SimCorp reports Q1 results

Source: SimCorp

SimCorp's Board of Directors today reviewed and approved the Group's interim report for the three months ended 31 March 2005.

Q1 showed strong revenue and earnings growth backed by two new SimCorp Dimension orders and the continued positive performance of the business volume with existing customers. Revenue was up 61% to EUR 23.3m. Q1 EBIT was EUR 4.4m, an improvement of EUR 5m relative to the year earlier period. SimCorp maintains its full-year revenue and EBIT forecast.

Highlights of the report are:

  • SimCorp changes its reporting currency from DKK to EUR.
  • Q1 revenue was up 61% on the same period last year to close to EUR 23.3m.
  • SimCorp's business activities with customers continued the satisfactory performance. Maintenance income continued to grow, increasing by 23% relative to Q1 2004.
  • The level of sales and delivery of professional services remained high. Professional services were EUR 6.9m, up 27% relative to the same period last year. Adding almost 30 employees in Q1, SimCorp implemented the planned capacity increase in its R&D function and its market units.
  • Q1 EBIT was EUR 4.4m, an improvement of EUR 5.0m relative to the year earlier period.
  • Total Q1 order intake amounted to EUR 5.8m. The order book stood at EUR 22.8m at 31 March 2005 compared with EUR 25.0m at 31 December 2004.
  • For 2005 - 2006, SimCorp projects both annual revenue and the order book to grow by 15-20%. At 1 April 2005, contracts equalling EUR 71.4m of the revenue for 2005 had been secured, EUR 17.0m more than at the same time last year. The Group's EBIT margin is expected to be in the range of 15-20% in 2005 - 2006.Download the document now 237.8 kb (Adobe Acrobat Document)

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