- Net earnings increased 11% to CHF 39.7 million. This corresponds to growth of 8% in local currencies.
- The EBITDA reached CHF 4.4 million. The EBITDA margin was 11%.
- With 58% foreign sales, for the first time the Group generated more outside of Switzerland.
- With the integration of software company Innofis, acquired in January, CREALOGIX enters new markets in the Middle East.
- The Group looks set to achieve its goal for the entire 2017/18 financial year communicated in autumn of 2017.
While business activities in the Swiss market remained stable, the Group grew particularly in Germany. For example, thanks to CREALOGIX solutions, Helaba (Landesbank Hessen-Thüringen Girozentrale) transformed itself into a digital regional bank. Since the beginning of March 2018, it has offered its real estate and corporate customers modern digital client portals. Market perception in Asia is also increasing. According to the trade magazine APAC CIO Outlook, the Group is one of the 25 strongest fintech companies in the Asia-Pacific region (APAC). In addition, the information platform Asian Private Banker presented the Group with the Technology Award 2017 as the best mobile/tablet app developer.
Positive results: CREALOGIX looks back on a successful half-year
Banks are making the most of the advantages of an open financial ecosystem and transforming their infrastructure towards "open banking". CREALOGIX recognised this global trend at an early stage and provides with the "Digital Banking Hub" a state-of-the-art solution. The results reflect various successful licence and project deals with customers. In the first half of the financial year, sales increased by 11% to CHF 39.7 million. This corresponds to growth of 8% in local currencies. Business activities outside the Swiss domestic market accounted for 58% of this figure. The EBITDA for the first half of the year was CHF 4.4 million. This corresponds to an EBITDA margin of 11% and was more or less in line with the previous year margin (12%). Earnings per share increased from from CHF 0.56 to CHF 1.03 compared to the same period in the previous year. The equity ratio was 53% (previous year: 37%).
Outlook
CREALOGIX is well on its way to achieving its goal for the entire 2017/18 financial year communicated in the autumn of 2017. The Group anticipates sales growth of around 15% (including acquisitions). An EBITDA margin of more than 10% is expected for the current period, even with increased integration expenses for Spanish software company Innofis, which was acquired in January 2018. With its customer base, Innofis paves the way to new markets in the Middle East.
"Innofis’ know-how in ‘Islamic Banking’ will have a positive impact on activities in Middle East and part of the Southeast Asian markets, not least because of strategic cooperations with local software partners and implementers of the Digital Banking Hub."
Thomas Avedik, Chief Executive Officer of CREALOGIX Group
In the mid-term, the Group expects annual sales growth of more than 20%. The share of sales outside the Swiss domestic market is expected to rise to around 70%. Furthermore, it aims to achieve profitability (EBITDA) of more than 15%.
