DGAP-News: Major order for subsidiary of ifa systems AG

Major order for subsidiary of ifa systems AG

• License agreement about EUR 1.6 million to use Inoveon's database worldwide and non-exclusively for research purposes
• One-time effect will raise the guidance for 2019

Inoveon Corporation, a US American subsidiary of ifa systems AG, has entered into a license contract in the amount of USD 1.75 million (EUR 1.6 million). This contract grants a company that wishes to remain anonymous the worldwide non-exclusive license for access to 3 million de-identified and ETDRS graded ophthalmological images produced by Inoveon Corporation. The one-time license fee will be paid in the current fiscal half year and thereby have a positive impact on the sales and profit situation of ifa systems group in the fiscal year 2019. Therefore, the Management Board will revise the guidance for the revenue and result after the first half of the year.

"We are pleased to have found additional prospects for the full database who can successfully use the data for research purposes", says Joerg Polis, chairman of the Management Board of ifa systems AG. "Previous attempts to develop a business model for the database were narrow in scope and failed, for example on the question of how to build a payable usage model for the database." Licensing the full database for specific analysis has resulted in the highest and best use as indicated by past and current license arrangements. Among other licensors, Topcon Corporation, the previous majority shareholder, recently also licensed the Inoveon database for an undisclosed amount.

The revenue and earnings contribution resulting from this license agreement is a one-off effect and therefore was not included in the planning for the financial year. The guidance for the financial year will therefore be revised after the first half-year. "Our business has developed successfully in the first months of the year partly due to the implementation of the telematics infrastructure", says Polis. "This extraordinary order is equivalent to more than 20 percent of the planned revenue and will have a significant on-off impact on the earnings situation. Thus, we want to update our guidance for the financial year 2019 with the half-year report." In accordance with the priorities for the current financial year, the Management Board plans to use the additional liquid funds to further reduce external debt and to invest to a greater extent in product development.

Dates:

The half-year report is expected to be published on August 15, 2019.

Contact for information:
ifa systems AG
Augustinusstr. 11b
50226 Frechen (Germany)
ir@ifasystems.de
+49 2234 933 670