Company Announcement no. 23/2022
Q1 2022 highlights- Total order intake of
EUR 26.0m was more than double the EUR 12.6m signed in the same period last year, primarily due to early renewals of two subscription agreements in North America (NA) where revenue will be recognized in Q1 2023 and in 2027, respectively. -
In Q1 2022, two new SimCorp Dimension deals in Luxembourg and NA and one new SimCorp Sofia deal in
Italy were signed. In addition, we welcomed three new clients through our existing outsourcing partners, and three Investment Accounting Services (IAS) deals were signed. No revenue was recognized in Q1 on the NA and IAS deals. -
At
March 31, 2022 , the order book amounted to EUR 81.5m , an increase of EUR 32.4m when compared with the order book at March 31, 2021 , and an increase of EUR 8.5m when compared with the order book at December 31, 2021 . -
Annual Recurring Revenue (ARR) for the last twelve months covering the period Q2 2021-Q1 2022 was
EUR 283.2m , an increase of 10.4% when compared with the period Q2 2020-Q1 2021, and an organic increase of 9.7% when measured in local currencies, due to solid growth in SaaS revenue. -
Reported revenue was
EUR 114.7m , an increase of 4.3% when compared with a particularly strong Q1 2021, and an organic increase of 4.1% when measured in local currencies. In Q1 2021, two SimCorp Dimension subscription order renewals in North America , signed in 2020, were recognized as revenue, positively impacting both revenue and EBIT in Q1 2021. -
EBIT of
EUR 15.5m was as expected lower than EUR 23.9m in Q1 2021 due in large part to investments in the future, including investments in new SaaS operations and solutions. -
EBIT margin was 13.5% compared with 21.8% in Q1 2021. The EBIT margin measured in local currencies was 13.4%.
-
Net profit was
EUR 13.3m compared with EUR 20.2m in Q1 2021. -
Free cash flow was
EUR 20.1m compared with EUR 39.4m in Q1 2021. The decrease was due to lower profit and timing of invoicing and payments, which led to higher receivables and higher paid income and salary related taxes in Q1 2022.
Subsequent events- Since the closing of Q1 2022, one new SimCorp Sofia deal in
Italy and a strategic partnership Memorandum of Understanding with a leading investment manager and existing client in APAC have been signed.
Financial guidance 2022SimCorp maintains its expectations for 2022 as announced in its Annual Report 2021, i.e. the expectations for 2022 are to grow revenue in local currencies by between 7% and 12%, and to grow Annual Recurring Revenue (ARR) in local currencies by between 10% and 15%, and to generate an EBIT margin measured in local currencies of between 23.0% and 26.0%, excluding expected exceptional costs of EUR 3-5m in 2022 in relation to supporting our Ukrainian employees and their families.
- Since the closing of Q1 2022, one new SimCorp Sofia deal in
Italy and a strategic partnership Memorandum of Understanding with a leading investment manager and existing client in APAC have been signed.
Financial guidance 2022SimCorp maintains its expectations for 2022 as announced in its Annual Report 2021, i.e. the expectations for 2022 are to grow revenue in local currencies by between 7% and 12%, and to grow Annual Recurring Revenue (ARR) in local currencies by between 10% and 15%, and to generate an EBIT margin measured in local currencies of between 23.0% and 26.0%, excluding expected exceptional costs of EUR 3-5m in 2022 in relation to supporting our Ukrainian employees and their families.
Management's report for the three months ended
Investor presentation
From | +45 3272 0417 |
From | +1 646 741 3167 |
From other countries: | +44 (0) 2071 928338 |
Pin code to access the call: | 4698290 |
At the end of the presentation there will be a Q&A session.
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- The presentation will be available prior to the conference call via
SimCorp's website
www.simcorp.com/en/about/investor/presentations-and-events/quarterly-and-annual-investor-meetings
Enquiries regarding this announcement should be addressed toInvestor contacts
Media contacts
Tobias Brun-Falkencrone, Group Communications Director,
https://news.cision.com/simcorp/r/simcorp-reports-solid-order-intake--arr--ltm--growth-of-10-4--revenue-growth-of-4-3--and-ebit-margin,c3570358
https://mb.cision.com/Main/20103/3570358/1581854.pdf
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