- Continuity in cost management contributes to an improvement in income from operations during the first six months in spite of falling revenue
- Group revenue for the first six months at EUR 29.3 million (EUR 30.6 million)
- Software revenues rose to EUR 5.5 million
- Consulting revenue fell to EUR 23.7 million
- Lower EBIT for the quarter
- Net income still in positive territory
Walldorf, July 22, 2010. As was the case for the first quarter, the Group was also able to increase income substantially at the half-year mark. Because of the difficult situation at the subsidiaries in Italy and Spain (see the ad hoc report dated July 8, 2010) the improvement in income was correspondingly weaker. REALTECH Germany was again the leading subsidiary in the second quarter and made a substantial contribution to the increase in EBIT over the first six months.
REALTECH AG’s revenue decreased in the 1st half of 2010 by 4% to EUR 29.3 million (1st half of 2009: EUR 30.6 million). This included a 5% rise in Software revenues to EUR 5.5 million (EUR 5.3 million). In Consulting, revenues fell by 6% to EUR 23.7 million (EUR 25.4 million).
Income from operations improved as follows: EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) rose to EUR 0.8 million (EUR 0.0 million) and EBIT progressed to EUR 0.2 million (minus EUR 0.2 million).
Net income rose to EUR 0.3 million (minus EUR 0.6 million) and earnings per share improved to EUR 0.05 (minus EUR 0.11). The company recorded a cash flow of EUR 1.8 million (EUR 2.6 million). The difference was essentially due to an increase in trade receivables.
As a result of the dividend of EUR 2.6 million distributed in the 2nd quarter, net cash and cash equivalents at the end of June 2010 stood at EUR 6.2 million, compared to EUR 7.3 million at the end of 2009 and EUR 6.1 million at the end of last June.
2nd quarter of 2010:
At EUR 14.9 million revenue was unchanged from the previous year (2nd quarter of 2009: EUR 14.9 million). This was true for both Software revenues at EUR 2.9 million (EUR 2.9 million) and Consulting revenues at EUR 12.0 million (EUR 12.0 million).
EBITDA amounted to EUR 0.5 million (EUR 0.9 million), while EBIT stood at EUR 0.2 million (EUR 0.8 million). Net income amounted to EUR 0.3 million (EUR 0.9 million), corresponding to earnings per share of EUR 0.06 (EUR 0.18).
REALTECH will be publishing its quarterly report for Q2/2010 on August 5, 2010.
Contact:
Volker Hensel
Investor Relations
REALTECH AG
69190 Walldorf
Tel.: +49.6227.837.500
Fax: +49.6227.837.9134