OpenLimit Holding AG

DGAP-News: OpenLimit Holding AG: OpenLimit publishes half-year report 2014

DGAP-News: OpenLimit Holding AG / Key word(s): Half Year Results
OpenLimit Holding AG: OpenLimit publishes half-year report 2014

28.08.2014 / 07:30


OpenLimit Holding AG

Zugerstrasse 76b
OpenLimit Holding AG  |  Zugerstrasse 76b  |  CH - 6341 Baar

Corporate News

OpenLimit Holding AG: OpenLimit publishes half-year report 2014

  - Turnover increases by 9% to EUR 2.72 million in the first six months of
    the year

  - Operating loss (EBIT) drops by 40% while the net loss falls by 30%

  - Fujitsu and OpenLimit present a common showcase for truedentity(R) in
    combination with vein scanner technology PalmSecure(TM) at CeBIT 2014
    and agree on collaboration

  - OpenLimit, Power Plus Communications AG and Elster GmbH conclude an
    agreement on cooperation in the area of the Smart Meter Gateway

  - First milestones for major T-Systems order for the development of a
    "Konnektor" for the healthcare market

Baar, 28 August 2014 - OpenLimit Holding AG, leading international provider
of technologies for unambiguous online identity verification, electronic
signatures, secure data transfer and evidentiary value-preserving long-term
storage of documents published its mid-year report 2014 early today.

In the first six months of the current financial year the group increased
its turnover to EUR 2.72 million (compared with a figure of EUR 2.49
million for the same period last year). Plus internally produced and
capitalized assets, this represents total earnings of EUR 4.14 million
(compared with a figure of EUR 3.74 million for the same period last year).
Owing to growth in turnover and cost reductions and despite a worse
financial result, the group was therefore able to reduce its net loss by
30% to EUR 0.89 million (1st half of 2013: EUR -1.27 million).

Owing to extended payment targets and delays in the receipt of accounts
receivable payments, the liquidity situation was again difficult in the
first half of the year and the group had to rely on interim financing.
However, OpenLimit expects the situation to improve in the coming weeks.


Following on from the major order received from T-Systems in December 2013,
the so called "Konnektor" for doctors' practices and hospitals was an
important focus of development activities during the first half of 2014.
The main purpose of the "Konnektor" being developed by OpenLimit is to
establish a secure link between the local systems of the stakeholders in
the healthcare system with the central telematics infrastructure. This
project is one of the lighthouse projects of the Federal Republic of
Germany within the context of implementation of the eCard strategy with the
healthcare card. After successful completion of tests of the telematics
infrastructure in two test regions, it is planned to roll out the security
devices across the entire country. The electronic healthcare card (eGK),
the electronic health professional card (HBA) and security module cards
(SMC) all function as authentication media. Since the security and
reliability of the "Konnektor" has a decisive influence on the security of
the telematics infrastructure, the device with its installed software must
go through a corresponding approval procedure which, along with a
functional test, also includes security testing and certification.
OpenLimit generates revenues on the basis of development milestones
realized, with the total order value lying in the solid 7-digit range and
extending until the end of 2015. After successful implementation of the
pilot projects and provided nationwide rollout is decided upon after this,
OpenLimit can generate licence revenue through the sale of the connector.

Smart Meter Gateway

The Smart Meter Gateway (SMGW) secures the communication of electricity
meter data to energy providers and end-consumers. In the area of the Smart
Meter Gateway, the software development proceeded as planned. A significant
highlight in the first quarter was the eWorld trade fair in February. Here,
Power Plus Communications AG (PPC) and OpenLimit together were able to
successfully present the jointly developed Smart Meter Gateway at numerous
partner booths, e.g. Elster, Siemens, Robotron, Cuculus, Worldline and
Itron. Elster, a world leader in smart metering, decided to enter into a
partnership with PPC and OpenLimit SignCubes AG. To this end, the three
companies agreed to a collaboration. Elster is therefore offering customers
the possibility of realizing reference and pilot projects very early on.


Together with partner Fujitsu, a single sign-on scenario for truedentity in
connection with the PalmSecure(TM) hand vein scanner was presented at CeBIT
2014. The combination of both innovative technologies offers greater
protection against identity abuse while also requiring a high degree of
user-friendliness for a two-factor authentication solution. A user
authenticates himself simply and securely with the surface of his hand.
Furthermore, the solution offers the possibility of saving identity data
locally on smart cards. This improves security, thereby meeting special
data protection requirements. Possible application scenarios include, in
particular, the areas of physical access control, logging in to computers /
smart devices or networks, cashless payment transactions and so on. A
collaboration was agreed upon over the course of the CeBIT. Since then,
OpenLimit has been commissioned with technical implementation of the
solution and will, after completion, also earn license revenues through the
sale of the solution.

Further Developments

In the area of signature technologies and Fujitsu SecDocs powered by
OpenLimit, moderate progress was achieved. New partnerships and customers
are in the pipeline. OpenLimit also endeavored to intensify its activities
with sales partners in the Middle East, South America, certain Eastern
European countries and Japan, with activities in the latter market being at
the most advanced stage.


The outlook for the 2014 financial year remains the same as that described
in the Annual Report for 2013. OpenLimit has a solid order backlog in the
mid 7-digit range for 2014. Because of project delays and partly because of
long payment targets, working capital management remains a challenging
task. Furthermore, the company is reliant on generating substantial new
business in order to achieve its goal of moderate sales growth compared
with the previous year as well as in order to reach the EBIT breakeven
point. This aim is sometimes heavily dependent on legal and other
frameworks which lie beyond OpenLimit's control. Because of the sales
pipeline that exists for the signature and truedentity(R) products, the
acquisition of further major orders could to some extent cushion any delay
in the introduction of the Smart Meter Gateway. Ultimately however, the
chances of realizing the company's aims cannot be assessed until later in
the year. At present, we expect the legal and technical frameworks for the
Smart Meter Gateway to be complete in the third or fourth quarter. This
would significantly boost sales activities in the energy sector.
OpenLimit's management will, in any event, do everything in its power to
achieve the goals set.

Read the complete report (German version) on our website.

About OpenLimit

Publicly traded OpenLimit Holding AG (symbol: 05H) is located in Baar,
Switzerland, with an operating subsidiary and subsidiary located in Berlin,
Germany. The group of companies employs over 60 highly qualified staff.
OpenLimit stands for the secure electronic handshake. With our
technologies, we enable people and machines worldwide to communicate in
ways that are secure, verifiable and identifiable. We develop enabling
technologies and products in the following areas: electronic identities,
electronic signatures, evidentiary value-preserving long-term storage of
data and documents as well as secure communication between machines. Our
technologies are an integral component of products from leading
manufacturers of IT applications and can be found in businesses,
authorities, institutions as well as private households. In order to
realize our mission of a secure electronic handshake, we enter into
targeted strategic development and sales partnerships.

For further information, please visit


OpenLimit Holding AG
Mr. Hermann Homann
Tel.: +41-41-560-1020
Fax: +41-41-560-1039


The contents of this communication are for information purposes only and do
not constitute an investment recommendation, a subscription invitation or
an offer for the purchase or sale of securities in the company. OpenLimit
Holding AG shall not assume any liability for losses that could in any way
be associated with this communication or the information provided therein.
This shall apply in particular to any losses suffered as a result of
acquiring shares in OpenLimit Holding AG.

This communication includes forward-looking statements. Forward-looking
statements are statements that no not describe events from the past; they
also include statements on our assumptions and expectations. Every
statement contained within this press release which describes our
intentions, assumptions, expectations or predictions (as well as the
assumptions underlying these) is a forward-looking statement. These
statements are based on plans, estimates and forecasts currently available
to the management of OpenLimit Holding AG. Forward-looking statements
therefore only relate to the day on which they are made. We shall not
assume any obligation to refine such statements in the light of new
information or future events.


28.08.2014 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.


Language:    English
Company:     OpenLimit Holding AG
             Zugerstrasse 76 b
             6341 Baar
Phone:       +41 41-560-1020
Fax:         +41 41-560-1039
ISIN:        CH0022237009
WKN:         A0F5UQ
Listed:      Regulierter Markt in Frankfurt (General Standard);
             Freiverkehr in Berlin, München, Stuttgart

End of News    DGAP News-Service
284229 28.08.2014

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