Temenos Q1 2007 Results
25 April 2007
Temenos reports outstanding results:
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Excellent start to the year with strong sales performance and continuing business momentum. Revenue grew by 64% in the quarter and net profit by more than 8 times
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License revenues for the quarter exceeded our target and grew at 110% compared to Q1 2006
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Revenue, EBIT,EBITDA and EPS outlook further increased for 2007
For immediate release:
Geneva, Switzerland, Wednesday 25TH April 2007, TEMENOS Group AG (SWX: TEMN), a provider of integrated core banking software, today announced its first quarter 2007 results.
Highlights – First Quarter 2007
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Excellent start to the year with strong sales performance and business momentum. Revenues grew by 64% in the quarter and net profit by more than 8 times.
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Licence revenues for the quarter exceeded our target and grew at 110% (organic: 104%) compared to Q1 06. Acceleration of maintenance revenues growth for the quarter at 26% (organic: 22%) compared to Q1 06. Service margin was breakeven for the quarter compared to -16% for Q1 2006.
Business model on target – 12 month comparisons favourable and point to excellent top line and licence revenue growth, cost leverage and cash flow generation. In the 12 months to 31 March 07:
• Revenues up 41%
• Licence Revenues up 67%
• Service Revenues up 26%
• Operating costs up 36%
• EBITDA up 47%
• EBIT up 67%
• Diluted EPS up 97%
• Cash Flow from Operations up 99% at US$30.6m compared to US$15.4m in the 12 months to 31 March 2006
Read the full Temenos Q1 2007 results
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About Temenos
Founded in 1993, Temenos Group AG is a provider of integrated modular core banking systems to over 590 financial institutions in 110 countries worldwide. Temenos software provides banks with a single, real-time view of the client across the enterprise, enabling banks to maximize returns while streamlining costs. Whether providing 24/7 functionality to the wholesale, retail and private or universal banking sectors, partnering with central banks on core system replacement, or working with the World Bank on solutions for the emerging markets, Temenos knows banking. The company has a transparent approach to its operations and brings to bear its experience, expertise, commitment and professionalism on every project. Headquartered in Geneva, Switzerland, the company has 43 offices in 33 countries and is listed on the main segment of the SWX Swiss Exchange (TEMN). For more information please visit www.temenos.com
For more information, contact:
Max Chuard
Temenos Director
Corporate Finance & IR
Member of the Executive Board
Tel: +41 (0) 22 708 1157
Email: mchuard@temenos.com
Ben Robinson
Temenos Investor Relations Manager
Tel: +44 (0) 207 290 3012
Email: brobinson@temenos.com
Bianca Morgan
Temenos PR Manager
Tel: +44 (0) 207 423 3751
Email: bmorgan@temenos.com
Chris Patmore
Team 660
Metia for TEMENOS
Tel: +44 (0) 20 3100 3596
Email: chris.patmore@metia.com