SimCorp updates its expectations of the financial results for 2011 and now expects:
Total licence order inflow EUR 40m (previous guidance above EUR 49m)
Revenue growth 4% - 5% (previous guidance above 5% in local currencies)
Business growth around 1% (previous guidance above 5% in local currencies)
EBIT-margin 23% - 24% (previous guidance above 20%)
SimCorp remains well positioned and the postponed order inflow and hence lower business growth are not a result of SimCorp showing weaker competitiveness in the market, but primarily a result of postponement of decisions by potential clients to enter into new contracts.
The updated expectations are based on preliminary and unaudited figures at the end of December 2011. The currency fluctuations are not expected to have a material impact on the updated expectations.
SimCorp’s annual report for 2011 will be published on 29 February 2012 when SimCorp also will comment on expectations for 2012.
Enquiries regarding this announcement should be addressed to:
Thomas Johansen, Chief Financial Officer, SimCorp A/S (+45 3544 8800, +45 2811 3828)
Peter L. Ravn, Chief Executive Officer, SimCorp A/S (+45 3544 8800, +45 4076 1841)