- Shares' first quote determined at EUR 21.40
- GK SOFTWARE is thus the first successful IPO in the Prime Standard in 2008
'We are very pleased to have broken the ice on the stock market after so many months,' commented Rainer Gläß, GK SOFTWARE AG's CEO. 'The Investors are convinced by our scalable business model combined with our profitable growth!' The IPO has brought gross proceeds of around EUR 10 million including greenshoe to the software company based in Saxony, Germany. The company plans to use these proceeds (less costs of the issue) to invest in its further expansion. This includes accelerated internationalization in the rest of Europe, expanding strategic sales alliances and increased investments in the product portfolio, in order to further reinforce the company's technology leadership. Rainer Gläß added: 'In addition, we are planning to develop new segments within the retail sector. Do-It-Yourself-store chains, gas stations and restaurant chains in particular offer substantial growth potential for our company. In addition, we also want to increasingly acquire small and medium-sized retailers as customers for our standardized solutions.'
GK SOFTWARE AG enjoys a highly successful history. The company was formed in 1990 and has recorded average revenue growth of 44% p.a. over the past three years. Over the same period, GK SOFTWARE AG increased its EBIT from EUR 0.5 million to EUR 2.3 million. Andre Hergert, GK SOFTWARE'S CFO, also ventured some further information: 'We again enjoyed substantial growth in the first quarter of 2008. Revenues climbed to EUR 3.7 million, and at the same time we recorded an EBIT margin of 27%. This positive trend is now also continuing in the second quarter.' The newly acquired, international customer Coop (Switzerland) and other promising projects that are in the decision-making phase, mean that GK SOFTWARE AG's Managing Board is thus very confident that it the company will also be able to enjoy highly dynamic growth in future with high profitability.
Overview
