SQS Software Quality Systems AG AGM Statement and Trading Update (2827O)
May 27 2015 - 2:00AM
UK Regulatory
TIDMSQS
RNS Number : 2827O
SQS Software Quality Systems AG
27 May 2015
27 May 2015
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
specialist supplier of software quality services, is pleased to
provide an update on trading ahead of its annual general meeting
("AGM") to be held at the Company's headquarters, Sophienstraße 5,
51149 Cologne, Germany at 10 a.m. (CET) today.
Current Trading
The Company is trading in line with market expectations through
the continued execution of its strategy to geographically diversify
its revenue base, to industrialise testing services, and
successfully integrate its recent acquisitions.
New Business
The Company has won a number of high profile potential Managed
Services ("MS") clients, including one of the world's leading US
hospitality chains, a leading US financial services group and a
retailer based in Europe. MS now accounts for 47% of our total
revenue (up from 45% as at 31 December 2014), providing
considerable visibility for the remainder of this year.
Global Expansion
The Company's expansion into the US market has continued post
the 2013 acquisition of Thinksoft, now renamed SQS India BFSI, with
the acquisition of Trissential LLC announced in April 2015. As
previously stated, the acquisition of Trissential will
approximately quadruple the Company's existing onsite delivery
capability in the US and is expected to materially add to US
segmental revenues during the second half of the current financial
year.
SQS' European presence has also been boosted by the acquisition
of Italian based Bit Media S.p.A, recently renamed SQS Italia
S.p.A., in February 2015, which has a three year order book and
provides strong cross selling opportunities for the Company,
particularly within the traditional government and tax authorities'
industry verticals. Integration of this acquisition has progressed
very well.
Market Outlook
The global testing services market continues to grow with
companies investing heavily in multi-channel sales and delivery
processes, offering testing services suppliers opportunities for
growth within the digitalisation and mobility segments. At the same
time many large corporations face severe margin pressure attracting
greater scrutiny of IT costs and increasing price pressure on
testing services.
Diederik Vos, Chief Executive Officer of SQS commented: "This
year has started well and we are pleased to have further
strengthened our position in the US, which is central to our growth
strategy. Market fundamentals remain good and, despite continuing
competition and price pressure, the start to this year has been
encouraging."
Enquiries:
SQS Software Quality Systems AG Tel. +49 (0) 2203 91
54 0
Diederik Vos, Chief Executive Officer
Rene Gawron, Chief Financial Officer
Canaccord Genuity - Nomad and Joint Broker Tel +44 (0) 20 7523
8000
Simon Bridges / Peter Stewart / Emma Gabriel
Westhouse Securities - Joint Broker Tel. +44 (0) 20 7601
6100
Robert Finlay / Antonio Bossi
Walbrook PR - Financial Media and Investor Tel. +44 (0)20 7933
Relations 8780
Paul Cornelius / Sam Allen / Nick Rome sqs@walbrookpr.com
About SQS
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, offshore automation processes and deep
domain knowledge in various industries. Headquartered in Cologne,
Germany, the company now employs approximately 4,200 staff. SQS has
offices in Germany, UK, US, Australia, Austria, Egypt, Finland,
France, India, Ireland, Italy, Malaysia, the Netherlands, Norway,
Singapore, South Africa, Sweden, Switzerland and UAE. In addition,
SQS maintains a minority stake in a company in Portugal. In 2014,
SQS has generated revenues of EUR268.5 million.
SQS is the first German company to have a primary listing on
AIM, a market operated by the London Stock Exchange. 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, Commerzbank, Daimler,
Deutsche Post, Generali, JP Morgan, Meteor, Reuters, UBS and
Volkswagen as well as other companies from the six key industries
on which SQS is focussed.
For more information, see www.sqs.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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