminary) for the fourth quarter and the full year 2015. The company's new Go-to-Market strategy had a positive impact on all key performance parameters. In the fourth quarter of the year, the Group set several new records: The Digital Business Platform reported a license increase of 23 percent, while its maintenance improved by 10 percent. Additionally, Software AG increased cloud bookings in 2015 by more than 130 percent. Adabas & Natural showed the lowest decline in four years as A&N-based applications remained highly relevant for customers, supported by Software AG's strong customer focus and innovative product developments. With a rise in total revenues of 4 percent in Q4, the Group managed once again to increase its profitability over-proportionately: Both the operating earnings margin (EBITA, non-IFRS) at 36 percent as well as the EBIT margin (IFRS) at 31 percent set two new historic record levels. For the full year, the operating earnings margin reached 30 percent, exceeding the outlook (28 to 29 percent), already raised three months ago. Driven by the positive developments in the fourth quarter, Software AG successfully closed the 2015 financial year with revenue and earnings growth. For 2016, the company is well positioned to further accelerate this profitable growth. "The fourth quarter results underscore the huge market potential of our Digital Business Platform and confirm our undisputed technology leadership", said Karl-Heinz Streibich, CEO of Software AG. "Our excellent product portfolio, the great progress in our Go-to-Market transformation, strong Adabas & Natural customer base retention, and continued efficiency improvements are the core reasons for our strong upwards trend, which is expected to continue in 2016 and beyond. The operational improvements and corresponding successes that we have seen over the past year have indeed matured from a quarter-by-quarter development into a real growth trend." "In the past quarter, we lifted Software AG's profitability to a new level through organic growth and focused process optimization", said CFO Arnd Zinnhardt. "For the future, we are optimally positioned and expect to further increase our company value." Development of the business divisions The Digital Business Platform (DBP) achieved license revenue of EUR74.0 million (Q4 2014: EUR60.2 million) in the fourth quarter, reaching a new record level in Software AG's history - corresponding to significant growth of 23 percent over the previous year. Maintenance revenues amounted to EUR63.6 million (Q4 2014: EUR57.9 million), approximately 10 percent over the same period and also setting a new record. Accordingly, total product revenue (licenses and maintenance) amounted to EUR137.6 million in the fourth quarter (Q4 2014: EUR118.1 million) up 17 percent. For full year 2015, DBP revenue was at EUR431.5 million (FY 2014: EUR394.5 million), up by 9 percent. The Adabas & Natural (A&N) business line recorded revenue of EUR68.2 million (Q4 2014: EUR77.0 million). License sales were EUR28.9 million (Q4 2014: EUR38.4 million) and maintenance EUR39.1 million (Q4 2014: EUR38.4 million). For the full year 2015, A&N revenue of EUR248.0 million (FY 2014: EUR245.3 million) was up 1 percent, reflecting the strong commitment of the A&N customer base to continue to run their critical business applications on Software AG's proven technology. Revenues in the Consulting line of business were EUR51.8 million (Q4 2015: EUR 52.2 million). For the full year 2015, revenue was EUR193.6 million (FY 2014: EUR195.8 million, adjusted for revenue from the divested SAP consulting business unit). At the same time the segment contribution improved to EUR21.8 million (FY 2014: EUR16.9 million) and the segment margin to 11 percent (FY 2014: 8 percent) due to the divestment of non-strategic services. Total revenue and earnings development Software AG's total revenue in the quarter under review was EUR257.5 million (Q4 2014: EUR247.3 million), an increase of 4 percent. For the full year, total revenue was EUR873.1 million (FY 2014: EUR857.8 million), up 2 percent. The company's product revenue was up 5 percent for the quarter at EUR205.6 million (Q4 2014: EUR195.0 million). For the full year 2015, product revenue was up 6 percent to EUR678.8 million (FY 2014: EUR641.4 million). The maintenance revenue reached EUR102.6 million (Q4 2014: EUR96.4 million), up 6 percent in the quarter marking a new quarterly record. For the full year, Software AG booked EUR406.9 million (FY 2014: EUR371.3 million), a 10 percent rise and also a new record high. The license revenue for the fourth quarter was EUR103.0 (Q4 2014: EUR98.6 million), representing a 4 per¬cent rise. For the full year 2015, license reached EUR271.9 million (FY 2014: EUR270.1 million). The operating earnings (EBITA, non-IFRS) increased strongly due to a higher product revenue, improved sales mix, higher efficiency and active cost management. Software AG's operating earnings (EBITA, non-IFRS) increased to EUR92.2 million (Q4 2014: EUR88.4 million) in the quarter reported. Accordingly, the operating earnings margin (non-IFRS) reached 36 percent (Q4 2015: 36 percent). For the full year 2015, operating earnings improved by 8 percent to EUR295.1 million (FY 2014: EUR239.3 million), the operating profit margin (non-IFRS) jumped to 30 percent (FY 2014: 28 percent). The company's profit before interest and taxes EBIT in the fourth quarter was EUR80.1 million (Q4 2014: EUR71.4 million), a plus of 12 percent. EBIT in fiscal 2015 was EUR209.4 million (FY 2014: EUR176.0 million), an increase of 19 percent. This corresponds to an EBIT margin of 31 percent in Q4 (Q4 2014: 29 percent) and to an EBIT margin for 2015 of 24 percent (FY 2014: 21 percent). Achieved Goals 2015 With the Q4 financial results, Software AG has achieved its 2015 goals. At constant currency, the DBP revenue grew by 2 percent, which is above the mid-point of the company's guided corridor of between +0 and +3 percent. A&N at constant currency represented a slight decrease of -5 percent for the total year, in-line with the guided -4 to -8 percent corridor. With 30 percent, the operating earnings margin (EBITA, non-IFRS) even exceeded the outlook of 28 to 29 percent. Outlook 2016 Based on the increasing market relevance of the company's portfolio and the further expected positive impacts of its Go-to-Market strategy, Software AG is now targeting a currency-adjusted increase of DBP product revenue of between +5 and +10 percent for 2016. For A&N, the Group expects currency-adjusted sales to decline between -4 and -8 percent over the previous year. Moreover, the company expects further improvement of its operating profit margin (EBITA, non-IFRS) reaching 30 to 31 percent. ### The full set of key figures will be published on January 27th, 2016 on Software AG's corporate website.
2016-01-19 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. 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 News DGAP News Service
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