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    SIM   DK0060495240

SIMCORP A/S

(SIM)
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Delayed Quote. Delayed Nasdaq Copenhagen - 06/16 10:59:44 am
794.8 DKK   +0.40%
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SimCorp A/S : EMEA Signs non-binding Term Sheet with State Street Bank International GmbH

10/12/2020 | 01:33am EDT

Company Announcement no. 38/2020

SimCorp EMEA and its current client State Street Bank International GmbH have today signed a non-binding Term Sheet setting out the main terms for entering into a strategic business partnership between the parties. The intention being to form a business partnership to provide a premier, fully integrated, front-to-back investment outsourcing solution for insurance firms in Europe, Middle East and Africa (EMEA).

If and when the Term Sheet translates into a final strategic agreement, such agreement will become a "large contract" and SimCorp will disclose a company announcement about this.

If the Term Sheet as expected translates into a final strategic agreement in 2020, SimCorp expects to report revenue growth and EBIT margin measured in local currencies for 2020, at the higher end of the financial outlook range announced in its Q2 2020 interim report: Revenue growth measured in local currencies is expected to be between -5% and 5%, and the expectation for EBIT margin measured in local currencies is between 22.0% and 27.0%. This is primarily due to the fact that a final strategic agreement is expected to include a conversion from the existing perpetual license agreement with State Street, to a new subscription-based license agreement with up-front revenue recognition of the license part.

For more information on the strategic partnership, reference can be made to the joint press release, which will follow this company announcement.


Enquiries regarding this announcement should be addressed to:

Anders Hjort, Head of Investor Relations, SimCorp A/S +45 3544 8822

Mittal Shah, Head of PR, SimCorp +001 (646) 843 1707

© OMX, source OMX

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Financials
Sales 2021 495 M 600 M 600 M
Net income 2021 101 M 122 M 122 M
Net cash 2021 51,7 M 62,6 M 62,6 M
P/E ratio 2021 42,0x
Yield 2021 1,04%
Capitalization 4 214 M 5 111 M 5 104 M
EV / Sales 2021 8,41x
EV / Sales 2022 7,65x
Nbr of Employees 1 904
Free-Float 97,3%
Chart SIMCORP A/S
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Technical analysis trends SIMCORP A/S
Short TermMid-TermLong Term
TrendsNeutralNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 6
Average target price 101,31 €
Last Close Price 106,34 €
Spread / Highest target 17,6%
Spread / Average Target -4,73%
Spread / Lowest Target -36,8%
EPS Revisions
Managers and Directors
NameTitle
Klaus Holse Chief Executive Officer
Michael Rosenvold Chief Financial Officer
Peter SchŘtze Chairman
Thomas Hejlsberg Chief Technology Officer & Senior Vice President
Christian Peter Kromann Chief Operating Officer
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