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SimCorp reports revenue growth of 9.1% and EBIT margin of 23.6% in H1 2021

Q2 2021 highlights:

  • Reported revenue was EUR 118.8m, an increase of 11.3% when compared with Q2 2020. Measured in local currencies, organic revenue increased by 12.7% when compared with Q2 2020.
  • EBIT was EUR 30.0m and EBIT margin was 25.2% compared with EBIT of EUR 26.0m and EBIT margin of 24.4% in Q2 2020.
  • In Q2 2021, three new SimCorp Dimension orders and one new SimCorp Coric order were signed.
  • Order intake was EUR 30.2m, an increase of EUR 13.3m or 78.7% compared with Q2 2020.

    H1 2021 highlights:

  • Reported revenue was EUR 228.7m, an increase of 9.1% compared with H1 2020. Measured in local currencies, organic revenue increased by 11.1% when compared with H1 2020.
  • EBIT was EUR 53.9m compared with EUR 43.5m in H1 2020.
  • EBIT margin was 23.6% compared with 20.8% in H1 2020. Measured in local currencies, EBIT margin was 24.2%.
  • Net profit was EUR 41.5m compared with EUR 31.6m in H1 2020.
  • Order intake was EUR 42.8m compared with EUR 36.8m in H1 2020.
  • At June 30, 2021, the order book amounted to EUR 52.1m, an increase of EUR 13.0m when compared with the order book at June 30, 2020, but a decrease of EUR 4.0m when compared with the order book at December 31, 2020. The decrease compared with December 31, 2020 was primarily due to license sales signed in 2020 being recognized in H1 2021, once conditions were met.
  • Annual Recurring Revenue (ARR) for the last twelve months covering the period Q3 2020-Q2 2021 was EUR 263.3m, an increase of 9.5% when compared with the period Q3 2019-Q2 2020, and an increase of 12.0% when measured in local currencies.
  • Free cash flow was EUR 57.8m, an increase of 9.4% when compared with H1 2020.

     

    Subsequent events:

  • As per Company Announcement no. 34/2021, Christian Kromann will succeed Klaus Holse as Chief Executive Officer, effective September 2, 2021. Christian has served as SimCorp Chief Operating Officer and member of the Executive Management Board since August 2019.
  • On July 29, 2021, the EUR 20.0m share buyback program announced on February 10, 2021 was completed. In addition, provided no specific requirements for liquidity arise, SimCorp intends to purchase additional shares for up to EUR 20m over the next four months.

Financial guidance 2021:

  • SimCorp maintains its expectations for 2021, as announced in its Annual Report 2020 and Q1 2021 Interim Report, 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: “Organic revenue growth of 12.7% in local currencies in Q2 2021 has demonstrated strong demand for our quality software and services. We welcomed three new SimCorp Dimension clients and one new SimCorp Coric client in Q2, where order intake also went up by 78.7% compared with Q2 2020. We also welcomed the first hosted SimCorp Dimension client to be on Microsoft Azure, a significant milestone for SimCorp’s cloud transformation journey”

 

Download the full report


Investor presentation

SimCorp’s Executive Management Board will present the report on a conference call Friday, August 13, 2021 at 11 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: 8188227

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/xgrafecw

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 contacts:

Tobias Brun-Falkencrone, Group Communications Director, SimCorp A/S (+45 2938 1284)
Mette Trier, Communications Principal, SimCorp A/S (+45 4060 8296)