SimCorp Grew Operating Profit by 16% in 2013. 2014 Shows Good Prospects for Continued Growth

Today SimCorp's Board of Directors reviewed and approved the Group's annual report for 2013.

Financial highlights for 2013:

• Revenue up 7.6% to EUR 225.1m (DKK 1.68bn), 10% in local currencies
• EBIT margin up from 22.4% to 24.1%
• EBIT up 15.6% to EUR 54.2m (DKK 404m)
• Profit for the year up 14.1% to EUR 39.3m

Klaus Holse, SimCorp’s CEO:

“2013 was a year dominated by positive developments and with financial performance in line with guidance. The notable need in the market to replace old legacy systems with modern, integrated, and real-time solutions was clearly reasserted. We improved our position in the front office segment and we gained new clients in our most important growth markets. We added 7 new clients to our portfolio, which now counts 166 in 23 countries. The viability of our organic growth strategy has been confirmed and we are ready to unfold the growth potential to an even larger extent in the years to come.”

Expectations for 2014

SimCorp enters 2014 with EUR 157m of the 2014 revenue secured, an increase of EUR 7m compared with entering 2013. SimCorp expects revenue growth of 10% measured in local currencies, and an EBIT margin of 24% measured in local currencies including the effect of the acquisition of Equipos Ltd.   

Dividend and share buyback

At the company’s Annual General Meeting SimCorp’s Board of Directors will propose that a dividend of EUR 22.2m be paid to the company’s shareholders, corresponding to DKK 4.00 per share of DKK 1. In addition, given there are no specific requirements for liquidity SimCorp expects to continue to buy back shares in 2014, in the amount of EUR 10m during the next six months. For the full year SimCorp expects to buy back shares for a total value of EUR 25m.

Investor meeting

SimCorp’s Executive Management Board will present the annual report at an investor presentation to be held on Wednesday 26 February 2014 at 9:00 a.m. at the company’s headquarters, Weidekampsgade 16, 2300 Copenhagen S. The meeting will be open to the public, and a live webcast of the presentation can be followed via this link, where it will be possible to ask questions online:

http://www.media-server.com/m/p/vnsjto8j.

The presentation will be available afterwards via SimCorp’s website www.simcorp.com.

The full annual report has been submitted to NASDAQ OMX Copenhagen A/S in pdf. The annual report is also available for download from SimCorp’s website www.simcorp.com.

Enquiries regarding this announcement should be addressed to:
Klaus Holse, Chief Executive Officer, SimCorp A/S (+45 3544 8802, +45 2326 0000) or
Thomas Johansen, Chief Financial Officer, SimCorp A/S (+45 3544 6858, +45 2811 3828)

Company Announcement no. 11/2014