DGAP-News: Mensch und Maschine Software SE discloses half

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Jul 22, 2013 at 4:00 AM

DGAP-News: Mensch und Maschine Software SE discloses half year report

DGAP-News: Mensch und Maschine Software SE / Key word(s): Half Year Results Mensch und Maschine Software SE discloses half year report 22.07.2013 / 09:45 --------------------------------------------------------------------- Q1 strong, Q2 slower - Half year all in all on plan - EBITDA up 187% purely operating - cash flows strongly positive Wessling, July 22, 2013 - The strong initial quarter at Mensch und Maschine Software SE (MUM - ISIN DE0006580806), a CAD/CAM specialist company, was followed by a slower Q2, all in all resulting in the first half year being approximately on plan. Six months sales climbed by 15% to EUR 65.25 mln (PY: 56.78), with Software contributing EUR 17.83 mln (PY: 16.45 / +8.4%) and the VAR Business contributing EUR 47.42 mln (PY: 40.33 / +18%). The Software growth was entirely organic, while in the VAR Business approx. half of the growth was organic and half contributed by the acquisitions closed in the past 12 months in Italy, France and Germany. Gross margin increased to EUR 34.19 mln (PY: 30.82 / +11%), with contributions of EUR 16.67 mln (PY: 14.99 / +11%) from Software and EUR 17.52 mln (PY: 15.83 / +11%) from VAR Business. Other operating income decreased to EUR?4.14 mln (PY: 5.64), as the contribution from the sale of Distribution business, closed in 2011, was EUR 2.0 mln (PY: 4.0), according to plan. Operating profit EBITDA before depreciation, amortization, interest and taxes amounted to EUR 3.25 mln (PY: 3.09 / +5.3%) for Software and to EUR 1.04 mln (PY: 1.71) for the VAR Business. Group EBITDA amounting to EUR 4.30 mln (PY: 4.80) nominally came in slightly below previous year. Purely operating, adjusted by the contributions from the sale of Distribution, it rose by a remarkable 187%. Net profit after minority shares amounted to EUR 1.26 mln (PY: 1.89), or 8 Cents (PY: 13) per share (undiluted). Group headcount at June 30, 2013, was 705 (PY: 656 / +7.5%). Adjusted by the 33 employees from acquisitions, the increase was just 2.4%. In the VAR Business, due to the cost consolidation since mid 2012, headcount even decreased by 12 people. Operating cash flows, which had been negative during 2012 due to the business model transition with its working capital changes, strongly returned to the black, amounting to EUR 4.36 mln (PY: -1.14). M+M CEO Adi Drotleff gives an outlook for the second half of the year: 'As customer demand has significantly increased around mid year, we expect a good Q3, followed by a strong final quarter, and stick to the ambitious profit targets for the full fiscal year 2013. As the planned further 1-2 VAR business acquisitions in Europe will probably not yet impact 2013 sales and EBITDA, we now target sales between EUR 135 and 140 mln (PY: 118.80) and EBITDA approximately on previous year's EUR 9.97 mln level, which adjusted by the contributions from the sale of Distribution business would equal approx. EUR 5 mln operating progress. Net profit is still targeted to EUR 4.5 mln (PY: 3.62) or nearly 30 Cents per share (PY: 24). An unchanged 20 Cents per share dividend payment (tax free) is planned.' The detailed half year report can be accessed under http://www.mum.de/Investor Click the button 'English Version' End of Corporate News --------------------------------------------------------------------- 22.07.2013 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 --------------------------------------------------------------------- 222172 22.07.2013

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