Novasoft AG
Novasoft AG english
Novasoft increases revenue of 13% and delivers EBIT margin of 12.1%
Ad-hoc-announcement transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
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Heidelberg, 4 November 2002: Contrary to the market trend, Novasoft AG is
reporting an above-average growth in revenue of 13 percent in the first nine
months. A constantly high EBIT margin of 12.1 percent confirms the profitability
of the purely organic growth of the SAP consulting company. The EBIT rose by
2.9 percent to 6.8 million Euro. The EBITDA could be increased by 6.9 percent to
8.7 million Euro. The quarterly result is similarly positive. Revenue increased
on a quarterly basis by 1.2 million to 19.1 million Euro (+6.6 percent).
Increased amortization of goodwill due to the acquisition of business shares in
Great Britain and Singapore, thereby reduce the EBIT by 7.0 percent to 2.3
million Euro. In the third quarter Novasoft generated more than half of its
revenue abroad for the first time. The acquisition of the business shares in
Great Britain and Singapore is paying off despite the increased amortization of
goodwill because, as a consequence, profit distributions to the minority
shareholders are being reduced. In the long term, Novasoft is thus securing the
solid development of its international presence.
end of ad-hoc-announcement (c)DGAP 04.11.2002
Issuer’s information/explanatory remarks concerning this ad-hoc-announcement:
Novasoft confirms its oustanding position
Heidelberg-based SAP consulting company increases sales by 13.0 percent to 56.4
million Euro – constantly high EBIT margin of a remarkable 12.1 percent
Heidelberg, 4 November 2002: Contrary to the market trend, Novasoft AG is
reporting an above-average growth in revenue of 13 percent in the first nine
months. A constantly high EBIT margin of 12.1 percent confirms the profitability
of the purely organic growth of the SAP consulting company. The EBIT rose by
2.9 percent to 6.8 million Euro. The EBITDA could be increased by 6.9 percent to
8.7 million Euro. The quarterly result is similarly positive. Revenue increased
on a quarterly basis by 1.2 million to 19.1 million Euro (+6.6 percent).
Increased amortization of goodwill due to the acquisition of business shares in
Great Britain and Singapore, thereby reduce the EBIT by 7.0 percent to 2.3
million Euro. In the third quarter Novasoft generated more than half of its
revenue abroad for the first time.
Thanks to the international organization of the Novasoft Group, the company has
been able to compensate for the reluctance to make IT investments in Germany
through orders in other European countries. Here, revenue in the first nine
months increased by 66 percent in comparison to the previous year to 20.8
million Euro.
In Finland, Novasoft was able to acquire the market leading publishing company
Werner Söderström (WSOY) as a new client. The initial project involves about
1,000 man-days. In England, Novasoft continues to extend its leading position.
Practically all SAP projects in the area of the retail market there are being
serviced by Novasoft. The outstanding positions in Finland and England make it
possible for Novasoft to assign staff from German companies on projects in these
growth markets and thus secure the high utilization rate.
The activities of Novasoft Asia are also developing encouragingly. The recently
opened location in Shanghai has earned its qualification as an SAP Service
Partner. The general conditions for the partnership in China have been
considerably tightened up by SAP. Precondition for the certification continues
to be comprehensive know-how, but also work with the latest SAP methods. As a
consequence, old partnerships are being cancelled, if the companies can no
longer satisfy the increasing quality standard.
The acquisition of the business shares in Great Britain and Singapore is paying
off despite the increased amortization of goodwill because, as a consequence,
profit distributions to the minority shareholders are being reduced. In the long
term, Novasoft is thus securing the solid development of its international
presence.
In the entire Novasoft Group, costs are constantly being strictly monitored.
Real savings potential is being opened up by the merging of the administration
of the two German companies, Heidelberg and Walldorf. Since the end of
September, the employees have been sharing the offices in Heidelberg.
Looked at from today’s point of view, the fourth quarter will smoothly continue
the trend of the third quarter. Novasoft expects revenues to remain at the same
high level. For future investment decisions by clients, Novasoft sees itself as
being extremely well-placed, thanks to the consistent implementation of its
quality claim and its international presence.
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WKN: 677890; ISIN: DE0006778905; Index:
Listed: Neuer Markt Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf,
Hamburg, München, Hannover und Stuttgart
040700 Nov 02
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