Aptitude Software Group Plc · LSE:APTD
Aptitude Software — Microgen — FY2012 Earnings Presentation
20 slides from Aptitude Software's earnings presentation, Feb 25, 2013
Slide 1: Audited Preliminary Results for the year ended 31 December 2012
microgen plc Audited Preliminary Results for the year ended 31 December 2012 David Sherriff Chief Executive Officer Philip Wood Group Finance Director To be read in conjunction with the audited preliminary 25 February 2013 results announcement released on 25 February 2013
Slide 2: Group Structure
Group Structure Microgen plc Microgen Aptitude Financial Systems Solutions Division Division • Microgen Aptitude Software Core Financial Systems including:- • Microgen Accounting Hub • Wealth Management • Royalty and Rights Management • Banking • Financial Data Management Non-Core activities • Modul
Slide 3: Preliminary Results 2012
Preliminary Results 2012 • Resilient performance in difficult market conditions • Group revenue of £32.3m (2011 : £38.8m) • 23% growth in MASD’s annual software licences and other recurring revenue • Pressure on consultancy revenue and decline in non-core activities in FSD • Operating profit of £9.0
Slide 4: Group Income Statement
Group Income Statement FY 2012 FY 2011 £000 £000 Revenue Microgen Aptitude Solutions Division 16,316 21,799 Financial Systems Division 16,002 16,977 Total revenue 32,318 38,776 Operating costs (excl. Group overheads) (21,094) (26,690) Operating profit before Group overheads 11,224 12,086 Operating p
Slide 5: Group Revenue and Operating Margin
Group Revenue and Operating Margin • Resilient performance in difficult market environment • Operating margin increased to 28% (2011 : 24%) due to growth in annual software licences & other recurring revenue and Group’s conservative operational approach • All internal research and development costs
Slide 6: Microgen Aptitude Solutions Division
Microgen Aptitude Solutions Division • 23% growth in MASD annual software licences/recurring revenue • Consultancy revenue impacted by client budgetary pressures as anticipated • The increased proportion of annual software licences/recurring revenue of MASD (44% in 2012) is consistent with strategy
Slide 7: MASD Business Modules
MASD Business Modules • Market conditions are causing organisations to prioritise investment in IT solutions that address immediate business needs. Strategic “large scale” transformation projects are increasingly vulnerable to budget cuts in favour of short term requirements such as regulatory compl
Slide 8: MASD Business Modules
MASD Business Modules Example MAH/ Microgen Aptitude Based Modules Financial and Example Operational Regulatory Feeds Royalty & IPR Multi GaaP/ Profitability BASELIII/ Reporting IFRS Liquidity Reference GL Feed Data Accounting Usage & Consumption & Regulatory Contract Systems Management Extract Extr
Slide 9: Financial Systems Division
Financial Systems Division • Revenue of £16.0m (2011 : £17.0m). Recurring revenue of 78% of divisional revenue • Core revenue stable. Decline in non-core revenue as anticipated • Wealth Management sector experiencing some recovery with growing demand for 5Series • Operating margins of 52% (2011 : 46
Slide 10: Delivering Shareholder Value
Delivering Shareholder Value • Value Enhancement and Realisation Bonus Scheme (“VERBS”) introduced in October 2008 • Market capitalisation of Microgen prior to VERBS was £37.0m • Upon payment of the proposed final and special dividends, the Group will have returned 100% of its market capitalisation
Slide 11: Summary
Summary • Resilient performance in difficult market conditions • Growth in the proportion of Microgen Aptitude Solutions Division software and recurring revenue is consistent with the value enhancement strategy for the division. Consultancy revenue impacted by budgetary pressures as anticipated • Mo
Slide 12: Appendix
Appendix
Slide 13: Group Balance Sheet
Group Balance Sheet As at As at 31 Dec 2012 31 Dec 2011 ASSETS £’000 £’000 Non-current assets Goodwill 41,774 41,774 Intangible assets - 118 Property, plant and equipment 5,391 5,521 Deferred income tax asset 1,041 1,324 48,206 48,737 Current assets Trade and other receivables 3,163 5,611 Financial
Slide 14: Group Cash Flow
Group Cash Flow Year Year ended ended 31 Dec 2012 31 Dec 2011 £’000 £’000 Cash flows from operating activities Cash generated from operations 10,348 12,542 Interest paid - (156) Tax paid (2,023) (1,758) Net cash generated from operating activities 8,325 10,628 Cash flows from investing activities Pu
Slide 15: Microgen Aptitude: A Comprehensive Application Platform
Microgen Aptitude A Comprehensive Application Platform Microgen Aptitude is a complete In-Memory processing Enterprise Application Platform built on a single code set. Accelerates the design, implementation and control of mission-critical business applications. BUSINESS PROCESS BUSINESS ACTIVITY MAN
Slide 16: Microgen Aptitude Enterprise Application Platform
Microgen Aptitude Enterprise Application Platform Very high processing performance with all graphical interface • Rules engine, ‘in-database’ analytics, in memory and in database processing Single tool with integrated modules for rapid project development • Leverage existing IT assets, build composi
Slide 17: DBClarity with SQL Visualisation
DBClarity with SQL Visualisation • Microgen Aptitude version 3.0 introduced DBClarity to enable development teams to graphically develop and embed in-database logic into business processes and applications • Version 4.1 provides the ability to reverse engineer SQL rules and procedures, converting le
Slide 18: Microgen Aptitude V4
Microgen Aptitude V4 From Graphical to 3D The 3D Project Explorer provides an holistic view of an entire project, including component relationships, dependencies and data flow to greatly improve solution design, development and change management processes thus strengthening communication between the
Slide 19: Processing Performance Leadership
Microgen Aptitude Processing Performance Leadership • Microgen recently ran Microgen Aptitude and Microgen Accounting Hub performance tests at an independent testing centre achieving 7 Billion transactions per hour using in- Transactions per hour memory processing • Further tests, achieved throughpu
Slide 20: microgen
microgen www.microgen.com