DGAP-Adhoc: EASY SOFTWARE AG: Change in forecast for the financial year 2018 and guidance for the financial year 2019

Change in forecast for the financial year 2018 and guidance for the financial year 2019
 
Mülheim an der Ruhr, September 21, 2018. By the end of the third quarter of 2018, it became apparent that the one-off cost effects from the first half of 2018 and the under-utilisation of capacity in the consulting segment could not be made up for. Thus, the management board of EASY SOFTWARE AG (ISIN: DE0005634000, WKN 563400) resolved today, with the approval of the supervisory board, to implement restructuring measures to optimize the cost structure in EASY Group, which will initially lead to further expenses having negative impact in the form of extraordinary effects in the amount of approximately EUR 2.1 m. From today's perspective, these extraordinary effects will effect both the third and fourth quarter and require the following forecast change for 2018.
 
The Group EBITDA forecast has been revised to a level of EUR 0.4 m to EUR 1.0 m. The sales forecast for the financial year is confirmed with growth up to EUR 45 m to EUR 47 m. This corresponds to sales growth of 5% to 10% and to an EBITDA margin in the single-digit percentage range.
 
Based on the productivity increases resulting from the planned restructuring measures and taking into account the continued high level of orders and the continued positive development of the cloud business, the management board currently expects a further increase in revenue in the financial year 2019 to EUR 48 m to EUR 50 m and a significant increase in Group EBITDA up to EUR 4.0 m to EUR 5.0 m, provided that the basic market parameters remain unchanged.
 
EASY SOFTWARE AG
The Management Board
Contact:
Thorsten Eska, CFO