CREALOGIX Group - Well-funded, transformation progressing
CREALOGIX continues to pursue its goal of becoming a leading global SaaS digital banking software provider. It reported a 5% fall in H120 revenues to CHF48.6m (H119: CHF51.0m) (c 2% fall on a constant currency basis) and H120 EBITDA of CHF0.4m (H119: CHF3.3m). Recurring revenues now represent 47% of total sales (up from 42% in FY19) and the group reported positive free cash flow of CHF4.9m (H119: CHF2.1m loss). The SaaS transition will continue to drag on results in FY20/21 but with CHF34m of cash (CHF3.8m net cash), the group is well placed to weather any short-term impact from COVID-19 on its business (no impact yet, too early to quantify) and complete its SaaS transformation.Crealogix Holding AG is a Switzerland-based company that, together with its subsidiaries, provides software and hardware products for Electronic Banking (E-Banking), Electronic Payment (E-Payment) and Education in Switzerland and Europe. The Company's E-banking solutions comprise E-banking software and platforms, E-banking security, bank interface and communications, and mobile banking solutions, as well as banking servers and a front-office platform for financial advisory services, among others. Its E-payment solutions include payment software, financial software, manual and automatic document readers, and signing and archiving. The Company's educational solutions consist of E-learning software, E-learning contents and Web-based Training (WBT) production, campus management, and various training platforms. In April 2014, it created two subsidiaries CREALOGIX UK LTD and CREALOGIX PTE. LTD. In August 2014, the Company established an Austrian subsidiary in Vienna.
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