- Revenue growth of +16 per cent: Net sales in the 1st half of 2015/2016 increased to CHF 27.9 million
- Back to positive EBITDA (improved by CHF 6.4 million)
- International share of sales increased to 37 per cent
- 59 per cent product share of sales
- Largest Swiss fintech financing transaction in 2015: CHF 25 million
- Germany as a second home market: enlarged group of clients thanks to joining the ELAXY Group
On course for international growth
The CREALOGIX Group's results for the first half of 2015/2016 are somewhat better than planned. The share of international sales rose to 37 per cent in the first half of 2015/2016 (prior year: 26 per cent).
Overall, the CREALOGIX Group reported significant growth in sales of +16 per cent.
The consistent and continuous implementation of our business strategy has paid off. The CREALOGIX Group’s EBITDA improved significantly in the first half of 2015/2016 to plus CHF 0.12 million, compared to a negative CHF 6.3 million in the same period in the previous year.
Largest Swiss fintech financing transaction in 2015
In 2015, CREALOGIX successfully executed Switzerland’s largest fintech financing transaction. The convertible bond launched on 22 October 2015 was heavily oversubscribed, which allowed it to be successfully placed with the maximum amount of CHF 25 million. A considerable part of these proceeds was used to acquire a controlling interest in the ELAXY Group, a leading German fintech provider for interactive consulting solutions for banks and financial service providers. With this shareholding, CREALOGIX established a cooperation with the seller, Fiducia & GAD, which made it possible to gain market access to German Volksbanks and Raiffeisenbanks.
Back to positive EBITDA
In the first half of 2015/2016, the CREALOGIX Group reported net sales of CHF 27.9 million. This corresponds to growth of 16.3 per cent compared to the previous year (CHF 24.0 million). In addition, the share of product sales increased to 59 per cent (prior year: 55 per cent). EBITDA amounted to CHF 0.12 million (prior year: CHF
-6.3 million). Operating loss (EBIT) amounted to CHF 1.5 million (prior year: CHF
-7.6 million). The improvements in the result are due to the measures to increase sales that were already announced in the annual financial statements, as well as a reduction in costs. We were also able to benefit from the increase in efficiency of our scalable product platform and the relocation of development services to near-shore/offshore locations.
The CREALOGIX Group is financially healthy. As of 31 December 2015, cash and cash equivalents totalled CHF 36.7 million. At the end of the reporting period, on 31 December 2015, CREALOGIX employed 336 employees, or over 420 (after shareholding in ELAXY).
Outlook
We have corrected our outlook upwards for the second half of 2015/2016: We expect significant sales growth the full year of over 20 per cent over the previous year, and thus annual sales of more than CHF 60 million.
We expect this growth to come from increasing net sales for CREALOGIX, sales consolidation from the ELAXY transaction, better exploitation of business with our existing customers, as well as the acquisition of new customers.
We consider both the starting position and the current market opportunities to be extremely good as we endeavour to continue to position CREALOGIX as an internationally leading Digital Banking provider.
About CREALOGIX
The CREALOGIX Group is an independent Swiss software house and the market leader for Digital Banking, ranked in the global FinTech Top 100 list. CREALOGIX develops and implements innovative fintech solutions for the digital bank of tomorrow. The focus is placed on changed customer needs in the areas of Mobility, Security, personal Advisory and information within a comprehensive customer service. Established in 1996, the Group has around 420 employees worldwide. The shares of CREALOGIX Holding AG (CLXN) are traded on the SIX Swiss Exchange.
The economic projections and predictions contained in this information relate to future facts. Such projections and predictions are subject to risks, uncertainties and changes which cannot be foreseen and which are beyond the control of CREALOGIX Holding AG. CREALOGIX Holding AG is therefore not in a position to make any representations as to the accuracy of economic projections and predictions or their impact on the financial situation of CREALOGIX Holding AG or the market in the securities of CREALOGIX Holding AG.
This document does not constitute an offer or invitation to subscribe for or purchase any securities. It is not being issued in countries where the public dissemination of the information contained herein may be restricted or prohibited by law. In particular, this document is not being issued in the United States of America and should not be distributed to U.S. persons or publications with a general circulation in the United States. Any non-compliance with such restrictions may result in an infringement of U.S. securities laws. Securities of CREALOGIX Holding AG (’COMPANY’) are not being publicly offered outside of Switzerland. In particular, the securities of the company have not been registered under the U.S. securities laws and may not be offered, sold or delivered within the United States or to U.S. persons absent the registration under or an applicable exemption from the registration requirements of the U.S. securities laws. This document does not constitute a prospectus according to article 652a or article 1156 of the Swiss code of obligations or article 27 et seq. of the SIX Swiss Exchange listing rules.
