17.03.2020 – Crealogix Holding AG

CREALOGIX with slight decrease in revenue - transformation progressing

Media release

Zurich, 17 March 2019

2019/2020 Half-Year Results

CREALOGIX with slight decrease in revenue - transformation progressing

  • CREALOGIX generated CHF 48.6 million in the first half of 2019/2020 (same period in the previous year: CHF 51.0 million).
  • In local currencies, the revenue decrease corresponds to 2%.
  • The SaaS effect continues: Profitability (EBITDA) was CHF 0.4 million due to change in license model. Without, revenue and EBITDA would have been CHF 4.8 million higher in the first half of 2019/2020.
  • The share of recurring revenues increased from 44 % to 47 %.
  • The Group confirms its targets for the 2019/20 financial year. However, the effects of COVID-19 may lead to a negative impact on the achievement of short-term targets.

Digitisation is primarily a customer experience matter rather than a core banking system one. This plays to CREALOGIX's advantage and has been reflected in a series of successful go-lives and customer deals in all markets over the past six months.

In digital banking for businesses, Swiss SME bank Valiant is making its corporate clients’ workloads easier with a multibanking module from CREALOGIX. The launch of our Digital Engagement Platform at the renowned British investment consultancy Killik & Co. reflects how good business relationships can be sustained beyond Brexit. Moreover, two Tier 1 customers were acquired: next to one of the leading banks in Southeast Asia, the Raiffeisenverband Südtirol chose CREALOGIX's products. Shortly after the opening of the CREALOGIX branch in Riyadh, a comprehensive digitisation project was won and launched for a major Saudi Arabian customer. In addition to further significant contracts and projects, the issuing of a new oversubscribed convertible bond for the amount of CHF 25 million is one of the gratifying events of the first half of the 2019/2020 financial year; it provides the necessary financial scope to support the transformation of CREALOGIX, which continues to gain momentum.

Half-year results

The transformation and further expansion of the company in order to meet the challenges of the future is reflected in the figures: in the first half of the financial year, revenues decreased by 5% from CHF 51.0 million to CHF 48.6 million. In local currencies, the Group generated revenues of CHF 49.7 million, a decrease of 2%. In addition to the foreign exchange effect, the accelerated consolidation and standardisation of CREALOGIX’s product portfolio influenced the half-year results. Demand for its SaaS offering is growing steadily; the share of revenue from this business grew by 6% from CHF 7.6 million to CHF 8.0 million, corresponding to growth of 10% in local currencies. The effect of switching to a SaaS model impacted EBITDA, which was CHF 0.4 million in the first half of 2019/20 (same period of the previous year: CHF 3.3 million). Had the Group sold traditional licence fees during this period instead of closing SaaS deals, revenue and EBITDA would have been CHF 4.8 million higher. Overall, the share of recurring revenues continued to grow and contributed 47% to total revenues (previous year: 44%). Due to the higher financial liabilities associated with the convertible bond that was issued successfully, the equity ratio declined to 45% (30 June 2019: 57%). With the help of free cash flow of CHF 4.9 million, net debt was converted into net assets in the first half of the financial year. The Group's liquidity is healthy at CHF 34.0 million.


CREALOGIX continues to pursue its transformation to become the leading global SaaS digital banking software provider. Gaining access to new markets such as Asia, the Middle East and North America promotes the Group’s strategy. Especially in Asia, the Group sees growth potential by serving the increased demand for digital banking solutions for the growing affluent middle-class sector. It is implementing its digital products at banks in Asia so that they can respond to the growing demand for wealth management services. Based on this starting position, far-reaching and sustainable investments in strengthening the organization in the Asian market are made.

“As a provider of pioneering software for digital banking, our passion is to develop new products. These enable our customers, i.e. the banks, to acquire new customers or grow business with existing customers. In order to meet customer needs even more effectively, we will introduce a number of new developments in the near future”, says Oliver Weber, Chief Executive Officer at CREALOGIX. These include the "Conversational Engagement App". This cloud-based product gives banks the means to interact and communicate securely with their customer base. For instance, banks can submit investment advice suggestions to their clients via chat or video. An enhanced multibanking solution will pave the way for open banking in Switzerland and also set the course in the German market. The new one-stop service includes modules such as Personal and Business Finance Manager, enabling corporate and individual customers alike to centrally monitor and manage their liquidity across different banking relationships via an attractive front-end.

The investments made in changing the business model will generate economies of scale and efficiency gains over the coming reporting periods. The commitment to this strategic realignment is reflected by confirming the goals communicated in September 2019: Revenues for the full year 2019/20 will grow further. However, the effects of COVID-19 on bank’s investment activities and the resulting change in the overall economic situation are difficult to predict at present. Therefore, the Group expects that this could have a negative impact on the ability to achieve the short-term goals over the next 6-12 months. CREALOGIX expects the transformation to yield positive results in the mid-term in the form of solid cash flows and double-digit EBITDA margins.

The full half-year report for 2019/2020 is available for download at crealogix.com/report-en.

Group Key Figures


The CREALOGIX Group is a Swiss Fintech 100 company and is among the global market leaders in digital banking. CREALOGIX develops and implements innovative fintech solutions for the financial institutions of tomorrow. Using digital solutions from CREALOGIX, banks, wealth managers, and other financial institutions can better respond to evolving customer needs in the area of digital transformation, enabling them to hold their ground in a very demanding and dynamic market and remain ahead of their competitors. The group, founded in 1996, has more than 700 employees worldwide. The shares of CREALOGIX Group (CLXN) are traded on the SIX Swiss Exchange.

The economic projections and predictions contained in this information relate to future facts. Such projections and predictions are subject to risks, uncertainties and changes which cannot be foreseen and which are beyond the control of CREALOGIX Holding AG. CREALOGIX Holding AG is therefore not in a position to make any representations as to the accuracy of economic projections and predictions or their impact on the financial situation of CREALOGIX Holding AG or the market in the securities of CREALOGIX Holding AG.

This document does not constitute an offer or invitation to subscribe for or purchase any securities. It is not being issued in countries where the public dissemination of the information contained herein may be restricted or prohibited by law. In particular, this document is not being issued in the United States of America and should not be distributed to U.S. persons or publications with a general circulation in the United States. Any non-compliance with such restrictions may result in an infringement of U.S. securities laws. Securities of CREALOGIX Holding AG (’COMPANY’) are not being publicly offered outside of Switzerland. In particular, the securities of the company have not been registered under the U.S. securities laws and may not be offered, sold or delivered within the United States or to U.S. persons absent the registration under or an applicable exemption from the registration requirements of the U.S. securities laws. This document does not constitute a prospectus according to article 652a or article 1156 of the Swiss code of obligations or article 27 et seq. of the SIX Swiss Exchange listing rules.


Investor Relations

Daniel Bader, Chief Financial Officer

E-Mail: daniel.bader@crealogix.com

Phone: +41 58 404 81 81

Media Relations

Jasmin Epp, Senior Group Communications Manager

E-Mail: jasmin.epp@crealogix.com

Phone: +41 58 404 86 52