DGAP-News: Mensch und Maschine Software SE discloses final

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Mar 17, 2014 at 3:30 AM

DGAP-News: Mensch und Maschine Software SE discloses final 2013 figures

DGAP-News: Mensch und Maschine Software SE / Key word(s): Final Results Mensch und Maschine Software SE discloses final 2013 figures 17.03.2014 / 08:16 --------------------------------------------------------------------- - EBITDA 2013 purely operating nearly EUR 3 Million above PY - Outlook: EPS 2014 doubling to 35 Cents, by 2018 target 100 Cents Wessling, March 17, 2014 - Mensch und Maschine Software SE (MUM - ISIN DE0006580806), a CAD/CAM specialist company, during the annual accounts press conference today confirmed the preliminary 2013 figures which had been disclosed on February 10, and announced that the dividend is kept stable at 20 Cents, which will again be paid out tax free. In spite of negative currency impact from the strong Euro, M+M had a successful 2013 due to consequent cost control. On a purely operating basis, operating profit EBITDA was improved by nearly EUR 3 mln compared to the previous year. Group sales amounted to EUR 125.83 mln (PY: 118.80 / +5.9%), with Software contributing EUR 35.08 mln (PY: 33.62 / +4.3% or >8% in local currencies) and the VAR Business contributing EUR 90.75 mln (PY: 85.18 / +6.4%). Gross margin rose slightly disproportionately to sales by 7.1% to EUR 67.46 mln (PY: 62.97), with contributions of EUR 32.51 mln (PY: 30.63 / +6.1% or +10% in local currencies) from Software and EUR 34.95 mln (PY: 32.34 / +8.0%) from the VAR Business. Other operating income decreased to EUR 7.91 mln (PY: 13.11), as the contribution from the sale of the Distribution business, closed in 2011, was down to EUR 4.0 mln (PY: 9.0), according to plan. Operating profit EBITDA before depreciation, amortization, interest and taxes amounted to EUR 5.96 mln (PY: 5.49 / +8.6%) for Software and EUR 1.85 mln (PY: 4.48) for the VAR Business. Group EBITDA amounting to EUR 7.81 mln (PY: 9.97) nominally came in below previous year. Purely operating, adjusted by contributions from the Distribution sale, it nearly quadrupled from EUR 0.97 mln to EUR 3.81 mln. Net profit after minority shares amounted to EUR 2.62 mln (PY: 3.62 unadjusted) or 17 Cents (PY: 24 unadjusted) per share, slightly better than preliminarily announced. Operating cash flows, which had been strongly negative during 2012, due to the business model transition with its changes to working capital, returned to the black. Better than preliminarily announced, it amounted to EUR 3.78 mln (PY: -5.70) - an improvement of approx. EUR 9.5 Million. For 2014, the M+M management expects EBITDA to jump by approx. 50% to approx. EUR 11.5 mln, and EPS doubling to approx. 35 Cents. M+M CEO Adi Drotleff also confirms the long term targets: 'The highest hurdles in the transition of our business model to more value are now behind us, and we feel well on track for our goal to increase EPS to 50 Cents by 2015 and to one Euro by 2018. To achieve this, we only need organic sales growth to be slightly above 10% per annum, as we still have enough operating margin potential in both segments, which we will improve step by step in the years to come. In addition, from 2016 onwards, amortization will drop by more than EUR 1.5 mln, because the seven year amortization from the 2009 acquisitions will be written off, which has a 1:1 impact on group net profit. ' End of Corporate News --------------------------------------------------------------------- 17.03.2014 Dissemination of a Corporate News, transmitted by DGAP - a company of EQS Group AG. The issuer is solely responsible for the content of this announcement. DGAP's 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: investor-relations@mum.de Internet: www.mum.de ISIN: DE0006580806 WKN: 658 080 Listed: Freiverkehr in Berlin, DÃ¼sseldorf, Hamburg, MÃ¼nchen (m:access), Stuttgart; Frankfurt in Open Market (Entry Standard) End of News DGAP News-Service --------------------------------------------------------------------- 257687 17.03.2014

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