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OFFON

SNP SCHNEIDER-NEUREITHER & PARTNER SE

(SHF)
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SNP Schneider Neureither & Partner : Half-Year Financial Report Q2/2021

08/10/2021 | 01:40am EDT

HALF-YEAR FINANCIAL REPORT

2021

SNP I The Data Transformation Company

2

KEY FIGURES

as of June 30, 2021

1st half-year

1st half-year

2nd quarter

2nd quarter

in € million

2021

2020

2021

2020

Order entry

91.9

92.8

39.4

45.2

Revenue

75.7

68.7

42.6

34.3

EBITDA

2.9

-0.8

3.8

1.2

EBIT

-1.1

-4.7

1.7

-0.8

Consolidated income

-2.1

-4.2

0.4

-0.9

Earnings per share (in €)

-0.27

-0.62

0.08

-0.10

Operating cash flow

-12.9

-1.8

Cash and cash equivalents

27.7

22.7

Employees as of June 30

1,576

1,449

HALF-YEAR FINANCIAL REPORT 2021

3

CONTENT

4 Letter of the CEO

7 SNP in the Capital Markets

INTERIM GROUP MANAGEMENT REPORT

  1. SNP - The Data Transformation Company
  2. Economic Report
  3. Significant Events in the First Half of 2021
  4. Financial Position and Financial Performance

CONSOLIDATED FINANCIAL STATEMENTS

19 Consolidated Balance Sheet

  1. Consolidated Income Statement
  2. Consolidated Statement of Comprehensive Income
  3. Consolidated Cash Flow Statement
  4. Consolidated Statement of Changes in Equity
  5. Notes to the Consolidated Interim Financial Statements
  6. Accounting and Measurement Methods
  7. Acquisitions / Business Combinations

29 Segment Reporting

  1. Responsibility Statement
  2. Review report

FURTHER INFORMATION

  1. Disclaimer
  1. Contact

4

LETTER OF THE CEO

Dear shareholders,

Dear friends of the company,

Our results for the first six months of the year demonstrate that our company is in good shape in spite of the ongoing pressures of the coronavirus. This is documented by our current order situation as well as our revenue and earnings trends:

  • The Group-wideorder entry of around € 93 million in the first half of 2021 was almost in line with the previous year's level. The Software business segment accounts for over a third of this.
  • In the first six months of the year, Group revenue in- creased by 10% on the previous year to approx. € 76 million.
  • The trend for operating earnings is also clearly posi- tive, both year-over-year and over the course of the cur- rent year, even though this value is still negative at € -1.1 million.

Buoyed by an attractive pipeline, our results for the first six months of the year confirm our goal of achieving our growth targets for the year as a whole.

Our growth plans are based especially on our partner strat- egy, through which we intend to significantly expand our overall revenue volume by increasing our software reve- nue. It is not just for this reason that we are currently extending our software portfolio to include Datavard AG's technological solutions. We acquired Datavard because the two portfolios complement each other perfectly in both the software and the consulting business segments. To date, Datavard and SNP have been partners as well as competitors; in the future, we will operate as one company on the market.

We are funding roughly two thirds of this acquisition with our existing liquidity. We will cover an additional third through a capital increase against a contribution in kind. The roughly 173,000 SNP shares newly created will be issued to

Gregor Stöckler, CEO of Datavard AG, as well as two other Datavard co-founders. These new shares are subject to a three-yearlock-up period. In addition, Gregor Stöckler is to become SNP's new COO as well as a Managing Director.

Besides the fact that our software is increasingly gaining strategic recognition from customers and partners, dynamic market growth is a key factor in SNP's corporate success. We are firmly convinced that the effects of the coronavirus pandemic will strengthen the megatrend of the digitalization of entire business models. Every international business with a group structure and SAP systems will sooner or later be faced with the issues of SAP S/4HANA, the move to the cloud and/or M&A activities. The effects of the coronavirus pandemic are serving as a catalyst here, which will result in a significant increase in the number of projects associated with data transformations.

In the area of S/4HANA, the time window continues to close, even if the end of maintenance for old SAP systems

HALF-YEAR FINANCIAL REPORT 2021

5

in 2027 still appears to be far off. Many businesses are aware that waiting is not an option, since these projects are generally more complex and time-intensive than originally expected. Additional changes are frequently neces- sary, such as acquisitions and sales and the integration of other companies.

The pandemic has made the need to emphasize software platforms within the scope of the digitalization process even clearer. Customers initially postponed S/4HANA transitions in some cases, so as to adapt their business models to the challenges presented by the pandemic. Unlike in the pre-pandemic age, many large corporations have already made the necessary preparations and have launched concrete implementation projects. We expect this trend to strengthen considerably in the second half of the year and beyond.

In the M&A market we assume that, following some initial restraint, volumes will pick up significantly as the pandemic wanes. Many companies are working on a changeover or adjustment of their business model in line with the current trends and requirements in their industry.

While Europe - and Germany especially - was long characterized by a cautious attitude to transferring IT systems to the cloud, this trend is now reversing. We are witnessing a very high level of customer interest in moving their systems to the cloud; the key factors here are, in particular, reducing costs and risks, increasing scalability and the market readiness of hyperscaler offerings.

Together with world-leading hyperscalers such as Micro- soft, Google or Amazon Web Services, we are working on joint solution components in order to achieve an accelerated and cost-efficient transfer of customers' SAP workloads to the cloud.

All in all, these trends confirm our strategy and our goal of fundamentally changing the IT consulting market through the increasing use of software-supported data transformation in the SAP environment. With this, we want to develop our approach to become the industry standard.

In order to realize this goal, we have defined an agenda which we are consistently pursuing:

  • At our management level, we have a new Board of Di- rectors which has a strong balance of different areas of expertise and intends to successfully lead SNP into its new growth phase.
  • At the technological level, we are currently adding a value calculator to our CrystalBridge data transformation platform. This means that in the future, we will be able to demonstrate even more effectively to our customers and partners the financial benefits of using SNP soft- ware for their transformation projects. It provides deci- sion-makers with a very direct picture of the benefits and savings associated with reducing project terms and risks and implementing individual projects alongside one another, for instance.

This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

SNP Schneider-Neureither & Partner SE published this content on 10 August 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 August 2021 05:40:04 UTC.


© Publicnow 2021
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Financials
Sales 2021 173 M 201 M 201 M
Net income 2021 7,51 M 8,74 M 8,74 M
Net Debt 2021 41,9 M 48,7 M 48,7 M
P/E ratio 2021 45,7x
Yield 2021 0,12%
Capitalization 346 M 403 M 403 M
EV / Sales 2021 2,24x
EV / Sales 2022 1,88x
Nbr of Employees 1 576
Free-Float 58,3%
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Number of Analysts 3
Last Close Price 48,76 €
Average target price 70,33 €
Spread / Average Target 44,2%
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Managers and Directors
Michael Eberhardt Chief Executive & Operating Officer
Heiner Diefenbach Chief Financial Officer
Claus E. Heinrich Chairman
Herbert Schuster Chief Information Officer
Steele Arbeeny Chief Technology Officer
Sector and Competitors