Software AG: Preliminary FY15 results above expectations, FY16 guidance exceeding hopes

BUY, Fair Value EUR33 (+28%)
News published on January Tuesday 19, 2016
Share on

This morning Software AG pre-announced FY15 results above expectations thanks to an outstanding Q4 in licence sales for the DBP (Digital Business Platform) division, while sales in the A&N (Adabas & Natural) division, and Services, were in line with our forecasts. The strong DBP licence sales and cost control boosted the non-IFRS operating margin to 29.7%, while we expected 29.1%. FY16 company guidance is positive, with DBP growth expected to accelerate as the transformation of the sales approach bears fruit, A&N to erode moderately in view of solid customer retention, and the non-IFRS operating margin to exceed all hopes at 30-31%. We expect the share price to react positively.


For more information please contact marketing@bryangarnier.com 

The Essentials

Everything you need to know about investment banking dedicated to growth
Stay Informed
Get our news
Join our Team
Bryan, Garnier & Co is always looking for talent in all our divisions, at all levels
Explore our opportunities