logo
Plus   Neg
Share
Email

Software FY19 Profit Down

Software AG Monday reported full-year 2019 net income of 188.1 million euros or 2.54 euro per share, down from 195.0 million euros or 2.64 euro per share.

Sales for the year rose 3% to 890.6 million euros from 865.7 million euros last year.

EBITDA dropped to 260.3 million euros from 272.9 million euros last year.

"I am pleased to report that against a backdrop of significant transformation in 2019 Software AG delivered overall revenue growth and profit in line with guidance. This is a testament to our strategy, the strength of our products, and our increasingly strong position in the market. We have addressed and overcome challenges, particularly in our North America business, while renewed focus and sharper execution has allowed us to manage costs while investing behind key growth opportunities like our partner ecosystem and simplification of our product offering," CEO Sanjay Brahmawar said.

For the fourth quarter, net income dropped to 61.6 million euros or 0.83 euro per share from 71.5 million euros or 0.97 euro per share.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Elon Musk, the founder and CEO of Space Exploration Technologies, or SpaceX, said the aerospace company is planning to list its space internet venture, Starlink, after many years when revenue growth is smooth and predictable. In a tweet, Musk said, "We will probably IPO Starlink, but only several years in the future when revenue growth is smooth & predictable. Public market does *not* like erratic It's again that day of the year when coffee lovers celebrate their passion for the caffeinated beverage. It is National Coffee Day today in the U.S. when major food and beverage outlets nationwide promote the coffee culture with deals for coffee fans. In the U.S., major coffee outlets such as Starbucks, Dunkin' Donuts, Wawa, Krispy Kreme, Wendy's and Panera Bread give away free cups of coffee. The state of Ohio ordered General Motors to repay $28 million in tax credits after closing the Lordstown plant, which was in agreement to be operated until 2040. The Ohio Tax Credit Authority said the closure violated the terms of two economic development agreements signed by the company. In separate development, GM announced it is investing $71 million in two other Ohio manufacturing facilities.
RELATED NEWS
Follow RTT