13.03.2017
Mensch und Maschine Software SE DE0006580806
DGAP-News: Mensch und Maschine Software SE discloses final 2016 figures
DGAP-News: Mensch und Maschine Software SE / Key word(s): Final Results
Mensch und Maschine Software SE discloses final 2016 figures
13.03.2017 / 07:54
The issuer is solely responsible for the content of this announcement.
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Preliminary figures confirmed - dividend +40%
- New gross margin, EBITDA and EBIT records
- Guidance renewed - EPS 100 Cents targeted for 2020
Wessling, March 13, 2017 - Mensch und Maschine Software SE (MUM - ISIN
DE0006580806), a CAD/CAM specialist company, during the annual accounts
press conference today confirmed the preliminary 2016 figures which had been
disclosed on February 13, with new gross margin and operating profit records
and strong operating cash flows. Most figures are in fact slightly better
than initially reported.
Sales amounted to EUR 167.07 mln (PY: 160.38 / +4.2%), while gross margin
climbed to a new record of EUR 91.43 mln (PY: 84.52 / +8.2%), with a strong
contribution of EUR 44.73 mln (PY: 39.58 / +13%) from M+M Software. Gross
margin from VAR business was EUR 46.70 mln (PY: 44.94 / +3.9%), thereof EUR
25.73 mln (PY: 22.10 / +16.4%) from M+M services. All in all, gross margin
from proprietary software and services grew by 14.2% to EUR 70.46 mln (PY:
61.68), while due to the current transition from license sale to a rental
model the gross margin from resale of Autodesk software fell to EUR 20.97
mln (PY: 22.84 / -8.2%).
Operating profit EBITDA before depreciation, amortization, interest and
taxes grew to a disproportionate EUR 15.76 mln (PY: 12.81 / +23%), with EUR
10.66 mln (PY: 8.21 / +30%) coming from Software and EUR 5.09 mln (PY: 4.60
/ +11%) from the VAR Business. Due to significantly lower PPA amortisation
the EBIT increase was even higher: Group EBIT climbed to EUR 12.49 mln (PY:
8.47 / +47%). Operating yield increased to 9.4% (PY: 8.0%) for EBITDA and
7.5% (PY: 5.3%) for EBIT.
Net profit after minority shares jumped by 70% to EUR 6.59 mln (PY: 3.87),
or 40 Cents (PY: 24) per share. Net profit includes the non-cash items PPA
amortisation and deferred taxes amounting to EUR -1.73 mln (PY: 2.28) or 11
Cents (PY: 14) per share and negative currency exchange effects amounting to
EUR -0.14 mln (PY: +0.27).
Operating cash flows were EUR 14.64 mln (PY: 14.73) or 90 Cents per share
(PY: 91). Net of a EUR 3 mln non-recurring amount, previous year's strong
cash flows were exceeded by 25%.
Management will propose to the annual shareholders' meeting on May 10 to pay
a dividend increased by 40% to 35 Cents (PY: 25).
M+M CEO Adi Drotleff also gave a short- to medium-term guidance: 'Due to the
retarding effect of Autodesk's transition to rental by the end of July, the
year 2017 is expected to start slightly slower and like 2016 to come in
rather at the lower end of the long-standing growth spectrum. We target 2017
gross margin growing by 7-8% to EUR 98-99 mln, EBITDA at EUR 17.5 to 18.5
mln (+11-17%) and net result at EUR 8.5 to 9.3 mln (+29%-41%) or 52-57 Cents
per share. In 2018 we expect a strong growth rebound in the VAR Business,
hence group gross margin to grow by 11-12% to approx. EUR 110 mln, EBITDA
adding approx. EUR 4 mln to approx. EUR 22 mln and net result coming in
around EUR 11.5 mln or 70 Cents/share. From 2019 onwards an annual EUR 3-4
mln EBITDA increase is targeted to correspond with an annual EUR 2-3 mln /
13-20 Cents per share net profit improvement, so by 2020 net profit should
reach one Euro per share.'
Assuming we achieve these targets we plan to raise the dividend for the year
2017 to 45-50 Cents, for 2018 to approx. 60 Cents and then annually by
additional 10-15 Cents.
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13.03.2017 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
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Language: English
Company: Mensch und Maschine Software SE
Argelsrieder Feld 5
82234 Wessling
Germany
Phone: +49 (0)815 3933-0
Fax: +49 (0)815 3933-100
E-mail: [email protected]
Internet: www.mum.de
ISIN: DE0006580806
WKN: 658 080
Listed: Regulated Unofficial Market in Berlin, Dusseldorf,
Hamburg, Munich (m:access), Stuttgart, Tradegate Exchange;
Open Market (Scale) in Frankfurt
End of News DGAP News Service
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553231 13.03.2017
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