DGAP-News ifa systems AG: ifa systems successfully completes 2020
DGAP-News: ifa systems AG / Key word(s): Annual Results/Annual Report
ifa systems AG (ISIN DE0007830788), a leading global software company specializing in ophthalmology, today published figures for the 2020 financial year. Sales reached € 7.3 million (previous year: € 9.7 million), slightly above the target corridor of € 6.7 to 7.2 million. Revenue in the previous year was impacted by the special effect from the database licensing of Inoveon. The 2.5 percent growth in the Corona year resulted from the sales contribution of the new subsidiary Sophrona. The operating result developed as planned and reached € 0.3 million (previous year: € 1.2 million). The operating cash flow amounted to € 1.9 million (previous year € 3.4 million).
"ifa's business model has proven to be very resilient during the crisis," says Jörg Polis, Chairman of the Board of Management of ifa systems AG. "With the acquisition of Sophrona, we will now further accelerate our growth." U.S.-based Sophrona Solutions, Inc. became part of the group on November 1, 2020. With almost 2,000 installations, it is a leading portal platform in the USA for online communication between patients and doctors in ophthalmology.
Growth during the pandemic
Recurring revenues from runtime licenses, which customers pay for the duration that the software is used by them, developed positively. They increased by 10.3 percent to € 4.3 million and, as recurring revenues, now represent more than 58 percent of total revenue. Hardware, third-party software and services also increased by 11.6 and 10.0 percent respectively. Some customers took advantage of the lockdown to catch up on deferred investments. Sales of base licenses, adjusted for the special effect in the previous year, declined due to the contact restrictions during the lockdown. They represent business with new customers and new products and amounted to € 1.1 million.
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