FJA AG / Quarter Results/Quarter Results
14.05.2009
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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Corporate News
FJA AG: Underlying economic climate and release developments subdue
first-quarter turnover and income
- At 3.4 million Euro, significant increase in cash flow from operating
activities
- Target is to match last year's record turnover through licence options
in the remainder of 2009
Munich, 14 May 2009 - In the first quarter of 2009, the operating business
of FJA AG (ISIN DE0005130108) was shaped by the development of new releases
for all core products and the initiation of new business. Even though, in
addition to the noticeable impact due to the overall economic climate, this
meant subdued progress for turnover and income, it does offer a basis for
associated increases in the second half of 2009 at the latest.
At 13.8 million Euro, turnover was 9.3% below the comparative figure for
the preceding year. EBIT was 0.2 million Euro, an 80% drop on the preceding
year. This produced earnings per share of 1 cent for the first quarter.
Development of first-quarter cash flow from operating activities was
extremely pleasing with a 577% year-on-year increase to 3.4 million Euro.
Consequently, the cash position rose to 21.0 million Euro at the end of the
first quarter (comparative figure for the preceding year: 18.8 million
Euro).
Outlook:
For the current year and faced with the difficult underlying economic
climate in 2009, the Executive Board has set itself the ambitious goal of
aiming to match last year's record level of turnover. Given the current
cost structure, the target EBIT margin is thus around 8%. Despite the
reduced levels of turnover and income in the first quarter, the Executive
Board believes that although ambitious, this objective is feasible given
the options for new business in the field of licences. As yet, any special
effects from the planned merger to create COR&FJA AG have not been
quantified or taken into consideration.
The financial situation now achieved by the FJA Group provides an excellent
basis for the planned merger with the COR Group that was announced in
March. Although the preparations for this merger will obviously continue to
tie up some management capacities for both companies, the Supervisory Board
and Executive Board of FJA AG believe this is outweighed by the medium to
long-term opportunities on offer.
About FJA:
FJA AG is a leading supplier of software and consulting for the insurance
industry and pensions market. Under its brand name FJA, the FJA Group
offers a broad range of standard software solutions to support insurance
companies and pension providers in all key areas and issues.
Alongside a strong market presence in Germany, FJA software is also used
for 26 countries on five different continents, including the USA and
Australia and a number of Eastern European countries. The company's latest
successes in expanding business abroad have included winning renowned
health and non-life insurers as customers for its US subsidiary.
Currently, the FJA Group employs about 500 people at its head office in
Munich, its German offices in Hamburg, Cologne and Stuttgart and its
subsidiaries in the US, Switzerland, Austria and Slovenia.
The company was founded in 1980 and has been listed on the Frankfurt Stock
Exchange since February 2000. FJA AG was included in the Prime Standard
index in January 2003.
For further information please contact:
Dorothea Kurtz, FJA AG, Elsenheimerstraße 65, D-80687 Munich,
Phone 089 769 01 7002, Fax 089 769 88 13, email dorothea.kurtz@fja.com
Contact:
For further information please contact:
Dorothea Kurtz
FJA AG
Elsenheimerstraße 65
D-80687 München
Phone 089 769 01 7002
Telefax 089 769 88 13
email dorothea.kurtz@fja.com
DGAP 14.05.2009
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Language: English
Issuer: FJA AG
Elsenheimerstraße 65
80687 München
Deutschland
Phone: +49 (0)89 769 01-0
Fax: +49 (0)89 769 88-13
E-mail: investor.relations@fja.com
Internet: www.fja.com
ISIN: DE0005130108
WKN: 513010
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Stuttgart, München, Hamburg, Düsseldorf
End of News DGAP News-Service
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DGAP-News: FJA AG: Underlying economic climate and release developments subdue first-quarter turnover and income
| Source: EQS Group AG