October 24, 2016 6:02 AM ET


Company Overview of Temenos Group AG

Company Overview

Temenos Group AG, together with its subsidiaries, develops, markets, and sells integrated banking software systems to financial institutions worldwide. It offers core banking platform for financial institutions; analytics and reporting solutions; Front Office, an integrated, role-specific, and multi-channel solution that supports banks’ daily interactions and long term relationships with their retail, corporate, mass affluent, and UHNW customers; and breaking channels solutions, which enables its clients to deliver products and services for business line through self-service and assisted channels for bank staff and customers. The company also provides risk and compliance solutions that enabl...

2 Rue de L’Ecole-de-Chimie

Geneva,  1205


Founded in 1993

4,400 Employees


41 22 708 11 50


41 22 708 11 60

Key Executives for Temenos Group AG

Chief Executive Officer
Age: 47
Total Annual Compensation: $1.6M
Executive Chairman and Chairman of Nomination Committee
Age: 51
Total Annual Compensation: $1.2M
Compensation as of Fiscal Year 2015.

Temenos Group AG Key Developments

Temenos Announces Earnings Results for the Third Quarter of 2016; Provides Earnings Guidance for the Full Year of 2016

Temenos announced earnings results for the third quarter of 2016. For the quarter, cash flow continues to be strong with second quarter operating cash of $40 million, an increase of 8% year-over-year. The company continues to see strong growth across all revenue lines, with total revenues growing 9% in the quarter in constant currency and 22% over the last 12 months. This was reflected in profit, which had been growing 17% in constant currency. The decline in the LTM EBIT margin in second quarter is the exceptional comparative, which included a reversal of accrual -- of accrued variable cost in fourth quarter of 2014 due to weak sales performance. In the quarter, there was a negative impact on the revenues of around $2 million coming across various currencies, and an equal positive impact on cost of around $2 million in the quarter, coming mainly from the weakening of the pound. As such, there was no impact at the profit level. Like-for-like revenues are up 10%, including total software licensing growth of 6% against a comparative, which was up 44% on a like-for-like basis. The company increased an LTM net profit of 15% and an LTM EPS of USD 1.93, up 8%. The difference in the LTM net profit and tier growth is due to the increase in free dedicated share count, which is 71.5 million shares in third quarter of 2016 compared to 67.5 million in third quarter of 2015. Net debt is currently at $273 million, going into a leverage of 1.2x versus 2.1x in third quarter of 2015. For the full year, the company increased the guidance to reflect both the revenue growth and high level of revenue visibility the company have in the business, following the Bank of Ireland win. The company is guiding for full year total software licensing growth of 15% to 20%, up from 10% to 15%, and total revenue growth of 12.5% to 14.5%, up from 7.5% to 11%. Revised EBIT guidance is for $184 million to $186 million, up from $180 million to $185 million, which implies a freer margin of around 30%. The company continues to guide for a normalized tax rate of 17% to 18%. However, for the full year 2016, The company expects tax rate in line with 2015 as it continue to benefit from different tax assets.

Temenos Mulls Acquisitions

Temenos Group AG (SWX:TEMN) is looking for acquisitions. The company is actively monitor the market and has a large pipeline of possible target at various of engagement and intends to have three main areas of focus for those acquisitions. "These are to build scale, accelerate growth in specific markets and segments, also to acquire complementary products. We currently have more than $1 billion of funding available for M&A. It is important to note that we do employ a very disciplined approach to assessing potential targets with very strict financial criterias.", said, Max Chuard, Temenos' Chief Financial Officer & Chief Operation Officer.

Bank of Ireland Selects Temenos's UniversalSuite Platform

Temenos Group AG has confirmed that Bank of Ireland Group has selected UniversalSuite, its front-to-back solution for retail, commercial and corporate banking, to be implemented as Bank of Ireland's new core banking and channels platform. Bank of Ireland intends to use UniversalSuite's real-time analytics and integrated digital channels to deliver highly personalized and interactive customer experiences.

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