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SimCorp reports revenue growth of 6.9% and EBIT margin of 21.8% in Q1 2021

Q1 2021 highlights:

  • Reported revenue was EUR 110.0m, an increase of 6.9% when compared with Q1 2020, and an organic increase of 9.4% when measured in local currencies.
  • EBIT was EUR 23.9m compared with EUR 17.5m in Q1 2020.
  • EBIT margin was 21.8% compared with 17.0% in Q1 2020. The EBIT margin measured in local currencies was 22.5%.
  • Net profit was EUR 20.2m compared with EUR 13.4m in Q1 2020.
  • Total order intake from initial and additional licenses of EUR 12.6m was as expected lower than the EUR 19.9m signed in the same period last year.
  • Since the closing of Q1 2021, one initial SimCorp Dimension contract and one new SimCorp Coric contract have been signed in North America.
  • At March 31, 2021, the order book amounted to EUR 49.1m, an increase of EUR 8.0m when compared with the order book at March 31, 2020, but a decrease of EUR 7.0m when compared with the order book at December 31, 2020, primarily due to license sales signed in 2020 being recognized in Q1 2021, once conditions were met.
  • Annual Recurring Revenue (ARR) for the last twelve months covering the period Q2 2020-Q1 2021 was EUR 256.6m, an increase of 10.7% when compared with the period Q2 2019-Q1 2020, and an organic increase of 13.0% when measured in local currencies.
  • Free cash flow was EUR 39.4m, an increase of 22% when compared with Q1 2020.

Financial guidance 2021:

  • SimCorp maintains its expectations for 2021 as announced in its Annual Report 2020, i.e the expectations for 2021 are to grow revenue in local currencies by between 6% and 11%, and to generate an EBIT margin measured in local currencies of between 24.5% and 27.5%.

 

SimCorp CEO, Klaus Holse, comments: “An organic revenue growth of more than 9% in a quarter still impacted by Covid-19 restrictions demonstrates the strength of our client base and the resilience of our business model. Together with appropriate cost measures, this has ensured a higher EBIT margin in Q1 2021 compared with Q1 2020, despite the fact that Q1 2020 was only partly impacted by Covid-19 challenges.”

 

Download the full report


Investor presentation

SimCorp’s Executive Management Board will present the report on a conference call Wednesday, May 19, 2021 at 11.00 am (CEST). Please use any of the following phone numbers to dial in to the conference call:

From Denmark: +45 3272 0417
From USA: +1 646 741 3167 From other countries: +44 (0) 2071 928338
Pin code to access the call: 2465159

At the end of the presentation there will be a Q&A session. It will also be possible to follow the presentation via this link: https://edge.media-server.com/mmc/p/opkieg2q

The presentation will be available prior to the conference call via SimCorp’s website http://www.simcorp.com/en/about/investor/presentations-and-events/quarterly-and-annual-investor-meetings.

Enquiries regarding this announcement should be addressed to:

Investor contacts:
Klaus Holse, Chief Executive Officer, SimCorp A/S (+45 3544 8800, +45 2326 0000)
Michael Rosenvold, Chief Financial Officer, SimCorp A/S (+45 3544 8800, +45 5235 0000)
Anders Hjort, Head of Investor Relations, SimCorp A/S (+45 3544 8800, +45 2892 8881)

Media contact:
Mette Trier, Communications Principal, SimCorp A/S (+45 4060 8296)
Mittal Shah, PR Manager – SimCorp UK, North America, Asia Pacific (+44 (0)207 397 8072)

Company Announcement no. 21/2021