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USU Software AG

EANS-News: USU Software AG
USU enjoys positive start to fiscal 2009

Möglingen (euro adhoc) -

  Corporate news transmitted by euro adhoc. The issuer/originator is solely
  responsible for the content of this announcement.
finances
Möglingen, May 19, 2009 - With Group sales
of EUR 8,325 thousand (Q1 2008: EUR 7,349 thousand), USU Software AG 
and its subsidiaries (hereafter: "USU Group" or "USU") generated 
organic growth of EUR 976 thousand or 13.3% in the first quarter of 
2009. A key part of this growth was accounted for by license 
business, which increased its sales as against the same quarter of 
the previous year by 55.7% to EUR 854 thousand (Q1 2008: EUR 548 
thousand). Thanks to the positive order situation and new license 
agreements in the previous year, maintenance business also reported 
growth of 8.6% to EUR 1,721 thousand (Q1 2008: EUR 1,586 thousand). 
Consulting business also picked up in the reporting period with an 
increase of 11.9% to EUR 5,521 thousand (Q1 2008: EUR 4,933 
thousand). Other income amounted to EUR 229 thousand in the first 
quarter of 2009 (Q1 2008: EUR 282 thousand) and essentially related 
to merchandise.
At EUR 8,144 thousand (Q1 2008: EUR 7,141 thousand), the Group's 
costs were up 14.1% on the figure for the previous year. In addition 
to the targeted investments in the ongoing development of the Group 
portfolio, international partner business was also expanded in the 
reporting quarter. As of January 1, 2009, the Management Board of the
Group's subsidiary USU AG was joined by the internationally 
experienced Sven Wilms, now responsible for global sales. At the same
time, the Company formed a team of partner managers. These activities
have already led to significantly broader market access in the 
Netherlands, Belgium, Switzerland and Austria. Furthermore, partner 
structures were also reorganized in the US and Saudi Arabia. Sales 
partners will be added in other European countries over the course of
the second quarter. Initial product training has already taken place 
to enable the first sales success stories before the end of the 
current fiscal year.
In total, USU generated a consolidated net profit for the first three
months of the current fiscal year of EUR 109 thousand (Q1 2008: EUR 
44 thousand). Irrespective of the step-up in activities to increase 
the internationalization of the USU Group and to expand the partner 
network and the targeted investments in the ongoing development of 
the Group's products, USU therefore improved its consolidated result 
in a sustained difficult market environment. With an average of 
10,021,054 shares (Q1 2008: 10,281,054), earnings per share amounted 
to EUR 0.01 (Q1 2008: EUR 0.00). While the USU Group's earnings 
before interest, taxes and depreciation (EBITDA) were steady 
year-on-year in the first quarter of 2009 at EUR 279 thousand (Q1 
2008: EUR 280 thousand), earnings before interest and taxes (EBIT) 
improved from EUR -14 thousand in the previous year to EUR 8 thousand
in the reporting quarter.
The liquidity of the USU Group was increased further in the first 
quarter of 2009. As of March 31, 2009, USU had cash and cash 
equivalents of EUR 10,984 thousand after EUR 9,541 thousand as of 
December 31, 2008. As a result of the earnings generated by the USU 
Group, equity rose slightly as against December 31, 2008 to EUR 
46,025 thousand (December 31, 2008: EUR 45,920 thousand). With total 
assets of EUR 54,909 thousand (December 31, 2008: EUR 54,153 
thousand), the equity ratio as of March 31, 2009 was 83.8% (December 
31, 2008: 84.8%). There were no liabilities to banks as of the end of
the first quarter of 2009 and hence USU's financing position remains 
extremely solid.
Following the successful start to the current fiscal year and 
assuming that economic developments will stabilize over time, the 
Management Board is anticipating that sales growth will also be above
the average level for the relevant market segments for the year as a 
whole. Earnings before interest, taxes, depreciation and amortization
(EBITDA) should also be up significantly on the previous year. Among 
other things, one positive indicator of this forecast is the 
Group-wide level of orders on hand at USU, which climbed to EUR 
14,362 thousand as of March 31, 2009, an increase of 7.2% on the 
previous year's level (Q1 2008: EUR 13,394 thousand). License 
business will also be a key factor in the Company's ongoing success. 
In addition to consistently strong domestic business, international 
partner business will also increasingly benefit operations and is 
expected to post its first profits on orders by the end of the 
current fiscal year. By 2010, the international share of consolidated
sales, which will primarily consist of partner sales from license and
maintenance business, will be raised to over 15%. The Company is 
therefore investing specifically in increasing its internationalism 
and the further development of Group products to generate a strong 
sales and earnings performance in the medium to long term, thereby 
establishing a foundation on which to continue the 
shareholder-friendly dividend policy of recent years.
Further details on the recent business developments and the strategy 
and planning of USU Software AG will be presented in more detail by 
the Management Board at the Company's forthcoming Annual General 
Meeting on June 25, 2009 at Forum am Schlosspark, Stuttgarter Strasse
33-35, in Ludwigsburg. Among other things, the Management Board and 
the Supervisory Board of USU Software AG shall, as previously 
announced, propose to the Annual General Meeting to pay the 
shareholders of the Company, as in the previous year, a dividend of 
EUR 0.15 per entitled share, thus allowing them to participate in the
positive business developments at USU Software AG and its 
subsidiaries.
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.
Contact:
USU Software AG
Investor Relations
Falk Sorge
Tel.: +49 (0) 71 41 / 48 67 351
Fax: +49 (0) 71 41 / 48 67 108
Email:  f.sorge@usu-software.de
USU Software AG
Corporate Communications
Dr. Thomas Gerick
Tel.: +49 (0) 71 41 / 48 67 440
Fax: +49 (0) 71 41 / 48 67 909
Email:  t.gerick@usu-software.de
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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