NTT DATA Business Solutions

itelligence AG presents final figures for fiscal year 2012


• Significant revenue increase by 18.9% to MEUR 407.1
• Forecast for 2013: Revenue growth to MEUR 450-470 with EBIT margin of more than 6%
• Dividend proposal of 0.06 cents per share

Bielefeld, March 21, 2013 – With the publication of its annual financial statements, itelligence AG is confirming its preliminary figures for fiscal year 2012. Revenues increased by 18.9% to MEUR 407.1 (previous year: MEUR 342.4). This dynamic development was attributable primarily to continued strong organic growth of 16.5%, while the companies acquired in the past year led to a 2.4% increase in revenues. Orders on hand rose by 21.7% to MEUR 286.6 as of December 31, 2012, compared to MEUR 235.5 at the end of 2011.

Herbert Vogel, CEO of itelligence AG, comments: “We are very satisfied with the growth in revenues in 2012. The organic growth of 16.5% in particular is significantly higher than the sector trend. This shows that we have gained additional market share. Our focus in 2013 will be on a significant improvement in profitability.”

In the individual revenue areas, Consulting continued to develop positively with growth of 10.8%. Revenues in this division increased from MEUR 190.9 to MEUR 211.5. In the Outsourcing & Services division, revenues climbed by 29.5%, amounting to MEUR 116.3 after MEUR 89.8 in the previous year. The Application Management division recorded the highest percentage increase in revenues of 73.4%, from MEUR 23.3 to MEUR 40.4. Revenues in the Licenses division rose by 2.1% from MEUR 37.5 to MEUR 38.3 in fiscal year 2012.

In terms of geographical distribution, itelligence again recorded strong revenue growth in Western Europe. Revenues here were up 30.2% at MEUR 86.7 (previous year: MEUR 66.6). The USA segment also put in a strong performance with growth of 12.9%, generating revenues of MEUR 92.6 as compared to MEUR 82.0 in the previous year. In the largest segment, DACH (Germany/Austria/Switzerland), revenues increased by 13.1% from MEUR 163.6 to MEUR 185.0. Eastern Europe generated substantial growth in revenues of 44.8% from MEUR 22.1 to MEUR 32.0 in 2012.

The Asia segment also recorded high growth of 70.3% in the past fiscal year, from MEUR 4.1 in 2011 to MEUR 7.0, while revenues in the Other segment were down slightly at MEUR 3.8 after MEUR 4.0 in the previous year.

Owing to extraordinary items, itelligence AG’s earnings could not keep pace with the strong revenue development. Earnings before interest and taxes (EBIT) were down 5.5% at MEUR 19.2 in fiscal year 2012 after MEUR 20.4 in the previous year. Accordingly, the EBIT margin was 4.7% as against the previous year’s level of 6.0%. By contrast, consolidated net profit increased to MEUR 13.7 in the current fiscal year due to an improvement in financial results and a lower tax rate (29.0%; previous year: 34.1%). It was therefore 7.0% higher than the previous year’s figure of MEUR 12.8. As a result of the higher number of shares as compared to the previous year, earnings per share amounted to EUR 0.44 after EUR 0.46 in 2011. Due to the considerably lower earnings at itelligence AG (MEUR 2.0 after MEUR 6.5), the Management Board and the Supervisory Board will propose a dividend distribution of EUR 0.06 (previous year: EUR 0.18) to the Annual General Meeting. This would increase the distribution ratio in relation to itelligence AG to 92% after 68% in the previous year.

Norbert Rotter, CFO of itelligence AG, comments: “In view of the decline in the Group’s EBIT margin, we will place a clear focus on sustainably improving profitability in the coming year. This will include measures to reduce costs and the strategic expansion of the fast-growing application management business. We will continue to increase the number of new customers.” In light of the encouraging order situation, itelligence AG’s strong market positioning and the good performance of the acquired companies, the Management Board is forecasting further growth in revenues and an improvement in the earnings situation
in fiscal year 2013. Revenues in 2013 are expected to amount to between MEUR 450 and MEUR 470, corresponding to a rise of 10% to 15%. Earnings are expected to record a stronger improvement than sales. itelligence aims to achieve an EBIT margin of more than 6%.

itelligence is one of the leading international full-service providers of solutions in support of SAP solutions, employing more than 2,800 highly qualified employees in 21 countries and in five regions (USA, Asia, Western Europe, Eastern Europe and Germany/Austria/Switzerland). As a frequently awarded SAP partner, among others global value-added reseller, SAP Certified in Cloud Services and SAP Gold Partner Business ByDesign, itelligence realizes complex projects in the SAP solution-based environment for over 5,000 customers worldwide. In 2006, itelligence obtained gold-level status as an SAP channel partner as part of the SAP PartnerEdge program in Germany, and in the U.S. in 2007. The company’s services in support of SAP solutions range from Consulting and Licensing to Application Management and Outsourcing & Services to proprietary industry-specific SAP. In 2012, itelligence generated total sales of MEUR 407.1. itelligence is “Top Consultant” 2012.