PRESS RELEASE : ifa systems AG: ifa systems successfully completes 2020

DGAP-News: ifa systems AG / Key word(s): Annual Results/Annual Report 
ifa systems AG: ifa systems successfully completes 2020 
2021-03-05 / 07:55 
The issuer is solely responsible for the content of this announcement. 
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  . Sales of EUR 7.3 million slightly above planned range, EBIT of EUR 0.3 million within target level 
  . Impact of Corona pandemic lower than expected 
  . significant growth planned with Sophrona for 2021 
ifa systems AG (ISIN DE0007830788), a leading global software company specializing in ophthalmology, today published 
figures for the 2020 financial year. Sales reached EUR 7.3 million (previous year: EUR 9.7 million), slightly above the 
target corridor of EUR 6.7 to 7.2 million. Revenue in the previous year was impacted by the special effect from the 
database licensing of Inoveon. The 2.5 percent growth in the Corona year resulted from the sales contribution of the 
new subsidiary Sophrona. The operating result developed as planned and reached EUR 0.3 million (previous year: EUR 1.2 
million). The operating cash flow amounted to EUR 1.9 million (previous year EUR 3.4 million). 
"ifa's business model has proven to be very resilient during the crisis," says Jörg Polis, Chairman of the Board of 
Management of ifa systems AG. "With the acquisition of Sophrona, we will now further accelerate our growth." U.S.-based 
Sophrona Solutions, Inc. became part of the group on November 1, 2020. With almost 2,000 installations, it is a leading 
portal platform in the USA for online communication between patients and doctors in ophthalmology. 
Growth during the pandemic 
Recurring revenues from runtime licenses, which customers pay for the duration that the software is used by them, 
developed positively. They increased by 10.3 percent to EUR 4.3 million and, as recurring revenues, now represent more 
than 58 percent of total revenue. Hardware, third-party software and services also increased by 11.6 and 10.0 percent 
respectively. Some customers took advantage of the lockdown to catch up on deferred investments. Sales of base 
licenses, adjusted for the special effect in the previous year, declined due to the contact restrictions during the 
lockdown. They represent business with new customers and new products and amounted to EUR 1.1 million. 
Stable cost structure 
The cost of purchased goods and services increased to EUR 1,010k, compared with EUR 934k in the previous year. This is 
attributable to increased sales of hardware and third-party software. Despite the addition of Sophrona, personnel 
expenses fell slightly from EUR 4.3 million to EUR 4.2 million. This was mainly due to shifts in new hirings in the wake of 
the Corona pandemic. Other operating expenses were reduced to EUR 1.3 million (previous year: EUR 1.5 million). Due to the 
pandemic, travel and advertising costs were down in particular, but consulting costs were also reduced. The operating 
result (EBIT) reached EUR 327k, the figure for the previous year was EUR 1.2 million and was also positively influenced to 
a large extent by the special effect in revenues. Consolidated net income amounted to EUR 154k, compared to EUR 1.2 million 
in the previous year, corresponding to earnings per share outstanding of EUR 0.06 (previous year EUR 0.44). 
As the free cash flow in 2020 was negative due to the acquisition of Sophrona (-1,357 kEUR), the Board of Management 
proposes to the Supervisory Board not to distribute a dividend for 2020. 
"The entire ifa team mastered the challenges of the past fiscal year with the greatest possible flexibility, discipline 
and a healthy dose of imagination. With this spirit, we will continue to shape 2021 successfully," says Polis. 
Financial Year 2021 
"We expect the ongoing digitization in healthcare to continue to have a positive impact on demand for our solutions in 
2021. We will help to further strengthen the role of our portfolio as the integration platform through targeted 
developments, the expansion of technology partnerships and the use of existing innovative products from the Nexus 
portfolio. With the acquisition of Sophrona as well as ifa as a center of competence for ophthalmology in the Nexus 
Group, we also have state-of-the-art technology and a customer and prospect base that has potential far beyond the DACH 
market," says Polis. 
The Board of Management expects sales of EUR 8.6 to 9.3 million for the financial year 2021. This would correspond to 
growth of 17 to 27 percent. The new subsidiary Sophrona Solutions, Inc. will make a major contribution to this in its 
first full year as part of the Group. These projections are subject to the proviso that economic developments over the 
course of the year largely correspond to the forecasts at the time of reporting and do not take into account any 
changes in exchange rates. 
Profitability has recently developed encouragingly and consistent cost management is intended to ensure that the ifa 
Group continues to report appropriate earnings in the future. The operating result (EBIT) is expected to be positive 
again in the financial year 2021 and to reach a level of between EUR 0.2 and 0.5 million. Furthermore, a positive 
operating cash flow is to be generated again in the financial year 2021, which will enable ifa to finance the planned 
growth. 
Dates 
Annual Shareholder Meeting April 30, 2021 
Spring Conference (Frankfurt) May 17 - 19, 2021 
Disclaimer 
Statements in this Corporate News relating to future developments are based on our careful assessment of future events. 
The Company's actual results may differ materially from those projected as they depend on a variety of market and 
economic factors, some of which are beyond the Company's control. 
Download 
The Annual Report 2020 is available for download on the internet at https://www.ifasystems.de/ueber-ifa/ 
investor-relations/finanzpublikationen/(German only). 
Contact for queries: 
ifa systems AG 
Augustinusstr. 11b 
50226 Frechen 
[e-mail] 
[phone] 
The company: 
ifa systems AG (ISIN DE0007830788) is a leading global software company specializing in ophthalmology. The software is 
used by ophthalmologists in practices and clinics worldwide. At the heart of its products is an electronic patient 
record (EPR) tailored to ophthalmology, in which all data from examinations and treatments are documented. It provides 
interfaces and APIs to also integrate all data from all hardware and software within the practice or clinic. In 
addition, it enables the integration of software solutions from external partners, such as online appointment 
scheduling, ERP systems and diagnostic systems. Thus, the software has become the integration platform for practices 
and clinics in ophthalmology. With the acquisition of the American company Sophrona Solutions Inc. in 2020, ifa has 
also secured future technology that enables genuine portal applications for doctors to communicate with patients and 
their partner network. In addition, ifa develops and hosts registries for health care research within ophthalmology and 
has various specialized databases that serve research. They are often also part of quality assurance or approval 
processes. The market for ifa's solutions is growing strongly as digitalization in healthcare (e-health) helps to 
provide patients with optimal and efficient care while reducing costs. The shares of ifa systems AG are listed on the 
Basic Board/Open Market of the Frankfurt Stock Exchange. Nexus AG (ISIN DE0005220909) holds 52.6 % of the shares. 
Key figures as of December 31, 2020 
ifa systems Group, acc. to IFRS 
in EUR '000, if not stated otherwise    2016   2017   2018   2019   2020 
Revenue                                8,864  8,553  6,611  9,674  7,303 
own development work capitalized       1,596    824    522    491    454 
Total performance                     11,893  9,592  7,930 10,605  8,147 
EBITDA                                 1,030 -2,942  1,266  3,901  1,620 
EBITDA margin (%)                       8.7%   n.a.  16.0%  36.8%  19.9% 
in relation to total performance 
EBIT                                  -2,216 -7,797    106  1,212    327 
EBIT margin (%)                       -18.6%   n.a.   1.3%  11.4%   4.0% 
in relation to total performance 
Consolidated net income / loss        -2,224 -9,291    740  1,202    157 
Earnings per share (EUR)               -0.81  -3.38   0.27   0.44   0.06 
 
Operating cash flow                    1,222    544    -70  3,366  1,856 
Free cash flow                          -474   -296   -606  2,840 -1,357 
 
Total                                 22,965 20,740 18,588 16,444 17,509 
Shareholders' equity                  15,806  8,267  7,612  8,775  8,923 
Equity ratio (%)                       68.8%  39.8%  41.0%  53.4%   51.0 
 
Employees (average)                       91     73     59     57     60 
Performance per employee                 131    131    134    170    122 
 
Number of shares ('000)                2,750  2,750  2,750  2,750  2,750 ----------------------------------------------------------------------------------------------------------------------- 

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March 05, 2021 01:56 ET (06:56 GMT)