26.10.2015
Mensch und Maschine Software SE DE0006580806
DGAP-News: Mensch und Maschine Software SE discloses nine months report
DGAP-News: Mensch und Maschine Software SE / Key word(s): 9-month
figures
Mensch und Maschine Software SE discloses nine months report
26.10.2015 / 08:58
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Strong 9M figures: M+M increases guidance
- 9M: Sales +16% / EBITDA op. +72% / Cash flows +91%
- Sales and EBITDA guidance are increased moderately
Wessling, October 26, 2015 - After a good first half year, Mensch und
Maschine Software SE (MUM - ISIN DE0006580806), a CAD/CAM specialist
company, managed to stay on the strong growth track in Q3: Sales and gross
margin continued on double digit increases, while the purely operating
EBITDA was more than doubled in Q3, thus gaining over EUR 3.7 mln or 72% on
a nine months base.
9M sales amounted to EUR 119.30 mln (PY: 102.97 / +16%), with M+M Software
contributing EUR 29.86 mln (PY: 27.55 / +8.4%) and the VAR Business
contributing EUR 89.44 mln (PY: 75.42 / +19%). Nearly one third of the VAR
Business growth was due to the Swiss Franc increase against the Euro, the
remainder - still double digit - was organic. Gross margin climbed to a new
record EUR 61.83 mln (PY: 54.04 / +14.4%), with contributions of EUR 28.46
mln (PY: 26.06 / +9.2%) from Software and EUR 33.37 mln (PY: 27.98 / +19%)
from VAR Business - also here, just over two thirds of the growth was
organic.
Operating profit EBITDA before depreciation, amortization, interest and
taxes climbed to EUR 5.56 mln (PY: 4.80 / +16%) for Software and EUR 3.36
mln (PY: 2.65 / +27%) for the VAR Business. Group EBITDA came in at EUR
8.92 mln (PY: 7.45 / +20%). After deducting from the previous year's result
EUR 2.25 mln contribution from the 2011 sale of the Distribution business,
group EBITDA on a purely operating basis increased by EUR 3.72 mln or a
remarkable 72%. In the VAR segment, the purely operating EBITDA jumped from
the previous year's EUR 0.40 mln to EUR 3.36 mln.
Net profit after minority shares increased to EUR 2.77 mln (PY: 2.07 /
+34%), or 17 Cents (PY: 13) per share. The net profit calculation is based
on an expected 37% tax rate for 2015, while the previous year was restated
to the actual 26.3% annual tax rate. The 2015 tax rate is expected to be
extraordinarily higher because the amortisation on purchase price
allocation (PPA) amounting to approx. EUR 2 mln is not eligible for tax
deduction. This effect was dampened by deferred tax credits in previous
years, which will not be the case any more for 2015. Operating cash flows
nearly doubled to EUR 14.96 mln (PY: 7.83 / +91%).
After the strong business development during the first nine months, M+M CEO
Adi Drotleff moderately increased the guidance for fiscal year 2015. 'We
now expect sales north of EUR 155 mln (PY: 140) and gross margin to exceed
EUR 83 mln (PY: 74.66). The EBITDA target range was increased by one
Million to EUR 12-13 mln (PY: 10.87 / purely operating 7.87). Due to the
expected higher tax rate, we keep the guidance for net profit / EPS to
remain in the same range as in the previous year (EUR 3.72 min / 24 Cents)
- plus/minus a certain volatility, mainly depending on EBITDA, currency
exchange effects on the financial result and the actual tax rate.'
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26.10.2015 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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Media archive at www.dgap-medientreff.de and www.dgap.de
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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; Open Market (Entry
Standard) in Frankfurt
End of News DGAP News Service
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405257 26.10.2015
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