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10.11.2005 – 13:59

USU Software AG

euro adhoc: USU Software AG
quarterly or semiannual financial statement
USU realises sales growth and is profitable

  Disclosure announcement transmitted by euro adhoc.
  The issuer is responsible for the content of this announcement.
10.11.2005
Möglingen, 10 November 2005. Thanks to increasing licensing revenues
and the consultancy business remaining positive, USU Software AG and
its subsidiaries (hereinafter: USU Group) generated a net profit for
the quarter of TEUR 174 (PY: TEUR 13) in Q3 2005 on sales of TEUR
5,038 (PY: TEUR 4,754). Earnings before interest, taxes, depreciation
and amortisation (EBITDA) improved TEUR 590 from the previous year to
TEUR 356 (PY: TEUR -234). Earnings before interest and taxes (EBIT)
were also positive at TEUR 125 (PY: TEUR -328). With the number of
shares averaging 9,135,004 (PY: 8,605,593), earnings per share
increased to EUR 0.02 (PY: EUR 0.00).
In the 2005 9-month period the USU Group increased consolidated sales
by TEUR 1,226 year-on-year to TEUR 14,673 (PY: TEUR 13,447). In view
of moderate cost development, EBITDA improved significantly by TEUR
787 to TEUR 341 (PY: TEUR -446) and EBIT was up TEUR 667 to TEUR -197
(PY: TEUR -864). After the first nine months of the current financial
year, USU achieved the net profitability forecast with net income of
TEUR 97 (PY: TEUR 221). Earnings per share were EUR 0.01 (PY: EUR
0.03) in the reporting period, with the number of shares averaging
8,799,516 (PY: 8,605,593).
According to the Management Board’s plans increasing profitability is
to be pushed forward in the coming quarters. In addition to the
development of the partner business and the expansion of the
workforce, the deployment of employees from the Group’s Czech
subsidiary in domestic and international customer projects will
contribute to this.
end of ad-hoc-announcement
Issuer´s information and explanatory remarks concerning this
ad-hoc-announcement:
USU realises sales growth and is profitable
·       Knowledge Business strategy takes hold
·       Significant improvement in sales and EBIT
·       Operations also profitable in Q3
·       International customer projects successful
·       Expansion of profitability anticipated
"These quarterly figures emphasise that the company’s Knowledge
Business strategy is taking hold and already bearing its first
fruit", Bernhard Oberschmidt, Spokesperson of the Management Board of
USU Software AG, commented on the positive development of business.
"All the Group’s services, solutions and products are targeted at the
better integration of knowledge in core corporate processes. With
them, our customers lay the foundations for greater productivity,
quality and their economic success."
With this portfolio, USU Software AG (ISIN DE000A0BVU28) increased
its consolidated sales by TEUR 284 to TEUR 5,038 (PY: 4,754 TEUR) in
Q3 2005 and realised a net profit for the quarter of TEUR 174 (PY:
TEUR 13). This was due to increasing licensing revenues and the
consultancy business, which remained positive. The international
partner activities are to be highlighted in particular here. With the
international airports in Athens and Bangkok and the Italian railway
company, prestigious customer projects were implemented successfully.
Earnings before interest, taxes, depreciation and amortisation
(EBITDA) were up TEUR 590 on the previous year to TEUR 356 (PY: TEUR
-234). Earnings before interest and taxes (EBIT) were also positive
at TEUR 125 (PY: TEUR -328).
In the 2005 9-month period, the USU Group increased its consolidated
sales by TEUR 1,226 compared to the previous year to TEUR 14,673 (PY:
TEUR 13,447). A 14.2% increase in sales to TEUR 8,073 (PY: TEUR
7,068) was achieved in the Business Solutions segment in comparison
to the previous year. The IT Management Solutions segment posted a
3.1% increase in sales to TEUR 6,535 (PY: TEUR 6,341).
Due in particular to the additional use of external consultancy
resources in HY1 2005, the production costs increased year-on-year in
the 2005 9-month period to TEUR 9,124 (PY: TEUR 8,568). However, the
deployment of employees from the Czech subsidiary USU Software s.r.o
in consultancy projects enabled a further increase in production
costs in Q3 2005 to be prevented. Accordingly, the gross profit on
sales improved from TEUR 4,879 the previous year to TEUR 5,549 in the
period under consideration.
Operating costs for marketing and sales, administration and research
and development totalled TEUR 5,875 in the 9-month period (PY: TEUR
5,831), although positive tax effects had contributed to a lower cost
base in the previous year’s figure.
As a consequence of the increased sales realised year-on-year,
earnings before interest, taxes, depreciation and amortisation
(EBITDA) improved considerably in the 9-month period 2005 to TEUR 341
(PY: TEUR -446). With the inclusion of write-downs totalling TEUR 538
(PY: TEUR 418) earnings before interest and taxes (EBIT) were TEUR
-197 (PY: TEUR -864).  Due to the special distribution of TEUR 34,206
in February 2005, the cumulative interest income for the first nine
months of the 2005 financial year remained well below that of the
previous year at TEUR 371 (PY: TEUR 1,112). Nonetheless, earnings
before tax (EBT) were down only slightly on the previous year’s
figure at TEUR 174 (PY: TEUR 248).  Taking into account taxes on
income totalling TEUR -77 (PY: TEUR -27), the company generated a net
profit of TEUR 97 in the first three quarters of 2005 (PY: TEUR 221)
and had thus already realised a positive net result as at 30
September 2005.
At the end of Q3 2005, shareholders’ equity totalled TEUR 35,440 (31
December 2004: TEUR 33,145). With a balance sheet total of TEUR
41,698 (31 December 2004: TEUR 73,455) the equity ratio was 85.0% (31
December 2004: 45.1%).
The Group-wide order book of the USU Group totalled TEUR 6,951 as at
30 September 2005 (PY: TEUR 5,919) and was thus up TEUR 1,032 on the
previous year’s figure. As at 30 September 2005 the USU Group
employed a total of 197 staff (PY: 180).
The increasing of profitability according to the Management Board’s
plans is to be pushed forward in the coming quarters. In addition to
the development of the partner business and the expansion of the
workforce the deployment of employees from the Group’s Czech
subsidiary in domestic and international customer projects will
contribute to this.
Finished 9 month report 2005 will be available as of 15 November 2005
at http://www.usu-software.de. The Management Board will give further
information at this year’s Analyst Conferences at the German Equity
Forum in Frankfurt on 21 November 2005 and the GBC Munich Investor
Conference in Munich on 1 December 2005.
This press release is available at http://www.usu-software.de.
end of announcement                               euro adhoc 10.11.2005 13:11:53

Contact:

USU Software AG USU Software AG
Investor Relations Corporate Communications
Falk Sorge Dr. Thomas Gerick
Tel.: 0 71 41 / 48 67 351 Tel.: 0 71 41 / 48 67 440
Fax: 0 71 41 / 48 67 108 Fax: 0 71 41 / 48 67 909
Email: f.sorge@usu-software.de Email: t.gerick@usu-software.de

Branche: Software
ISIN: DE000A0BVU28
WKN: A0BVU2
Index: CDAX, Prime All Share
Börsen: Baden-Württembergische Wertpapierbörse / regulated dealing
Frankfurter Wertpapierbörse / regulated dealing/prime
standard
Berliner Wertpapierbörse / free trade
Hamburger Wertpapierbörse / free trade
Börse Düsseldorf / free trade
Bayerische Börse / free trade
Bremer Wertpapierbörse (BWB) / free trade

Original content of: USU Software AG, transmitted by news aktuell