Q1 revenue amounted to EUR 56.5m, an increase of 14% measured in EUR and an increase of 8% when measured in local currencies.
EBIT for the three-month period grew 35% to EUR 6.6m, compared with EUR 4.9m in the year-earlier period. Currency exchange rate fluctuations have impacted EBIT positively by EUR 0.8m (17%-points of the growth) in the quarter.
Net profit for Q1 2015 was EUR 4.3m compared with EUR 3.6m in Q1 2014.
SimCorp maintains its expectations measured in local currency for 2015. Revenue growth measured in local currencies is still expected to be 5-10%, and the expectation for EBIT margin measured in local currencies remains between 23% and 26%.
Based on the exchange rates prevailing 30 April 2015 SimCorp now expects revenue in reported currency to be between EUR 265m and EUR 277m (was previously between EUR 260m and EUR 272m) and reported EBIT margin to be between 24.5% and 27.5% (was previously between 24% and 27%).
As of 31 March 2015, contracts equalling EUR 197m of the projected 2015 revenue had been secured, EUR 22m more than at the same point in time last year.
Klaus Holse, SimCorp CEO comments: “It is reassuring that 2015 is off to a good start. We have signed a contract with one of the largest asset managers worldwide with our Front Office solution being a key driver. We also continue to see our existing customers adopting the new Front Office technology. Professional services is experiencing solid demand with a continued expansion in the service portfolio offered. Based on this we remain confident about our financial outlook for 2015.“