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DGAP-News: USU Software AG: Strong international business leads to significant growth in sales and earnings - international share of 28% in Q2 2014(DGAP Corporate News Via Acquire Media NewsEdge) DGAP-News: USU Software AG / Key word(s): Quarter Results/Half Year Results USU Software AG: Strong international business leads to significant growth in sales and earnings - international share of 28% in Q2 2014 21.08.2014 / 09:59 --------------------------------------------------------------------- * Organic sales increase of 16% in Q2 2014 as against previous year * Share of total sales generated outside Germany reaches 28% in Q2 2014 * License income up 47% as against Q2 2013 * Adjusted EBIT at seven times previous year's level in quarter under review * Figures for first half of 2014 fully on target * Sales and earnings planning confirmed Möglingen, August 21, 2014 - USU Software AG (ISIN DE000A0BVU28) successfully continued the positive trend of the previous quarters in the second quarter of 2014. With consolidated sales under IFRS of EUR 14,293 thousand (Q2 2013: EUR 12,301 thousand), the Company and its subsidiaries (also referred to hereinafter as "USU" or the "USU Group") generated an organic increase in sales of 16.2% compared to the previous year. This was chiefly attributable to the significant expansion of international business. The USU Group thus increased sales generated outside Germany from EUR 1,453 thousand in the previous year to EUR 4,014 thousand in the quarter under review, corresponding to growth of 176.3%. The share of total sales generated outside Germany accordingly climbed to 28.1% in the second quarter of 2014 (Q2 2013: 11.8%). This was also accompanied by a substantial increase in high-margin license income, which rose by 46.7% to EUR 2,250 thousand (Q2 2013: EUR 1,534 thousand). As a result of this business growth, USU increased its adjusted earnings before interest and taxes (adjusted EBIT) to EUR 1,511 thousand in Q2 2014 (Q2 2013: EUR 216 thousand), seven times as high as the previous year's level. USU increased its adjusted consolidated earnings from EUR 29 thousand in the same quarter of the previous year to EUR 1,422 thousand. Adjusted earnings per share therefore improved to EUR 0.13 (Q2 2013: EUR 0.00). On an unadjusted basis, USU generated a 328.9% rise in earnings before interest, taxes, depreciation and amortization (EBITDA) to EUR 1,707 thousand in the quarter under review (Q2 2013: EUR 398 thousand). USU improved its earnings before interest and taxes (EBIT) from EUR 32 thousand in the second quarter of 2013 to EUR 1,151 thousand at present. The USU Group's consolidated net profit calculated in accordance with IFRS totaled EUR 1,040 thousand in Q2 2014 after a net loss of EUR 136 thousand in the same quarter of the previous year. This corresponds to earnings per share of EUR 0.10 (Q2 2013: EUR -0.01). In the first half of the year, the USU Group generated a sales increase of 12.0% year-on-year to EUR 27,607 thousand (Q1-Q2 2013: EUR 24,644 thousand). In addition to strong international business, USU also benefited from sales of the new product innovations. Software license income consequently rose by an above-average 30.5% in the first half of 2014 compared to the first six months of 2013 to EUR 4,142 thousand (Q1-Q2 2013: EUR 3,175 thousand). USU also increased its consulting sales by 14.1% to EUR 16,572 thousand (Q1-Q2 2013: EUR 14,526 thousand), while maintenance business grew 3.9% to EUR 6,370 thousand (Q1-Q2 2013: EUR 6,131 thousand). Broken down by segment, Product Business contributed a total of EUR 20,764 thousand (Q1-Q2 2013: EUR 18,085 thousand) to consolidated sales in the first six months of the 2014 fiscal year, corresponding to a year-on-year increase of 14.8%. Consulting sales in the Service Business segment also increased slightly by 3.5% to EUR 6,755 thousand (Q1-Q2 2013: EUR 6,525 thousand) as a result of obtaining several new customer projects. Sales not allocated to the segments totaled EUR 88 thousand in the months from January to June 2014 (Q1-Q2 2013: EUR 34 thousand). Broken down by region, the USU Group's international business performed particularly well in the period under review. Here, USU benefited in particular from several major orders from leading Fortune 100 companies in the oil, telecommunications and insurance sectors that were obtained by the US subsidiary Aspera Technologies. As a result, the USU Group doubled its international sales year-on-year to EUR 6,778 thousand in the period under review (Q1-Q2 2013: EUR 3,191 thousand). As a result of the significant expansion of high-margin license business and a comparatively moderate development of costs, the USU Group as a whole achieved a disproportionately high increase in profitability in the first six months of 2014. Adjusted EBIT accordingly increased significantly to EUR 1,984 thousand in the first half of 2014 (Q1-Q2 2013: EUR 238 thousand). USU also generated substantial growth in adjusted consolidated earnings to EUR 1,733 thousand (Q1-Q2 2013: EUR -42 thousand), corresponding to adjusted earnings per share of EUR 0.16 (Q1-Q2 2013: EUR 0.00). Not including acquisition-related adjustments, USU increased its EBITDA by 487.3% year-on-year to EUR 2,349 thousand in the period under review (Q1-Q2 2013: EUR 400 thousand). Including depreciation and amortization expense of EUR 1,101 thousand (Q1-Q2 2013: EUR 717 thousand), EBIT amounted to EUR 1,248 thousand (Q1-Q2 2013: EUR -317 thousand). USU increased its consolidated net profit from EUR -570 thousand in the previous year to EUR 958 thousand in the first half of 2014, corresponding to earnings per share of EUR 0.09 (Q1-Q2 2013: EUR -0.05). As a result of the increase in profits, the USU Group's liquidity rose slightly to EUR 14,259 thousand as of June 30, 2014 (December 31, 2013: EUR 14,231 thousand) despite the dividend distribution of EUR 2,631 thousand. With an equity ratio of 64.9% as of the end of the period under review (December 31, 2013: 65.4%), the USU Group is therefore still on a very sound financial footing. Following the positive business performance in the first half of 2014, the Management Board confirms the planning for the USU Group, which anticipates an increase in sales to EUR 63 - 65 million (2013: EUR 55.7 million) for the current fiscal year. Adjusted EBIT is expected to rise to EUR 8 - 8.5 million (2013: EUR 5.1 million) throughout the Group. At the same time, the Management Board confirms the medium-term planning, which predicts that the EUR 100 million sales threshold will be exceeded by 2017 and that the adjusted EBIT margin will rise to over 15%. USU Software AG The USU Group is the largest provider in Europe for IT and knowledge management software. Market leaders from all sectors of the international economy use USU applications to create transparency, enhance agility, save costs and reduce their risks. In addition to USU AG, founded in 1977, USU Software AG - which is listed in the Prime Standard of the German Stock Exchange and in the GEX (ISIN DE000A0BVU28) - also includes the subsidiaries Aspera GmbH, LeuTek GmbH, OMEGA Software GmbH, USU Consulting GmbH and B.I.G. Social Media GmbH. Contact: USU Software AG Corporate Communications Dr. Thomas Gerick Tel.: +49 (0) 71 41 - 48 67 440 Fax: +49 (0) 71 41 - 48 67 909 E-Mail: [email protected] USU Software AG Investor Relations Falk Sorge Spitalhof D-71696 Möglingen Tel.: +49 (0) 71 41 - 48 67 351 Fax: +49 (0) 71 41 - 48 67 108 E-Mail: [email protected] --------------------------------------------------------------------- 21.08.2014 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: USU Software AG Spitalhof 71696 Möglingen Germany Phone: +49 (0)7141 4867-0 Fax: +49 (0)7141 4867-200 E-mail: [email protected] Internet: www.usu-software.de ISIN: DE000A0BVU28 WKN: A0BVU2 Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, Hamburg, München, Stuttgart End of News DGAP News-Service --------------------------------------------------------------------- 283281 21.08.2014 |