Company Announcement no. 01/2021
Q4 2020 highlights:
- In Q4 2020, five new SimCorp Dimension and two new stand-alone SimCorp Coric license deals were signed, of which
- Six deals were included in order intake and revenue
- One deal was included in order intake, but revenue recognition has been deferred.
- In Q4 2020,
SimCorp signed a large multi-year strategic agreement withState Street Bank International GmbH . - Order intake was
EUR 56.6m , an increase ofEUR 21.5m compared with Q4 2019. - Reported revenue was
EUR 146.2m , an increase of 14.3% compared with Q4 2019, primarily due to strong additional license sales. - EBIT was
EUR 58.4m and EBIT margin was 40.0% compared with EBIT ofEUR 34.0m and EBIT margin of 26.6% in Q4 2019. - Free cash flow was
EUR 21.3m , an increase ofEUR 16.4m compared with Q4 2019.
FY 2020 highlights:
- In 2020, 12 new SimCorp Dimension and five new stand-alone SimCorp Coric license deals were signed, of which
- 13 deals were included in order intake and revenue
- For two deals, both order intake and revenue are being recognized over the contract period
- For two deals, both order intake and revenue recognition have been deferred.
- Order intake was
EUR 115.1m , an increase ofEUR 15.4m or 15.5% compared with 2019. - At
December 31, 2020 , the order book amounted toEUR 56.1m , an increase ofEUR 17.9m compared with the order book at the same date last year. - Reported revenue was
EUR 456.0m , an increase of 0.3% compared with 2019. - EBIT was
EUR 124.3m compared withEUR 127.8m in 2019. - EBIT margin was 27.3% compared with 28.1% in 2019.
- Measured in local currencies,
SimCorp achieved revenue growth for 2020 of 1.4% and an EBIT margin of 27.6%, which for revenue growth was in the middle of the guidance range of between minus 2% and plus 4% and for EBIT margin was at the upper end of the range of between 25.0% and 28.0%, both measured in local currencies. - Net profit was
EUR 88.3m compared withEUR 96.9m in 2019. - Free cash flow was
EUR 91.8m , an increase of 29.5% compared withEUR 70.9m in 2019, and cash conversion was 104%. - The net cash position was
EUR 53.1m compared withEUR 11.9m at year-end 2019. - Total assets were
EUR 470.8m atDecember 31, 2020 compared withEUR 437.9m at year-end 2019. SimCorp entered 2021 withEUR 289.2m of the full year’s revenue signed, an improvement ofEUR 10.4m or 4% compared with last year, due to a stronger inflow of professional services agreements.- The Board of Directors intends to recommend to shareholders at the Annual General Meeting 2021 that dividends of
EUR 40.1m be declared at the rate ofDKK 7.50 per share compared withDKK 7.50 last year, equivalent to 45% (2019: 41%) of profit for the year and 44% (2019: 56%) of free cash flow in 2020. - In addition, provided there are no specific requirements for liquidity,
SimCorp expects to initiate a new share buyback program in 2021. The intention is to purchase shares forEUR 40m over the next 12 months in two half yearly buy-back programs ofEUR 20m each.
Subsequent events:
- At the AGM 2021, the Board of Directors will propose
Susan Standiford as new member of the Board of Directors.
Financial guidance 2021:
- For 2021,
SimCorp expects revenue to grow between 6% and 11% and EBIT margin to be between 24.5% and 27.5%, measured in local currencies.
Investor presentation
SimCorp’s Executive Management Board will present the report at a conference call on
From | +45 32720417 |
From | +1 6467413167 |
From other countries: | +44 (0) 2071 928338 |
Pin code to access the call: | 7188469 |
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/pdxhfns3
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.
The Annual Report 2020 is available via this link
https://www.simcorp.com/annual-report-2020
Enquiries regarding this announcement should be addressed to:
Investor contacts:
Media contact:
Mittal Shah, PR Manager – SimCorp
Attachments
- Company Announcement Q4 2020
- Annual Report 2020
- simcorp-2020-12-31
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