OPENLiMiT Holding AG / Half Year Results
22.08.2008
Release of a Corporate News, transmitted by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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- Revenues for the first half year 2008 increased by 39% in comparison to
the same period of the previous year.
- Acquisition of additional important customers, cooperations and
distribution partnerships.
- New OPENLiMiT software releases.
- Generally good development of the young signature market.
- Optimistic outlook maintained for the full year 2008.
Baar, Switzerland, August 22, 2008
General Development
OPENLiMiT and the market for OPENLiMiT products in the target markets of
Germany, Switzerland and Austria have developed positively in the first
half year 2008. OPENLiMiT was able to acquire several hundred new customers
and, in particular, several new reference customers. On the one hand, these
trigger a signal effect in the pertinent vertical markets, and on the
other, they have a pioneer character for further solutions of a similar
kind. The new reference customers include: ISmed Gemeinschaft, Tally WEiJL
and Unfallkasse Post und Telekom. The implemented solutions reflect the
broad usage spectrum for OPENLiMiT technologies, ranging from mail inbox
processes, to batch processing of outbound documents (e.g., electronic
invoices) to single workstation licenses to enable working with
legally-binding electronic signatures for correspondence, email and
authentication.
X.KEY GmbH, a company specialized in the marketing and distribution of
signature solutions, was acquired as a new distribution partner in Austria.
A new technology partner, for example, is Oracle Deutschland GmbH. The
focus of the cooperation with Oracle and the partner in common, Fujitsu
Siemens Computers GmbH, is the extension of the Oracle middleware strategy
with select OPENLiMiT technologies.
With the launch of the new OPENLiMiT website, OPENLiMiT has implemented a
highly efficient and up-to-date sales and marketing tool. The market
visibility was increased by the participation in numerous exhibitions and
conferences in Germany, Austria, Brazil and the USA. The participation at
the following exhibitions and conferences are particularly noteworthy:
CeBIT in Hannover, ITnT (Trade Fair for Information Technology and
Telecommunication) in Vienna, Citrix iForum 08 in Munich, 11. Deutschen
Verwaltungskongress Effizienter Staat (Efficient State) in Berlin and the
2. Berliner Signaturkonferenz (2nd Berlin Signature Conference). At these
events new OPENLiMiT technologies were released, prototypes of the next
OPENLiMiT product generation were exhibited and the close collaboration
between OPENLiMiT and its distribution partners was demonstrated. The
participation at the exhibitions resulted in numerous articles in various
publications.
The product development achieved important successes. The new OPENLiMiT
software was released. Special configurations and versions of the new
release, one for Microsoft, one for the Deutscher Sparkassenverlag and one
for the German Bundesverband der Betriebskrankenkassen (Federal Association
of Health Insurers), were certified by the German Federal Office for
Information Security (BSI) according to Common Criteria, an internationally
recognized IT security standard. In March, the Common Criteria Certificate
for the OPENLiMiT SignCubes Base Components for Microsoft InfoPath
Technology was handed over by the BSI at the CeBIT. This technology opens
an additional market in conjunction with Microsoft technologies for
OPENLiMiT. The strategic distribution network of OPENLiMiT is selling the
products.
In general, the signature market continues to develop very positively. The
Federal Cabinet in Germany passed new legislation in the first half year:
the Electronic Proof of Income Act (ELENA) and the electronic ID-Card
(elektronischer Personalausweis, ePA). Both are very positive for the
medium-term market development, as the laws advance the market penetration
of signature technologies and partially even mandate their use. OPENLiMiT
is technologically well prepared to take advantage of these developments,
also due to its broad network of strategic distribution partners.
Operative Development of the OPENLiMiT Group
Revenues for the first half year reached CHF 1257584, an increase of 39%
in comparison to the same period of the previous year (CHF 903935), due to
increasingly positive market conditions. With company produced additions to
software development, the total income for the period increased by 25% to
CHF 2205431, up from CHF 1758960 for the same half year period 2007.
Although total income increased, earnings before interest and taxes (EBIT)
decreased from CHF -531707 for the first half year 2007 to CHF -1083764
for the first half year 2008. The main expenses that caused an increase in
EBIT loss were higher total wages/salaries and associated social insurance
contributions, as the number of employees increased from 33 in the first
half year 2007 to 41 in the first half year 2008, higher external service
expenses, due to an increase in the number of external sales and business
consultants, and substantially higher depreciation expenses, up by 563%
from CHF 85677 in the first half year 2007 to CHF 568105, primarily based
on the depreciation of accumulated company produced additions to software
development.
The loss for the period consequently increased from CHF -414579 for the
first half year 2007 to CHF -1310123 for first half year 2008, affected
also by the adverse exchange rate development between the Euro and Swiss
franc (sales are predominantly invoiced in Euros, but recorded in the
stronger Swiss Franc).
Cash flow from operating activities was positive for the first half year
2008, up 349% from CHF -693507 in the first six months 2007 to CHF
1723760 in the first six months 2008. The positive development is
primarily based on a decrease in account receivables, as customers, in
particular from late December 2007, paid off their respective accounts
during the current period. With minor interest received and slightly higher
investments in intangible assets and equipments over the same period of the
previous year, the net cash and cash equivalents position was increased
from CHF 1608660 in the first half year 2007 to CHF 664091 in the first
half year 2008.
The complete half year report may be viewed under the following link:
http://download.openlimit.com/website/OLHO/OLHO_Halfyearreport_2008.pdf
Outlook
The OPENLiMiT management expects a similar growth pattern this year as in
previous years, resulting in a high percentage of annual revenues occurring
in the second half year, especially within the last quarter. Based on the
projects currently in discussion, we can expect to achieve revenues of CHF
7.6m (compared to CHF 4.8m for the previous year) and a positive net income
result.
About OPENLiMiT
OPENLiMiT develops software solutions for the application of electronic
signatures and encryption, which enhance the security, provability and
efficiency of electronic communication processes, workflow and data. The
OPENLiMiT® SignCubes Base Components 2.1 were certified according to the
IT-security standard, Common Criteria EAL 4+, by the German Federal Office
for Information Security (BSI). The OPENLiMiT technologies are marketed by
large strategic partners.
For additional information, please visit www.openlimit.com.
Legal Disclaimer:
This press release contains forward-looking statements. Forward-looking
statements are statements which do not describe actual facts from the past;
they also comprise statements about our assumptions and expectations. Everystatement in this press release which reflects our intentions, assumptions,
expectations or forecasts (together with the assumptions that give rise to
our views) constitutes a forward-looking statement. These statements refer
to plans, estimates and forecasts which are currently available to the
management of OPENLiMiT Holding AG. Thus forward-looking statements only
refer to the day on which they were made. We shall accept no obligation to
adjust and/or publicize such adjusted statements in the light of new
information or future results.
DGAP 22.08.2008
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Language: English
Issuer: OPENLiMiT Holding AG
Zugerstrasse 76 b
6341 Baar
Schweiz
Phone: +41 41-560-1020
Fax: +41 41-560-1039
E-mail: investor@openlimit.com
Internet: www.openlimit.com
ISIN: CH0022237009
WKN: A0F5UQ
Listed: Regulierter Markt in Frankfurt (General Standard);
Freiverkehr in Berlin, München, Stuttgart
End of News DGAP News-Service
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DGAP-News: OPENLiMiT Holding AG: Results of the First Half Year 2008
| Source: EQS Group AG