DGAP-Adhoc: ATOSS Software AG: Excellent business developments in Q1 2020
DGAP-Ad-hoc: ATOSS Software AG / Key word(s): Quarter Results ATOSS Software AG: Excellent business developments in Q1 2020 - Sales revenues grow by 17 percent - Software revenues up by 9 percent - Recurring revenues climb to 77 percent as a share of software income - EBIT margin stands at around 26 percent - Outlook for 2020 updated to take the estimated effects of the corona crisis into account Munich, April 16, 2020 Provisional figures show that ATOSS Software AG can look back on record figures for the first quarter. Once again, in Q1 2020, the Munich-based workforce management specialist has successfully continued the strong business growth recorded in the previous year. Overall sales increased by a substantial 17 percent to stand at EUR 19.8 million (previous year: EUR 16.9 million). Software revenues were up by 9 percent in total relative to the previous year to reach EUR 11.8 million (previous year: EUR 10.8 million). Due in particular to the development in the cloud business, the proportion of recurring revenues rose significantly by 8 percent relative to the year before to reach 77 percent (previous year: 69 percent). Within the revenues from software, only on-premises licenses showed a decline relative to the preceding year, slipping to EUR 2.7 million (previous year: EUR 3.4 million). The development in the order situation was particularly impressive under the current circumstances. While orders on hand for software licenses more than doubled as of 31.03.2020, reaching EUR 11.0 million (previous year: EUR 5.0 million), ATOSS recorded double-digit growth of 78 percent in Annual Recurring Revenue (ARR), the key figure that is essential in directing the cloud business area, which climbed to EUR 9.8 million (previous year: EUR 5.5 million). ARR represents the turnover generated by the company over the next 12 months on the basis of current monthly cloud usage fees applicable as of the qualifying date. In view of these highly gratifying business developments, the company again anticipates a substantial improvement in operating profits (EBIT) over the prior year figures, with an EBIT margin of around 26 percent. The company will publish further details on April 27, 2020 as part of its Q1 quarterly announcement. Based on the excellent order situation as of 31.03.2020, characterized by the particularly strong order book for software licenses and a high share of recurring revenues, despite the current circumstances the company keeps an overall sales target of around EUR 80 million for the year 2020 (previous year: EUR 71.4 million). Given the economic effects of the corona crisis, ATOSS expects to see a temporary moderate deceleration in orders in Q2, which, however, should be followed by an improvement in Q3 and a return largely to normal conditions in Q4. Against this background, the company now anticipates a full-year EBIT margin of approx. 25 percent. The complete figures for the 1st quarter of 2020 will be published on April 27, 2020.
Contact ATOSS Software AG
16-Apr-2020 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. |
Language: | English |
Company: | ATOSS Software AG |
Rosenheimer Str. 141 h | |
81671 München | |
Germany | |
Phone: | +49 (0)89 4 27 71-0 |
Fax: | +49 (0)89 4 27 71-100 |
E-mail: | [email protected] |
Internet: | www.atoss.com |
ISIN: | DE0005104400 |
WKN: | 510440 |
Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange |
EQS News ID: | 1022789 |
End of Announcement | DGAP News Service |
|
1022789 16-Apr-2020 CET/CEST
ATOSS Software AG Stock
The community is currently still undecided about ATOSS Software AG with 2 Buy predictions and 0 Sell predictions.
As a result the target price of 260 € shows a very positive potential of 90.34% compared to the current price of 136.6 € for ATOSS Software AG.