DGAP-News: ATOSS Software AG: Strong demand and personnel fluctuations during corona crisis heighten relevance of workforce management
DGAP-News: ATOSS Software AG
/ Key word(s): Quarterly / Interim Statement
ATOSS Software AG has started the new year by breaking records in the first quarter. The Munich headquartered workforce management specialist boosted sales in the first three months to EUR 19.8 million, a significant rise of 17 percent. The order book showed particularly impressive growth in view of orders received standing at EUR 11.0 million, more than double the figure for the previous year, and Annual Recurring Revenue, used as a control metric for the cloud business, rising 78 percent to EUR 9.8 million. Munich, 27 April 2020 For example, sales of software in the period from January to March 2020 saw a significant rise of 9 percent, up to EUR 11.8 million (previous year: EUR 10.8 million). This equates to a 60 percent share of the Group's total sales (previous year: 64 percent). The largest boost to growth within software revenues came from recurring sales with cloud solutions which jumped 73 percent to EUR 2.7 million (previous year: EUR 1.6 million). The consistently positive development of software maintenance over the last few years was also sustained. Sales in this area rose 9 percent to EUR 6.4 million (previous year: EUR 5.9 million). Overall, recurring sales as a proportion of software revenues increased appreciably by 8 percent to 77 percent (previous year: 69 percent). Sales from consulting services climbed by 25 percent to EUR 6.2 million, a significant year-on-year increase (previous year: EUR 4.9 million). Hardware sales generated revenue of EUR 1.2 million in the first quarter (previous year: EUR 0.8 million), while other sales amounted to EUR 0.5 million (previous year: EUR 0.4 million). Operating earnings improved 11 percent to EUR 5.1 million compared with EUR 4.6 million in the previous year. This was in line with expectations and it was achieved in spite of a significant year-on-year rise in personnel costs resulting from capacity expansion, primarily in the Customer Services and Support as well as the Research and Development departments. ATOSS earned EUR 0.86 per share in the first quarter (previous year: EUR 0.80). The order book performance is particularly impressive given the present general conditions. Besides more than doubling orders for software licenses to EUR 11.0 million as at 31.03.2020 (previous year: EUR 5.0 million), the crucial metric for controlling in the cloud business - Annual Recurring Revenue (ARR for short) - also enjoyed double-digit growth, rising to EUR 9.8 million (previous year: EUR 5.5 million), an increase of 78 percent. ARR stands for the sales generated by the company within the next 12 months on the basis of monthly cloud usage fees applicable on the closing date. Against the background of ATOSS' leading position in the workforce management market, a successful first quarter and a business model that generates growth - also in times of crisis such as the last economic slump in 2008/2009 - the Management Board continues to view the future in positive terms. Thanks to its excellent order book as at 31.03.2020, characterized by the particularly strong order intake for software licenses and a high share of recurring sales, the company continues to expect total sales for 2020 to be recorded at around EUR 80 million (previous year: EUR 71.4 million) in spite of the present situation. ATOSS is anticipating a modest dip in orders in Q2 due to the economic effects of the corona crisis, with orders picking up again in Q3 and largely returning to normal in Q4. Against this background, the company is now expecting an EBIT margin for the entire year of around 25 percent.
CONSOLIDATED OVERVIEW AS PER IFRS: QUARTERLY COMPARISON IN KEUR
(1) Cash and cash equivalents, other current and non-current financial assets (sight deposits, gold) as of the qualifying date, adjusted to exclude borrowings (loans) ATOSS ATOSS Software AG is a provider of technology and consulting solutions for professional workforce management and demand-optimized workforce deployment. Whether conventional time management, mobile apps, detailed workforce forecasting, sophisticated workforce scheduling or strategic capacity and requirement planning, ATOSS has just the right solution - both in the cloud and on-premises. The modular product families feature the very highest level of functionality, browser-based high-end technology and platform independence. With more than 8,000 customers in 42 countries, ATOSS workforce management solutions make a measurable contribution to increased value creation and competitiveness. At the same time, they ensure greater planning fairness and satisfaction at the workplace. Customers include companies such as ALDI SÜD, Coca-Cola, Deutsche Bahn, Douglas, Edeka, HUK-COBURG, Klinikum Leverkusen, Lufthansa, MEYER WERFT, Schmitz Cargobull, Sixt, Stadt Regensburg, thyssenkrupp Packaging Steel and W.L. Gore & Associates. Further information: www.atoss.com ATOSS Software AG Christof Leiber / Member of the Management Board
27.04.2020 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. |
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: | 1029871 |
End of News | DGAP News Service |
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1029871 27.04.2020
ATOSS Software AG Stock
Based on 2 Buy predictions and 1 Sell predictions the sentiment towards ATOSS Software AG is rather balanced.
As a result the target price of 207 € shows a very positive potential of 73.95% compared to the current price of 119.0 € for ATOSS Software AG.