SimCorp A/S – revision of full year guidance for 2014
As indicated in the 9M interim financial report, SimCorp is currently engaged in a number of late stage contract negotiations with new and existing clients.
SimCorp does not expect to be able to complete the negotiations and obtain signatures on some of these contracts before the end of 2014. As a consequence, SimCorp revises its expectation for revenue growth in reported currency to be around 4% (previously around 7%) and its expectation for EBIT margin in reported currency to be around 23% (previously around 24%).
In local currencies SimCorp now expects revenue growth to be around 4% (previously around 7%) and EBIT margin measured in local currencies to be around 23% (previously around 24%).
SimCorp will, as previously announced, issue the annual report for 2014 on February 16th 2015.
Enquiries regarding this announcement should be addressed to:
Klaus Holse, Chief Executive Officer, SimCorp A/S (+45 3544 8802, +45 2326 0000)
Thomas Johansen, Chief Financial Officer, SimCorp A/S (+45 3544 8800, +45 2811 3828)
Company Announcement no. 54/2014