Summary
SimCorp's business performed satisfactorily in the first three months of the
year. Q1 revenue was up by 14% compared with the year-earlier period to EUR
36.9m. EBIT for the three-month period was EUR 2.3m.
SimCorp upholds its projections for 2008 of revenue in the EUR 175 - 185m range
with an EBIT margin of 22 - 25%.
***
SimCorp's Board of Directors today considered and approved the Group's interim
report for the three months ended 31 March 2008. Highlights of the report are:
• Q1 revenue was up 14% y/y to EUR 36.9m. Page 4
• Income recognised from licences and add-on licences amounted to EUR 9.7m in
the three-month period, an increase of 16% y/y. Q1 order intake was EUR 2.8m
compared with the unusually high quarterly order intake of EUR 10.2m in Q1
2007. The order book decreased by EUR 7.0m in Q1 to stand at EUR 18.0m at 31
March 2008. Page 4
• The level of sales and supply of professional services remained high.
Professional fees for the first three months of the year were EUR 13.1m, up 6%
relative to the year-earlier period. Maintenance income was up by 24% relative
to the same period of last year. Page 5
• Q1 EBIT was EUR 2.3m, which was better than planned but a decline of EUR
3.2m, or 58%, relative to the same period of last year. This was mainly
attributable to scheduled higher costs related to the intake of new staff in
2007. Page 6
• SimCorp upholds its full-year projections of revenue in the EUR 175 - 185m
range with an EBIT margin of 22 - 25%. At 31 March 2008, contracts equalling
EUR 108.0m of the revenue projected for 2008 had been secured, EUR 3.8m more
than at the same time last year. The Group's pipeline of potential licence
contracts is performing satisfactorily, and the Group expects the total intake
of new licence contract orders for 2008 to be in the same range as for 2007.
Page 7
***
Investor meeting
SimCorp's Executive Management Board will present the interim report at an
investor presentation to be held on Friday, 23 May 2008 at 9:00 a.m. at OMX
Nordic Exchange Copenhagen, Nikolaj Plads 6, 1067 Copenhagen K. An electronic
meeting facility has been set up through webcast
(link: http://webcast.zoomvision.se/denmark/clients/simcorp/080523/). The
meeting will be open to the public.
Fifteen minutes after conclusion of the meeting, Peter L. Ravn, CEO, tel. +45
4076 1841, Niels Beck, Senior Vice President, tel. +45 2270 1433 and Thomas
Bry, Senior Vice President, tel. +45 2092 7454 will be available for questions.
The presentation will be available afterwards via SimCorp's website
www.simcorp.com.
