Den Haag, 29 april 2010 – Software AG (TecDAX: SOW) is 2010 sterk begonnen. De omzet in het eerste kwartaal kwam uit op 250,3 miljoen euro, een stijging van 51 procent op jaarbasis. In dezelfde periode groeide de omzet in producten met twintig procent naar 146,7 miljoen euro. Het operationele resultaat groeide met 22 procent naar 46,6 miljoen euro. Verder nam de vrije kasstroom toe met 39 procent naar 59,8 miljoen euro.

“Onze continue groei is het bewijs dat Software AG wereldwijd goed gepositioneerd is”, zegt Karl-Heinz Streibich, CEO van Software AG. “Door ons te richten op excellente processen leveren we precies wat klanten willen. De integratie met IDS Scheer verloopt volgens plan en samen creëren we vernieuwende oplossingen en markten voor procesinnovatie.”

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PRESS RELEASE

Software AG Returns Significant Growth in First Quarter 2010

  • Total revenue up through M&A and organically by 51 percent to €250 million
  • Operating results (EBIT) up 22 percent to €46.6 million
  • Earnings per share (EPS) up 10 percent to €0.98
  • Significant 39 percent increase in free cash flow to €59.8 million
  • Software AG confirms forecast for fiscal year

Darmstadt, Germany, April 27, 2010 – Software AG (Frankfurt TecDAX: SOW) is off to a strong start in 2010, continuing on the growth path it began in 2003. First-quarter total revenue was posted at €250.3 million, a 51 percent increase year-on-year. In the same period, product revenue grew 20 percent to €146.7 million. Free cash flow, which had been climbing progressively over the past few quarters, dynamically rose by 39 percent in the first quarter. This higher Free Cash Flow expanded the Company’s capability to further drive growth. The slight upswing in IT demand that became apparent early in the year had a positive impact on the first quarter. The Company expects an increased volume of large-scale projects in the Process Innovation division and confirms its outlook for the fiscal year.

“Our continuous growth is proof that Software AG is well positioned globally,” states Software AG CEO, Karl-Heinz Streibich. “By focusing on excellent processes we have delivered exactly what customers need. Integration with IDS Scheer is progressing according to plan, and, together, we are breaking new ground in process ¬innovation.”

Revenue by segment
The webMethods integration software division, including service-oriented architecture (SOA) and business process management (BPM), achieved 9 percent growth in first-quarter revenue to €81.4 million. Licensing revenue for this division increased 10 percent over the same period in the previous year. The ETS (Adabas, Natural) data management business division posted revenue almost equaling that of last year’s at €89.1 million (€90.7 million) million. The Enterprise Process Innovation division, which represents the IDS Scheer business, contributed €79.8 million in total to Software AG’s revenue growth. Of that, products (ARIS and third-party products) contributed €21.0 million and services and consulting (IDS Scheer Consulting and product implementation) €58.8 million.

Earnings and cash flow
Successful sales with the new products combined with effective cost management resulted in increased earnings in the first quarter. Cost ratios were reduced as were absolute costs, which fell below those of the fourth quarter of 2009 – the first quarter of complete consolidation with IDS Scheer AG. Software AG’s operating earnings in the first quarter of 2010 were up 22 percent to €46.6 million (2009: €38.1 million). Net income grew almost 9 percent to €28.0 million although the tax rate (33 percent) remained about the same and interest payments (€4.6 million) were higher due to acquisitions. Earnings per share were up at €0.98 (2009: €0.90).

The repeated increase in free cash flow in the first quarter was particularly encouraging, up 39 percent year-on-year to €59.8 million. This positive development was a result of effective receivables management facilitated by excellent internal business processes.

“High, sustainable cash flow guarantees that we have adequate liquidity, which is necessary to sustainably ensure innovation and growth,” said Software AG CFO, Arnd Zinnhardt. “We are making headway in realizing the financial goals associated with the integration of IDS Scheer AG.”

Integration of IDS Scheer and Software AG progressing as planned
Operational integration of IDS Scheer began in February 2010 in the central administrative departments and will continue at the foreign subsidiaries. To further accelerate the process, the merger of the companies is being prepared. To that end, IDS Scheer AG shares will be exchanged for Software AG shares. The exchange rate will be based on a value assessment of the five-year plans of both companies. A preliminary value per share was calculated at €138.96 for a Software AG share and €16.74 per an IDS Scheer share.

Outlook
The operational results showed the normal seasonal effects. In light of the persistently difficult economic climate, this can be considered a very positive indication of upcoming business development. Customers at CeBIT expressed strong interest in innovative IT solutions to optimize business processes. The merger of IDS Scheer and Software AG in both the product and consulting businesses will generate cost benefits and competitive advantages. The Company therefore confirms the outlook for fiscal year 2010 which was published in February, with total revenue growth between 25 and 30 percent and product revenue growth between 12 and 15 percent, at constant currency rates. Accordingly, an increase in net income and earnings per share is expected between 8 and 12 percent.

Key Figures

in € million Q1 2010

 

 Q1 2009

 

 Change

 
      ∆
Group revenue 250.3 165.3 +51%
- Product revenue 146.7 122.5 +20%
- Licensing revenues 61.2 49.3 +24%
- Maintenance revenues 85.4 73.2 +17%
EBIT 46.6 38.1 +22%
Net income 28.0 25.6 +9%
Earnings per share (in €) 0.98 0.90 +10%
Free cash flow 59.8 43.0 +39%
       
Total employees 5,936 3,640  
 - Employees in Germany 2,185 851  

 

Over IDS Scheer
IDS Scheer – onderdeel van de Software AG Groep – is een toonaangevende leverancier van Business Process Management-software, -oplossingen en -services voor bedrijven en overheidsinstellingen. Met het ARIS Platform for Process Excellence biedt het bedrijf een geïntegreerd en compleet portfolio voor strategie, ontwerp, implementatie en controle met betrekking tot bedrijfsprocessen. Hierdoor verbeteren bedrijven hun prestaties continu. De consultants van IDS Scheer maken gebruik van de ARIS Value Engineering-benadering (AVE). Daarmee dichten ze de kloof tussen bedrijfsstrategie, bedrijfsprocessen, IT-oplossingen en procescontrole.

Over Software AG
Software AG loopt wereldwijd voorop in Business Process Excellence. Het bedrijf is al veertig jaar actief op het gebied van innovatie en ontwikkelde onder meer de eerste snelle transactionele database Adabas, het eerste platform voor procesanalyse ARIS en het eerste B2B server- en SOA-integratieplatform webMethods.

Het bedrijf is uniek in het leveren van complete en gebruiksvriendelijke Business Process Management-oplossingen (BPM) met de laagste Total-Cost-of-Ownership. De toonaangevende merken ARIS, webMethods, Adabas, Natural en IDS Scheer Consulting staan voor een uniek portfolio: processtrategie, -ontwerp, -integratie en -controle; SOA-integratie en datamanagement; procesgedreven SAP-implementatie en strategische procesconsulting en diensten.

Software AG boekte in 2009 een omzet van 847 miljoen euro (IFRS, nog niet gecontroleerd) en telt meer dan 6.000 medewerkers. Zij bedienen wereldwijd meer dan 10.000 bedrijven en overheidsinstellingen in zeventig landen. Organisaties kunnen met de software en diensten van Software AG hun bedrijfsdoelstellingen sneller realiseren.

Software AG heeft zijn hoofdkantoor in Duitsland en is genoteerd aan de beurs van Frankfurt (TecDAX, ISIN DE 0003304002 / SOW).

Voor meer informatie:
IDS Scheer Nederland BV / Software AG
Nynke Barenholz nynke.barenholz@ids-scheer.com
Head of Marketing BeNeLux & Eastern Europe
Telephone +31 (0) 70– 301 2040

Lammers van Toorenburg Benelux PR
Annemieke van Baal/ Marije Perdon idsscheer@lvtpr.nl
Telephone +31 (0) 30– 656 5070


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