preliminary results for the 1st quarter of 2015

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In preparing the quarterly financial statements for the first quarter of 2015, the Board of Management arrived at the estimate yesterday that an EBIT margin of -25 to -30% is to be expected for the Q1 reporting period. Given the leaner cost structure, the Board of Management of update software AG had last expected to see a more positive result already in the 1st quarter of 2015. Total revenue for the 1st quarter of 2015 is estimated at EUR 6.2 million, and thus around 21% below the total revenue of EUR 7.9 million in the 4th quarter of 2014.
The reason for this result is a strain on the cost ratio, triggered by unexpectedly high one-time expenses in connection with the unplanned departure of employees. As a result, more services had to be purchased from third parties, which also has a negative impact on earnings.

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