EANS-News: USU Software AG: Successful business development in first half of 2012 / Partnership with CA Technologies brings additional growth options

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6-month report

Subtitle:
• Sales increase of 20% to EUR 25.0 million
• International sales doubled to EUR 4.4 million
• 100% Aspera acquisition completed
• Strategic partnership with CA Technologies in license management
• Adjusted EBIT increased by 28% year-on-year to EUR 2.9 million
• Group liquidity over EUR 13 million despite Aspera purchase
• Group forecasts for the fiscal year confirmed

Möglingen (euro adhoc) - USU Software AG ("USU") today published its
financial figures for the first half of 2012. From January to June
2012, USU increased its consolidated sales under IFRS by 20%
year-on-year to EUR 25.0 million (H1 2011: EUR 20.8 million) and
continued the positive growth trend. International business performed
particularly well, with sales of EUR 4.4 million (H1 2011: EUR 2.2
million), double the sales generated in the previous year. The share
of consolidated sales generated outside Germany therefore rose from
10% in H1 2011 to 18% in H1 2012, exceeding the mid-term target of
15% in the first half of 2012.

A large proportion of the increased international sales were
generated by the subsidiary Aspera GmbH ("Aspera"), which USU
acquired in full at the end of May. As a result, USU Software AG
reports further strategic success with regard to its international
growth strategy. In Q3 2012, via its subsidiary Aspera, USU concluded
a long-term partnership agreement with CA Technologies ("CA") and
thus confirmed its global leadership in software license management.
CA, one of the biggest global software companies, will now operate
Aspera's license management portfolio as well as its service
management product suite. From 2013, after an initial phase without a
significant impact on sales and earnings in the reporting year, the
Management Board expects CA to contribute annual earnings of over EUR
1 million to the USU Group as a result of this partnership agreement.
USU will continue to expand its international business, as planned,
on the basis of this strategic partnership.

In the first six months of 2012, the USU Group's operating cost base
increased year-on-year by 21% to EUR 22.4 million (H1 2011: EUR 18.6
million), primarily due to the targeted expansion of the Group's
workforce by 11% to 334 (H1 2011: 301) employees, and the additional
deployment of external consulting resources as a result of gaining
numerous project contracts.

Owing to the extraordinary effect of the 100% Aspera acquisition and
the associated extraordinary expense for the purchase price
adjustment of EUR 1.9 million in Q1 2012, EBITDA under IFRS for the
first half of 2012 amounted to EUR 1.1 million (H1 2011: EUR 2.5
million). In the same quarter, EBIT amounted to EUR 0.3 million (H1
2011: EUR 1.5 million). The USU Group's unadjusted net result for the
period was EUR -0.8 million (H1 2011: EUR 0.8 million) as a result of
the extraordinary effect of the Aspera acquisition. This represents
earnings per share according to IFRS of EUR -0.08 (H1 2011: EUR
0.08).

In the period under review, the USU Group's EBIT adjusted for
extraordinary effects ("adjusted EBIT") increased by 28.2% to EUR 2.9
million (H1 2011: EUR 2.25 million). In the reporting period,
adjusted consolidated earnings increased by 9.2% year-on-year from to
EUR 1.9 million (H1 2011: EUR 1.7 million). This corresponds to
adjusted earnings per share of EUR 0.18 (H1 2011: EUR 0.16).

As a result of the purchase price payment of EUR 7.7 million for the
100% acquisition of Aspera and the resulting profit distribution of
EUR 1.3 million to the former Aspera non-controlling interests, made
in cash in Q2 2012, the USU Group's liquidity declined to EUR 13.4
million as at June 30, 2012 (December 31, 2011: EUR 17.6 million).
The comparatively small decline reflects the positive development of
cash flow from the USU Group's operating activities, which was again
positive and above the level of the previous year at EUR 5.1 million
in the first half of 2012 (H1 2011: EUR 3.9 million). As a result of
settling the purchase price liability for Aspera, the equity ratio as
at June 30, 2012 increased to 74% (December 31, 2011: 71%).

Following a successful first half of the year, the Management Board
is confirming its target for 2012 of consolidated sales of at least
EUR 48 million and adjusted EBIT of between EUR 6.5 million and EUR
7.0 million. This is supported by the USU Group's high level of
orders on hand, which increased by 8% year-on-year to EUR 24.5
million as at June 30, 2012.

Thanks to the growth opportunities due to orders and the new
partnership with CA, the Management Board is also extremely
optimistic for the following year, and anticipates that the company
will break through the EUR 50 million mark for consolidated sales
while continuing to improve adjusted EBIT.

Further inquiry note:
USU Software AG
Investor Relations
Falk Sorge
Spitalhof
D-71696 Möglingen
Tel.: +49 (0) 71 41 - 48 67 351
Fax: +49 (0) 71 41 - 48 67 108
E-Mail: f.sorge@usu-software.de

USU Software AG
Corporate Communications
Dr. Thomas Gerick
Tel.: +49 (0) 71 41 - 48 67 440
Fax: +49 (0) 71 41 - 48 67 909
E-Mail: t.gerick@usu-software.de

end of announcement euro adhoc
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company: USU Software AG
Spitalhof
D-71696 Möglingen
phone: +49 (0)7141 4867 0
FAX: +49 (0)7141 4867 20
mail: investor@usu-software.de
WWW: http://www.usu-software.de
sector: Software
ISIN: DE000A0BVU28
indexes: CDAX, Prime All Share, Technology All Share
stockmarkets: free trade: Hannover, Berlin, München, Hamburg, Düsseldorf,
regulated dealing: Stuttgart, regulated dealing/prime standard:
Frankfurt
language: English