itelligence AG publishes detailed key figures for Q1 2015

itelligence AG has begun the new fiscal year with growth in revenues of 40.0%. In the first quarter revenues therefore increased to MEUR 160.4 after MEUR 114.6 in the same period of the previous year. This rise is due to both organic growth (19.8%) and the companies acquired last year (20.2%). Revenues therefore include GISA GmbH’s contribution of MEUR 22.5. Orders on hand climbed by 74.5% to MEUR 643.2 as of March 31, 2015 (March 31, 2014: MEUR 368.5).

Herbert Vogel, CEO of itelligence AG, said: “The revenue growth in the first quarter was a positive and important step for 2015. Our goal is still to grow by more than 10% over the year as a whole and we already have an excellent launch pad for this. We currently have an outstanding positioning, especially internationally, for continuing the successful trajectory of recent years.”

In the revenue areas, Consulting revenues increased by 24.2% from MEUR 57.1 to currently MEUR 70.9. License business posted the highest percentage increase with revenue growth of 92.2% from MEUR 6.4 to MEUR 12.3. Revenues in Outsourcing & Services rose by 61.8% year-on-year from MEUR 36.4 to MEUR 58.9. Revenues in Application Management climbed by 23.4% from MEUR 14.5 to MEUR 17.9 in the first quarter of 2015.

In terms of geographical distribution, itelligence again saw a particularly strong rise in revenues in its largest segment, Germany/Austria/Switzerland (DACH). Revenues here were up by 57.7% at MEUR 75.4 after MEUR 47.8 in the previous year. Western Europe also generated substantial growth in revenues of 22.7%, from MEUR 27.7 to MEUR 34.0 in the first quarter. In Eastern Europe itelligence increased its revenues by 10.9% from MEUR 13.8 to MEUR 15.3.

The US segment also put in an excellent performance with growth of 44.2%, generating revenues of MEUR 32.3 after MEUR 22.4 in the previous year. The Asia segment posted revenues of MEUR 2.3 in the first quarter of 2015 after MEUR 1.6 (up 43.8%) in the same period of the previous year. Finally, the Other segment effectively matched the previous year’s level at MEUR 1.1 (previous year: MEUR 1.3).

itelligence AG also improved its earnings significantly, with EBIT climbing to MEUR 4.9 in the first three months of 2015 (previous year: MEUR 1.7) and thus almost tripling. The EBIT margin was 3.1% as against 1.5% in the same period of the previous year. EBITA after the first three months also climbed substantially by 160% to MEUR 6.5 after MEUR 2.5 in the previous year. The EBITA margin improved to 4.1% after 2.2% in the same quarter of the previous year.

Norbert Rotter, CFO of itelligence AG, said: “We have taken an excellent first step with these earnings figures in the first quarter. We are also highly optimistic for our ongoing performance in the current fiscal year. The investments in growth areas in recent years, such as establishing the global AMS organization, are paying off. We are also getting a boost from the good economic situation on our core markets of Germany, the UK and the US.”

For 2015 as a whole the Board of Management is forecasting growth in revenues to more than MEUR 600, an increase of more than 10%. The improvement in earnings is expected to outpace even this. The goal here is for an EBIT margin of more than 5%.

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