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GK SOFTWARE AG confirms dynamic on-track growth
-Revenues in H1 2008 up 45.5% to EUR 7.69 million
-Strong growth also expected in future
GK SOFTWARE AG, a European technology leader in the development and provision of standard software solutions for the retail industry, also continued its dynamic, on-track growth in the first half of 2008. According to final figures, the software company increased its revenues by 45.5% compared to H1 2007 to EUR 7.69 million. At the same time, EBIT lifted by 80.5% to EUR 1.52 million, with the EBIT margin climbing to 21.5% in terms of total operating revenue (previous year:
GK SOFTWARE AG's net income for the period increased to EUR 1.03 million in H1 2008.
This corresponds to earnings per share of EUR 0.62 based on the 1,665,000 shares in circulation on June 30, 2008. Equity increased significantly to EUR 10.71 million on June 30, 2008 in connection with the company's successful IPO on June 19, 2008. As a result, the equity ratio increased to 57.9% at the end of the first half of 2008. The cash flow increased to EUR 1.85 million in the first six months of 2008, and underscored GK SOFTWARE AG's high earnings power.
The significant improvement in revenues and earnings was due to factors including the broader customer base and the successful implementation of several major projects. For example, the company finished the roll-out of its project for "Depot", a new customer from 2007. In addition, the existing client relationships have been intensified and expanded.
Rainer Gläß, GK SOFTWARE AG's CEO and founder is very pleased with the results from the first half of the year. "Our growth is really on track! We plan to increase our customer base still further in future and successfully execute new projects in Germany and abroad. We have created the foundations we need in this regard by going public."
The Managing Board is thus forecasting substantially double-digit growth rates for revenues and earnings in 2008. Profitability is also to expected at a continued high level. The positive outlook is based on factors including the recently acquired major orders, for example for the luxury goods manufacturer ESCADA, the key international project for Coop (Switzerland) and new small and medium business customers. These orders will already be reflected in income in the second half of 2008 and will also form a solid basis for the planned dynamic growth in 2009.
The full six-month report will be published today on GK SOFTWARE AG's Web site in the Investor Relations section.
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