Dortmund, 28.03.2014

adesso sales and earnings up considerably in 2013 / Forecast for 2014 anticipates further growth

DGAP-News: adesso AG / Key word(s): Final Results/Forecast

28.03.2014 / 13:50

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adesso sales and earnings up considerably in 2013 / Forecast for 2014
anticipates further growth

adesso AG has confirmed its provisional figures for 2013 released on 5
March 2014 with the consolidated financial statements published today in
its annual report. The company succeeded in boosting its sales revenues to
EUR 136.2 million and, in spite of further advancements in its investment
policy, generate EBITDA of EUR 7.8 million. This confirms the full-year
earnings forecast, with sales coming in higher than anticipated. The
Executive Board and Supervisory Board are to propose the distribution of a
dividend of EUR 0.21 per share, up from EUR 0.18 in 2012.

adesso succeeded in making considerable gains both in sales and in earnings
in financial year 2013. It generated sales revenues of EUR 136.2 million
(previous year: EUR 120.5 million) in the reporting year, equating to a -
largely organic - increase of 13 %. The operating result (EBITDA) improved
by 16 % to EUR 7.8 million (previous year: EUR 6.7 million). Consolidated
earnings also rose substantially to EUR 3.0 million, as did earnings per
share to EUR 0.48 (previous year: EUR 0.12).

The satisfactory results are founded above all on profitable growth in
Germany in the areas of consulting and tailor-made software. adesso was
able to reinforce its role as a strategic IT partner to its leading
customers and record substantial increases in sales revenues from nine of
its top 10 customers. The number of employees increased by 137, or 13 %, to
1,221.

Mobile Solutions recorded the highest rate of growth in 2013. In its
Enterprise Mobility portfolio, adesso is able to combine its strengths in
specialist expertise, core business processes and state-of-the-art software
development and position itself successfully in the market. adesso is
working on the mobile strategies of the future together with many of its
customers.

Even though there were increases in the operating result, consolidated
earnings and net liquidity, expenses were also incurred through
investments. With low sales revenues in North America, adesso invested some
EUR 1 million in the expansion of its US subsidiary for the sale
of the high-end content management system FirstSpirit in 2013 and made
valuable progress in terms of gaining partners, increasing the company
profile and boosting the sales pipeline. In Turkey, adesso founded a new
subsidiary and began recruiting employees and building up customer
relationships.

In 2013, a customer-related project stoppage in Austria resulted in
expenses in the operating result of almost EUR 1 million and a further EUR
0.8 million in write-downs on goodwill.

On the basis of the positive business performance overall, the Executive
Board and Supervisory Board propose a 17 % increase in the dividend to EUR
0.21 per share (previous year: EUR 0.18). This decision was made possible
by the solid framework provided by the positive liquid asset base of EUR
21.8 million (previous year: EUR 21.4 million) and the healthy balance
sheet structure. In 2013, adesso paid back a further EUR 2.4 million in
loans, resulting in a EUR 2.7 million increase in net liquidity to EUR 16.4
million. Equity came to EUR 36.1 million (previous year: EUR 34.5 million)
and the equity ratio rose year on year from 45 % to 48 %.

According to adesso's forecasts, growth in 2014 is set to outperform market
growth by a significant rate once again. Sales are expected to increase in
2014 by 6 % to 9 % to between EUR 144 million and EUR 148 million. The
operating result (EBITDA) is also set to rise by 10 % to 16 % to between
EUR 8.5 million and EUR 9.0 million. Activities centred on a further
company acquisition are due to be intensified in 2014.

In the USA, the first significant sales are expected to be generated with
the FirstSpirit product. One major contract has already been successfully
concluded in March 2014. Noticeable improvements in earnings are also
anticipated in Austria and Switzerland. By contrast, investments in Turkey
are expected to rise, with adesso pressing ahead with the expansion of its
business activities centred on in-house solutions and products.

The annual report and a table comparing key performance figures over
previous years is available at www.adesso-group.de/en/ in the Investor
Relations section.

The Executive Board

Contact:
Martin Möllmann
Manager Investor Relations
Tel.: +49 231 930-9330
E-Mail: ir@adesso.de


End of Corporate News

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Language:    English                                             
Company:     adesso AG                                           
             Stockholmer Allee 24                                
             44269 Dortmund                                      
             Germany                                             
Phone:       +49 (0) 231 930-9330                                
Fax:         +49 (0) 231 930-9331                                
E-mail:      ir@adesso.de                                        
Internet:    www.adesso-group.de                                 
ISIN:        DE000A0Z23Q5                                        
WKN:         A0Z23Q                                              
Listed:      Regulierter Markt in Berlin, Düsseldorf, Frankfurt  
             (General Standard), Hamburg, Stuttgart              
 
 
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