USU Software AG

EANS-News: USU Software AG Announces Final Business Results for Q4/2010 and for the 2010 Fiscal Year as a Whole: Highest Group Sales and Best Consolidated Operating Income (EBITDA) in the History of the Company

• Very successful fourth quarter 2010 • Record sales and EBITDA across 2010 • Dividend increase by a third to EUR 0.20 per share • Further development of Group liquidity • Strong increase in orders at hand and workforce • High sales and income growth to follow in subsequent years

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annual result/Financial Figures/Balance Sheet

Subtitle: • Very successful fourth quarter 2010 • Record sales and EBITDA across 2010 • Dividend increase by a third to EUR 0.20 per share • Further development of Group liquidity • Strong increase in orders at hand and workforce • High sales and income growth to follow in subsequent years

Möglingen (euro adhoc) - USU Software AG today published its final business results for the fourth quarter of 2010 and for the 2010 fiscal year as a whole. The results show that the Company and its subsidiaries achieved a 40.3% increase in Group sales of EUR 12.9 million in the fourth quarter of 2010 alone (Q4/2009: EUR 9.2 million) and simultaneously improved operating earnings before interest, taxes, depreciation and amortization (EBITDA) by 169.8% to EUR 3.2 million (Q4/2009: EUR 1.2 million). This significant improvement in business development was a result of both organic business expansion and the acquisition of a majority shareholding in Aspera GmbH. USU also registered strong growth in earnings before interest and taxes (EBIT) in the fourth quarter of 2010 with EUR 2.2 million (Q4/2009: EUR -0.1 million) and doubled the previous year´s net income for the quarter to EUR 1.9 million (Q4/2009: EUR 0.9 million).

Across the year as a whole, USU Software AG expanded Group sales for the 2010 fiscal year by 11.7% against the previous year to EUR 38.0 million (2009: EUR 34.0 million) and generated the highest ever Group sales in the history of the Company. The USU Group also posted strong growth in the maintenance business, which expanded by 18.3% to EUR 8.5 million (2009: EUR 7.2 million). From the licenses business, USU generated year-on-year growth of 3.6% in software license sales for 2010 to EUR 5.8 million (2009: EUR 5.6 million). The product- and service-related consulting business contributed a 9.0% year-on-year increase in sales to EUR 21.9 million (2009: EUR 20.1 million). Other income amounted to EUR 1.9 million in the 2010 fiscal year (2009: EUR 1.2 million) and primarily related to sales of third-party hardware and software. The USU Group achieved increased consolidated sales of EUR 3.4 million (2009: EUR 2.8 million) outside Germany in the year under review, equating to sales growth of 20.4%. The share of Group sales attributable to foreign markets thereby amounted to 9.0% (2009: 8.4%).

The operating cost base of the USU Group went up by 5.9% against the previous year to EUR 33.7 million (2009: EUR 31.8 million), lower than the rise in Group sales growth.

With operating earnings (EBITDA) increasing by 81.2% to EUR 4.6 million (2009: EUR 2.5 million), at Group level USU Software AG met its target of improving operating earnings well in excess of sales growth and in the process achieved the best consolidated operating income in the Company´s history. USU also reported a five-fold year-on-year increase in EBIT for the 2010 fiscal year to EUR 2.6 million (2009: EUR 0.5 million). The USU Group increased its net profit after taxes for the year under review by 51.9% to EUR 2.3 million (2009: EUR 1.5 million). As a result, based on an average number of shares outstanding of 10,272,412 (2009: 10,021,054), USU´s earnings per share increased by over half to EUR 0.23 (2009: EUR 0.15).

On the basis of this positive business development and in the interests of a shareholder-friendly dividend policy and dividend continuity, the Management Board and Supervisory Board of USU Software AG will propose the Company´s Annual General Meeting on June 30, 2011 to increase the dividend per dividend-bearing share by a third to EUR 0.20 (2009: EUR 0.15). This will allow the shareholders of USU Software AG to participate in the Company´s success to a material extent as previously announced.

USU increased Group liquidity in the form of securities, cash on hand and bank balances at the end of the 2010 fiscal year to EUR 11.1 million (2009: EUR 10.9 million), despite the cash payment for a part of the 51% shareholding in Aspera and the dividend payment to USU Software AG shareholders in 2010. USU´s equity ratio remained at a high level at the end of the 2010 reporting year at 72.5% (2009: 85.7%). The reported decrease was predominantly as a result of a rise in liabilities for the intended 100% acquisition of Aspera GmbH. Overall, the Company still has the solid financing it requires to make targeted investments and to purchase companies or interests in companies when potential additional acquisitions present themselves.

With an expanding Group workforce by 13.8% to 306 (2009: 269) employees and increasing Group existing orders at hand by 42.6% to EUR 19.1 million (2009: EUR 13.4 million), the USU Group believes itself to be in a good position to be able to continue substantially expanding its operating activities in the future. In addition to improvement of domestic sales, the Company´s international business is also on course for above-average growth, arising from the comprehensive partner and sales activities conducted over previous years. In accordance with these circumstances, the Management Board of USU Software AG anticipates sales growth for the Group as a whole to be over 10% in the 2011 and 2012 fiscal years and expected a stronger improvement in operating income (EBITDA) in comparison to Group sales with further widening of the EBITDA margin to 12.1% in 2010.

This press release is accessible at

end of announcement                               euro adhoc

Further inquiry note:

USU Software AG
Investor Relations
Falk Sorge
D-71696 Möglingen
Tel.: +49 (0) 71 41 - 48 67 351
Fax: +49 (0) 71 41 - 48 67 108

USU Software AG
Corporate Communications
Dr. Thomas Gerick
Tel.: +49 (0) 71 41 - 48 67 440
Fax: +49 (0) 71 41 - 48 67 909

Branche: Software
Index: CDAX, Prime All Share, Technology All Share
Börsen: Frankfurt / regulated dealing/prime standard
Berlin / free trade
Hamburg / free trade
DĂĽsseldorf / free trade
Hannover / free trade
MĂĽnchen / free trade
Stuttgart / regulated dealing

Original-Content von: USU Software AG, übermittelt durch news aktuell

Weitere Meldungen: USU Software AG

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