OpenLimit Holding AG
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Publication of the Half-Year Report 2015
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Baar (Switzerland) (pta006/27.08.2015/07:30) - [ for the PDF version of the Half-Year Report, please click on this link: https://www.openlimit.com/en/about-openlimit/investor-relations-eng/publications.html ]
Corporate News
* Turnover increases by 11% to EUR 3.03 million in the first six months of 2015
* Operating result (EBIT) up 57%, with net result for the period up 33%
* Successful implementation of new regulations at the General Meeting 2015
* A total of 19 partners together present the Smart Meter Gateway developed by OpenLimit and Power Plus Communications AG at the E-world trade fair in February
* The extension of several major orders is leading to a significant strain on the company's resources
* New service contracts in the fields of consumer electronics and energy
* CEO Marc Gurov assumes CFO responsibilities and Maik Pogoda becomes new Chief Operating Officer (COO)
Baar, 27 August 2015 - OpenLimit Holding AG, a leading international provider of technologies for secure data transfer, unambiguous online identity verification, electronic signatures and evidentiary value-preserving long-term storage of documents, published its Half-Year Report 2015 early today.
In the first six months of the current financial year, the company increased its turnover by 11% to EUR 3.03 million (compared to EUR 2.72 million for the first six months of 2014). Taking own work capitalized into consideration, this means total earnings of EUR 4.59 million (compared with EUR 4.14 million for the first six months of 2014). Because of the growth in turnover and cost savings, the company's operating result (EBIT) improved by 57% to EUR -0.30 million. In this way, and despite a poorer financial result, the company's net loss decreased by 33% to EUR -0.59 million (compared with EUR -0.89 million for the first half of 2014).
Due to longer payment terms and delays in the receipt of payments from trade accounts receivable, the liquidity situation was difficult once more in the first half of the year, with interim financing being necessary. However, OpenLimit expects the situation to improve again in the coming weeks. The significant reduction in old accounts receivable was particularly pleasing.
Finally, the debt maturities of EUR 1.25 million due in the first half of the year were successfully re-placed and / or their terms extended.
Konnektor
One focus of the company's development activities and a significant sales driver for the period was the continuation of work on the Konnektor as part of the development order awarded by T-Systems to OpenLimit. The Konnektor allows secure coupling of the local systems of the players in the healthcare system with the central telematics infrastructure as well as selected services within the context of processing electronic documents and files, e.g. by way of electronic signature and encryption. To support the primary manufacturers of card readers and specialist applications, OpenLimit regularly makes available the current development status of the Konnektor. The main order will not be completed until the second quarter of 2016. Since 2014, OpenLimit has been generating revenues in the solid seven-digit range through executing the project as originally awarded. Over the past several months, the order has been expanded through change requests (CRs), with new CRs also being discussed, the realization of which would extend into 2016. With the nationwide rollout expected from mid-2016 onwards (subject to the passing of the associated law), OpenLimit will also generate revenues from sales of the Konnektor.
* Operating result (EBIT) up 57%, with net result for the period up 33%
* Successful implementation of new regulations at the General Meeting 2015
* A total of 19 partners together present the Smart Meter Gateway developed by OpenLimit and Power Plus Communications AG at the E-world trade fair in February
* The extension of several major orders is leading to a significant strain on the company's resources
* New service contracts in the fields of consumer electronics and energy
* CEO Marc Gurov assumes CFO responsibilities and Maik Pogoda becomes new Chief Operating Officer (COO)
Baar, 27 August 2015 - OpenLimit Holding AG, a leading international provider of technologies for secure data transfer, unambiguous online identity verification, electronic signatures and evidentiary value-preserving long-term storage of documents, published its Half-Year Report 2015 early today.
In the first six months of the current financial year, the company increased its turnover by 11% to EUR 3.03 million (compared to EUR 2.72 million for the first six months of 2014). Taking own work capitalized into consideration, this means total earnings of EUR 4.59 million (compared with EUR 4.14 million for the first six months of 2014). Because of the growth in turnover and cost savings, the company's operating result (EBIT) improved by 57% to EUR -0.30 million. In this way, and despite a poorer financial result, the company's net loss decreased by 33% to EUR -0.59 million (compared with EUR -0.89 million for the first half of 2014).
Due to longer payment terms and delays in the receipt of payments from trade accounts receivable, the liquidity situation was difficult once more in the first half of the year, with interim financing being necessary. However, OpenLimit expects the situation to improve again in the coming weeks. The significant reduction in old accounts receivable was particularly pleasing.
Finally, the debt maturities of EUR 1.25 million due in the first half of the year were successfully re-placed and / or their terms extended.
Konnektor
One focus of the company's development activities and a significant sales driver for the period was the continuation of work on the Konnektor as part of the development order awarded by T-Systems to OpenLimit. The Konnektor allows secure coupling of the local systems of the players in the healthcare system with the central telematics infrastructure as well as selected services within the context of processing electronic documents and files, e.g. by way of electronic signature and encryption. To support the primary manufacturers of card readers and specialist applications, OpenLimit regularly makes available the current development status of the Konnektor. The main order will not be completed until the second quarter of 2016. Since 2014, OpenLimit has been generating revenues in the solid seven-digit range through executing the project as originally awarded. Over the past several months, the order has been expanded through change requests (CRs), with new CRs also being discussed, the realization of which would extend into 2016. With the nationwide rollout expected from mid-2016 onwards (subject to the passing of the associated law), OpenLimit will also generate revenues from sales of the Konnektor.
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