GK Software continues to grow strongly according to provisional figures
- Turnover reaches EUR 90.5 million, medium-term forecast for 2018 almost met
- Significant growth in cloud turnover
- Another significant project gained in the USA in Q1 2018
GK Software SE continued its successful growth course in the 2017 financial year, according to provisional figures. Turnover increased by 17.0 percent to a figure of EUR 90.45 million (EUR 77.33 million in the previous year). It was therefore possible to almost meet the target for this key performance indicator early; this had not been expected until 2018 in the previous medium-term forecast. In terms of the EBIT, the stabilisation process from the previous two years continued to be consolidated. EBIT therefore grew even more strongly than turnover during the past financial year and reached a figure of EUR 4.9 million. The increase was 23.6 percent compared to the previous year.
The Management Board is very happy with these results, as, viewing things generally, it was possible to exceed the results from the previous year even more significantly. For one thing, the company was able to register its first significant software-as-a-service turnover (SaaS) in 2017; this success was achieved earlier than expected as a result of the "cloud4retail" cloud strategy. Success was obtained in 2017 despite certain factors opposing this process. In addition to the transition phase towards SaaS, there were special effects primarily from the transformation of the company into an SE, the issue of a convertible bond and the acquisition of prudsys AG. As it was possible to almost meet the goals of the forecast set until 2018 through the results that have been achieved, a new medium-term forecast until 2020 will be published with the coming financial report.
This positive development also continued during the first quarter of 2018 and several important sales success stories have already been registered. Gaining a significant project in the USA is particularly important in this process, as it will create a new reference in this important market. As part of this project, GK Software will put more than 6,000 new installations into productive service. In addition, one of GK Software's very important existing customers has signed a contract to switch to the OmniPOS system. The Management Board is expecting other existing customers as well as new ones to opt for OmniPOS during the current financial year.
Based on the preliminary results for 2017, a well-filled sales pipeline and the competitive strength of the OmniPOS cloud solution, the Management Board is confident that the Company will be able to continue to grow.
The complete financial report from GK Software will probably be published on 26 April 2018.
About GK Software SE GK Software SE 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 platform-independent 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 SE 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. In 2017, the company acquired a majority shareholding in prudsys AG, a company focused on artificial intelligence.
The company employs 975 members of staff (figures for 30 September 2017) across its headquarters in Schöneck (Germany) and other business locations in Germany, Czech Republic, Switzerland, South Africa, Russia, Ukraine and the USA. GK Software SE'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 248,000 installations across approximately 41,700 stores in 50 countries. The company has grown rapidly in recent years and its sales revenues totaled EUR 77.3 million in 2016. 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 SE into a profitable company exhibiting strong growth.
Further information about the company: http://www.gk-software.com
Investor Relations GK Software SE Dr. René Schiller Phone: +49 (0)37464-84-264 Fax: +49 (0)37464-84-15 E-mail: email@example.com
17.04.2018 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.deLanguage: English Company: GK Software SE Waldstraße 7 08261 Schöneck
Germany Phone: +49 (0)3 74 64 84 - 0 Fax: +49 (0)3 74 64 84 - 15 E-mail: firstname.lastname@example.org Internet: www.gk-software.com ISIN: DE0007571424 WKN: 757142 Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Munich, Stuttgart, Tradegate Exchange End of News DGAP News Service