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CREALOGIX GROUP (FRA:CH001111) EQS-Adhoc: CREALOGIX reports sales growth and improved profitability in the first half of 20/21

Transparency directive : regulatory news

16/03/2021 07:00

EQS Group-Ad-hoc: Crealogix Holding AG / Key word(s): Miscellaneous
CREALOGIX reports sales growth and improved profitability in the first half of 20/21

16-March-2021 / 07:00 CET/CEST
Release of an ad hoc announcement pursuant to Art. 53 KR
The issuer is solely responsible for the content of this announcement.


CREALOGIX increases total sales by 8.1 per cent in the first half of the 20/21 financial year. The implementation of the chosen strategy to become a leading SaaS provider is advancing apace and recurring sales passed 50 per cent for the first time.

The CREALOGIX Group has successfully taken its place amid the international competition in the first half of 20/21 and its progressive transformation to become a Software as a Service (SaaS) provider is reflected positively in the half-yearly figures. Total sales rose by 8.1 per cent year on year, up to CHF 52.6 million. Recurring sales increased again, accounting for 50.1 per cent of total sales (previous year: 46.7 per cent). Within recurring sales, it was primarily sales from the SaaS model and hosting services that grew compared to the first half of 2019/2020. The latter rose by 64.4 per cent, from CHF 8.0 million to CHF 13.2 million.

The EBITDA margin was 2.2 per cent, an improvement of 1.3 per cent points over the previous year. In absolute figures, EBITDA was CHF 1.2 million, an improvement of CHF 0.7 million. As a result, net profits excluding the amortisation of goodwill just barely returned to the profit zone after a loss in the previous year. Increased expenditure in new technologies and improved processes pushed free cash flow slightly into negative territory at CHF 1.5 million. Despite the repayment of a bank loan of CHF 5 million, the balance sheet showed a solid cash position of CHF 30.1 million at the end of the first half of the year, which is why net cash remained almost the same as on 30 June 2020 at CHF 4.6 million. 

New clients and ongoing projects drive growth
Growth at CREALOGIX in the first half of 20/21 was driven by the acquisition of new clients and by the successful delivery of projects. The spin-off of the service business with its 50 employees at Coburg in Germany and the rationalisation of the product portfolio in the course of the transformation also contributed to this market reorientation. Additional clients and projects were also acquired in the context of some major digitisation initiatives in the first half of 20/21. These will have a positive effect on CREALOGIX results in the long term.

'The positive effects of the transformation are taking hold and contributing to sustainable growth at CREALOGIX. We are delighted that in an extremely demanding environment, dominated as it is by the coronavirus pandemic, we have been able to continue the successful development of our company,' says Oliver Weber, CEO of CREALOGIX.

Outlook
CREALOGIX will not be able to escape the external effects of the global pandemic, its impact on the economy, and on clients' willingness to invest. We therefore expect a dampening effect in the coming months, especially if the return to normality takes longer. In the medium term, however, we do not foresee any negative impact on our business due to the pandemic.

The half-year report is available for download in the results centre on the investor relations webpage.



End of ad hoc announcement
Language: English
Company: Crealogix Holding AG
Badenerstrasse 694
8048 Zürich
Switzerland
Phone: +41787775648
E-mail: michael.fischer@crealogix.com
Internet: www.crealogix.com
ISIN: CH0011115703
Listed: SIX Swiss Exchange
EQS News ID: 1175826

 
End of Announcement EQS Group News Service

1175826  16-March-2021 CET/CEST

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