SimCorp reports revenue growth of 11% and EBIT margin of 26.5% in Q1 2019

Company announcement no. 18/2019

Q1 2019 highlights:

• Q1 2019 reported revenue was EUR 99.7m, an increase of 11.0% when compared with Q1 2018, and an increase of 9.1% when measured in local currencies.
• EBIT was EUR 26.4m compared with EUR 23.3m in Q1 2018. Currency fluctuations impacted EBIT positively by EUR 0.9m.   
• EBIT margin was 26.5% compared with 26.0% in Q1 2018. Measured in local currencies, the EBIT margin was 26.1%.
• Net profit was EUR 19.6m compared with EUR 16.3m in Q1 2018.
• Total order intake from new and add-on licenses was EUR 21.4m, an increase of EUR 7.4m compared with same period last year. We welcomed Willis Towers Watson in the UK and Sava Re Group in Slovenia as new clients in Q1 2019.
• At March 31, 2019, the order book amounted to EUR 47.1m, an increase of EUR 28.5m when compared with the order book at March 31, 2018. Compared with December 31, 2018, the order book increased by EUR 1.6m.
• To enable clients to benefit faster from the continuous R&D investments, SimCorp has changed its annual SimCorp Dimension release cycle from two to four releases. Two new versions have already been released in 2019, introducing new functionality within areas like portfolio management, data management and alternative investments handling.
• SimCorp has received three awards so far in 2019. Besides being named ‘Best Securities Services Provider’ in Global Custodian’s Leaders in Custody Awards, SimCorp has also won FTF News’ Technology Innovation Award in the categories of ‘Best Middle-to-Back Office Integration Solution’ and ’Best Client Reporting Solution’.

Financial guidance

• SimCorp maintains its expectations for revenue growth and EBIT margin measured in local currencies for 2019. Revenue growth measured in local currencies is expected to be between 8% and 13%, while the expectation for EBIT margin measured in local currencies remains between 25.5% and 28.5%.

SimCorp CEO, Klaus Holse, comments: “With solid financial performance and two new clients in Q1 2019, both of which have signed for our full, integrated, front to back offering, we are off to a good start for the year. We are pleased to have signed a renowned industry leader like Willis Towers Watson in the UK, as this has been a challenging market for some years. Our order book remains strong and our sales pipeline continues to support our financial guidance.”

Investor presentation

SimCorp’s Executive Management Board will present the report on a conference call today Wednesday, May 22, 2019 at 11.00 am (CEST). Please use any of the following phone numbers to dial in to the conference call:

At the end of the presentation there will be a Q&A session. It will also be possible to follow the presentation via this link: https://edge.media-server.com/m6/p/zck2vsfj.

The presentation will be available prior to the conference call via SimCorp’s website http://www.simcorp.com/en/about/investor/presentations-and-events/quarterly-and-annual-investor-meetings .

Enquiries regarding this announcement should be addressed to:
Investor contacts:
Klaus Holse, Chief Executive Officer, SimCorp A/S (+45 3544 8800, +45 2326 0000)
Michael Rosenvold, Chief Financial Officer, SimCorp A/S (+45 3544 8800, +45 5235 0000)
Anders Hjort, Head of Investor Relations, SimCorp A/S (+45 3544 8822, +45 2892 8881)

Media contact:
Anders Crillesen, Group Communications Director, (+45 3544 6474, +45 2779 1286)