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USU Software AG

EANS-News: USU Software AG
USU generates sales growth and increases earnings significantly

Möglingen (Germany), November 9, 2009 (euro adhoc) -

• Sales climb by 4.3% 
• EBITDA up significantly by 45.7% 
• Solid financing with equity ratio of 86.4%
• Sustainable sales and earnings growth planned
  Corporate news transmitted by euro adhoc. The issuer/originator is solely
  responsible for the content of this announcement.
Earnings/quarterly report/9-month report/9-month figures 2009
Subtitle:
• Sales climb by 4.3%
• EBITDA up significantly by 45.7%
• Solid financing with equity ratio of 86.4%
• Sustainable sales and earnings growth planned
Bucking the
worst economic recession in decades, USU Software AG has enjoyed a 
consistently successful performance in the first nine months of 2009.
In his presentation on the Company to the German Equity Forum in the 
fall of 2009, the Chairman of the Management Board, Bernhard 
Oberschmidt, expounded the business figures for the first nine 
months. USU's consolidated sales rose by 4.3% year-on-year in line 
with planning to EUR 24.8 million (Q1-Q3/2008: EUR 23.8 million). At 
the same time, the Company significantly increased its earnings power
with a rise in operating earnings before interests and taxes (EBITDA)
of 45.7% to EUR 1.4 million (Q1-Q3/2008: EUR 0.9 million). There was 
also an above-average improvement in EBIT, which was up from EUR 42 
thousand in the previous year to EUR 0.5 million in the reporting 
period. The net profit for the period ultimately climbed by 80.5% as 
against the previous year to EUR 0.7 million (Q1-Q3/2008: EUR 0.4 
million). The Management Board has confirmed the planning for the 
year as a whole of generating sales growth in excess of the average 
for its relevant market segments as forecast. Operating EBITDA is 
also expected to rise strongly compared to sales.
Sales climb by 4.3% While the economy as a whole and the IT sector 
have suffered a heavy drop in sales, USU Software AG increased its 
consolidated sales by 4.3% year-on-year to EUR 24.8 million in the 
first nine months of fiscal 2009 (Q1-Q3/2008: EUR 23.8 million). A 
key part of this positive sales development was accounted for by 
consulting business, which improved by 7.6% to EUR 15.5 million 
(Q1-Q3/2008: EUR 14.4 million). As a result of the healthy 
performance in license business in the previous year, maintenance 
business also experienced an above-average rise of 7.0% to EUR 5.3 
million (Q1-Q3/2008: EUR 4.9 million). By contrast, software license 
sales in the reporting period were down 16.1% on the very strong 
previous year, amounting to EUR 3.2 million (Q1-Q3/2008: EUR 3.8 
million). Other income in the first three quarters of 2009 totaled 
EUR 0.8 million (Q1-Q3/2008: EUR 0.6 million), primarily relating to 
merchandise sales. The USU Group´s sales generated outside Germany 
amounted to EUR 1.8 million (Q1-Q3/2008: EUR 1.6 thousand) in the 
period under review, accounting for 7.1% (Q1-Q3/2008: 6.9%) of 
consolidated sales. USU is anticipating tangible success in this 
field from the fourth quarter of 2009 on account of the significant 
expansion of activities in international partner business.
EBITDA up significantly by 45.7% Regardless of more intensive 
overseas and partner activities as part of its strategy of 
internationalization and the targeted investments in the ongoing 
development of Group products, USU increased its EBITDA in the 
reporting period by 45.7% to EUR 1.4 million (Q1-Q3/2008: EUR 0.9 
million).  There was also an above-average improvement in EBIT, which
was up from EUR 42 thousand in the previous year to EUR 0.5 million 
in the first nine months of fiscal 2009. With a consolidated net 
profit of EUR 0.7 million (Q1-Q3/2008: EUR 0.4 million), the USU 
Group continued its positive income development and increased its net
profit for the period by 80.5% as against the previous year. Earnings
per share rose accordingly to EUR 0.07 (Q1-Q3/2008: EUR 0.04).
Solid financing with equity ratio of 86.4% The Group´s liquidity 
amounted to EUR 8.1 million as of September 30, 2009 (December 31, 
2008: EUR 9.5 million). The reported decline in cash and cash 
equivalents was due to the final earn-out payment of EUR 0.9 million 
for LeuTek GmbH, which was acquired in 2006, and the dividend payment
of EUR 1.5 million to the shareholders of USU Software AG. The 
dividend distribution also reduced the Company´s equity to EUR 45.2 
million (December 31, 2008: EUR 45.9 million). At the same time, USU 
scaled back its debt capital as of the end of the third quarter of 
2009 to EUR 7.1 million (December 31, 2008: EUR 8.2 million). There 
were also no liabilities to banks as of the end of the third quarter 
of 2009. Thus, USU's financing situation is still extremely solid. 
With total assets of EUR 52.3 million (December 31, 2008: EUR 54.2 
million), the equity ratio was 86.4% as of September 30, 2009 
(December 31, 2008: 84.8%).
Sustainable sales and earnings growth planned With the successful 
business performance in the first nine months of the current fiscal 
year as a basis, the Management Board expects, as forecast, to 
generate sales growth in excess of the average for the relevant 
market segments for the year as a whole. Operating EBITDA is also 
expected to rise strongly compared to sales. In particular, visible 
growth contributions are expected to result from international 
partner business from the fourth quarter 2009. The Company gained 
several international sales partners with which it has already 
performed a number of product training sessions and events for 
potential customers as of the end of the third quarter of 2009. Thus,
by 2010, the international share of consolidated sales, which will 
primarily consist of partner sales from license and maintenance 
business, will almost double. The Company is therefore investing 
specifically in increasing its internationalism and the further 
development of Group products to generate sales growth above the 
relevant market segment and above-average earnings growth in the 
medium to long term, thereby establishing a foundation on which to 
continue the shareholder-friendly dividend policy of recent years to 
allow the shareholders of USU Software AG to participate in the 
business success of the Company as in previous years.
This announcement is available at http://www.usu-software.com
USU - The Knowledge Business Company The USU Software AG offers with 
its company network appliances, products and consulting all about 
Knowledge Business, aligned for the future. For example Valuemation. 
Our clients obtain a broad and complete overview over their IT 
processes, IT infrastructure and are able to display their IT costs 
transparently, to account and control actively. More than 500 clients
administrate with this product group more than 30 million IT assets. 
For example KnowledgeMiner. As an integrated research and navigation 
system or portal solution, we activate the complete knowledge of a 
single organisation with this technology. Call and service centres 
solve more than ten thousand individual problems and requests day for
day, using the technology. Departments like quality assurance, 
production or distribution fasten their core processes and improve 
their quality. The ability to form branch knowhow, competence of 
technology and user demands to an integrated software system, has 
been convincing clients for more than two decades in all fields of 
the international economy. The USU Software AG (ISIN DE000A0BVU28) is
listed in the Prime Standard of the Frankfurt stock exchange.
end of announcement                               euro adhoc

Further inquiry note:

Falk Sorge
Tel.: +49 (0)7141 4867 351
E-Mail: fsorge@usu.de

Branche: Software
ISIN: DE000A0BVU28
WKN: A0BVU2
Index: CDAX, Prime All Share, Technologie All Share
Börsen: Frankfurt / regulated dealing/prime standard
Berlin / free trade
Hamburg / free trade
Düsseldorf / free trade
Hannover / free trade
München / free trade
Stuttgart / regulated dealing

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