DGAP-Ad-hoc: SNP Schneider-Neureither & Partner SE / Key word(s): Forecast/Preliminary Results
SNP | Insider Information Pursuant to Article 17 MAR
SNP Schneider-Neureither & Partner SE Publishes Preliminary Figures for First Half of 2018 and Adjusts Revenue and Earnings Forecast for the 2018 Fiscal Year
According to preliminary calculations, operating earnings (EBIT; non-IFRS, adjusted for exchange rate effects) came to approximately EUR -3.6 million in the same period (previous year: EUR 0.2 million). The EBIT figure based on IFRS is EUR -6.0 million (previous year: EUR -1.9 million). The EBIT margin (non-IFRS, adjusted for exchange rate effects) is thus -5.6% (previous year: 0.3%); the EBIT margin (IFRS) is -9.3% (previous year: -3.9%).
The development of operating earnings in the first half of 2018 was primarily affected by delays in project completions, which will be achieved later than expected. This resulted in a temporarily lower level of capacity utilization in the field of Professional Services and, in particular, software license revenue from SNP in-house products, which fell short of expectations.
In light of this, the company is updating its forecasts for the development of the Group's revenue and financial performance for the 2018 fiscal year. Overall, the management expects Group revenue of between EUR 135 million and EUR 140 million in the 2018 fiscal year and plans on an operating earnings margin (EBIT margin) in the slightly negative single-digit percentage range. EBIT (non-IFRS) for the year as a whole is largely balanced. An EBIT margin (IFRS and non-IFRS) in the positive single-digit percentage range is expected again in the second half of the year.
The management originally forecast Group revenue of between EUR 150 million and EUR 155 million in the 2018 fiscal year and an operating earnings margin (EBIT margin) in the mid-single-digit percentage range.
Furthermore, SNP expects an IFRS and non-IFRS EBITDA for the year as a whole in the lower and mid-single-digit million ranges, respectively.
SNP is pursuing a clear strategic plan so that it can participate in the emerging wave of digitalization in companies worldwide. Against this background, SNP has made initial investments as a first step aimed at strengthening its international focus and therefore its efficiency and ability to deliver to customers. Alongside the integration and implementation of the new units, the focus is now on transforming the strategic growth course of recent years into sustainable profitability.
The management is therefore adhering to its overriding medium-term target for structural profitability growth, irrespective of the operating snapshot at the end of the first half of 2018. The increased share of software license revenue in the total revenue and related economies of scale in particular will result in wider operating margins over the medium to long term.
On presentation of the audited Half-year Financial Report 2018 on August 2, 2018, the company will offer a conference call.
SNP supports organizations in adapting their business models and using new technologies. SNP software and services facilitate the implementation of business or technical modifications to business applications.
CrystalBridge(R) and Transformation Backbone(R) together with SAP LT are the world's leading software suite for data transformations that automatically analyzes, implements and tracks changes to IT systems. As a result, they offer clear qualitative advantages, while significantly reducing the time and expense involved in transformation projects. The SNP Group has over 1,350 employees worldwide.
Headquartered in Heidelberg, the company generated revenue of approximately EUR 122 million in the 2017 fiscal year. SNP's customers are global corporations from all industries. SNP was founded in 1994 and has been publicly traded since 2000. As of August 2014, the company is listed on the Prime Standard segment of the Frankfurt Stock Exchange (ISIN DE0007203705). Since 2017, the company has operated as a European stock corporation (Societas Europaea/SE).
Further information is available at www.snpgroup.com
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25-Jul-2018 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
|Company:||SNP Schneider-Neureither & Partner SE|
|Dossenheimer Landstraße 100|
|Phone:||+49 6221 6425 637|
|Fax:||+49 6221 6425 470|
|Listed:||Regulated Market in Berlin, Dusseldorf, Frankfurt (Prime Standard), Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange|
|End of Announcement||DGAP News Service|
707885 25-Jul-2018 CET/CEST