Q3 - atoss.com€¦ · Q1-Q3/10 Q1-Q3/11 Q1-Q3/12 13.2 14.9 13.9 ECONOMIC BACKGROUNd federal government growth forecast for 2012: Gross domestic product +0.8 percent (2013: +1.0 percent)

Q3.12Quarterly Report

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H a l f - Y e a r l Y r e p o r T | Q u a r T e r l Y r e p o r T Q 2 . 2 0 1 2

A T O S S c u s t o m e r L E I T N E R

ATOSS Quarterly Report 03.2012

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Q u a r T e r l Y r e p o r T Q 3 . 2 0 1 2

Letter to Shareholders

Andreas F.J. Obereder and Christof Leiber, Board of Management, ATOSS Software AG

5

l e T T e r T o S H a r e H o l d e r S

aToSS Software aG continues its record performance! The development in business, in the third quarter in particular, was very gratifying. demand for aToSS products and solutions has devel-oped briskly relative to the second quarter, while interest in our workforce management topics continues unabated.

aToSS has now been in business for 25 years! We are proud to be so well positioned, not just in respect of our performance figures and the varied capabilities of our products and services, but also in terms of the competence and commitment of our employees and our relationships with our customers. The benefits are also enjoyed by our shareholders, very many of whom are long-term investors. They appreciate the stability and quality that mark us out, all the more so in the turbu-lence of recent years.

We at aToSS are concerned with consistently reinforcing our success through the continuous develop-ment of our solutions, as well as through innovations aimed at delivering decisive customer benefits.

Some outstanding examples of such innovations include the aToSS Connector, which now affords Sap® users direct access to the aToSS personnel resource planning solution, as well as our latest break-throughs in the fields of mobility and business intelligence (BI). With aToSS Mobile Workforce Manage-ment, a module of the aToSS Staff efficiency Suite and the aToSS Startup edition, our customers‘ managers and employees can access current, relevant data whenever and wherever they are by smartphone or tablet and initiate and process the appropriate workflows (e.g. absences, scheduling dialogs etc.). Mobility is without doubt a growth area. according to the industry association BITKoM, it is one of the strongest driving forces in the technology market.

Meanwhile, demand for our core solutions such as the aToSS retail Solution continues unabated. In view of the results of current projects, such as for example a substantial reduction in personnel cost ratios, significant sales increases and a markedly higher conversion rate, this is not surprising. during the reporting period aToSS has continued to acquire additional prominent new customers in the retail sector: denn’s organic food stores, the number 1 in Germany, rudolf Wöhrl aG and Starbucks Coffee are among those to have opted for the specially tailored aToSS retail Solution. The popularity of this solution is a clear sign of future growth potential, as is the acquisition of new customers in such widely varying fields as the medical, manufacturing, logistics and hospitality sectors.

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ATOSS remains focused on innovation and the development of existing strengths

Dear Shareholders, Customers, Business Partners and Employees,

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as you see, the outlook remains positive as the upward trend in sales and earnings continues without change. We remain on course for growth, and we consider the future prospects for workforce management to be outstanding. against this background and in view of the influx of orders for software licenses in the third quarter in particular, we expect to see moderate full-year growth, with a margin on sales measured against operating profits (eBIT) securely above 20 percent.

Yours sincerely

andreas f.J. obereder Christof leiberChief executive officer Member of the Board of Management

The outlook for 2012 remains positive

A T O S S c u s t o m e r K a s s e n ä r z t l i c h e V e r e i n i g u n g N o r d r h e i n

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Facts Overview

EBIT (EUR mill . ) EPS (EUR)

TOTAL SALES (EUR mill . ) SOFTWARE SALES (EUR mill . )

Q1-Q3/10 Q1-Q3/11 Q1-Q3/12

5.3

5.9

5.5

Q1-Q3/10 Q1-Q3/11 Q1-Q3/12

0.91

1.151.13

Q1-Q3/10 Q1-Q3/11 Q1-Q3/12

21.4

24.5

23.3

Q1-Q3/10 Q1-Q3/11 Q1-Q3/12

13.2

14.9

13.9

ECONOMIC BACKGROUNd federal government growth forecast for 2012: Gross domestic product +0.8 percent (2013: +1.0 percent)ICT sector: anticipated growth in Germany of +2.8 percent in 2012 stands out as a positive exception BITKoM: Mobility is one of the strongest driving forces in the technology market

ATOSS SOFTWARE AGNine-month results for 2012 again set new recordsfull-year outlook: Moderate sales growth with an eBIT margin securely above 20 percent Growth in all target fields and sectors

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f a C T S o v e r v I e W

CONSOLIdATEd OVERVIEW AS PER IFRS: 9-MONTH COMPARISON IN TEUR

01.01.2012- 30.09.2012

Proportion of total sales

01.01.2011- 30.09.2011

Proportion of total sales

Change 2012 / 2011

Total Sales 24,515 100% 23,346 100% 5%

Software 14,851 61% 13,930 60% 7%

Licenses 5,056 21% 4,914 21% 3%

Maintenance 9,795 40% 9,016 39% 9%

Consulting 6,534 27% 6,236 27% 5%

Hardware 2,063 8% 2,199 9% -6%

Other 1,067 4% 981 4% 9%

EBITdA 6,340 26% 5,900 25% 7%

EBIT 5,918 24% 5,542 24% 7%

EBT 6,756 28% 6,599 28% 2%

Net income 4,563 19% 4,476 19% 2%

Cash Flow 5,300 22% 6,959 30% -24%

Liquidity (1/2) 28,656 26,349 9%

EPS (in EUR) 1.15 1.13 2%

Employees (3) 270 259 4%

CONSOLIdATEd OVERVIEW AS PER IFRS: QUARTERLY COMPARISON IN TEUR

Q3/12 Q2/12 Q1/12 Q4/11 Q3/11

Total Sales 8,242 8,437 7,836 8,229 7,584

Software 4,977 5,017 4,857 4,891 4,651

Licenses 1,655 1,745 1,656 1,772 1,586

Maintenance 3,322 3,272 3,201 3,119 3,065

Consulting 2,048 2,248 2,238 2,145 1,931

Hardware 851 665 547 607 764

Other 366 507 194 586 239

EBITdA 2,028 2,207 2,105 1,894 1,792

EBIT 1,881 2,070 1,967 1,766 1,665

EBIT margin (in %) 23% 25% 25% 21% 22%

EBT 2,283 2,147 2,326 1,812 2,617

Net income 1,551 1,465 1,547 1,199 1,772

Cash Flow (4) 3,143 -1,001 3,158 -1,641 3,117

Liquidity (1/2) 28,657 24,615 28,496 24,851 26,349

EPS (in EUR) 0.39 0.37 0.39 0.30 0.45

Employees (3) 270 266 265 269 259

(1) Cashandcashequivalents,currentandnon-currentfinancialassets(e.g.gold,equities)(2) DividendofEUR0.71pershareon23.04.2012(TEUR2,823),previousyearEUR0.60pershare(TEUR2,386)(3) Attheendofthequarter/half(4) Cash flow adaption per share in comparison to the values reported last year for interest income and expenditure,

since from december 31, 2011 this is reported within cash flow from investment activities.

ECONOMIC BACKGROUNd federal government growth forecast for 2012: Gross domestic product +0.8 percent (2013: +1.0 percent)ICT sector: anticipated growth in Germany of +2.8 percent in 2012 stands out as a positive exception BITKoM: Mobility is one of the strongest driving forces in the technology market

ATOSS SOFTWARE AGNine-month results for 2012 again set new recordsfull-year outlook: Moderate sales growth with an eBIT margin securely above 20 percent Growth in all target fields and sectors

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250

200

150

100

50

04. Jan 07 04. Jan 08 04. Jan 09 04. Jan 10 04. Jan 11 04. Jan 12


Investor Relations

CONSOLIdATEd OVERVIEW AS PER IFRS: QUARTERLY COMPARISON IN EUR

Q3/12 Q2/12 Q1/12 Q4/11 Q3/11

High 22.04 22.80 22.09 17.40 18.34

Low 19.11 18.76 16.55 16.20 15.50

Share price at end of quarter 21.00 19.84 21.50 16.56 17.05

Treasury stock 0.00 0.00 0.00 49,099 49,099

Dividend paid per share 0.00 0.71 0.00 0.00 0.00

Cash flow per share (1) 0.79 -0.25 0.79 -0.41 0.78

Liquidity per share (2) 7.21 6.19 7.17 6.25 6.63

EPS 0.39 0.37 0.39 0.30 0.45

EPS (diluted) 0.39 0.37 0.39 0.30 0.45

STOCKS 2007/2012

ATOSS Software AG DAXsubsector Software Performance Index

(1) Cash flow adaption per share in comparison to the values reported last year for interest income and expenditure, since from december 31, 2011 this is reported within cash flow from investment activities.

(2) liquid assets per share comprise cash and cash equivalents as well as current and non-current financial assets (e.g. gold, equities)

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I N v e S T o r r e l a T I o N S

Focus on a long-term commitment to ATOSS The price of aToSS stock has developed very strongly in recent years. In addition to this welcome asset growth, our shareholders have also participated in the company’s consistently growing profits through a variety of distributions. from the beginning of 2007 to the end of September 2012, the share price rose almost twice as strongly as the relevant benchmark daxsubsector Software performance Index. during that period aToSS shares put on 101 percent, while the index rose 52 percent.

a short-term comparison shows that from the beginning of october 2011 until the end of the reporting period, the price of aToSS stock climbed by around 23 percent. Taking into account the dividend payment of eur 0.71, the increase was around 27 percent. In the same period the daxsub-sector Software performance Index rose by some 51 percent. This was, however, dominated in the third quarter in particular by the substantial gains recorded by index heavyweight Sap®.

The potential of aToSS stock continues to enjoy positive ratings in regular reports appearing in the financial media. at the beginning of october, for example, aToSS stock was recommended by Börse online as the “top software stock for long-term investors”. With its “exuberant profits, solid growth and respectable dividend”, aToSS had “plenty to offer for investors”.

Dividend policy increases stability particularly in turbulent times, and with an eye to the prevailing low interest rates, a dependable, investor-friendly dividend policy is attractive. With earnings per share constantly rising, aToSS remains true to its established policy and distributes around half its profits to its shareholders.

ATOSS: EARNINGS/SHARE PER 31.12. IN EUR

earnings per share in the third quarter of 2012 amounted to eur 0.39, bringing total epS for the period from January to September 2012 to eur 1.15. In view of the positive business trends, other key figures too have developed more than satisfactorily. Cash flow per share in the third quarter remained high at eur 0.79, while liquidity as of September 30, 2012 amounted to eur 7.21 com-pared with eur 6.63 in the year before. The fact is that aToSS remains a very solid stock backed by some extremely sound figures.

Based on the consistent full-year forecasts for 2012, on october 23 this year, analysts at Warburg research reiterated their “hold” rating. In their assessment the analysts stressed that aToSS had slightly exceeded expectations for the third quarter and the full-year forecast should therefore be easily achievable. They also went on to emphasize in particular the continuing development in orders received at last year’s high level, the excellent quality of the aToSS balance sheet, strong cash flow and a further increase in liquidity after taking the dividend payment into account. The upside target for the share price remains at eur 22.20.

further information: www.atoss.com

I N v e S T o r r e l a T I o N S

2,00

1,50

1,00

0,50

0,002007 2008 2009 2010 2011

0.630.88 1.00

1.211.43

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Group Management Report

13

G r o u p M a N a G e M e N T r e p o r T

1. Business and conditions: Euro crisis weighs on the economy The global economy in autumn 2012 once again finds itself in a state of weakness. The economic clouds are gathering over almost every sector, and the mood among businesses and consumers alike has deteriorated still further. one of the material factors is the debt crisis, and indeed the crisis of confidence that has been sustained in the eurozone since last year, that exercises a substantial influence over the German economy. This was exacerbated earlier on in the spring by fresh problems in the crisis-hit states which in turn triggered turbulence on the financial markets and added to the state of economic uncertainty.

With clouds gathering over the global economy, Germany suffered a further decline in business confidence. The business climate index for manufacturing industry in Germany published by the ifo Institute fell in September for the fifth time in succession. Business expectations, too, have deteriorated month by month since april and have latterly reached their lowest level since the recession in 2008/2009.

according to the autumn 2012 Joint economic forecast, in view of the impact of the euro crisis on the German economy, economic expansion will for the time being remain weak, before recovering slightly in the course of next year. The institutes forecast a slight increase in Gdp of 0.8 percent in 2012 (previous year: 3.0 percent), followed by 1.0 percent in 2013.

The debt crisis in europe and the fraught situation on the financial markets have not left the ITC markets entirely unscathed, though in comparison with the economy as a whole the sector has remained stable. according to BITKoM’s economic survey, two thirds of German high-tech companies recorded rising sales in the third quarter. However the proportion of IT and telecom-munication companies reporting a decline in sales has risen from 13 percent to 21 percent. With this in mind, for 2012 BITKoM is forecasting growth of 2.3 percent in the IT sector, followed by 3.0 percent in 2013.

regardless of this development both in the economy as a whole and in the IT environment, in the first nine months aToSS has succeeded in setting new sales and earnings records. In its core software business the company achieved growth of 7 percent. There was also a welcome develop-ment in orders received for software licenses in particular in the third quarter. at eur 2.0 million, the volume of orders booked in Q3 was well up on the previous year (eur 1.5 million).

2. Earnings position: Renewed records in sales and earnings development In the first nine months of financial year 2012 aToSS recorded revenues up 5 percent at eur 24.5 million (previous year: eur 23.3). In our core software business sales climbed 7 percent from eur 13.9 million to eur 14.9 million. Software maintenance, too, continued to develop positively with turnover increasing by 9 percent from eur 9.0 million to eur 9.8 million.

In the consulting area, aToSS recorded growth of 5 percent in the first nine months of 2012, with revenues rising from eur 6.2 million last year to eur 6.5 million.

The operating profit (eBIT) was 7 percent higher than in the previous year, rising from eur 5.5 million to eur 5.9 million.

earnings before taxes (eBT) climbed 2 percent in the reporting period from eur 6.6 million to eur 6.8 million.

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Net income to 30 September 2012 came in at eur 4.6 million, representing growth of 2 percent relative to the eur 4.5 million recorded in the same period last year. earnings per share accord-ingly increased from eur 1.13 to eur 1.15.

as of the end of September incoming orders were at the same level as previous year at eur 4.8 million. orders on hand for software licenses stood at eur 3.0 million (previous year: eur 2.9 million). This is providing a good starting point for the current fourth quarter 2012 and the next financial year 2013.

3. Net assets and financial position In the first nine months of financial year 2012 cash flow from operations came in at eur 5.3 million (previous year: eur 7.0 million). Cash and equivalents slipped from eur 17.5 million to eur 15.9 million. The position as a whole, however, comprising cash and equivalents and other current and non-current financial assets (e.g. gold, equities) increased from eur 26.3 million to eur 28.7 million. liquidity per share on 30.09.2012 including these current and non-current assets accord-ingly stood at eur 7.21 (previous year: eur 6.63).

The decline in cash and equivalents relative to the year before is attributable to a redistribution of investments in other current and non-current financial assets. With this change in investment strategy the company intends to emphasize its focus on safeguarding long-term value and hedging against inflation and take adequate precautions against the effects of an increase in money supply and the steep rise in the sovereign debt ratios in numerous euro zone states as well as in the united States.

In total, the Management Board is authorized by the Supervisory Board to invest in physical gold in an amount of up to eur 17.0 million and in dividend-bearing securities in an amount of up to eur 5.0 million. on September 30, 2012 the company had eur 8.8 million invested in gold and eur 3.2 million invested in dividend-bearing securities.

In addition to net earnings of eur 4.6 million, the eur 5.3 million in cash flow from operations was also boosted by an increase in deferred revenues of eur 3.4 million. Cash flow reducing effects induced by reduction of trade accounts payable and other liabilities of eur 1.1 million and by reduction of tax provision of eur 1.0 million.

aToSS also recorded an equity ratio of 66 percent (previous year: 60 percent). The company thus remains extremely well capitalized, with solvency assured at all times.

4. Product development a high level of expenditure on research and development remains an important component of the aToSS growth strategy with the goal of further extending the company’s strong position as a technological leader in workforce management. research and development costs rose by 8 percent in the first nine months at eur 5.3 million (previous year: eur 4.9 million). research and development costs as a proportion of overall sales amounted to 22 percent (previous year: 21 percent).

The company continues to refrain from capitalizing the expense of developing new products. all expenditure for this purpose is recognized in the income statement in the period in which it is incurred.

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G r o u p M a N a G e M e N T r e p o r T

5. Employees as compared to previous year the number of employees rose from 259 to 270. on September 30, 2012 aToSS employed 118 software developers (previous year: 117), with a further 72 staff em-ployed in consulting (previous year: 68), 38 in sales and marketing (previous year: 37) and 42 in administration (previous year: 37).

personnel costs for the first nine months of the current financial year amounted to eur 12.0 million (previous year: eur 11.1 million).

6. Risks associated with future development There has been no change in the company’s risk structure relative to the description contained in the consolidated financial statements to december 31, 2011.

7. Events after the reporting period Within the defined investment strategy the company has acquired physical gold in the amount of eur 5.0 million in october 2012.

There have been no further reportable events of particular significance since September 30, 2012.

8. Outlook Having delivered its nine-months figures, aToSS is able to report a continuing positive trend in sales and earnings. In view of this development and in consideration of the orders received and on hand, the Management Board continues to expect moderate full-year growth in 2012 with an eBIT margin securely above 20 percent.

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H a l f - Y e a r l Y r e p o r T | Q u a r T e r l Y r e p o r T Q 2 . 2 0 1 2

A T O S S c u s t o m e r B L G L O G I S T I C S G R O U P

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C o N S o l I d a T e d B a l a N C e S H e e T

CONSOLIdATEd BALANCE SHEET TO 30.09.2012 IN EUR

Assets 30.09.2012 31.12.2011

Non-current assets

Tangible fixed assets 2,828,992 2,948,852

Intangible assets 151,177 177,184

Other financial assets 630,295 553,450

Deferred taxes 292,197 277,534

Total non-current assets 3,902,661 3,957,020

Current assets

Inventories 8,130 8,199

Trade accounts receivable 2,614,252 2,611,623

Other financial assets 12,153,664 9,180,200

Other non-financial assets 1,014,090 518,104

Cash and equivalents 15,871,729 15,117,296

Total current assets 31,661,865 27,435,422

Total assets 35,564,526 31,392,442

Equity and Liabilities 30.09.2012 31.12.2011

Equity

Subscribed capital 3,976,568 4,025,667

Capital reserve -661,338 -387,528

Treasury stock 0 -322,909

Equity deriving from unrealized profits/losses 705,698 205,237

Unappropriated net income 19,325,156 17,585,809

Total equity 23,346,084 21,106,276

Non-current liabilities

Pension provisions 1,726,757 1,716,969

Deferred taxes 839,880 321,766

Total non-current liabilities 2,566,637 2,038,735

Current liabilities

Trade accounts payable 335,901 790,104

Other liabilities 3,990,613 4,622,107

Deferred revenues 5,151,433 1,702,752

Tax provisions 79,858 1,038,468

Other provisions 94,000 94,000

Total current liabilities 9,651,805 8,247,431

Total equity and liabilities 35,564,526 31,392,442

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CONSOLIdATEd INCOME STATEMENT FROM 01.01.2012 TO 30.09.2012

Quarterly report 9-months report

01.07.2012 -30.09.2012

01.07.2011 -30.09.2011

01.01.2012 -30.09.2012

01.01.2011 -30.09.2011

Sales 8,242,119 7,584,286 24,515,413 23,346,121

Cost of sales -2,452,328 -2,247,178 -7,166,972 -6,918,378

Gross profit on sales 5,789,791 5,337,108 17,348,441 16,427,743

Selling costs -1,436,638 -1,301,039 -4,021,667 -4,030,207

Administration costs -696,086 -673,882 -2,096,108 -1,941,665

Research and development costs -1,745,519 -1,684,047 -5,302,101 -4,927,642

Other operating expenses -31,221 -62,554 -60,453 -100,670

Other operating income 735 48,824 49,614 114,387

Operating profit (EBIT) 1,881,062 1,664,410 5,917,726 5,541,946

Interest and similar income 454,525 1,855,293 1,114,269 1,998,934

Interest and similar expenses -52,633 -902,485 -276,149 -941,741

Earnings before taxes (EBT) 2,282,954 2,617,218 6,755,846 6,599,139

Taxes on income and earnings -731,952 -845,288 -2,193,136 -2,123,031

Net income 1,551,002 1,771,930 4,562,710 4,476,108

Earnings per share (undiluted) 0.39 0.45 1.15 1.13

Earnings per share (diluted) 0.39 0.45 1.15 1.13

Average number of shares in circulation (undiluted)

3,976,568 3,976,568 3,976,568 3,975,121

Average number of shares in circulation (diluted)

3,976,568 3,976,568 3,976,568 3,976,568

CONSOLIdATEd STATEMENT OF COMPREHENSIVE INCOME FROM 01.01.2012 TO 30.09.2012 IN EUR

01.01.2012 -30.09.2012

01.01.2011 -30.09.2011

Net income 4,562,710 4,476,108

Changes not recognized in profit and loss resulting from the sale/purchase of treasury stock

0 41,050

Changes not recognized in profit or loss resulting from available-for-sale financial assets

662,831 -49,666

Income tax effects -162,370 27,865

Other income for the period after taxes 500,461 19,249

Comprehensive income after taxes 5,063,171 4,495,357

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CONSOLIdATEd CASH FLOW STATEMENT FROM 01.01.2012 TO 30.09.2012 IN EUR

01.01.2012 -30.09.2012

01.01.2011 -30.09.2011

Cash Flow from business operations (1)

Net income 4,562,710 4,476,108

Depreciation of fixed assets 422,361 357,825

Gains/Losses from the disposal of fixed assets 370 255

Gains/Losses from the sale of available-for-sale financial assets -612,135 -1,842,618

Other result on financial asset -329,632 733,622

Change in deferred taxes 503,451 -267,442

Change in pension provisions 9,788 -35,456

Adjustment for other items not recognized in profit or loss -162,371 18,303

Change in net current assets

Trade accounts receivable -2,629 760,481

Inventories and other assets -495,916 -132,503

Trade accounts payable -454,203 -479,759

Other liabilities -631,495 -331,322

Deferred revenues 3,448,681 3,674,398

Tax provisions -958,610 27,547

Cash flow from business operations (1) 5,300,370 6,959,439

Cash flow from investing activities

Disbursements for the acquisition of tangible and intangible fixed assets -276,864 -425,552

Receipts from the disposal of other financial assets 4,220,078 15,552,706

Disbursements for the acquisition of other financial assets -5,778,148 -23,054,921

Receipts from interests 112,442 143,659

Disbursements for interests -82 -1,319

Cash flows generated from investing activities (2) -1,722,574 -7,785,427

Cash flow from financing activities

Income from the sale of treasury stock 0 41,050

Dividend payments -2,823,363 -2,385,941

Cash flows from financing activities (3) -2,823,363 -2,344,891

Changes in cash and equivalents – total of (1) to (3) 754,433 -3,170,879

Cash and equivalents at the beginning of the period 15,117,296 20,691,419

Cash and equivalents at the end of the period 15,871,729 17,520,540

C o N S o l I d a T e d I N C o M e S T a T e M e N T C o N S o l I d a T e d S T a T e M e N T o f C o M p r e H e N S I v e I N C o M e

C o N S o l I d a T e d C a S H f l o W S T a T e M e N T

(1) operating cash flow adjusted relative to figures reported in the previous year to allow for reported interest income and expenses, since from december 31, 2011 this is reported within cash flow from investment activities.

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A T O S S c u s t o m e r e t e r n a

21

CONSOLIdATEd STATEMENT OF CHANGES IN EQUITY TO 30.09.2012 IN EUR

Subscribed capital

Capital reserve

Treasury stock

Equity deriving from

unrealized profits/losses

Unappro- priated

net income

Total

As of 01.01.2011 4,025,667 -375,203 -376,284 0 14,296,435 17,570,615

Net income 0 0 0 0 4,476,108 4,476,108

Sale of treasury stock 0 -12,325 53,375 0 0 41,050

Purchase of treasury stock 0 0 0 0 0 0

Dividend 0 0 0 0 -2,385,941 -2,385,941

Other changes in equity 0 0 0 -21,801 0 -21,801

As of 30.09.2011 4,025,667 -387,528 -322,909 -21,801 16,386,602 19,680,031

As of 01.01.2012 4,025,667 -387,528 -322,909 205,237 17,585,809 21,106,276

Net income 0 0 0 0 4,562,710 4,562,710

Withdrawal of treasury shares -49,099 -273,810 322,909 0 0 0

Dividend 0 0 0 0 -2,823,363 -2,823,363

Other changes in equity 0 0 0 500,461 0 500,461

As of 30.09.2012 3,976,568 -661,338 0 705,698 19,325,156 23,346,084

One share represents 1 euro of subscribed capital.

C o N S o l I d a T e d S T a T e M e N T o f C H a N G e S I N e Q u I T Y

Notes to the consolidated financial statement

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23

N o T e S T o T H e C o N S o l I d a T e d f I N a N C I a l S T a T e M e N T

1. General The present report has been prepared in accordance with International financial reporting Standards (IfrS) in compliance with IaS 1.14. In particular the report complies with the provisions contained in IaS 34 “Interim financial reporting”. The requirements contained in German ac-counting Standard (drS) No. 6 regarding interim reporting have likewise been fulfilled.

In accordance with IaS 34.20, the present statements include a consolidated balance sheet, consolidated income statement, consolidated statement of comprehensive income, consolidated cash flow statement, a statement of changes in consolidated equity and explanatory notes to the consolidated statements.

The same financial accounting, valuation and computation methods have been applied as in the case of the annual financial statements to december 31, 2011.

The Management Board is satisfied that the impression of the economic situation of the company, its net assets, financial position, earnings situation and cash flow conveyed by the present quar-terly financial statements accords with the true facts. This interim report has not undergone an auditors’ inspection or statutory audit.

2. Reporting period The present interim report was prepared to September 30, 2012 for the reporting period from January 1, 2012 to that date.

3. Currency all figures are stated in euro. amounts are rounded up to whole euro units.

4. Group of consolidated companies In addition to the parent company aToSS Software aG, Munich, the consolidated financial state-ments to September 30, 2012 also include all subsidiary companies:

aToSS CSd Software GmbH, Cham, Germany aToSS Software Ges.mbH, vienna, austria aToSS Software aG, Zurich, Switzerland aToSS Software S.r.l., Timisoara, romania

These companies are fully consolidated.

5. Changes in equity The development in equity is evident from the statement of changes in consolidated equity.

6. Treasury stock In the first nine months some 49,099 treasury shares were withdrawn, since the primary reason for holding these shares – namely to underpin the convertible bond program – is no longer applicable following the expiry of the program. The shares were withdrawn on the basis of a resolution adopted at the annual general meeting of aToSS Software aG on May 2, 2011, which authorized the Board of Management to purchase shares in the company. Shares purchased on the basis of this and previous authorizations may be withdrawn without the need for a further resolution by the general meeting to approve the withdrawal thereof (Section 71, para. 1, No. 8, Sentence 6 of the German Stock Corporation act).

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7. Sales The company’s sales were composed as follows:

EUR 01.01.2012 -30.09.2012

01.01.2011 -30.09.2011

Software licenses 5,056,281 4,913,558

Software maintenance 9,794,628 9,016,677

Total software 14,850,909 13,930,231

Consulting 6,533,762 6,236,274

Hardware 2,062,875 2,198,652

Others 1,067,867 980,964

Total Sales 24,515,413 23,346,121

The geographic breakdown of sales was as follows:

EUR 01.01.2012 -30.09.2012

01.01.2011 -30.09.2011

Germany 22,207,059 21,218,431

Austria 1,165,567 1,304,318

Switzerland 565,711 524,592

German-speaking territories in total 23,938,337 23,047,341

Other countries 577,076 298,780

Total Sales 24,515,413 23,346,121

8. Personnel costsThe consolidated personnel costs to September 30, 2012 were composed as follows:

EUR 01.01.2012 -30.09.2012

01.01.2011 -30.09.2011

Wages and salaries 9,954,610 9,173,180

Social security contributions and expenditure on retirement pensions and welfare

2,072,577 1,972,512

Total personnel costs 12,027,187 11,145,692

9. Other operating income and expensesIn the first nine months of the current financial year the company recorded other operating income in the amount of eur 49,614 (previous year: eur 114,387). This essentially comprised income resulting from the liquidation of reserves in the amount of eur 26,879 (previous year: eur 6,758) and exchange rate differentials in the amount of eur 17,010 (previous year: eur 105,356).

The other operating expenses amounting to eur 60,453 (previous year: eur 100,670) essentially related to exchange rate losses.

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10. Financial investment income and expenses In the first nine months of the current financial year the company recorded income in the amount of eur 1,114,269 (previous year: eur 1,998,934) from financial investments. This essentially comprised profits from the sale of financial assets in the amount of eur 477,372 (previous year: eur 1,775,299), income from write-ups on financial assets in the amount of eur 389,692 (previous year: eur 5,086), as well as interest income in the amount of eur 112,442 (previous year: eur 143,659) and dividends received in the amount of eur 134,763 (previous year: eur 67,334).

The company also recorded expenses amounting as of September 30, 2012 to eur 276,149 (previous year: eur 941,741). These comprised financial asset impairments in the amount of eur 172,419 (previous year: eur 871,269) resulting from intra-year valuations to September 30, 2012 and interest costs incurred in connection with pension provisions in the amount of eur 103,729 (previous year: eur 57,457).

11. Tax charge Consolidated tax expenses to September 30, 2012 were comprised as follows:

EUR 01.01.2012 -30.09.2012

01.01.2011 -30.09.2011

Eearnings before taxes (EBT) 6,755,846 6,599,139

Expected tax charge (2012: 32.60%, 2011: 32.98%) -2,202,406 -2,176,396

Non-deductible operating expenses -9,907 -13,916

Permanent differences resulting from balance sheet differentials -56,209 0

Differences in tax rates at consolidated companies 75,386 67,281

Actual Group tax charge -2,193,136 -2,123,031

12. Earnings per share The figure for earnings per share is arrived at by dividing the net income in the amount of eur 4,562,710 by the weighted average number of shares outstanding. Between January 1 and Septem-ber 30, 2012 there was an average of 3,976,568 shares in circulation. Thus earnings per share for this period amounted to eur 1.15, in comparison with eur 1.13, in the first nine months of the preceding year.

In order to calculate diluted earnings per share, the net income must be adjusted to allow for the interest cost relating to convertible bonds in the amount of eur 0 (previous year: eur 22). In addition the average number of shares outstanding is increased with the inclusion of shares potentially issued as a result of convertible bonds. Between January 1 and September 30, 2012 there were no convertible bonds in circulation. Thus the diluted earnings per share for this period amounted to eur 1.15, in comparison with eur 1.13, the preceding year.

13. Segment reportingThe company has only one uniform business segment which comprises the creation, sale and implementation of software solutions directed towards the efficient deployment of personnel.

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The individual software solutions comprise:

ATOSS Staff Efficiency Suite (ASES) and ATOSS Startup Edition (ASE): aSeS and aSe are working time management and personnel resource planning solutions for customers of all sizes in all industries. These software solutions are generally accompanied by other services covering implementation and training. In addition consulting services are rendered with the object of making meaningful use of the available scope and developing optimum solutions for the efficient deployment of personnel under specific operating conditions and in consideration of works agreements and industry-wide pay deals. The company also sells hardware components for time recording and access control purposes. aSeS/aSe software is used in conjunction with all major standard system platforms and databases. Moreover thanks to the extensive facility to define customer-specific parameters these solutions are capable of satisfying even the most sophisticated requirements of customers of all sizes in all industries.

ATOSS Time Control (ATC): aTC offers a software solution to time and attendance management and personnel resource planning for small and medium-sized customers as well as large but decentrally organized clients. likewise, in conjunction with aTC, aToSS offers software implementation and training as well as consulting services. Merchandise including hardware and recording media is also avail-able. aTC software is installed on the Microsoft Windows system platform in association with standard SQl databases and is particularly user-friendly and convenient for small to medium-sized customers as well as large decentralized organizations.

EUR 01.01.2012 -30.09.2012

01.01.2011 -30.09.2011

Sales

ATOSS Staff Efficiency Suite (ASES) and ATOSS Startup Edition (ASE)

22,567,748 21,454,259

ATOSS Time Control (ATC) 1,947,665 1,891,862

Total sales 24,515,413 23,346,121

Operating profit (EBIT)

ATOSS Staff Efficiency Suite (ASES) and ATOSS Startup Edition (ASE)

5,609,819 5,049,181

ATOSS Time Control (ATC) 307,907 492,765

Total operating profit (EBIT) 5,917,726 5,541,946

14. Employeeson September 30, 2012 the company had 270 employees (previous year: 259).

01.01.2012 -30.09.2012

01.01.2011 -30.09.2011

Development 118 117

Consulting 72 68

Sales and Marketing 38 37

Administration 42 37

Total 270 259

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15. Board of ManagementThe members of the Board of Management are:

Andreas F.J. Obereder Chief Executive Officer

Christof Leiber Executive Board

16. Supervisory Board The members of the Supervisory Board are:

Peter Kirn Chairman

Rolf Baron Vielhauer von Hohenhau Deputy Chairman

Richard Hauser Member of the Supervisory Board

17. Board member shareholdingson the reporting date of September 30, 2012 board members held the following numbers of aToSS shares:

EUR 30.09.2012 30.06.2012 31.03.2012 31.12.2011 30.09.2011

Andreas F.J. Obereder 1,988,285 1,988,285 1,988,285 1,981,184 1,981,184

Peter Kirn 14,760 14,760 14,760 19,760 19,760

18. Notifiable participating interestsIn the first nine months of financial year 2012 the company received the following notifications regarding changes in participating interests pursuant to sections 21 ff. of the German Securities Trading act:

on January 30, 2012 the share in voting rights held by Mr. andreas obereder, Germany, exceeded 50 percent of nominal capital. His holding at that time amounted to 50.0000025 percent.

on January 27, 2012 the share in voting rights held by Mainfirst SICav, luxembourg, exceeded 5 percent of nominal capital. Its holding at that time amounted to 5.06 percent.

on March 13, 2012 the threshold of 3 percent of voting rights was exceeded with the purchase of shares by Investmentaktiengesellschaft für langfristige Investoren TGv, Germany. Its holding at that time amounted to 3.93 percent. on March 15, 2012 the proportion of 5 percent of voting rights was exceeded with the purchase of further shares by this company whose holding at this time amounted to 5.83 percent.

on March 09, 2012 universal Investment, Germany, reduced its holding below the voting rights threshold of 3 percent of nominal capital through the sale of shares. Its holding at that time amounted to 2.32 percent.

on March 20, 2012 the threshold of 3 percent of voting rights was exceeded with the purchase of shares by IfM Independent fund Management aG, liechtenstein. Its holding at that time amounted to 3.27 percent.

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19. Business transactions with closely related persons The wife of the Chief executive officer provides services to the company. In the first nine months of the financial year 2012 the value of these services amounted to eur 4,056 (previous year: eur 4,316).

The company is satisfied that the terms agreed for these transactions are standard market terms.

20. Events after the reporting period Within the defined investment strategy the company has acquired physical gold in the amount of eur 5.0 million in october 2012.

There have been no further reportable events of particular significance since September 30, 2012.

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We hereby give an assurance to the best of our knowledge and belief that in accordance with the applicable interim reporting standards these interim consolidated financial statements convey an impression of the net assets, financial position and earnings situation of the Group which accords with the true facts; and that the development in business including the results and the situation of the Group are so described in the interim consolidated management report as to convey an impression which likewise accords with the true facts; and that the essential opportunities and risks associated with the anticipated development of the Group in the remainder of the financial year are so described.

Declaration by the Legal Representatives

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Munich, November 15, 2012

andreas f.J. obereder Christof leiberChief executive officer Member of the Board of Management

This report contains forward-looking statements that are based on the conviction of the Manage-ment Board of aToSS Software aG and reflect current assumptions and estimations. These forward-looking statements are subject to risks and uncertainties. Many facts that cannot currently be predicted may cause the actual performance and earnings of aToSS Software aG to develop in a different manner. This could for example include the non-acceptance of newly introduced products or services, changes in the general economic and business climate, a failure to achieve efficiency and cost-reduction targets or changes in business strategy.

The Management Board is firmly convinced that the expectations embodied in these forward-looking statements are sound and realistic. Should however the above-mentioned or other unforeseeable risks materialize, aToSS Software aG cannot guarantee that the expressed expectations will prove to be correct.

Declaration by the Legal Representatives Disclaimer

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d e C l a r a T I o N B Y T H e l e G a l r e p r e S e N T a T I v e S d I S C l a I M e r

Corporate Calendar

31.01.2013 press release announcing preliminary results for 2012 12.03.2013 publication of the annual report for 2012

12.03.2013 Balance sheet press conference

22.04.2013 press release announcing three months‘ statement

26.04.2013 annual General Meeting

13.05.2013 publication three months‘ statement

22.07.2013 press release announcing six months‘ statement

12.08.2013 publication six months‘ statement

21.10.2013 press release announcing nine months‘ statement

18.11.2013 publication nine months‘ statement

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RESPONSIBLE

ATOSS Software AG Am Moosfeld 3 81829 Munich T + 49 89 4 27 71 0 F + 49 89 4 27 71 100 www.atoss.com

INVESTOR REL ATIONS

ATOSS Software AG Investor Relations Christof Leiber T +49 89 4 27 71 0 F +49 89 4 27 71 100 [email protected]

Imprint

OTHER OFFICES

DüsseldorfT +49 2150 9 65 0

FrankfurtT +49 69 13 82 43 0

HamburgT +49 40 27 81 63 0

StuttgartT +49 7 11 7 28 73 200

SUBSIdIARIES

GermanyATOSS CSD Software GmbH, ChamT +49 99 71 85 18 0AustriaATOSS Software Ges.mbH, ViennaT +43 1 7 17 28 334

SwitzerlandATOSS Software AG, ZurichT +41 44 3 08 39 56

RomaniaATOSS Software SRL, TimisoaraT +40 356 710 170

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C o r p o r a T e C a l e N d a rI M p r I N T

ATOSS Software AG Am Moosfeld 3 81829 München T + 49 89 4 27 71 0 F + 49 89 4 27 71 100 [email protected] www.atoss.com

Documents

Q3 - atoss.com€¦ · Q1-Q3/10 Q1-Q3/11 Q1-Q3/12 13.2 14.9 13.9 ECONOMIC BACKGROUNd federal government growth forecast for 2012: Gross domestic product +0.8 percent (2013: +1.0 percent)