GK Software again set a new record for turnover in 2016 and significantly increased profits, according to provisional figures
Growth in turnover of 23.5 percent to EUR 77.33 million (provisional figures) / EBITDA grew many times over to EUR 7.80 million, EBIT reached EUR 3.94 million / Revenue from cloud solutions developing positively
A significant increase in turnover in all the business units (licenses, services and maintenance) formed the basis for growth during the financial year. Together with SAP it was possible to attract eight new customers in Europe, the USA and Central America to the new OmniPOS solution during the 2016 financial year. The development of this cloud solution, which was officially presented at the beginning of 2016, has therefore proceeded in an extremely positive manner. The first project in Ireland and Great Britain, for example, has already been completely rolled out and three other projects with installations in the USA and Switzerland have now entered productive service for the first time. Regardless of these phenomena, other customers of SAP have opted for the Central Pricing Engine developed by GK (which is also a cloud solution). One major driving force for the improvement in profits has not only been license revenues, but also the significant improvement in revenues in the field of the company’s service business. The measures adopted at the end of 2015 have already had a strong impact.
Based on the provisional results for 2016, a well-filled sales pipeline and the competitiveness of the new OmniPOS solution, which has already been proven, the Management Board is confident that the company will be able to reach the goals set in the medium-term forecast for the period until 2018 and is standing by this without making any changes.
The full financial statement for GK Software will probably be published on 27 April 2017.
GK Software AG
GK Software AG is a leading developer and provider of standard software for the retail sector, and currently counts 20 percent of the world's 50 largest retailers among its customer base. The company offers an extensive range of solutions for stores and enterprise headquarters as well as for the implementation of contemporary omni-channel retail concepts. Thanks to its open and platformindependent software solutions in the GK/Retail Suite, the company has established itself as one of the market's leading providers of technology and innovations. Its solutions enable retail chains with numerous stores to optimize their business processes and to benefit from significant potential for saving costs and implementing customer loyalty programs in order to improve their competitiveness. In addition to its own software solutions, GK Software AG also offers customers a comprehensive range of implementation and maintenance services. Having been acquired in 2013, AWEK GmbH and in 2015, the retail segment of DBS Data Business Systems Inc.
The company employs 840 members of staff (figures for 30 September 2016) across its headquarters in Schöneck (Germany) and other business locations in Germany, Czech Republic, Switzerland, South Africa, Russia and the USA. GK Software AG's customers include many well-known retailers from both Germany and beyond, including Galeria Kaufhof, Parfümerie Douglas, Coop (Switzerland), EDEKA, Hornbach, JYSK Nordic, Lidl, Loblaw, Migros, Netto Marken-Discount and Tchibo. The software is currently being used at 223000,000 installations across approximately 41700,000 stores in 42 countries. The company has grown rapidly in recent years and its sales revenues totaled EUR 62.6 million in 2015. Since launching the company in 1990, the two founders Rainer Gläß (CEO) and Stephan Kronmüller (deputy board member), together with the experienced management team, have shaped GK Software AG into a profitable company exhibiting strong growth.
Further information about the company: http://www.gk-software.com