Technology -> Systems Mgmt
Released: 6th March 2013
SQS 2012 results in detail (for the year ending 31 December 2012):
Diederik Vos, Chief Executive Officer of SQS, comments:“During 2012, we made considerable progress regarding our stated strategic move away from the provision of short-term contracts for regular testing services while simultaneously delivering above-market growth in revenues and profits mainly through Managed Services. Together these developments have enabled us to increase our overall margins while providing greater revenue visibility. In addition, we completed the first phase of our investment programme in the test centre in India and greatly improved cash collection during the year, enabling us to substantially reduce our net debt position.
“Going forward we will continue to extend our US presence and invest in the build out of our test centre infrastructure in India in order to satisfy the growing demand generated from managed services. We continue to work toward these goals and, although we maintain caution regarding the wider economic outlook, indications for the first quarter of 2013 give us confidence that we will be able to report further progress going forward."
SQS’ operational highlights for 2012:
 Adjusted to add back IFRS effect of €1.3 million of amortisation of intangible assets of acquired companies in 2012
 Includes adjustments above and local GAAP tax rate which is €0.6 million higher than under IFRS because of €0.5 million deferred taxes, other tax assets under IFRS and minority interests
 Debtor days reduced to 58 (2011: 64) with cash conversion above 100%
About SQS Software Quality Systems
SQS is the world’s leading specialist in software quality. This position stems from 30 years of successful consultancy operation. SQS consultants provide solutions for all aspects of quality throughout the whole software product lifecycle driven by a standardised methodology and deep experience in various industries. Headquartered in Cologne, Germany, the company employs approximately 2,100 staff. Along with a strong presence in Germany and the UK, SQS has further subsidiaries in 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 2011, SQS generated revenues of 189.1 million Euros.
SQS is the first German company to have a primary listing on the AIM (Alternative Investment Market) in London. In addition, SQS are also traded on the open market of 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, Commerzbank, Daimler, Deutsche Post, Generali, JP Morgan, Meteor, Reuters and Volkswagen as well as companies from every other conceivable industry.
Published by: IT Analysis Communications Ltd.
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