Softing AG: Increase of incoming orders, revenue and net profit especially in Q2 and first half-year 2018
Haar, 14 August 2018: Softing AG (ISIN: DE0005178008, Prime Standard) increased revenue (+9.5%) to EUR 21.4 million and net profit (+165%) to EUR 0.9 million in the second quarter this year significantly and benefitted from the improved quality of the operational business in all three segments. The significant increase in incoming orders (+31%) to EUR 23.3 million in the second quarter is based already on newly developed products and services.
The Softing Group’s consolidated revenue in the first six months of 2018 rose slightly by EUR 0.5 million to EUR 39.9 million. The Group’s EBITDA totaled EUR 3.3 million in the first six months (previous year: EUR 3.1 million), again resulting in an EBITDA margin of 8 %. EBIT amounted to EUR 1.1 million (previous year: EUR 1.0 million). The resulting consolidated net profit for the first half-year 2018 rose to EUR 0.9 million compared with EUR 0.6 million in the prior-year period.
Softing confirms the Group’s guidance for the fiscal year 2018: Overall, the Management Board expects both revenue and incoming orders to grow moderately to EUR 80 million. EBIT is expected to reach EUR 4.0 million, while operating EBIT is expected to come in at EUR 3.7 million. In seasonal terms, once again expect the fourth quarter will prove to be the strongest quarter. These statements relate to the Softing Group without the acquisition of GlobalmatiX AG. GlobalmatiX AG is likely to contribute approximately EUR 0.8 million of additional revenue and an EBIT of up to EUR -1.0 million.
At segment level, a slight increase in revenue, EBIT and operating EBIT in both the Industrial and IT Networks segments will be expected. EBIT and operating EBIT in the Automotive segment is expected to improve considerably as a result of the cost reduction measures introduced. Generally speaking, both revenue and EBIT will benefit disproportionately towards the end of the year from product innovations in the Industrial segment and the launch of new, high-margin products in the IT Networks and Automotive segments.
“This seasonality, with product purchasing, delivery and invoicing increasingly shifting into the fourth quarter is a trend, we are expecting to smooth out steadily from 2019 onwards as a result of our new business model with predictable recurring revenue”, Dr. Wolfgang Trier, CEO of Softing AG, positively strengthens the encouraging development in the first six months this year and even more so in the years to come, starting in 2019.
Financial key figures at a glance
|EUR 000'||+/- Q2||+/- H1|
|Q2 / 2018||Q2 / 2017||2017/2018||H1 / 2018||H1 / 2017||2017/2018|
|Incoming orders||23,255||17,766||+ 30.9 %||44,385||39,548||+ 12.2 %|
|Revenue||21,418||19,568||+ 9.5 %||39,932||39,372||+ 0.1 %|
|EBITDA (IFRS)||1,935||1,620||+ 19.4 %||3,336||3,130||+ 6.6 %|
|EBIT (IFRS)||694||550||+ 26.2 %||1,082||1,008||+ 7.3 %|
|Operating EBIT||777||35||> 1,000 %||579||362||+ 59.9 %|
|net profit (IFRS)||897||339||+ 165 %||941||630||+ 49.4 %|
|EPS in EUR (IFRS)||0.12||0.05||+ 140 %||0.12||0.09||+ 33.3 %|
The Executive Board
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