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Peter Tranberg
[email protected]
Back to all SimCorp announcements

Interim report for the three months ended 30 September 2004: Improved EBIT margin and continued growth

Summary
Generating revenue of DKK 118m and EBIT of DKK 8m, SimCorp continued the positive business performance in Q3. For the first nine months of 2004, revenue totalled DKK 375m and EBIT was DKK 36m, marking improvements of 17% and DKK 50m respectively on the year-earlier period. The Group projects a significant order intake in the fourth quarter and an order book standing at more than DKK 200m by the end of 2004. For 2004 overall, SimCorp expects revenue growth of 10% and upgrades the EBIT margin forecast from about 12% to about 15%.

SimCorp’s Board of Directors today reviewed and approved the Group’s interim report for the three months ended 30 September 2004. Highlights of the report are:
• Q3 revenue was up 8% on the same period last year to close to DKK 118m. Revenue for the first nine months of the year was DKK 375m, an improvement of 17% on the same period of 2003. Page 4
• Maintenance income continued to grow, increasing by 27% relative to Q3 2003. The level of professional fees remained high in Q3, reaching a new record level for a single quarter. SimCorp’s business activities with existing customers showed a satisfactory performance. Page 4
• Q3 EBIT was DKK 8m. For the first nine months of 2004 the EBIT margin was 9.5% and EBIT was DKK 36m, an improvement of DKK 50m relative to the year-earlier period. Page 4 • Total Q3 order intake amounted to DKK 16m. The order book stood at DKK 106m at 30 September 2004 compared with DKK 110m at 30 June 2004. Page 4
• The order intake is expected to remain strong in Q4 and to lift the order book to more than DKK 200m by the end of 2004, which is double the value of the order book at the beginning of Q4. For 2004 overall, SimCorp expects revenue growth of 10% and upgrades the EBIT margin forecast from about 12% to about 15%. At 1 October 2004, contracts had been secured for DKK 487m or around 86% of the estimated full-year revenue. Page 5

Investor meeting
SimCorp’s Management Board will present the interim report at an investor presentation to be held on Thursday, 4 November 2004 at 3 p.m. at the company’s offices at Oslo Plads 12, DK-2100 Copenhagen O. The meeting will be open to the public. An electronic meeting facility has been set up through:
Phone: +45 36 95 41 50

The meeting can be accessed afterwards via SimCorp’s web site.