SimCorp’s Board of Directors today reviewed and approved the company’s interim report for the three months ended March 31, 2007. Highlights of the report were:
• Revenue for first quarter of 2007 was EUR 34.1m, an improvement of 43 percent relative to the year-earlier period.
• Total Q1 order intake was EUR 10.6m, a 47 percent improvement on the year-earlier period. Orders increased by EUR 1.8m in the first quarter to EUR 26.4m at March 31, 2007. Income recognized from licenses and add-on licenses amounted to EUR 8.7m in the first quarter, an increase of 61 percent compared to Q1 2006.
• The level of sales and professional services remained high. Professional service fees were EUR 13.0m, up 43 percent relative to the same period last year. Maintenance income was EUR 11.8m, up by 31 percent relative to Q1 2006.
• First quarter EBIT was EUR 5.6m, an improvement of EUR 2.9m over the same period of last year.
• SimCorp maintained its 2007 projection of a 15 percent revenue growth with an EBIT margin of approximately 20 percent. At March 31, 2007, contracts equaling 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 license contracts is progressing in line with expectations.
“SimCorp’s performance in Q1 2007 was highly satisfactory,” said Peter Soerensen, president, SimCorp USA. “We continue to see demand for SimCorp products -Dimension and IT2 - and related services continued to grow. SimCorp’s pipeline of potential license contracts is progressing, and considering the positive outlook for continued growth in business activities, we continue to plan capacity expansion in the R&D department and in the market units.”