SQS Software Quality Systems AG AGM Statement and Trading Update (7364F)
May 29 2013 - 2:00AM
UK Regulatory
TIDMSQS
RNS Number : 7364F
SQS Software Quality Systems AG
29 May 2013
SQS Software Quality Systems AG
("SQS" or the "Company")
AGM Statement and Trading Update
SQS Software Quality Systems AG (AIM: SQS.L), the world's
largest supplier of independent software testing and quality
management services, is pleased to provide an update on trading
ahead of its annual general meeting to be held at the Company's
headquarters, Stollwerckstraße 11, 51149 Cologne, Germany at 10am
(CET) today.
SQS has witnessed healthy demand for its services during the
first quarter of 2013 across the key Central European geographies
of Germany, Switzerland, Austria and the Netherlands, especially
around core applications such as SAP. In addition, demand has been
strong in Ireland and we are now the dominant player in that
market.
Market demand and resulting sales in the UK and Nordics have
been relatively flat during the first quarter of 2013. However,
this has been more than compensated for by our performance in the
aforementioned regions. In addition, our US business is progressing
well and we are confident it will deliver a positive EBIT
contribution in the second half of 2013.
We have also signed a number of contract extensions in recent
months, which led to a good performance in our Managed Services
division during the first quarter of the year. Managed Services
represented approximately 40% of SQS' revenues in the first quarter
of the year, up from 34% for the year to 31 December 2012, such
that this is now the largest division within SQS.
In order to service the growth we are currently experiencing in
our Managed Services business we aim to significantly increase
headcount in our offshore test centres in the coming months.
Managed Services contracts are increasingly transferring to our
offshore test centres as they achieve volume and maturity. Further
to this we are expanding our consultancy headcount in the US and
central Europe to better enable us to capture the increasing
opportunities in those regions.
Diederik Vos, CEO of SQS, commented: "We have experienced
healthy demand for our services across a number of geographies
during the first quarter of 2013. Our Managed Services business has
witnessed especially strong growth and in order to manage this we
will continue to invest in increasing headcount in our offshore
test centres in both India and Egypt. It is great to see the good
demand for all our test centres. To support our expansion further,
we have also accelerated our search for acquisitions, with a focus
on strengthening our offshore resources and expertise.
The healthy demand we experienced in the first quarter has
continued into the second, giving us confidence that we are on
track to meet market forecasts for the current year."
Enquiries:
SQS Software Quality Systems Tel. +49 (2203) 91 54 0
AG
Diederik Vos, Chief Executive
Officer
Rene Gawron, Chief Financial
Officer
Westhouse Securities Tel. +44 (0)20 7601 6100
Antonio Bossi
Paul Gillam
Walbrook PR Limited Tel. +44 (0)20 7933 8780
Bob Huxford 07747 635908/ bob.huxford@walbrookpr.com
Helen Westaway 07841 917 679/ helen.westaway@walbrookpr.com
About SQS Software Quality Systems
SQS is the world's leading specialist in software quality. This
position stems from over 30 years of successful consultancy
operations. SQS consultants provide solutions for all aspects of
quality throughout the whole software product lifecycle driven by a
standardised methodology, high offshore automation processes and
deep domain knowledge in various industries. Headquartered in
Cologne, Germany, the company employs approximately 2,300 staff.
SQS has offices in Germany, the UK, Egypt, Finland, France, India,
Ireland, the Netherlands, Norway, Austria, Sweden, Switzerland,
South Africa and the US. In addition, SQS maintains a minority
stake in a company in Portugal. In 2012, SQS generated revenues of
210.1 million Euros.
SQS is the first German company to have a primary listing on the
AIM (Alternative Investment Market) in London. In addition, SQS
shares are also traded on the German Stock Exchange in Frankfurt am
Main.
With over 7,000 completed projects under its belt, SQS has a
strong client base, including half of the DAX 30, nearly a third of
the STOXX 50 and 20 per cent of the FTSE 100 companies. These
include, among others, Allianz, Beazley, BP, Centrica, Daimler,
Deutsche Post, Generali, JP Morgan, Meteor, Reuters and Volkswagen
as well as companies from our six key focus industries.
For more information, see sqs.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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