EANS-News: USU Software AG
Final Business Figures of 2012 Confirm Successful
Trend - Dividend Increase to EUR 0.25 per Share Announced
-------------------------------------------------------------------------------- Corporate news transmitted by euro adhoc. The issuer/originator is solely responsible for the content of this announcement. -------------------------------------------------------------------------------- Subtitle: Clear growth in sales and profits Strong increase in international business 25% dividend increase on previous year announced Consistently solid financing with high Group liquidity Plan for sales to surpass EUR 100-million mark within five years Financial Figures/Balance Sheet Möglingen (euro adhoc) - Möglingen, March 26, 2013 - USU Software AG (ISIN DE000A0BVU28) increased Group sales in line with IFRS in fiscal 2012 by 12.4% to EUR 51,229 thousand (2011: EUR 45,597 thousand). International business proved particularly successful, contributing a total of EUR 9,192 thousand (2011: EUR 5,412 thousand) to Group sales. This represents year-on-year growth of 69.8%. The share of consolidated sales generated outside Germany therefore rose from 11.9% in 2011 to 17.9% during the year under review. In fiscal 2012, USU thus exceeded its medium-term target of achieving 15% of total sales abroad. Broken down by type of sales, license business posted the highest rise thanks to international expansion, as anticipated. USU thus increased income from software licenses by 35.1% on the previous year to EUR 7,997 thousand in 2012 (2011: EUR 5,919 thousand). As a result of the expansion in software license business, maintenance income also climbed by 9.9% to EUR 11,679 thousand (2011: EUR 10,624 thousand). In terms of sales of consulting services in the Product Business and Service Business segments, USU achieved an increase over the previous year of 11.4% to EUR 29,215 thousand (2011: EUR 26,232 thousand). Owing to the non-recurring effects of the final Aspera acquisition in the year under review and the associated non-recurring expense for the purchase price adjustment of EUR 1,855 thousand, EBITDA for fiscal 2012 amounted to EUR 5,265 thousand (2011: EUR 6,700 thousand), while EBIT amounted to EUR 3,528 thousand (2011: EUR 4,644 thousand). Mainly as a result of the recognition of deferred tax assets in connection with the conclusion of the profit transfer agreement in the period under review between USU Software AG and Aspera GmbH, USU generated cumulative tax income of EUR 1,380 thousand in fiscal 2012, compared with tax expenditure of EUR 962 thousand in the previous year. Overall, the USU Group generated unadjusted consolidated earnings in the reporting period of EUR 4,815 thousand (2011: EUR 3,545 thousand), up 35.8%, corresponding to earnings per share of EUR 0.46 (2011: EUR 0.34). After adjustment for acquisition-related non-recurring effects, the USU Group increased its adjusted EBIT by 8.3% to EUR 7,065 thousand in 2012 (2011: EUR 6,522 thousand). Adjusted consolidated earnings rose by 35.7% to EUR 7,219 thousand (2011: EUR 5,319 thousand). This corresponds to adjusted earnings per share of EUR 0.69 (2011: EUR 0.50). In view of the successful performance of the USU Group and its positive future prospects, the Management and Supervisory Boards will propose a 25% increase in the dividend compared with the previous year to EUR 0.25 (2011: EUR 0.20) per share at the Annual General Meeting on June 6, 2013. As a result of the positive development of income, the equity of USU Software AG increased in 2012 to EUR 52,295 thousand (December 31, 2011: EUR 49,908 thousand) compared with the previous year. With total assets of EUR 66,721 thousand (December 31, 2011: EUR 70,050 thousand), the equity ratio rose accordingly to 78.4% as of December 31, 2012 (December 31, 2011: 71.2%). As a result of the settlement of the purchase price for the remaining 49% of shares in Aspera including the pro rata profit distribution totaling EUR 8,978 thousand and the payment of the dividend to USU shareholders of EUR 2,105 thousand, cash and cash equivalents including securities declined to a total of EUR 11,408 thousand as of December 31, 2012 in line with planning (December 31, 2011: EUR 17,630 thousand). The Group-wide order book for the USU Group increased by 1.9% on the previous year to EUR 21,914 thousand (2011: EUR 21,501 thousand). The Group expanded its workforce by 14.6% to 362 (2011: 316) employees. Following the successful performance in 2012, the Management Board expects USU Software AG to achieve further growth in sales and earnings in the coming years. Above all, Product Business is expected to continue growing. Following the expiry of several major projects at the end of the year under review and a correspondingly weak start to the current fiscal year, however, Service Business is not likely to see business expand until later this year. In fiscal 2013, positive effects in sales and income are expected to result primarily from the internationalization of the USU Group. From the second quarter of 2013, CA Technologies - one of the biggest global software groups in the USA - will be responsible for global sales growth of the USU Group's license management solution. In addition to organic growth, another key element of the Company's strategy is the expansion of Group activities through the acquisition of companies and interests in companies. To this end, USU Software AG acquired at the end of December 2012 a majority stake in BIG Social Media GmbH, an international provider of SaaS solutions in the area of social media management that will from 2013 be fully consolidated in the Group's financial statements. After sales topped the EUR 50 million mark in 2012, the Management Board anticipates an increase in consolidated sales to at least EUR 58 million in fiscal 2013. Adjusted EBIT is expected to rise to over EUR 8 million (2012: EUR 7.1 million) in the same period. At the same time, shareholders in USU Software AG can expect once again to participate significantly in the Company's business success through a continuation of the shareholder-friendly dividend policy established over recent years. For subsequent years, the Management Board also expects sales above the average market level, while continuing to improve the earnings margin. As part of the Management Board's medium-term plan, sales growth to over EUR 100 million has been forecast within the next five years. USU Software AG The USU Group is Europe's largest provider of IT Management and Knowledge Management software. Market leaders from every sector of the international economy create transparency with USU applications, while also increasing flexibility, decreasing risks and cutting costs. In addition to USU AG (founded in 1977), the subsidiaries Aspera GmbH, LeuTek GmbH, OMEGA Software GmbH, USU Consulting GmbH and BIG Social Media GmbH belong to USU Software AG (ISIN DE 000A0BVU28), which is listed in the Prime Segment of the German Stock Exchange (DAX) in Frankfurt and on the German Entrepreneurial Index (GEX). Further inquiry note: USU Software AG Investor Relations Falk Sorge Spitalhof D-71696 Möglingen Tel.: +49 (0) 71 41 - 48 67 351 Fax: +49 (0) 71 41 - 48 67 108 E-Mail: 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 E-Mail: t.gerick@usu-software.de end of announcement euro adhoc -------------------------------------------------------------------------------- company: USU Software AG Spitalhof D-71696 Möglingen phone: +49 (0)7141 4867 0 FAX: +49 (0)7141 4867 20 mail: investor@usu-software.de WWW: http://www.usu-software.de sector: Software ISIN: DE000A0BVU28 indexes: CDAX, Prime All Share, Technology All Share stockmarkets: free trade: Hannover, Berlin, München, Hamburg, Düsseldorf, regulated dealing: Stuttgart, regulated dealing/prime standard: Frankfurt language: English
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