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PRESS RELEASE: ATOSS Software AG: Outstanding business developments in the first half of the year with dynamic growth in the cloud business

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DGAP-News: ATOSS Software AG / Key word(s): Quarter Results/Half Year
ATOSS Software AG: Outstanding business developments in the first half of
the year with dynamic growth in the cloud business

2019-07-24 / 08:00
The issuer is solely responsible for the content of this announcement.

Provisional figures show that ATOSS Software AG once again hiked sales by a
clear 15 percent to EUR 33.9 million in the first half of the year. Despite
substantial investments in the future, the specialist in workforce
management also saw a further improvement in results and set new records.
Within a strong continuing development in its core business with software
license order intake growing by 36 percent, ATOSS achieved particularly
impressive revenue growth of 90 percent in its cloud business. In view of
the excellent order situation, the Management Board is confident that ATOSS
remains on course in 2019 for a fourteenth record year in succession.

Munich, July 24, 2019

The present half year results once again underscore the dynamic business
developments at ATOSS and its unique position in the workforce management
market. Fielding its innovative solutions covering all aspects of digital
workforce management, the company succeeded once again in acquiring a
multitude of prominent new customers in the first half of the year, with the
cloud business gaining ever greater importance.

Software sales in the period from January to June 2019 were a substantial 19
percent higher at EUR 22.0 million (previous year: EUR 18.5), equating to 65
percent of the Group's overall turnover (previous year: 63 percent).
Software licenses accounted for sales totaling EUR 6.8 million (previous
year: EUR 6.0 million). It was recurring cloud solution revenues, however,
that proved the biggest driver of growth in software sales, increasing by 90
percent to EUR 3.4 million (previous year: EUR 1.8 million), already
equivalent to half the figure for software licenses. The development in
software maintenance which has been consistently positive for years has
continued without interruption, with sales rising 10 percent to EUR 11.9
million (previous year: EUR 10.8 million). Turnover in consulting, at EUR
9.4 million (previous year: EUR 8.5 million) was up by 11 percent, too, well
above the figure for the same period last year and continuing a trend
evident for some years. Hardware sales amounted to EUR 1.7 million (previous
year: EUR 1.8 million), with miscellaneous revenues contributing a further
EUR 0.8 million (previous year: EUR 0.7 million).

ATOSS is setting new records, and not just in sales: Despite an increase in
growth-oriented investments relative to the year before, particularly in
R&D, sales and customer service, the operating profit (EBIT) was also
higher, rising by 16 percent - one percentage point ahead of the growth in
revenues - to stand at EUR 8.7 million. As a result, the EBIT margin came in
at a sustained and attractive 26 percent (previous year: 25 percent).

These highly positive business developments, coupled with substantial cash
flow from current major projects and the one-off effects of adopting new
accounting and valuation methods in association with the first-time
application of IFRS 16 (Leases) as of January 1, 2019 led to a hike in
operating cash flow which rose by 94 percent to EUR 8.5 million. (2) Despite
the dividend payment on May 6, 2019, amounting to EUR 15.9 million (regular
dividend of EUR 1.40 plus a special distribution of EUR 2.60 per share), at
the end of the first half year ATOSS reported highly respectable liquidity
virtually unchanged from the year before at EUR 25.1 million (previous year:
EUR 25.9 million).

The strong and still increasing customer interest in ATOSS solutions - as
demonstrated by the rise in orders booked in the first half of the year for
software licenses and the software component of contracted cloud solutions
up by 36 percent at EUR 10.5 million (previous year: EUR 7.7 million) - is
evidence of the company's outstanding future prospects. Orders on hand for
software licenses at the end of the first half of the year amounted to EUR
6.1 million, compared with EUR 5.1 million last year. In addition, gains in
cloud business were recorded. ARR (annual recurring revenue, that is to say,
the revenues generated over the next 12 months on the basis of current
monthly cloud usage fees applicable as of the qualifying date) amounted to
EUR 5.8 million as of June 30, 2019, representing an increase of 70 percent
over the year before (EUR 3.4 million).

Based on the significant progress in cloud transformation, the company is
charting its future success course. Consequently, ATOSS continues to set
standards for growth and stability and is excellently positioned to profit
from powerful market growth factors such as demographic change and

Against this background, the Management Board confirms its full-year
forecast made at the start of 2019. With sales expected to rise by 11 to 13
percent and with further investments planned in particular in sales
organization geared to developing new markets and sectors, this guidance
anticipates an EBIT margin of 25 to 28 percent. CONSOLIDATED OVERVIEW AS PER

*1/1/2019 Proportion *1/1/2018 Proportion *Change
- of - of 2019 to
6/30/2019 Total 6/30/2018 Total 2018*
* sales * sales

*Total sales * *33,933* *100%* *29,446* *100%* *15%*
*Software* *22,015* *65%* *18,513* *63%* *19%*
Licenses 6,750 20% 5,970 20% 13%
Maintenance 11,879 35% 10,757 37% 10%
Cloud 3,386 10% 1,785 6% 90%
*Consulting* 9,408 28% 8,451 29% 11%
*Hardware* 1,744 5% 1,780 6% -2%
*Others* 766 2% 703 2% 9%

*EBITDA*(1) 10,138 30% 7,942 27% *28%*
*EBIT* *8,658* *26%* *7,472* *25%* *16%*
*EBT* 9,085 27% 7,391 25% 23%
*Net profit* *5,904* *17%* *4,986* *17%* *18%*
*Cash flow*(2) 8,486 25% 4,366 15% 94%
*Liquidity*(3/4) 25,108 25,862 -3%
*EPS* in euro 1.48 1.25 18%
*Employees*(5) 484 436 11%


*Q2/19* *Q1/19* *Q4/18* *Q3/18* *Q2/18*

*Total sales* *16,998* *16,935* *17,258* *15,907* *14,926*
*Software* *11,168* *10,846* *10,984* *9,875* *9,265*
Licenses 3,369 3,381 4,043 3,320 2,897
Maintenance 5,976 5,903 5,654 5,455 5,420
Cloud 1,824 1,563 1,287 1,100 947
*Consulting* 4,495 4,913 4,853 4,430 4,284
*Hardware* 967 777 1,124 1,178 1,016
*Others* 367 399 297 424 362

*EBITDA*(1) 5,272 4,866 5,252 4,800 3,849
*EBIT* *4,054* *4,604* *4,870* *4,575* *3,624*
*EBIT margin *in % 24% 27% 28% 29% 24%
*EBT* 4,223 4,862 4,898 4,500 3,616
*Net profit * *2,720* *3,183* *3,176* *3,032* *2,436*
*Cash flow*(2) 1,271 7,216 -719 8,963 -1,368
*Liquidity*(3/4) 25,108 40,298 33,312 34,383 25,862
*EPS* in euro 0.68 0.80 0.80 0.76 0.61
*Employees*(5) 484 474 465 448 436

(1) For the first time, from January, 1 2019 the accounting standard IFRS
16, which also influences the EBITDA in the first half of the year, must be
taken into account. EBITDA in the first half of the year adjusted for IFRS
16 amounts to kEUR 9,190 (kEUR 7,942).
(2) Due to the first application of the new IFRS 16 as of January, 1 2019
operating cash flow rose and cash flow from financing activities declined by
kEUR 1,012.
(3) Cash and cash equivalents, other current and non-current financial
assets (sight deposits, gold) as of the qualifying date, adjusted to exclude
borrowings (loans)
(4) Dividend of EUR 4.00 per share on 5/6/2019 (kEUR 15,906) and dividend of
EUR 1.17 per share on 5/2/2018 (kEUR 4,653)
(5) at the end of the quarter/year

*Upcoming dates:*

August 9, 2019 Publication of the 6-monthly financial statements
October 24, 2019 Publication of the 9-monthly financial statements
November 25, 2019 ATOSS at the German Equity Forum


ATOSS Software AG is a provider of technology and consulting solutions for
professional workforce management and demand-optimized workforce deployment.
Whether conventional time management, mobile apps, detailed workforce
forecasting, sophisticated workforce scheduling or strategic capacity and
requirement planning, ATOSS has just the right solution - both in the cloud
and on-premise. The modular product families feature the very highest level
of functionality, browser-based high-end technology and platform
independence. With more than 6,500 customers in 42 countries, ATOSS
workforce management solutions make a measurable contribution to increased
value creation and competitiveness. At the same time, they ensure greater
planning fairness and satisfaction at the workplace. Customers include
companies such as ALDI SÜD, Coca-Cola, Deutsche Bahn, Douglas, Edeka,
HUK-COBURG, Klinikum Leverkusen, Lufthansa, MEYER WERFT, Schmitz Cargobull,
Sixt, Stadt Regensburg, thyssenkrupp Packaging Steel and W.L. Gore &
Associates. Further information: www.atoss.com [1]


ATOSS Software AG

Christof Leiber / Member of the Management Board
Rosenheimer Straße 141 h,
D-81671 Munich
Tel.: +49 (0) 89 4 27 71 - 0

(MORE TO FOLLOW) Dow Jones Newswires

July 24, 2019 02:01 ET ( 06:01 GMT)

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