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Software AG: Software AG: Preliminary Results for Q4 and full year 2015 - Outlook for the fiscal year 2016
Software AG / Key word(s): Final Results/Forecast
19.01.2016 00:46
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AD HOC DISCLOSURE ACCORDING TO § 15 WPHG
Software AG: Preliminary Results for Q4 and full year 2015 - Outlook for
the fiscal year 2016
Darmstadt, January 19, 2016 - Software AG (Frankfurt TecDAX: SOW) released
preliminary results for the fourth quarter and full-year 2015
* Impact of Go-to-Market transformation drives improvements in all key
performance parameters
* License revenue for the Digital Business Platform up 23 percent in Q4
* Operating margin (EBITA non-IFRS) reached historic record in Q4 of 36
percent
* Highest Group maintenance revenue in company's history, 10 percent up
year-on-year
* Full-year operating earnings (EBITA non-IFRS) at EUR259.1 million
exceeded outlook 2015
* Outlook 2016: 5 - 10 percent digital business growth at constant currency
[If not stated otherwise, all figures rounded including potential currency
impacts.]
1. Preliminary key figures for the 4th quarter
Key Figures for Q4 2015 (IFRS, unaudited)
in EUR millions Q4/2015 Q4/2014 ∆ in %as stated
Total revenue 257.5 247.3 +4
Product revenue 205.6 195.0 +5
Maintenance revenue 102.6 96.4 +6
License revenue 103.0 98.6 +4
Digital Business
Platform 137.6 118.1 +17
as % of total revenue 53% 48%
DBP maintenance 63.6 57.9 +10
DBP licenses 74.0 60.2 +23
Adabas & Natural 68.2 77.0 -11
as % of total revenue 27% 31%
A&N maintenance 39.1 38.4 +2
A&N licenses 28.9 38.4 -25
Consulting 51.7 52.2 -1
as % of total revenue 20% 21%
Sales & marketing
expenses -71.3 -71.9 -1
Research & development
expenses -27.1 -28.1 -4
EBIT* 80.1 71.4 +12
as % of total revenue 31% 29%
Operating Earnings
(EBITA, non-IFRS)** 92.2 88.4 +4
as % of total revenue 36% 36%
* = consolidated net income + income tax + other tax + financial result
** = EBITA adjusted for reduction of acquisition-related product revenue by
purchase price allocation, other acquisition effects, share-based payment,
restructuring/severance payments and operating income of divested units
Software AG's total revenue in the quarter under review was four percent up
resulting in a growth in profitability of 12 percent. The company's profit
before interest and taxes EBIT in the fourth quarter was EUR80.1 million
(Q4 2014: EUR71.4 million) corresponding to an EBIT margin of 31.1 percent
in Q4 (Q4 2014: 28.9 percent).
The operating earnings (EBITA, non-IFRS) increased strongly due to a higher
Software AG: Preliminary Results for Q4 and full year 2015 - Outlook for
the fiscal year 2016
Darmstadt, January 19, 2016 - Software AG (Frankfurt TecDAX: SOW) released
preliminary results for the fourth quarter and full-year 2015
* Impact of Go-to-Market transformation drives improvements in all key
performance parameters
* License revenue for the Digital Business Platform up 23 percent in Q4
* Operating margin (EBITA non-IFRS) reached historic record in Q4 of 36
percent
* Highest Group maintenance revenue in company's history, 10 percent up
year-on-year
* Full-year operating earnings (EBITA non-IFRS) at EUR259.1 million
exceeded outlook 2015
* Outlook 2016: 5 - 10 percent digital business growth at constant currency
[If not stated otherwise, all figures rounded including potential currency
impacts.]
1. Preliminary key figures for the 4th quarter
Key Figures for Q4 2015 (IFRS, unaudited)
in EUR millions Q4/2015 Q4/2014 ∆ in %as stated
Total revenue 257.5 247.3 +4
Product revenue 205.6 195.0 +5
Maintenance revenue 102.6 96.4 +6
License revenue 103.0 98.6 +4
Digital Business
Platform 137.6 118.1 +17
as % of total revenue 53% 48%
DBP maintenance 63.6 57.9 +10
DBP licenses 74.0 60.2 +23
Adabas & Natural 68.2 77.0 -11
as % of total revenue 27% 31%
A&N maintenance 39.1 38.4 +2
A&N licenses 28.9 38.4 -25
Consulting 51.7 52.2 -1
as % of total revenue 20% 21%
Sales & marketing
expenses -71.3 -71.9 -1
Research & development
expenses -27.1 -28.1 -4
EBIT* 80.1 71.4 +12
as % of total revenue 31% 29%
Operating Earnings
(EBITA, non-IFRS)** 92.2 88.4 +4
as % of total revenue 36% 36%
* = consolidated net income + income tax + other tax + financial result
** = EBITA adjusted for reduction of acquisition-related product revenue by
purchase price allocation, other acquisition effects, share-based payment,
restructuring/severance payments and operating income of divested units
Software AG's total revenue in the quarter under review was four percent up
resulting in a growth in profitability of 12 percent. The company's profit
before interest and taxes EBIT in the fourth quarter was EUR80.1 million
(Q4 2014: EUR71.4 million) corresponding to an EBIT margin of 31.1 percent
in Q4 (Q4 2014: 28.9 percent).
The operating earnings (EBITA, non-IFRS) increased strongly due to a higher
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