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4-Traders Homepage  >  Equities  >  Xetra  >  EQS Group AG    EQS   DE0005494165

EQS GROUP AG (EQS)
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EQS : with high investment activity in the third quarter

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11/15/2017 | 08:06am CET

15.11.2017 / 08:00
The issuer is solely responsible for the content of this announcement.

EQS Group AG with high investment activity in the third quarter
Guidance for 2017 confirmed

Munich - November 15, 2017

EQS Group AG (ISIN: DE0005494165) significantly expanded its investment activities in the third quarter of 2017 through the development of new products related to impending new regulations. This resulted in a temporary burden on earnings compared to the strong prior-year period. Newly-developed cloud solutions currently introduced in the market are receiving high acceptance.

From July to September, the Group generated sales revenues of EUR7.015 million, 9% less than in the same period in 2016. EBIT before scheduled amortization of acquired customer bases and acquisition costs (non-IFRS) decreased to EUR71 thousand. Adjusted consolidated net income is -EUR399 thousand. Adjusted earnings per share amount to -EUR0.40.

The figures for the first nine months are as follows: revenues of EUR22.029 million (+22%), EBIT (non-IFRS) decreased by 50% to EUR983 thousand, and consolidated net income (non-IFRS) of -EUR436 thousand. Earnings per share (non-IFRS) are -EUR0.33 (previous year: EUR0.06).

Part of investments were allocated to the product development of ARIVA.DE's ARS-COCKPIT cloud software, which is scheduled to go to market in conjunction with the upcoming PRIIP Regulation, which takes effect at the beginning of 2018. The PRIIP Regulation requires issuers to provide pre-contractual key information documents. The ARS-COCKPIT offers companies a comprehensive service for the handling of these documents.

Additional investments were made to complete the Legal Entity Identifier (LEI) issuing platform and the new SAFE CHANNEL compliance product, a whistleblowing solution that enables anonymous and secure reporting of legal violations within companies.

These investments are already proving successful, with EQS's newly developed products garnering a positive resonance with the market. A significant number of clients have signed on long-term to the ARS-COCKPIT, six weeks before its market launch. In addition, several customer contracts for the SAFE CHANNEL tool have been secured before the product's official roll-out. These successful pre-sales underpin our anticipated positive market responses to our cloud solutions. Furthermore, our LEI issuing platform has issued numerous entity identifiers to companies in Germany and abroad, exceeding our expectations.

Achim Weick, Founder and CEO of EQS Group AG stated: 'These upcoming regulations give us the opportunity to reach new customer target groups and subsequently grow EQS in a whole new dimension. Although the associated investments in product development have a short-term impact on results, they will lead to consistent, highly-profitable cloud sales in the near future, guaranteeing the future positive business development of EQS Group AG. '

Consolidated sales of EQS Group AG increased by 22% in the first nine months of 2017. Adjusted for revenues from the majority holding of ARIVA.DE AG (67.5%), growth was 9%. Domestic business, including the large share of ARIVA.DE AG in Germany, achieved 28% growth, compared to the 3% growth in foreign businesses.

Domestic sales momentum at EQS Group AG continued to be driven by the European Market Abuse Regulation and corresponding increased ad-hoc obligations for a growing number of issuers, as well as extensive insider regulations. The newly-developed INSIDER MANAGER was established as a standard workflow solution for investor relations departments in Germany, and is enjoying increasing demand in other European countries.

The largest percentage growth abroad was achieved by our subsidiary in the UK, which increased its revenue by 33% to EUR341 thousand in the first nine months. The French subsidiary, which is in the process of being established, also developed positively. Despite being founded very recently, the company has already acquired nine CAC 40 companies as an initial customer base.

Unchanged outlook

The Management Board expects revenues of EUR31.2 to EUR32.5 million for the 2017 financial year. EBIT before one-off acquisition costs, purchase price allocation, and scheduled depreciation (non-IFRS) will decrease to EUR2 to EUR2.3 million (previously EUR3.6 million to EUR3.9 million) as a result of the investment program undertaken in 2017.

The outlook of EQS Group AG was adjusted with the September 26, 2017 publication of the company decision to expand its strategic direction and to develop the business area of Governance, Risk & Compliance (GRC). Sales growth of 10%-15% is expected for FY2018 and is expected to increase to 15%-20% beginning in 2019.

Management will present the results at 11:00 am (CET) in today's telephone conference, broadcasted live online at www.eqs.com.

Key figures (IFRS) 9M 2017 9M 2016 +/-
Revenues (in EUR mn) 22.029 18.018 22%
Non-IFRS* EBIT (in EUR mn) .983 1.970 -50%
EBIT (in EUR mn) .464 1.520 -69%
Non-IFRS* Group Earnings (in EUR mn) -.436 70** >-100%
Group Earnings (in EUR mn) -.703 -.162** >100%
Non-IFRS* Earnings per Share (EUR) -0.33 0.06** >-100%
Earnings per Share (EUR) -0.54 -0.14** >100%
Operating Cash Flow (in EUR mn) -.126 2.294** >-100%
Liquid Funds (in EUR mn) .273 6.610*** -96%
Employees (average of the reporting period) 350 242 45%

* Non-IFRS key figures before amortization of acquired customer bases, purchase price allocation, and acquisition expenses

** Prior-year figures adjusted. We refer to item 2. 'Significant accounting and valuation methods' (2.4 Changes in the previous year's figures) in the notes to the consolidated financial statements as of Dec. 31, 2016
*** as of Dec. 31, 2016

More information:

The figures for 9M 2017 are unaudited.

Receive news from EQS Group AG free of charge on your mobile device: via DGAP News App directly to your AppleWatch or iPhone (http://newsapp.dgap.de/).

About EQS Group

EQS Group is a leading international technology provider for Investor Relations, Corporate Communications and Compliance. More than 8,000 companies worldwide trust EQS's products and services to securely, efficiently, and simultaneously fulfil complex national and international disclosure and compliance requirements, and to reach stakeholders globally.

The EQS COCKPIT, a cloud-based platform, digitally maps the workflows of IR, Communications and Compliance Officers, communicates with the company's website, and distributes company releases via one of the most important global newswires. With additional products such as websites, IR tools, digital reports, and webcasting solutions, EQS Group is a digital single source provider.

EQS Group was founded in Munich, Germany in 2000 and has developed from a start-up to an international group with offices in the world's key financial markets. The group employs around 400 professionals globally.

Contact:

André Marques

Head of Investor Relations

Tel.: +49 89-21029833

Mobile: +49 175-5250009

Email.:[email protected]

15.11.2017 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de

EQS Group AG published this content on 15 November 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 15 November 2017 07:04:14 UTC.

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Sales 2017 32,2 M
EBIT 2017 1,98 M
Net income 2017 0,07 M
Debt 2017 8,00 M
Yield 2017 0,59%
P/E ratio 2017 1 114,78
P/E ratio 2018 305,97
EV / Sales 2017 2,85x
EV / Sales 2018 2,51x
Capitalization 83,9 M
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Number of Analysts 3
Average target price 57,7 €
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NameTitle
Achim Weick Chief Executive Officer
Rony Vogel Chairman-Supervisory Board
Christian Pfleger Chief Operating Officer
Robert Wirth Deputy Chairman
Peter C. Conzatti Member-Supervisory Board
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