Company Announcement
SimCorp reports revenue growth of 8.5% and EBIT margin of 23.2% in 9M 2021
Other information
Significant risk and uncertainty factors
SimCorp operates in a dynamic and complex business environment, where performance relies
heavily on the ongoing achievement of a number of success criteria. Pages 24-26 of SimCorp’s
Annual Report 2020 describe the most important general risk factors and the risk management
measures applied in everyday operations. Management believes that the description of these
potential risks still pertains to the current situation.
Shareholder information
Restricted stock units
In Q3 2021, 36,082 restricted stock units were granted.
11,562 restricted stock units were granted to Christian Kromann in connection with his appointment
as CEO and 5,781 restricted stock units to Michael Rosenvold, CFO as part of a retention incentive.
The fair value of these restricted stock units amounted to DKK 10m and DKK 5m, in total DKK 15m
(EUR 2.0m) at the time of allotment. The value adjusted for dividends will be included in the income
statement over the vesting periods. The restricted stock units will vest 1/3 after 3 years, 1/3 after 4
years and 1/3 after 5 years conditional upon continued service and an increased investment in
SimCorp shares by Christian Kromann of DKK 5m, and by Michael Rosenvold of DKK 2.5m, both to
be completed by end of August 2023.
17,038 restricted stock units were granted for regional retention programs for senior employees in
EMEA, North America, and APAC. The fair value of these restricted stock units amounted to EUR
1.9m at the time of allotment. The value adjusted for dividends will be included in the income
statement over the vesting period of three years. The restricted stock units will vest after three years,
subject to continued employment. Furthermore, the restricted stock units are subject to conditions
with respect to average annual minimum business growth for the respective business units and to
annual average net operating profit after tax for the Group for the financial years 2021 to 2023. If the
two conditions are only partially satisfied, the number of shares transferred after three years will be
reduced, and may possibly lapse completely. Two of the senior employees left and 2,580 restricted
stock units were cancelled.
In addition, 1,466 restricted stock units related to LTIP 2021 were granted to Christian Kromann in
connection with his appointment as CEO, and 235 restricted stock units were granted to two other
employees as part of a retention program.
327,590 restricted stock units are outstanding at September 30, 2021. The restricted stock units will
be transferred in whole or in part between 2021 and 2026 to program participants still employed
when the stock units vest, some subject to performance conditions.
Holding of treasury shares
The Company purchased 111,945 treasury shares in Q3 2021 at an average price of DKK 836.61
per share, totaling EUR 12.6m. In total, the Company purchased 297,345 treasury shares in 9M 2021
at an average price of DKK 801.92 per share, totaling EUR 32.1m. In comparison, the Company
purchased 112,654 treasury shares at an average price of DKK 660.78 per share, totaling EUR
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