DGAP-News: Mensch und Maschine Software SE / Key word(s): Final Results Mensch und Maschine Software SE discloses final 2015 figures 14.03.2016 / 08:01 The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- Preliminary figures confirmed - dividend +25% - 2016: EPS doubling to approx. 50 Cents expected Wessling, March 14, 2016 - Mensch und Maschine Software SE (MUM - ISIN DE0006580806), a CAD/CAM specialist company, during the annual accounts press conference today confirmed the preliminary 2015 figures which had been disclosed on February 15, with double digit increases for sales and gross margin as well as a disproportionate growth in purely operating EBITDA. Most figures are in fact slightly better than initially reported. Group sales 2015 was EUR 160.38 mln (PY: 140.02 / +14.5%), with M+M Software contributing EUR 41.44 mln (PY: 38.50 / +7.6%) and the VAR Business contributing EUR 118.94 mln (PY: 101.52 / +17%). Gross margin climbed to EUR 84.52 mln (PY: 74.66 / +13%), with contributions of EUR 39.58 mln (PY: 36.58 / +8.2%) from Software and EUR 44.94 mln (PY: 38.08 / +18%) from VAR Business. Operating profit EBITDA before depreciation, amortization, interest and taxes climbed to EUR 12.81 mln (PY: 10.87 / +18%), with EUR 8.21 mln (PY: 7.21 / +14%) from Software and EUR 4.60 mln (PY: 3.66 / +26%) from the VAR Business. After adjusting the 2014 result by the final EUR 3 mln earnout from the 2011 sale of the Distribution business, group EBITDA on a purely operating basis increased by EUR 4.94 mln or a remarkable 63% - the initial growth target had been between EUR 3 and 4 Million. EBITDA margin climbed to 19.8% (PY: 18.7%) in the Software segment and to 3.9% (PY: 3.6% nominally or 0.6% purely operating) in the VAR Business. In the group EBITDA margin came in at 8.0% (PY: 7.8% nominally or 5.6% purely operating). Net profit after minority shares remained level at EUR 3.87 mln (PY: 3.72), or 24 Cents (PY: 24) per share, as expected, because EUR 2.02 mln amortisation on purchase price allocation (PPA), not eligible for tax deduction, pushed the tax rate to 43.3% (PY: 26.3%). This effect had been dampened by deferred tax credits in previous years and will not recur, as the majority of PPA has been written off by the end of 2015. Operating cash flows were more than doubled to a new record level of EUR 14.73 mln (PY: 6.29). Compared to the previous year, the 134% increase was even higher than preliminarily reported. Management will propose to the annual shareholders' meeting to pay a dividend increased by 25% to 25 Cents (PY: 20). While during the past 10 years EUR 1.55 per share or more than EUR 22 mln total could be paid out tax free from the 'steuerliche Einlagenkonto' (§27 KStG), this possibility is now depleted, and the payment has to be done net of withholding tax (KESt). It is planned to offer the option of cash or share dividend, as last year. M+M CEO Adi Drotleff gave a short- to medium-term outlook: 'For 2016 we expect sales above EUR 170 mln and gross margin above EUR 90 mln. The EBITDA target is approx. EUR 16 mln. As around EUR 1.3 mln amortization will be lapsing, we expect roughly a 2016 net profit doubling to approx. EUR 8 mln or 50 Cents per share. From 2017 onwards an annual EUR 3-4 mln EBITDA increase should correspond with an annual EUR 2-3 mln / 13-20 Cents per share net profit improvement. Assuming we achieve these targets we plan to raise the dividend for the year 2016 to 30-35 Cents, and then annually by approx. 10 Cents.' --------------------------------------------------------------------------- 14.03.2016 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. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------------- 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; Open Market (Entry Standard) in Frankfurt End of News DGAP News Service --------------------------------------------------------------------------- 444669 14.03.2016