adesso closes 2011 financial year with new record sales revenues and operating results
Dortmund, 30 March 2012 – IT service provider adesso AG has today presented its audited financial figures for 2011, achieving record sales revenues of EUR 106.0 million (previous year: EUR 85.7 million) and a consolidated result of EUR 3.9 million (previous year: EUR 2.5 million). The number of employees increased by 16 percent to 847. adesso is anticipating further growth in 2012.
With a 24 % rise in sales revenues, adesso has made maximum use of the auspicious market environment that presented itself to IT companies in 2011 and increased its market share. The company enjoyed particular success in expanding its product business, with new highs in earnings from its license and maintenance segments. Simultaneously, the earning power of the company increased: the consolidated result amounted to 3.9 EUR million. adesso also boosted its profitability thanks to increased license revenues, its IT consultants and developers being busier, a rise in average daily rates and modifications to its cost structure. Investments amounting to over EUR 1 million in the development of a new product family for the energy and water industries did not prevent the operating margin rising to 8.1 % from 6.5 % in the previous year. The company’s operating result stands at EUR 8.6 million (previous year: EUR 5.6 million). Executive and Supervisory Boards propose to the Annual General Meeting that the dividend to be paid be increased by 20 % to EUR 0.18 per share.
adesso is anticipating further growth in 2012, despite expectations that demand will lose momentum. The company’s favorable position in attractive growth markets gives rise to a prediction of organic growth in sales revenues to between EUR 110 million and EUR 112 million. Conversely, the business environment appears not to be positive enough to support a further increase in license revenues in continuation of the record-breaking performance seen in 2011. adesso is upping its investments in the in-house development of software products in order to lay the foundations for additional growth, higher future margins and to further strengthen its leading position in the sectors targeted by its products, accepting a potential temporary negative impact on its margins and results in pursuit of this objective. adesso is expected to continue growing organically at a rate at least double that seen in the market overall. The company’s medium-term planning envisages its entering additional markets, such as that in the US, and making further acquisitions, with the target of achieving sales revenues of EUR 150 million in the year 2014.
In the competitive environment for professionals adesso was able to provide 100 additional job positions for new, highly skilled employees. The number of employees thus rose by 16 percent to 847. Recently, adesso has been acknowledged to be one of Germany’s 100 best employers; adesso Schweiz AG was also graded “Switzerland’s Top Employer” in 2012.
You can access the annual report and a year-on-year key figures overview in the Investor Relations area of the company website at www.adesso-group.de.
adesso is one of the leading IT service providers in the German-speaking area and focuses its consulting and software development activities on a company’s core business processes. adesso’s strategy is based on three pillars: the deep industry-specific know-how of its staff, the comprehensive expertise in technology and the application of reliable methods in software implementation projects. Following this approach, adesso develops superior IT solutions, which enhance the competitive position of a company.
adesso was founded in Dortmund in 1997 and employs more than 800 members of staff in ten offices. The share is listed on the regulated market. Some of the most important customers are Allianz, Hannover Rück, Union Investment, Westdeutsche Lotterie, Zurich Versicherung, DEVK and DAK. For additional information, please visit www.adesso.de.
Stockholmer Allee 24
Fax: +49 231 930-9331