update software AG: Supervisory board confirms 2007 audited financial statements

Ad-hoc release

Vienna, Frankfurt, 29 April 2008 +++ update software AG, a leading CRM solutions provider listed on the Frankfurt stock exchange, has released its 2007 audited financial statements, which were confirmed by the Company’s supervisory board in its meeting today. As a result of the increase in net profit for the year by about 45%, the Group attained earnings per share of EUR 0.42. A first-time dividend of EUR 0.10 per share has been determined.

2007 record result confirmed

The audited net profit for 2007 totalled EUR 4.716 million, which corresponds to earnings per share of EUR 0.42 (diluted). Compared to 2006, net profit increased by 45.2% (2006: EUR 3.248 million) and earnings per share by 35.5% (2006: EUR 0.31 per share). In the 2007 financial year just ended, deferred taxes in the amount of EUR 0.866 million were capitalised as the company continues to assume, given the positive development of update’s business, that the accrued loss carry-forwards will be utilised. As a result, audited shareholders’ equity increased to EUR 25.355 million as of 31 December 2007; the preliminary equity balance reported in January was EUR 24.608 million (up 58.1% from the balance on 31 December 2006).

The 39.3% increase in sales revenue to EUR 32.538 million reported on 25 January 2008 as well as EBIT in the amount of EUR 3.705 million were also confirmed.

Dividend to be proposed at annual shareholders’ meeting
Given the sustainable, distributable 2007 profit, the board of management will propose a first-time dividend of EUR 0.10 per share at the 11th ordinary shareholders’ meeting to be held on 11 June 2008. The shareholders’ meeting will also vote on a share buy-back programme for the purpose of servicing share options.


Commentary text:
„Given the continuously good annual results in the last five years, we are pleased to offer the shareholders of update software AG a sustainable dividend policy for the future, without deviating from our aggressive growth strategy and contemplated acquisitions,” said the board of management, commenting the final 2007 results.


IR Contact:
Mr. Andreas Mössner
update software AG
Operngasse 17-21
A-1040 Vienna
Phone: +43 1 878 55 512
Fax: +43 1 878 55 9512
Andreas.Moessner@update.com
www.update.com