Ad hoc communication in accordance with SIX Swiss Exchange ad hoc publicity Art. 53
The continued conversion of the licence model to a SaaS (Software as a Service) / hosting model as well as greater levels of investment has changed the structure of total sales and reduced profitability in the first half of 2021/2022. Due to the successful implementation of the strategy to become a SaaS provider, sales and profit will stabilise at a higher level in the medium term. CREALOGIX is reporting the following provisional results:
- At CHF 45.4 million, sales were down 13.7% on the previous year (CHF 52.6 million).
- The proportion of recurring sales now amount to 56% of total sales (compared to 50% in the previous year).
- SaaS/hosting sales rose 8% compared to the previous year and now amount to 32% of total sales.
- New customer acquisition was hampered due to severe travel restrictions in all regions and thus curbed the growth targets.
- In addition to converting the licence model, the required transfer of service revenue to implementation partners and the delayed sales of payment devices all contributed to the drop in sales.
- EBITDA amounts to CHF -3.8 million (previous year: CHF 1.2 million).
- The sharp increase in product investment (30% of revenue compared to 18% in the previous year) had an adverse effect on profitability. However, it did contribute to successful 'Go-Lives' of new clients and solutions, such as development banks in Germany, for example.
- The drop in sales volumes had an adverse effect on EBITDA too, which nevertheless could not be completely offset by additional savings in costs.
CREALOGIX is confident that both higher sales volume and better profitability compared to the first half is achievable in the second half of 2021/2022. CREALOGIX will continue to consistently implement the SaaS provider strategy and, in the medium term, will continue to strive for profitability in the double-digit range, measured by the EBITDA margin.
The full half-year results for 2021/2022 will be published on 15 March 2022.
Press Release (PDF)
About CREALOGIX
The CREALOGIX Group is a Swiss top 100 fintech company and is one of the world's market leaders in digital banking. CREALOGIX develops and implements innovative fintech solutions for the financial institutions of tomorrow. Using CREALOGIX's digital solutions, banks, asset managers and other financial institutes are better able to respond to changing customer requirements in the area of digital transformation. The Group, founded in 1996, employs around 600 staff worldwide. CREALOGIX Group shares (CLXN) are traded on the SIX Swiss Exchange.
IR Contact
CREALOGIX Holding AG
Daniel Bader, Chief Financial Officer
E-mail: daniel.bader@crealogix.com
Telephone: +41 58 404 80 80
Media contact
CREALOGIX
Media relations office
E-mail: media@crealogix.com
Telephone: +41 44 295 90 41
This press release contains forward-looking statements, which offer no guarantee regarding future performance. These statements are based on information currently available to our management as well as on management's current assumptions and forecasts. There are numerous risks and uncertainties, many of which are beyond our control, that could cause our actual results, financial situation and performance to differ materially from the forward-looking information and statements made in this presentation. Each forward-looking statement speaks only as of the date of the particular statement and CREALOGIX does not assume any obligation to update or revise any forward-looking statements or other information.
This press release is not intended to be a solicitation or recommendation to sell, buy or hold securities and does not constitute an offer for the sale of, or the solicitation of an offer to purchase, securities in any jurisdiction, including the United States of America. Any such offer will only be made in the form of a prospectus published in compliance with applicable securities laws.
