September 17, 2010
2 min read

GK SOFTWARE AG Exceeds Forecast According to Provisional Figures

Schöneck, 15 April 2010 – 2009 was easily the best business year for GK SOFTWARE AG in its history according to provisional figures published today.

  • Sales revenues rose by more than 50% to EUR 23.3 million
  • EBIT grew by 76% to EUR 4.9 million

Growth in sales of more than 50% meant that even the latest forecast, which was raised last fall, was significantly exceeded once again. The company achieved an EBIT of approx. EUR 4.9 million (EUR 2.8 million in the previous year). This corresponds to an EBIT margin of 20.1% in terms of total operating revenue (18.5% in the previous year).

New major projects and progress in current projects according to plan formed the basis for the outstanding results. The order placed by EDEKA as part of the LUNAR project was particularly significant and this is being completed in partnership with SAP. In organic terms, sales rose by approximately one third compared to the previous year.
The share of sales at Solquest GmbH, which was taken over in May 2009 by way of an asset deal and has now been fully integrated into the group, amounted to approximately 8% and it contributed to growth in sales in 2009 to the tune of about 12.5 percentage points.

Another element in growth in sales is based on revenue recognition from unfinished work in progress in line with the latest IFRS updates in accounting procedures. In line with individual project structures, EUR 1.4 million were not reported under unfinished work in progress, but as additional sales in 2009, in contrast to 2008. But this change has not affected the group results.

Press contact Dr. René Schiller Global Head of Marketing | VP
Press contact Americas Ketner Group Communications