20 January 2018
visit http://response.ncr.com

SimCorp: profits up, sales forecasts down

15 November 2002  |  2281 views  |  0 SimCorp: profits up, sales forecasts down

Danish treasury management systems vendor SimCorp has revised full year sales projections downwards, despite reporting a surge in third quarter revenues.

SimCorp generated Q3 revenues of Dkr133m and a profit from primary activities of Dkr18m, a substantial improvement on the previous quarter and on Q3 2001. The group posted a loss of Dkr18m in Q2 2002 and a loss of Dkr26m in Q3 2001.

The vendor signed nine TMS2000 agreements and three IT/2 agreements for a total licence value of Dkr61m during the quarter. Add-on licences to existing customers amounted to Dkr5m. The period’s licence sales secure a Dkr13m increase in future annual maintenance income.

SimCorp says that during the past four quarters, the group has reported its largest order inflow ever.

However, the continued economic downturn has triggered a downgrade in the company's full-year sales forecast by Dkr35 million to between Dkr515 and Dkr565m. Profit from primary activities is expected to range between Dkr30m and Dkr80m.

At the beginning of Q4 SimCorp had secured contracts for about 80% of expected full-year sales. The sales and profit forecasts are based on the assumption of an order inflow of at least Dkr125m during Q4.
KeywordsFINDEX

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

SimCorp and Selkirk go live with STP link to FXall

SimCorp and Selkirk go live with STP link to FXall

30 October 2002  |  3580 views  |  0 comments
Brief: Swedish central bank adopts Simcorp's TMS2000

Brief: Swedish central bank adopts Simcorp's TMS2000

14 October 2002  |  2828 views  |  0 comments
Skandia Life Insurance deploys Simcorp's TMS2000

Skandia Life Insurance deploys Simcorp's TMS2000

27 September 2002  |  3193 views  |  0 comments
Delta Lloyd selects Simcorp's TMS2000 treasury management system

Delta Lloyd selects Simcorp's TMS2000 treasury management system

24 September 2002  |  2692 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.thomsonreuters.infovisit www.ebaday.comvisit www.niceactimize.com

Top topics

Most viewed Most shared
Europe begins Open Banking era in subdued styleEurope begins Open Banking era in subdued...
12422 views comments | 33 tweets | 38 linkedin
BofA leads on blockchain patentsBofA leads on blockchain patents
7827 views comments | 12 tweets | 12 linkedin
Standard Chartered establishes fintech innovation and investment unitStandard Chartered establishes fintech inn...
7667 views comments | 14 tweets | 14 linkedin
hands typing furiouslyFintech Adoption is About People, Not Tech
6789 views 1 | 6 tweets | 2 linkedin

Featured job

Competitive base + commission + benefits
UK or Germany

Find your next job