Company Announcement no. 39/2020
Q3 2020 highlights:
- In Q3 2020, four new SimCorp Dimension deals were signed, of which
- Two deals were included in order intake and revenue
- One deal was included in order intake, but revenue recognition has been deferred
- For one deal, both order intake and revenue recognition have been deferred.
- Order intake was
EUR 21.7m , an increase ofEUR 2.6m or 13.6% compared with Q3 2019. - Reported revenue was
EUR 100.2m , a decrease of 14.7% compared with Q3 2019, due to a very strong Q3 2019 and revenue recognition of two new license deals being deferred. - EBIT was
EUR 22.4m and EBIT margin was 22.3% compared with EBIT ofEUR 35.2m and EBIT margin of 30.0% in Q3 2019. - Free cash flow was
EUR 17.7m , a decrease of 16.7% compared with Q3 2019. - On
August 12 ,SimCorp announced that it had completed the next phase in its cloud transformation, now offering SimCorp Dimension as a Service, on Microsoft Azure.
9M 2020 highlights:
- In 9M 2020, seven new SimCorp Dimension and three new stand-alone SimCorp Coric license deals were signed, of which
- Six deals were included in order intake and revenue
- One deal was included in order intake, but revenue recognition has been deferred
- For three deals, both order intake and revenue recognition have been deferred.
- Order intake was
EUR 58.5m , a decrease ofEUR 4.6m or 7.3% compared with 9M 2019. - On
September 30, 2020 , the order book amounted toEUR 43.8m , an increase ofEUR 8.8m compared with the order book at the same date last year. - Reported revenue was
EUR 309.8m , a decrease of 5.2% compared with 9M 2019, due to a very strong 9M 2019 and revenue recognition of four new license deals being deferred. - EBIT was
EUR 65.9m compared withEUR 93.9m in 9M 2019. - EBIT margin was 21.3% compared with 28.7% in 9M 2019.
- Net profit was
EUR 45.7m compared withEUR 72.6m in 9M 2019. - Free cash flow was
EUR 70.5m , an increase of 6.8% compared with 9M 2019. SimCorp entered Q4 2020 withEUR 399m of the full year’s revenue signed, which is at the same level as at the same time last year.
Subsequent events:
- Since the closing of Q3 2020, two SimCorp Dimension contracts and one new SimCorp Coric contract have been signed.
- On
October 12 ,SimCorp andState Street Bank International GmbH announced a non-binding Term Sheet to form a business partnership to provide a premier, fully integrated, front-to-back investment outsourcing solution, for insurance firms in EMEA.
Financial guidance 2020:
SimCorp maintains its expectations for revenue growth and EBIT margin measured in local currencies for 2020 as announced in its Q2 interim report and company announcement datedOctober 12, 2020 .- 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%.
- Approximately 1.5%-points (previously 2%-point) of the expected revenue growth is related to the acquisition of AIM Software, and the acquisition is expected to impact the EBIT margin negatively by approximately 1%-point, implying an expected organic revenue growth of between -6.5% and 3.5% (previously between -7% and 3%) and an EBIT margin of between 23.0% to 28.0%.
Investor presentation
SimCorp’s Executive Management Board will present the report at a conference call on
From | +45 32720417 |
From | +1 6467413167 |
From other countries: | +44 (0) 2071 928338 |
Pin code to access the call: | 6677753 |
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/9g6c46eg
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:
Media contact:
Mittal Shah, PR Manager – SimCorp
Attachment
- 2020_11_12_Company Announcement Q3 2020
© OMX, source