Brief: Simcorp Q1 EBIT Down At EUR 15.5 Mln

SIMCORP A/S

19/05/2022 06:42

May 19 (Reuters) - Simcorp A/S  SIM.CO :
    * SIMCORP REPORTS SOLID ORDER INTAKE, ARR (LTM) GROWTH OF
10.4%,
REVENUE GROWTH OF 4.3% AND EBIT MARGIN OF 13.5% IN Q1 2022
    * Q1 TOTAL ORDER INTAKE OF EUR 26.0M WAS MORE THAN DOUBLE
EUR
12.6M SIGNED IN SAME PERIOD LAST YEAR, PRIMARILY DUE TO EARLY
RENEWALS OF TWO SUBSCRIPTION AGREEMENTS IN NORTH AMERICA (NA)
WHERE REVENUE WILL BE RECOGNIZED IN Q1 2023 AND IN 2027,
RESPECTIVELY.
    * SIMCORP MAINTAINS ITS EXPECTATIONS FOR 2022 AS ANNOUNCED
IN ITS
ANNUAL REPORT 2021
    * Q1 REPORTED REVENUE EUR 114.7 MILLION VERSUS EUR 118.5
MILLION
SEEN IN REFINITIV POLL
    * Q1 EBIT OF EUR 15.5M WAS AS EXPECTED LOWER THAN EUR 23.9M
IN Q1
2021 DUE IN LARGE PART TO INVESTMENTS IN FUTURE, INCLUDING
INVESTMENTS IN NEW SAAS OPERATIONS AND SOLUTIONS
    * Q1 ORDER INTAKE EUR 26.0M MILLION VERSUS EUR 12.6 MILLION
YEAR
AGO
    * Q1 NET PROFIT WAS EUR 13.3M COMPARED WITH EUR 20.2M IN Q1
2021.

Source text for Eikon:  ID:nWkr2wJHYs 
Further company coverage:  SIM.CO 

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