EQS Group-News: Crealogix Holding AG
/ Key word(s): Annual Results
Ad hoc announcement pursuant to Art. 53 LR
CREALOGIX reports another record revenue: in the 2020/2021 financial year, total sales rose by 5% to around CHF 109 million and recurring sales exceeded 50% for the first time. The major contract with seven development banks in Germany and the consistent pursuit of the SaaS model, with a 27% share of total sales, made a significant contribution to this. CREALOGIX posted a positive net result of CHF 1.1 million before goodwill amortisations.
Having once again posted record revenue, the Swiss fintech company CREALOGIX can look back on a successful 2020/2021 financial year. The net revenue in the second half of the financial year rose by 5.4% to CHF 109.3 million, making it 7.8% higher than in the first six months of the year. Recurring revenue also performed well, surpassing 50% for the first time (2019/2020: 44%). This can be attributed to a consistent shift from a pure licensing model to a SaaS model (Software as a Service). The major contract with seven German development banks, which CREALOGIX secured in the summer of 2020, increased SaaS revenue by 76%. With a share of 27% (2019/2020: 16%), this made a significant contribution to the total revenue.
The operating result (EBITDA) for 2020/2021 is CHF 3.3 million, an increase of CHF 0.8 million (+34.5%) on the previous year. The improved operating margin of 3.0% is also attributable to the organisational changes made and the streamlining of the product portfolio. Net profit before goodwill amortisation amounts to CHF 1.1 million compared to a loss of CHF 0.5 million in 2019/2020.
Development banks offer further growth potential
One of the main objectives for 2020/2021 was to further streamline and modernise the product portfolio. The carve-out at the German location in Coburg and the consistent pursuit of global, functional structures helped CREALOGIX to achieve this goal. In May 2021, a further external nearshore centre was opened in Poland, in addition to the internal development unit in Spain (Barcelona). During the past financial year, a total of around 10% of the workforce was reduced in Central Europe and partially re-established in the nearshore centres.
Increasing demand for digital banking expected
Looking ahead to the 2021/2022 financial year, CREALOGIX expects a continued rise in demand for digital banking solutions - not least due to changing needs in the wake of the Covid-19 pandemic. CREALOGIX will expand its global sales activities and continue to systematically implement its product strategy with increased investments in the first half year of the 2021/2022 financial year and improved profitability margins in the second half year. Thus, CREALOGIX expects a continued positive business development for the overall 2021/2022 financial year. In the 2022/2023 financial year, CREALOGIX anticipates recurring revenues of at least 60%, a SaaS share of at least 30% of total revenues, and profitability at EBITDA level in the double-digit range.
'This year's business results show that we have achieved the goals we set. We are consistently implementing our strategy of focusing on the SaaS model together with our customers,' said Oliver Weber, Chief Executive Officer at CREALOGIX. 'We are convinced that our open Digital Hub model fully meets the steadily increasing requirements of banks, as it allows them to gradually replace their legacy banking software, while attracting new customers with innovative digital products.'
The complete Annual Report 2020/2021 can be viewed via the following link:
End of Media Release
|Company:||Crealogix Holding AG|
|Listed:||SIX Swiss Exchange|
|EQS News ID:||1233112|
|End of News||EQS Group News Service|