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GK Software significantly increases turnover and profits during the first 9 months, according to provisional figures

·5-min read

DGAP-News: GK Software SE / Key word(s): 9 Month figures
05.11.2020 / 12:30
The issuer is solely responsible for the content of this announcement.

Provisional figures suggest that GK Software SE has managed to continue its growth course for the third quarter in succession, despite the global pandemic. Turnover rose by about seven percent to EUR 85.25 million (9M 2019 = EUR 79.75 million) compared to the same period in the previous year. EBITDA reached a figure of EUR 11.83 million (9M 2019 = EUR 2.61 million) and therefore increased much more significantly than turnover. The EBITDA margin (related to turnover) amounted to 13.9 percent after 9 months. The EBIT figure of EUR 5.58 million also reflected a huge improvement over the previous year (9M 2019 = EUR (4.23) million). This meant that there was a surplus for the period of EUR 2.97 million.

The basis for these results was, firstly, the programme to increase efficiency internally, which was successfully introduced, gaining six new customers overall, including two in the USA, and two existing customers opting for our core products. Three new retailers were gained in the third quarter alone. Two of these customers are based in European countries abroad and one comes from Egypt. All the new customers, including one major European food retailer, will overall account for the introduction of significantly more than 10,000 new installations during the next few years.

For the first time in 2020, GK Software was also able to gain two retailers, which opted for the company's core solutions in the form of software-as-a-service. One of these customers also selected cloud4retail after the end of the third quarter.

Developments at the subsidiary, Deutsche Fiskal, were also extremely positive; this is based on the fact that it is currently able to offer the only certified cloud solution and it has therefore been able to achieve an excellent position in the marketplace. The Management Board therefore assumes that it will achieve the upper limits of its originally envisaged market share or even exceed them. The solution was transferred to standard operations on 2 November and the company launched the start of productive operations for customers. However, a significant contribution to turnover from the fiscalisation business is not expected until 2021.

The Management Board continues to see positive signs in the 4th quarter, both in ongoing business and in the area of new sales, even if it is very difficult to assess the effects of the renewed lockdown on the signing of contracts in many countries this year. The publication of the complete report for the quarter is planned to take place on 26 November 2020.

About GK Software SE
GK Software SE is a leading developer and provider of standard software for the retail sector, and currently counts 22 percent of the world's 50 largest retailers among its customer base. According to a study published by RBR 2019, the Company is one of the leading international providers of POS software and is the second-fastest growing business in the industry in terms of the number of installations worldwide. The company offers an extensive range of solutions for stores and enterprise headquarters as well as for the implementation of contemporary omni-channel retail concepts. Thanks to its open and platform-independent software solutions in the GK/Retail Suite, the company has established itself as one of the market's leading providers of technology and innovations. Its solutions enable retail chains with numerous stores to optimize their business processes and to benefit from significant potential for saving costs and implementing customer loyalty programs in order to improve their competitiveness. In addition to its own software solutions, GK Software SE also offers customers a comprehensive range of implementation and maintenance services. Having been acquired in 2013, AWEK GmbH and in 2015, the retail segment of DBS Data Business Systems Inc. In 2017, the company acquired a majority shareholding in prudsys AG, a company focused on artificial intelligence. In 2018, the valuephone GmbH was acquired, which develops leading solutions for mobile consumers.

The company employs 1,123 members of staff (figures for 30 June 2020) across its headquarters in Schöneck (Germany) and other business locations in Germany, Czech Republic, Switzerland, South Africa, Russia, Ukraine and the USA. GK Software SE's customers include many well-known retailers from both Germany and beyond, including Edeka, Lidl, Aldi, Coop (Schweiz), Hornbach, Migros, Netto Marken-Discount and Walmart. The software is currently being used at 325,000 installations across approximately 59,800 stores in 63 countries. The company has grown rapidly in recent years and its sales revenues totaled EUR 115.4 million in 2019. Since launching the company in 1990, the two founders Rainer Gläß (CEO) and Stephan Kronmüller (deputy board member), together with the experienced management team, have shaped GK Software into a profitable company exhibiting strong growth.

Further information about the company: https://www.gk-software.com

Contact
Investor Relations
GK Software SE
Dr. René Schiller
Phone: +49 (0)37464-84-264
Fax: +49 (0)37464-84-15
E-mail: rschiller@gk-software.com


05.11.2020 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de

Language:

English

Company:

GK Software SE

Waldstraße 7

08261 Schöneck

Germany

Phone:

+49 (0)3 74 64 84 - 0

Fax:

+49 (0)3 74 64 84 - 15

E-mail:

info@gk-software.com

Internet:

www.gk-software.com

ISIN:

DE0007571424

WKN:

757142

Listed:

Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Munich, Stuttgart, Tradegate Exchange

EQS News ID:

1145792


 

End of News

DGAP News Service

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