Results of the financial year 2010/11

We improve turnover and profits in a turbulent market

In spite of the ongoing global financial crisis and a market distinguished by tough competition, we have recorded improvements in both turnover and operating profits for the financial year. Moreover, our overall financial situation is now healthier than ever.

The accounts reveal a 3 per cent increase in turnover to EUR 50.0 million (compared to EUR 48.4 million in 2009/10). Operating profits rose by 6 per cent to EUR 5.1 million (up from EUR 4.8 million in 2009/10), which corresponds to an EBIT margin of 10.2 per cent.

Strong liquidity

At 30 September 2011, equity totalled EUR 14.3 million (compared to EUR 12.6 million at 30 September 2010), which corresponds to an equity ratio of 42.4%. The international credit rating agency Dun & Bradstreet has accorded the company its highest rating – AAA – which it awards to only around 4% of all companies.

Expectations for the future

For the financial year 2011/2012, we are budgeting with growth in turnover accompanied by earnings on a par with those of 2010/11. Our budget is based on an order book amounting to approximately 50% of the turnover forecast for the year. Income from the sale of licences and the maintenance of Systematic’s own products now accounts for an increasing share of the company’s turnover, which means that our budget is sensitive to the timing of major product sales.

Read our annual report 2010/2011 (pdf)

Read our annual report 2010/2011 in Danish (pdf)