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    AOF   DE0005104400

ATOSS SOFTWARE AG

(AOF)
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Real-time Estimate Quote. Real-time Estimate Tradegate - 09/20 03:21:59 pm
179.2 EUR   -3.14%
08/29ATOSS SOFTWARE : Cloud is now!
PU
08/16ATOSS SOFTWARE AG : Buy rating from Berenberg
MD
08/13ATOSS SOFTWARE : Half-Year Report 2021
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ATOSS Software : Quarterly Statement Q2 2021

07/26/2021 | 03:48am EDT

ATOSS Software AG: Continuation of growth trajectory in the first half of the year matched by accelerated transformation of the business model to the cloud

According to preliminary figures for the second quarter, ATOSS Software AG once again impressively maintained its dynamic growth of the first three months, setting new sales and earnings records. Consolidated sales posted year-on-year growth of 13 percent in the first six months, jumping to EUR 45.7 million (prior year: EUR 40.6 million). In the process, the Group made significant progress in expanding its cloud business. The Munich-based software specialist is thereby excellently positioned to cash in on the very attractive growth opportunities in the market for workforce management - now and in the future.

Munich, July 26, 2021

ATOSS Software AG continues to chart its growth path and has maintained its consistent performance in the first half of 2021 in line with the budget. The demand for innovative, software-based solutions for the strategic management of employees is undiminished, especially in the current environment, as they enable companies to optimize their personnel needs along the entire value chain. Around 10,000 customers are now planning and managing more than 3.5 million employees in 52 countries with ATOSS Workforce Management solutions. And there is no end to the demand in sight given the sizable digitization deficit facing many companies. This is not least reflected in the half-yearly figures the company presented Group today.

Software sales in the period from January to June 2021 increased by an appreciable 18 percent, climbing to EUR 30.9 million (prior year: EUR 26.2 million). This equates to a 68 percent share of the Group's total sales (prior year: 64 percent). The successful expansion of sales from cloud and subscriptions which enjoyed a sustainable 52 percent boost to EUR 8.8 million (prior year: EUR 5.8 million) is worthy of special mention. The growth in software maintenance, which has been positive for years, also continued in the first half of the year. Sales here rose by 8 percent to EUR 14.1 million (prior year: EUR 13.0 million). Overall, the proportion of recurring revenues in total sales - and thereby the central, key factor in the company's future growth - continued to grow in line with the budget and has now reached 50 percent for the first time (prior year: 46 percent). Sales from consulting services showed moderate growth of 4 percent to EUR 12.1 million (prior year: EUR 11.6 million) - based on the previous year's figure which was already on a very high level.

The consistently high demand for digital workforce management from the Munich software pioneer is demonstrated by excellent order book figures following a strong order intake in the first half of the year. Annual Recurring Revenue (ARR for short), which has again posted a double-digit increase of 74 percent to around EUR 18.5 million (prior year: EUR 10.6 million), is most noteworthy in this context. Furthermore, the company succeeded in significantly expanding the proportion of orders received for cloud & subscriptions in the total orders for software to over 70 percent. By comparison: in fiscal 2020, the proportion of cloud orders received still stood at around 42 percent. With these developments, ATOSS is taking giant strides in the cloud transformation of its business model.

ATOSS Software AG

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Notwithstanding the significant year-on-year increase in expenses - particularly for R&D as part of the continuous refinement of ATOSS software solutions as well as higher personnel costs resulting from its international expansion of capacity in Sales - the return on sales relative to operating earnings (EBIT) remains at a high level of 26 percent (prior year 28 percent). But the company's strong performance is also reflected in further key figures for the Group such as liquidity. For example, ATOSS' cash position of EUR 33.8 million (prior year: EUR 30.7 million) as of the end of the first half of the year remains very strong, also after the dividend distribution of EUR 1.67 per share (EUR 13.3 million) carried out on May 5, 2021.

Consequently, ATOSS remains a stronghold of growth and stability and is excellently positioned to post further growth in the future across all customer segments in the highly attractive growth markets revolving around workforce management and digitization. This performance is underpinned by a clear vision and strategy, groundbreaking technologies and solutions which generate sustainable value added for customers. With the expansion of the Executive Board to include Dirk Häußermann as the new co-CEO and Pritim Kumar Krishnamoorthy as the new CTO, the company has also established a platform for its further globalization and the continuation of its already successfully initiated cloud transformation.

Also against the background of the progress made in cloud transformation that is significantly above budget, the Executive Board is standing by its forecast for the whole of 2021, that was already raised at the start of the year. This forecast envisages sales rising to EUR 95 million. Furthermore, the company is budgeting an EBIT margin of 27 percent, taking account of the capital expenditure planned, particularly in sales geared to opening up new markets and in development capacity. The focus on the cloud, combined with greater emphasis on global alignment, will secure the company additional, sustainable growth prospects over the long term.

ATOSS Software AG

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2

CONSOLIDATED OVERVIEW PURSUANT TO IFRS: HALF-YEAR COMPARISON IN KEUR (preliminary)

01/01/2021

Proportion of

01/01/2020

Proportion of

Change

- 06/30/2021

total sales

- 06/30/2020

total sales

2021 / 2020

Sales

45,726

100%

40,635

100%

13%

Software

30,922

68%

26,154

64%

18%

Licenses

8,077

18%

7,398

18%

9%

Maintenance

14,084

31%

12,998

32%

8%

Cloud & Subscription

8,761

19%

5,757

14%

52%

Consulting

12,119

27%

11,642

29%

4%

Hardware

2,059

5%

1,788

4%

15%

Others

625

1%

1,051

3%

-41%

EBITDA

13,851

30%

13,343

33%

4%

EBIT

11,976

26%

11,532

28%

4%

EBT

11,995

26%

11,863

29%

1%

Net profit

8,258

18%

8,252

20%

0%

Cash flow

8,054

18%

11,852

29%

-32%

Liquidity (1)

33,808

30,747

10%

EPS in euro (3)

1.04

1.04

0%

Employees (4)

588

524

12%

CONSOLIDATED OVERVIEW PURSUANT TO IFRS: QUARTERLY GROWTH IN KEUR (preliminary)

Q2/21

Q1/21

Q4/20

Q3/20

Q2/20

Sales

22,775

22,951

24,932

20,486

20,885

Software

15,562

15,360

16,736

13,156

14,325

Licenses

3,708

4,369

6,090

3,021

4,684

Maintenance

7,222

6,862

6,868

6,734

6,582

Cloud & Subscriptions

4,631

4,130

3,779

3,401

3,059

Consulting

5,831

6,288

6,580

5,881

5,482

Hardware

1,056

1,003

1,162

965

565

Others

326

299

453

485

512

EBITDA

6,898

6,953

9,705

6,711

7,319

EBIT

5,815

6,161

8,808

5,825

6,425

EBIT margin in %

26%

27%

35%

28%

31%

EBT

5,856

6,139

8,588

5,747

6,694

Net profit

4,113

4,145

5,795

3,667

4,826

Cash flow

960

7,094(5)

744

10,610

5,832

Liquidity (1/2)

33,808

46,567

40,488

40,680

30,747

EPS in euro (3)

0.52

0.52

0.73

0.46

0.61

Employees (4)

588

571

557

540

524

  1. Cash and cash equivalents, other current and non-current financial assets (sight deposits, gold) as of the qualifying date, adjusted to exclude borrowings (loans)
  2. Dividend of EUR 1.67 on 05/05/2021 (KEUR 13,282). As a result of the share split carried out in June 2020, the dividend paid in 2020 has been adjusted retrospectively for comparison purposes: Dividend of EUR 1.275 per share on 06/03/2020 (KEUR 10,140).
  3. In accordance with IAS 33.64, earnings per share (EPS) have been retrospectively adjusted for the previous period due to the share split carried out in June 2020.
  4. at the end of the quarter/year
  5. corrected to press release of 04/26/2021

ATOSS Software AG

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Upcoming dates:

August 13, 2021

Publication of the 6-monthly financial statements

October 25, 2021

Publication of the 9-monthly financial statements

November 22 -24, 2021 ATOSS at the German Equity Forum

ATOSS

ATOSS Software AG is a provider of technology and consulting solutions for professional workforce management and demand-optimized workforce deployment. Whether conventional time management, mobile apps, detailed workforce forecasting, sophisticated workforce scheduling or strategic capacity and requirement planning, ATOSS has just the right solution - both in the cloud and on-premises. The modular product families feature the very highest level of functionality, browser-basedhigh-end technology and platform independence. With around 10,000 customers in 52 countries, ATOSS workforce management solutions make a measurable contribution to increased value creation and competitiveness. At the same time, they ensure greater planning fairness and satisfaction at the workplace. Customers include companies such as ALDI SÜD, Coca-Cola, Deutsche Bahn, Douglas, Edeka, HUK- COBURG, Klinikum Leverkusen, Lufthansa, MEYER WERFT, Schmitz Cargobull, Sixt, Stadt Regensburg, thyssenkrupp Packaging Steel and W.L. Gore & Associates. Further information: www.atoss.com

ATOSS Software AG

Christof Leiber / Member of the Management Board

Rosenheimer Straße 141 h,

D-81671 Munich

Tel.: +49 (0) 89 4 27 71 - 0

Fax: +49 (0) 89 4 27 71 - 100 investor.relations@atoss.com

ATOSS Software AG

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4

Disclaimer

ATOSS Software AG published this content on 26 July 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 July 2021 07:47:02 UTC.


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Financials
Sales 2021 96,4 M 113 M 113 M
Net income 2021 17,6 M 20,6 M 20,6 M
Net cash 2021 25,0 M 29,3 M 29,3 M
P/E ratio 2021 81,4x
Yield 2021 0,92%
Capitalization 1 425 M 1 673 M 1 671 M
EV / Sales 2021 14,5x
EV / Sales 2022 12,7x
Nbr of Employees 588
Free-Float 48,7%
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Number of Analysts 4
Last Close Price 179,20 €
Average target price 197,25 €
Spread / Average Target 10,1%
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Managers and Directors
Andreas F. J. Obereder Chief Executive Officer
Christof Leiber Chief Financial Officer
Moritz Emanuel Zimmermann Chairman-Supervisory Board
Boris Baginsky Director-Technology, Research & Development
Andreas Koller Director-Product, Research & Development
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