COR AG Financial Technologies
COR AG Insurance Technologies: COR Group publishes its 2008 semi-annual report – substantial increase over prior year
COR AG Insurance Technologies / Half Year Results Release of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer / publisher is solely responsible for the content of this announcement. ---------------------------------------------------------------------- COR Group publishes its 2008 semi-annual report – substantial increase over prior year (Leinfelden-Echterdingen, 14 August 2008) – In the first six months of this year, the COR group of companies generated overall sales of EUR 24.5 million, representing an increase of more than 32.5 per cent over the same prior-year period. The pre-tax operating result (EBT) improved by 44.7 per cent to EUR 2.5 million, thereby pushing up the EBT margin from 9.4 per cent as of 30 June 2007 to 10.3 per cent in the current year. In addition to these positive figures, there were also other important events for the company in the 2nd quarter. For instance, years of project work were crowned with the successful launch of a completely new contract system developed by COR for CSS Krankenversicherung, based in Lucerne (Switzerland). The largest Swiss medical insurer will therefore be relying on the proven expertise and technology of COR from now on. Landesbank Baden-Württemberg (LBBW) has also decided to use the software module COR-Tax of COR AG. As a central tax computation module, COR-Tax not only models the tax rules for the new capital gains compensation tax, but also models all the other capital gains tax rules for customers of financial institutions. Another milestone was the acquisition of ALLDATA Systems GmbH from T-Systems Enterprise Services GmbH with effect as of 1 July 2008. With this acquisition, COR supplemented its product spectrum optimally as a full-service provider of banking software for private banks and mortgage lending institutions. As a result of the acquisition and the favourable development of business, COR recently revised its forecast for sales in the current financial year upwards to EUR 60.0 million and for EBT to EUR 6.7 million. The semi-annual report can be called up on the web site of COR AG at: http://www.corag.de/Finanzberichte.48.0.html. About COR COR AG Insurance Technologies is one of the leading software and consulting firms for the European financial services industry and its activities are focused mainly on banks and insurance companies. Its service spectrum encompasses specialist and technical consulting services, a broad spectrum of standard software products, and the assumption of IT operations (Application Service Providing). COR has its headquarters in Leinfelden-Echterdingen, near Stuttgart, and employs around 500 people at locations in Germany, Switzerland and Slovakia. The last financial year was the most successful in the company’s history so far, with sales of EUR 41.3 million and EBT of EUR 4.7 million. Contact COR AG Insurance Technologies Corporate Communications Karlsruher Straße 3, 70771 Leinfelden-Echterdingen Tel. +49 711 94958-0 E-mail: info@corag.de Internet: http://www.corag.de 14.08.2008 Financial News transmitted by DGAP ---------------------------------------------------------------------- Language: English Issuer: COR AG Insurance Technologies Karlsruher Straße 3 70771 Leinfelden-Echterdingen Deutschland Phone: +49(0)711-94958-0 Fax: +49-(0)711-94958-49 E-mail: ir@corag.de Internet: www.corag.de ISIN: DE0005083208 WKN: 508320 Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Stuttgart, Hamburg, Düsseldorf End of News DGAP News-Service ---------------------------------------------------------------------------
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