Interim report as of 30 June 2010 – SimCorp A/S

Aug 26, 2010 - Announcement
SimCorp’s business performed broadly in line with expectations in the first six months of the year. At EUR 85.2m, H1 revenue decreased marginally compared with the year-earlier period. After increased costs for expansion of sales and distribution activities as well as non recurring costs during the six months, EBIT for the period was EUR 5.9m compared with EUR 14.6m in H1 2009.

SimCorp retains its projections for 2010 of a reported revenue growth and an overall business growth of around 10%. The projections are based on the prevailing exchange rates which positively have impacted the projected level for SimCorp’s reported revenue growth. In addition it should be noted that the financial forecast is subject to greater uncertainty than in previous years, as part of the growth is assuming conclusion of new license orders this year, which involve some uncertainty in respect of timing and recognition in the income statement. Given the above assumptions and uncertainty, the EBIT margin for 2010 is still expected to be around 22%.

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