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

(PresseBox) ( Schöneck, )
According to provisional figures, GK Software was once again able to significantly increase its turnover to EUR 77.33 million and exceed the previous year’s figure of EUR 62.6 million by 23.5 percent. The EBITDA reached EUR 7.80 million, following a figure of EUR 2.2 million in 2016 and therefore improved by 258 percent. In line with the provisional figures, the EBIT amounted to EUR 3.94 million and therefore increased by EUR 5.22 million over the previous year’s figure (2015 EBIT, EUR (1.28) million). This provided an EBIT margin on turnover of 5.1 percent (in the previous year: (2.0)). Overall, profits for 2016 were at the upper end of the company’s expectations and were within the medium-term forecast for the period until 2018.

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.
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