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MarketScreener Homepage  >  Equities  >  NASDAQ OMX COPENHAGEN  >  SimCorp A/S    SIM   DK0060495240

SIMCORP A/S

(SIM)
  Report
Real-time Estimate Quote. Real-time Estimate CHI-X - 11/25 07:11:53 am
774.25 DKK   +0.29%
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SimCorp A/S : reports revenue of EUR 210m and EBIT margin of 21% in H1...

08/12/2020 | 02:03am EST

Q2 2020 Highlights:

  • Reported revenue was EUR 106.7m, a decrease of 2.6% when compared with Q2 2019.
  • EBIT was EUR 26.0m and EBIT margin was 24.4% compared with the strong EBIT of EUR 32.3m and EBIT margin of 29.5% in Q2 2019.
  • In Q2 2020, one new SimCorp Dimension and two new SimCorp Coric orders were signed. For two of the new orders, order intake and revenue recognition have been deferred until certain conditions are met.
  • Order intake was EUR 16.9m, a decrease of EUR 5.7m or 25% compared with Q2 2019.
  • Free cash flow was EUR 20.4m, an increase of 8% when compared with Q2 2019.
  • Reported revenue of EUR 209.7m was at the same level as in H1 2019. Measured in local currencies, and excluding M&A activities, the organic revenue declined by 3.2% when compared with H1 2019.
  • EBIT was EUR 43.5m compared with EUR 58.7m in H1 2019.
  • EBIT margin was 20.8% compared with the strong EBIT margin of 28.0% in H1 2019. Organic EBIT margin was 22.2%.
  • Net profit was EUR 31.6m compared with EUR 43.3m in H1 2019.
  • Total order intake from new and add-on licenses was EUR 36.8m compared with EUR 44.0m in H1 2019. We welcomed six new clients in H1 2020. For two of the new clients, order intake has been deferred until certain conditions are met.
  • On June 30, 2020, the order book amounted to EUR 39.1m, an increase of EUR 0.9m when compared with the order book on December 31, 2019.
  • Free cash flow was EUR 52.8m, an increase of 18% when compared with H1 2019.
  • On May 11, 2020, SimCorp announced its entry into the South African market, with a primary focus on servicing local asset managers, state pension funds, and sovereign wealth funds.
  • On June 9, 2020, SimCorp announced the merger of its European market units, Central Europe, Southern Europe, and UK/Northern Europe/Middle East, into one integrated EMEA unit. The move is designed to support SimCorp's growth ambitions, by developing closer client relationships across borders and achieving greater scale and agility in key business functions.
  • SimCorp has signed its first North American client development partner for SimCorp Coric Engage, a state-of-the-art client reporting SaaS portal built on Microsoft Azure. At a low cost of ownership for SimCorp clients, the next-generation self-service portal provides investors with digital insights and engagement analytics. It is also our first private equity client, opening up a new market segment for Coric.
  • In June, SimCorp received the award for Best Buy-Side Enterprise Solution at the FTF News Technology Innovation Awards 2020, recognizing SimCorp as the market-leading, front-to-back solution, helping the global buy side to achieve operational excellence.

SimCorp CEO, Klaus Holse, comments: 'The solid performance delivered in Q2 was powered by strong sales to existing clients as well as adding three new clients, two in North America and one in Europe. Having achieved these results despite the disruption caused by the Covid-19 pandemic demonstrates the importance of a resilient operating model and a committed team. While people, processes, and technology have all been challenged across our industry, it has been impressive to see how SimCorp's innovative solution delivery and business continuity have been sustained through a time of significant market volatility and with a workforce largely working from home. This is the ultimate test of resilience, and I would like to express my sincere thanks to our loyal clients and highly committed employees who have made this possible.'


Investor presentation

SimCorp's Executive Management Board will present the report on a conference call Wednesday, August 12, 2020 at 11 am (CEST). Please use any of the following phone numbers to dial in to the conference call:

From Denmark: +45 3272 0417
From USA: +1 646 741 3167
From other countries: +44 (0) 2071 928338
Pin code to access the call: 3775902

At the end of the presentation there will be a Q&A session. It will also be possible to follow the presentation via this link: https://edge.media-server.com/mmc/p/cxna9dq4.

The presentation will be available prior to the conference call via SimCorp's website http://www.simcorp.com/en/about/investor/presentations-and-events/quarterly-and-annual-investor-meetings.

Enquiries regarding this announcement should be addressed to:
Investor contacts:

Klaus Holse, Chief Executive Officer, SimCorp A/S (+45 3544 8800, +45 2326 0000)
Michael Rosenvold, Chief Financial Officer, SimCorp A/S (+45 3544 8800, +45 5235 0000)Anders Hjort, Head of Investor Relations, SimCorp A/S (+45 3544 8822, +45 2892 8881)

Media contact:

Mette Trier, Communications Principal, SimCorp A/S (+45 4060 8296)
Mittal Shah, PR Manager - SimCorp UK, North America, Asia Pacific (+44 (0)207 397 8072)

Company Announcement no. 37/2020

Disclaimer

SimCorp A/S published this content on 12 August 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 12 August 2020 06:02:19 UTC


© Publicnow 2020
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Financials
Sales 2020 465 M 554 M 554 M
Net income 2020 91,9 M 109 M 109 M
Net cash 2020 11,5 M 13,7 M 13,7 M
P/E ratio 2020 44,9x
Yield 2020 0,92%
Capitalization 4 108 M 4 886 M 4 888 M
EV / Sales 2020 8,81x
EV / Sales 2021 7,98x
Nbr of Employees 1 906
Free-Float 97,6%
Chart SIMCORP A/S
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Technical analysis trends SIMCORP A/S
Short TermMid-TermLong Term
TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus UNDERPERFORM
Number of Analysts 6
Average target price 102,09 €
Last Close Price 103,63 €
Spread / Highest target 23,1%
Spread / Average Target -1,48%
Spread / Lowest Target -35,2%
EPS Revisions
Managers
NameTitle
Klaus Holse Chief Executive Officer
Peter Schütze Chairman
Christian Peter Kromann Chief Operating Officer
Michael Rosenvold Chief Financial Officer
Hervé Pierre André Couturier Independent Director
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