SimCorp Q1 revenue and profit up

Source: SimCorp

SimCorp's Board of Directors today reviewed and approved the Group's interim report for the three months ended 31 March 2007.

Highlights of the report are:
  • SimCorp continues its strong business performance and its results are in line with expectations. Q1 revenue was EUR 34.1m, a 43% improvement over the same period of last year.
  • Total Q1 order intake was EUR 10.6m, a 47% improvement on Q1 2006. The order book increased by EUR 1.8m to stand at EUR 26.4m at 31 March 2007. Income recognised from licences and add-on licences amounted to EUR 8.7m in Q1, up 61% relative to Q1 2006.
  • The level of sales and professional services remained high. Professional service fees were EUR 13.0m, up 43% relative to the same period of last year. Maintenance income was EUR 11.8m up by 31% relative to Q1 2006.
  • Q1 EBIT was EUR 5.6m, which was EUR 2.9m higher than in Q1 2006.
  • SimCorp upholds its projections for 2007 of growth in revenue of 15% with an EBIT margin of around 20%. At 31 March 2007, contracts equalling EUR 108.8m of the revenue projected for 2007 had been secured, EUR 20.1m more than at the same time last year. The Group's pipeline of potential licence contracts is progressing in line with expectations.

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