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Sword Group: Q12014 Financial Results - Results ahead of Budget(Thomson Reuters ONE Via Acquire Media NewsEdge) Sword Group Q1 2014 Financial Results Results ahead of Budget Sword Group - Q1 2014 (1) Consolidated Revenue: €30.6M Pro forma Revenue: €26.8M Pro forma Operating Margin: 14.5% Consolidated Growth: +17.2% Organic Growh: +5.9% Net Cash Position: €45.8M (1) Non audited Figures A dividend payment of €1 per share will be made on the 7th May 2014. Luxembourg - April 24th 2014, €M - Consolidated Figures (1) | Q1 2014 | Q1 2013 ---------------------------------+---------+--------- Revenue | 30.6 | 26.1 ---------------------------------+---------+--------- Current Operating Income | 4.1 | 3.6 | | +---------------------------------+---------+---------+ | €M - Pro forma Figures (1) (2) | Q1 2014 | Q1 2013 | +---------------------------------+---------+---------+ | Revenue | 26.8 | 25.3 | +---------------------------------+---------+---------+ | Current Operating Income | 3.9 | N/A | +---------------------------------+---------+---------+ (1) Non audited Figures (2) When considering the pro forma position, we should take into account the group perimeter after the disposal of TIPIK. ANALYSIS The Q1 2014 consolidated revenue has increased by 17.2% when compared with the same period in the prior year. This increase is as a direct result of : - Organic growth of 5.9%, - The latest acquisitions made by Sword. The financial results by divisions are: +----------------------------+-----------------------+-----------------------+ | €M Consolidated Figues (1) | Q1 2014 | Q1 2013 | +----------------------------+-------+------+--------+-------+------+--------+ | | R | EBIT | % | R | EBIT | % | +----------------------------+-------+------+--------+-------+------+--------+ | Software | 8.41 | 2.34 | 27.82% | 5.56 | 1.53 | 27.52% | +----------------------------+-------+------+--------+-------+------+--------+ | IT Services | 18.35 | 1.54 | 8.39% | 13.76 | 1.20 | 8.72% | +----------------------------+-------+------+--------+-------+------+--------+ | Communication Techno. | 3.80 | 0.22 | 5.79% | 6.78 | 0.82 | 12.09% | +----------------------------+-------+------+--------+-------+------+--------+ | Total | 30.56 | 4.10 | 13.42% | 26.10 | 3.55 | 13.60% | +----------------------------+-------+------+--------+-------+------+--------+ The Trademarks and Patents division which was formerly classified within IT services has now sufficiently productised its offerings that we will be considering it as part of the software business going forwards. This reclassification has been applied to both the 2013 and the 2014 figures above. The group's net cash position is €45.8M. PERSPECTIVES The disposal of TIPIK will have two key implications, firstly it will allow the group to bring increased clarity to the market in respect of our core offerings and competencies centred around two key divisions, IT services and IT software. Secondly it will indirectly allow the group to increase its operating margins. We confirm that following the Q1 results we are on target to meet our objective in respect of 5% organic growth in FY2014. We will continue with our acquisition strategy in FY2014. We are confident of achieving all of the financial targets that we announced at the start of the year. Sword Group Euronext Paris - Compartment C ISIN Code: FR0004180578 ICB : 9530 Software & Computer Services Indices CAC® Small CAC® Mid & Small CAC® All-Tradable CAC® All-Share © Sword Group SE 2, Rue d'ArlonL-8399 Windhof SwGroupQ12014Financial Results: http://hugin.info/143591/R/1779844/608319.pdf This announcement is distributed by GlobeNewswire on behalf of GlobeNewswire clients. The owner of this announcement warrants that: (i) the releases contained herein are protected by copyright and other applicable laws; and (ii) they are solely responsible for the content, accuracy and originality of the information contained therein. Source: SWORD Group via GlobeNewswire [HUG#1779844] |