- Group revenue up 2% to EUR 28.6 million
- Software revenue expanded by 22%
- Consulting business records 5% decline
- 9-month EBIT of minus EUR 0.9 million – Q3 EBIT of EUR 0.0 million
- Net cash and cash equivalents and cash flow greatly improved
Walldorf, October 21, 2011. According to provisional figures for the first nine months of 2011, REALTECH recorded a 2% increase in group revenue at EUR 28.6 million (1st nine months of 2010: EUR 28.0 million). This included a 22% increase in software revenues to EUR 9.2 million (EUR 7.6 million). Revenue in the consulting business fell by 5% to EUR 19.3 million (EUR 20.4 million).
It must be noted here that REALTECH AG sold its Spanish subsidiary, REALTECH system consulting S.L., Madrid, on June 28, 2011 as part of a management buy-out. In line with IFRS regulations, the Spanish company is being listed as “Discontinued Operations”. The figures for last year with regard to the Italian subsidiary REALTECH Italia S. p. A., which was sold at the end of fiscal year 2010, were treated in a similar way. Consequently, the figures for 2011 do not include REALTECH Spain and those for 2010 do not include REALTECH Spain or REALTECH Italy.
Earnings before interest, tax, depreciation, and amortization (EBITDA) decreased to minus EUR 0.1 million (EUR 2.6 million), while EBIT fell to EUR 0.9 million (EUR 1.8 million). This was caused in particular by a temporary weakness in the Asia Pacific region (Japan and New Zealand). The situation in Japan will improve significantly by the end of the year, as will the negative impact on income arising from loss of rent. In addition, personnel restructuring measures have also affected income in 2011.
Net income amounted to EUR 0.2 million (EUR 0.6 million) and earnings per share amounted to EUR 0.04 (EUR 0.11).
As a result of the previously mentioned disposal, net cash and cash equivalents increased to EUR 11.5 million, compared to EUR 6.4 million at the end of 2010 and EUR 7.4 million at the end of last June. Cash flow increased from EUR 3.0 million to EUR 6.1 million.
3rd quarter of 2011:
Net income was up 7% to EUR 10.2 million (3rd quarter of 2010: EUR 9.5 million). Software revenues increased by 27% to EUR 3.2 million (EUR 2.5 million). In consulting, revenues were on par with the previous year at EUR 7.0 million.
EBITDA fell to EUR 0.4 million (EUR 1.1 million) and EBIT to EUR 0.0 million (EUR 0.9 million).
Net income amounted to minus EUR 0.2 million (EUR 0.4 million) and earnings per share amounted to minus EUR 0.03 (EUR 0.06).
REALTECH will be publishing its quarterly report for Q3/2011 on 03.11.11.
Contact:
Volker Hensel
Investor Relations
REALTECH AG
69190 Walldorf
Tel.: +49.6227.837.500
Fax: +49.6227.837.9134
