Result of Annual General Meeting and Directorate Changes

Wednesday, 30 December 2015

SimiGon, a global leader in providing simulation solutions, announces that at the Company's Annual General Meeting held earlier today all resolutions were duly passed.

Consequently, the Company announces that Mr. Ran Pappo and Mrs. Deborah M. Bitman have been appointed as External Directors of the Company to replace Mr. Nevat Simon and Dr. Vered Shany with immediate effect. Mr. Pappo is the Chief Executive Officer of Diva Hirschthal Ltd, a designer, manufacturer and distributor of swimwear and has many years of experience in marketing, finance and retail. Mrs. Bitman qualified from Indiana University with a Masters in Elementary Education and has since gained considerable experience on school improvement committees and school activities. Working as a director at the Jewish Academy of Orlando, she has great experience in school policy guidance, budget review, future plans, and creating and managing educational curriculum.

Enquiries:

SimiGon Ltd
Ami Vizer, Chief Executive Officer
Efi Manea, Chief Financial Officer
www.simigon.com

Tel: +1 (407) 951 5548

finnCap (NOMAD & Broker)
Stuart Andrews/Scott Mathieson (corporate finance)

Tel: +44 (0) 207 220 0500

The following information in relation to Mr. Pappo is disclosed in accordance with Schedule 2(g) of the AIM Rules for Companies.

Full name:         Ran Moshe Shlomo Pappo
Age:                 46
Shares held:      0

Directorships/partnerships held in the last five years:

Current
JS Group Srl.
Diva Hirschthal Ltd

Past
None

The following information in relation to Mrs. Bitman is disclosed in accordance with Schedule 2(g) of the AIM Rules for Companies.

Full name:         Deborah Michelle Bitman
Age:                 36
Shares held:      0

Directorships/partnerships held in the last five years:

Current
Jewish Academy of Orlando

Past
None


View complete announcement on London Stock Exchange Website

SimiGon awarded $4 million contract with Booz Allen Hamilton Engineering Services to provide the U.S. Air Force with software and support for the addition of multiple T-6 simulators.

Monday, 7 December 2015

SimiGon, Inc. (LSE: SIM), a global leader in modelling, simulation & training solutions, is pleased to announce that it has been awarded a $4 million contract with Booz Allen Hamilton Engineering Services, LLC ("Booz Allen ES") to provide the U.S. Air Force with support and software for the addition of multiple T-6 simulators for the Remote Piloted Aircraft ("RPA") training simulators ("the Contract").

The initial funding of the Contract is $0.92 million and it includes the procurement of the SIMbox software technology, T-6 model content and integration for six newly fabricated RPA training simulators. The expected revenue contribution from this Contract was already factored into management's expectations for the year ended 31 December 2015. It also expects to contribute to improved revenue visibility for FY 2016 and beyond.

Booz Allen ES is a wholly-owned subsidiary of Booz Allen Hamilton Inc, who provides management consulting, technology and engineering services to the U.S. government and major corporations. This Contract with Booz Allen ES was established based on SimiGon's advanced simulation & training solutions together with the successful execution of SimiGon's original contract to deliver the first ten SIMbox based T-6A training systems to the U.S. Air Force, as announced in September 2011. The SIMbox Modular Training Devices simulators are used to train undergraduate RPA students for Pilot Instrument training.

SimiGon continues its successful entry into the T-6 training market, solidifying its market leading offering and positioning the Company for similar opportunities globally as the T-6A and T-6B are used as basic trainers in militaries around the globe.

SimiGon President & CEO, Ami Vizer, said: "This Contract further strengthens our position of working with valuable global partners as a supplier of choice in the provision of simulation training solutions while, at the same time, demonstrating that SimiGon has the capability to develop and support the unmanned aircraft training sector which is a rapidly growing segment worldwide. We are excited to be awarded this Contract which was founded on executing delivery and performance of our systems as a prime contractor for the U.S. Air Force since September 2011."

View complete announcement on London Stock Exchange Website

Notice of AGM

Wednesday, 25 November 2015

SimiGon today announces that the Annual General Meeting of the Company is to be held at 9:00 a.m. Eastern Standard Time (2:00 p.m. GMT) on Wednesday 30 December 2015 at 7001 University Blvd. Winter Park, FL 32792, USA (the "Meeting").

The Notice of Annual General Meeting (the "Notice") will be mailed to shareholders at the close of business on Wednesday, 2 December, 2015 and an electronic copy of the Notice of Annual General Meeting is available at the Company's website.

A shareholder, who would like to attend the meeting in person or join via conference call using the dial-in details below, should follow the instructions as specified in the Notice of Annual General Meeting.

International dial-in number: +1 712 432 1620

Access code: 888780#


Interim Results for the six months ended 30 June 2015

Monday, 7 September 2015

Growth in net profit by 18% YoY to $0.79 million and EPS of $0.02

SimiGon Ltd, a global leader in providing simulation solutions, announces its interim results for the six months ended 30 June 2015.  

Financial Highlights

Operational Highlights

New major awards:

Delivering on long term contracts:

Post period-end event

Ami Vizer, Chief Executive Officer of SimiGon, said: "Our strategy is progressing and I am pleased to report that SimiGon has delivered a profitable first half. SimiGon is expanding into new technologies, markets and services to transition into a leading contractor for major, long term simulation training programmes.

"SimiGon's revenue visibility is solid, based on our long term contracts and backlog. We will continue to leverage our global footprint to build new partnerships, expand our customer base, and target larger programmes. SimiGon's Board enters the second half with confidence of delivering continued year-on-year growth for 2015."

Enquiries:

SimiGon Ltd
Ami Vizer, Chief Executive Officer
Efi Manea, Chief Financial Officer

Tel: +1 (407) 951 5548

finnCap (NOMAD & Broker)
Stuart Andrews/Scott Mathieson (corporate finance)

Tel: +44 (0) 207 220 0500

Overview

SimiGon is pleased to report another period of increased profitability as a result of recurring revenues from existing strategic partners. SimiGon recorded net profit of $0.79 million as compared to $0.67 million in H1 2014 and revenues of $3.46 million in the first half of 2015 (H1 2014: $4.37 million). Revenues declined from the first half of last year principally as a result of the Company's revenue recognition policy with respect to its long term contracts and the Board expects to record correspondingly higher revenues for the second half of the year albeit with the associated costs associated with that revenue.

SimiGon continued to improve its position as a technology and services provider for large simulation training programs in the first half of 2015. The Company is a key supplier of training and simulation technologies for the world's largest military flight training programmes while achieving further growth into vertical markets such as military and civil aviation training.

SimiGon's ability to capture a share of the largest global simulation and training projects has enabled us to increase the strategic business scope and potential revenue. Among these initiatives is competing as a prime contractor for multiple government contracts in the defence sector. As a prime contractor, aside from larger contracts, by interfacing directly with the customer, the Company has another opportunity to build a long term relationship with the end user and advance its technological capabilities.

The Company continues to develop its partnership in the Chinese civil aviation market with multiple opportunities on the horizon for military and civilian pilot training services and it will continue to pursue this area more aggressively in the future.

SimiGon's market position as a preferred supplier for simulation and training technologies and solutions has been strengthened by our recent work. The Company continues to focus on developing further strategic programs that will assist its long term growth. SimiGon's growth strategy along with the revenue mix of new contracts and support contracts, provide the Company with the confidence that it is well positioned for immediate and long term growth and the tools are in place to build a larger business.

Operational Review

SimiGon is delivering on all of its major contracts, a key focus for the Company in the first half of 2015. The ability to successfully deliver sizable programmes has enhanced the Company's position as a provider of advanced simulation training solutions. In addition, the first half saw SimiGon expand its geographic footprint as it focused on the growing civil aviation market whilst also maintaining its existing customer base.

Delivery of major contract as prime contractor

SimiGon announced in June 2013 that it had signed a contract valued at $6.7 million for a major training program. This was a milestone contract for the Company in terms of the geographic region, the contract value and the programme scope.

SimiGon is delivering its training systems and meeting its contracted key milestones. The Company expects that its strong performance will put it in a good position to be selected for potential subsequent phases of the programme.

Expansion into civil aviation market

In June, SimiGon entered the Latin American civil aviation market by establishing a subsidiary incorporated in Colombia (the "Subsidiary").

SimiGon's move into the civil aviation market has been a long term strategic goal for the Company and with the fast growing Latin American aviation market, the Subsidiary provides an ideal platform for SimiGon to enter this attractive growth sector and region.

New contract wins

In May 2015 SimiGon was awarded a five year Contractor Logistics Support ("CLS") contract by the U.S. Air Force Air Education Training Command ("AETC") to support and maintain all of the T-6A training simulators used in the training of all Remote Piloted Aircraft ("RPA") students. The first year base value of the contract is $0.33 million with a total contract value of $1.66 million over an expected period of five years.

This contract builds on the successful delivery and performance of SimiGon provided systems as a prime contractor for the U.S. Air Force since September 2011. It strengthens the Company's position as a supplier of choice in the provision of simulation training solutions while, at the same time, demonstrating that SimiGon has the capability to develop and support the unmanned aircraft training sector which is a rapidly growing segment worldwide.

As announced in June 2015, SimiGon signed a new technical support agreement to provide Corporacion de Alta Tecnologia para la Defensa (Codaltec), a leading Colombian high technology corporation. Subsequent to the successful delivery and performance of SimiGon's systems and additional SimiGon software licenses purchases announced September 2014, SimiGon will deliver under this contract, additional technical support services, as part of an industrial offset agreement.

Codaltec was formed in August 2012 by the Colombian government to meet the defense sector's needs, including training and simulation. Being one of the largest and most successful groups utilizing SimiGon's SIMbox training and simulation software platform, Codaltec is considered a highly valued strategic partner for SimiGon.

Long term contracts

The Company has a growing portfolio of long term partnerships that continue to develop into further business and provide good revenue visibility. Many of these partnerships are expected to continue with additional purchases through 2015 and beyond.

The Company is now in its seventh year of supporting Lockheed Martin's JSF training program. Additional licenses and ongoing maintenance support agreements are part of the ongoing, long term partnership.

SimiGon is now in its sixth year supporting the UK Military Flying Training System. The Company continues to deliver under this long term contract, exceeding partner and customer expectations of SimiGon's technologies and their performance.

SimiGon's partnership with Check-6 Inc., one of the leading providers of training solutions to the energy and mining industries, is also blossoming into long term, recurring revenue. Throughout this contract, SimiGon has successfully executed against its agreed deliverables. As a result, the Company is expecting this partnership to be extended with additional agreements. 

The maintenance and support contract from the USAF for the SIMbox based T-6A Modular Training Devices SimiGon delivered as part of a June 2011 contract demonstrates the long term nature of the relationship with this strategic customer. SimiGon expects this relationship to continue to evolve.

SimiGon maintains its close relationship with a major existing European customer that it has been working with since 2009. SimiGon's technology is now being operated on a daily bases in 3 different training centers and is receiving high customer satisfaction reviews. SimiGon is confident that this relationship will continue and lead to additional orders in the future. 

SimiGon continues to provide successful solutions for Unmanned Aerial Vehicle (UAV) training for a leading provider in the small tactical unmanned aircraft systems. Through SimiGon's ecosystem of partners worldwide, the Company's technology is used to support initial operator training in classrooms as well as advanced operational training. SimiGon continues to increase its footprint in the fast growing UAV market.

Financial Performance 

For the reasons set out above revenues for the six months ended 30 June 2015 were $3.46 million as compared to $4.37 million for the six months ended 30 June 2014. Gross profit for the six months ended 30 June 2015 was $2.59 million, as compared to $3.21 million for the six months ended 30 June 2014. Accordingly, gross margins increase to 75% for the six months ended 30 June 2015 as compared to 73% for the six months ended 30 June 2014.

Net profit for the six months ended 30 June 2015 improved by 18% to $0.79 million as compared to $0.67 million for the six months ended 30 June 2014.

Total operating expenses for the six months ended 30 June 2015 decreased by 29% to $1.8 million (H1 2014: $2.53 million). Research and development expenses for the six months ended 30 June 2015 decrease by 35% to $0.74 million as compared to $1.13 million for the six months ended 30 June 2014, mainly due salary expenses. Marketing expenses for the six months ended 30 June 2015 decreased by 31% to $0.57 million as compared to $0.83 million for the six months ended 30 June 2014 mainly due salary expenses and consultants fees and general and administration expenses for the six months ended 30 June 2015 decrease by 15% to $0.49 million as compared to $0.58 million the six months ended 30 June 2014 mainly due to the collection of debts for which provisions for doubtful debts were recorded in prior period.

As a consequence of the factors above operating profit for the six months ended 30 June 2015 amounted to $0.79 million, improving upon the performance for the six months ended 30 June 2014. This resulted in a net basic and diluted earnings per share of $0.02 (H1 2014: Basic and diluted earnings per share of $0.01).

Cash on the balance sheet reduced marginally as a result of the dividend payment and a significant increase in the receivables balance over the balance sheet date which is expected to be received during the second half of the year.

In light of the strong cash position and further to the Company's declared intention to pay an annual dividend announced under its full year financial results, a dividend of 0.6 cents per share, equating to approximately 22% of the Company's earnings per share was paid to shareholders on May 29, 2015.

Outlook

SimiGon continued to cement its position as a prime contractor for major, long term simulation training programmes during the period, expanded into new territories and diversified its offering. As a result of achieving the milestones set in its growth strategy, the Company continues to deliver growth in profitability.

SimiGon has strong future revenue visibility based on its long term contracts and forward order book. As a result, the Board enters the second half with confidence of delivering continued year-on year growth for the full year 2015.

View complete announcement on London Stock Exchange Website

Notice of Results

Monday, 17 August 2015

SimiGon, a global leader in providing simulation solutions, will announce the Company's interim results for the six months ended 30 June 2015 on Monday, 7 September 2015.

View complete announcement on London Stock Exchange Website

SimiGon awarded additional contract from a leading unmanned aircraft systems provider

Wednesday, 12 August 2015

SimiGon (LSE: SIM), a global leader in providing simulation training solutions, is pleased to announce that it has been awarded an additional contract from a leading provider in the small tactical Unmanned Aircraft Systems ("UAS") market. SimiGon supplies the underlying training system technology for the UAS program.

Due to the successful historical performance of SimiGon's systems, the Company will deliver additional licenses with annual maintenance and support for a period of 3 years under the new contract. The value of the contract is $0.8 million and the revenue contribution from this contract was already factored into management's expectations for the year ended 31 December 2015. It will also contribute to improved revenue visibility for FY 2016 and beyond.

This latest contract award demonstrates SimiGon's ability to provide successful training solutions and highlights the Company's growing footprint in the UAS market. The Company continues to improve its position as a technology and services provider for large simulation training programs. Through SimiGon's ecosystem of worldwide partners, the Company's technology is used to support initial operator training in classrooms as well as advanced operational training.

SimiGon President & CEO, Ami Vizer, said, "We are proud to continue our partnership with this strategic client. The continued selection of SIMbox shows the confidence our partner has in our advanced training solutions. This contract demonstrates to the market SimiGon's capability to support the UAS training sector, a rapidly growing segment worldwide."

View complete announcement on London Stock Exchange Website

SimiGon signs industrial offset contract to support leading Latin American training and simulation group

Wednesday, 17 June 2015

SimiGon (LSE: SIM), a global leader in providing simulation training solutions, is pleased to announce that is has signed a new technical support agreement to provide Corporacion de Alta Tecnologia para la Defensa (Codaltec), a leading Colombian high technology corporation. This is an additional endorsement of SimiGon's capabilities and technological ecosystem.

Codaltec was formed in August 2012 by the Colombian government to meet the defense sector's needs, including training and simulation. SimiGon provided the new corporation with its SIMbox training and simulation technology platform. Subsequent to the successful delivery and performance of SimiGon's systems and additional SimiGon software licenses purchases announced September 2014, SimiGon will deliver under this contract, additional technical support services, as part of an industrial offset agreement. The value of this contract was already factored into management's expectations for the year ended 31 December 2015.

Codaltec is partially owned by the Colombian Government and provides advanced training and simulation systems for their armed forces, among other high-tech projects it is currently working on. Codaltec is one of the largest and most successful groups utilizing SimiGon's SIMbox training and simulation software platform.

Julio Gonzalez, Codaltec's Chief Executive Officer, stated: "This support contract will help us achieve our mission to deliver the most advanced training systems for our armed forces. SimiGon's team working closely with our engineers will ensure our short term and long term success."

SimiGon President and CEO, Ami Vizer, said, "We are proud to continue our partnership with Codaltec to support project development and end user deliveries of SIMbox-based training systems. It is another endorsement and milestone from a highly valued strategic partner that SimiGon looks forward to continuing to work with for many years."

View complete announcement on London Stock Exchange Website

Posting of Annual Report and Accounts

Monday, 15 June 2015

SimiGon announces that its Annual Report and Accounts for the year ended 31 December 2014 has today been posted to shareholders. An electronic copy of the Annual Report and Accounts is also available on the Company's website:
SimiGon 2014 Annual Report

View complete announcement on London Stock Exchange Website

Holdings in Company

Tuesday, 26 May 2015

View complete announcement on London Stock Exchange Website

Issue of Equity

Thursday, 21 May 2015

SimiGon announces that, as part of ongoing initiatives to incentivise and reward its key employees and further to the Board approval, it has issued and made application for 285,000 new ordinary shares of 0.01 NIS each in the Company ("Ordinary Shares") to be admitted to trading on AIM ("Admission").

The new Ordinary Shares will rank pari passu with the Company's existing Ordinary Shares and Admission is expected to become effective on May 28, 2015. Following this issue of new Ordinary Shares, the Company will have 50,993,154 Ordinary Shares in issue and holds none in treasury. Accordingly, the total number of voting rights in the Company is 50,993,154.

View complete announcement on London Stock Exchange Website

Holdings in Company

Wednesday, 20 May 2015

View complete announcement on London Stock Exchange Website

SimiGon awarded 5 year T-6 Simulator logistics support contract from US Air Force

Tuesday, 05 May 2015

SimiGon, Inc. (LSE: SIM), a global leader in modeling, simulation & training solutions, is pleased to announce that it has been awarded a five year Contractor Logistics Support ("CLS") contract by the U.S. Air Force Air Education Training Command ("AETC") to support and maintain all of the T-6A training simulators used in the training of all Remote Piloted Aircraft ("RPA") students.

The first year base value of the contract is $0.33 million with a total contract value of $1.66 million over an expected period of five years. The revenue contribution from this contract was already factored into management's expectations for the year ended 31 December 2015. It will also contribute to improved revenue visibility for FY 2016 and beyond.

This contract is an extension on our original contract announced in September 2011, when SimiGon were selected as the prime contractor and successfully delivered its SIMbox based T-6A training systems. The SIMbox Modular Training Devices simulators are used to train undergraduate RPA students for Pilot Instrument Qualification training.

SimiGon's successful entry into the T-6 training market solidified its market leading offering and positions the Company for similar opportunities globally as the T-6A and T-6B are used as basic trainers in militaries around the globe.

SimiGon President & CEO, Ami Vizer, said: "We are excited to be awarded this contract which builds on executing delivery and performance of our systems as a prime contractor for the U.S. Air Force since September 2011. This contract further strengthens our position of working with valuable global partners as a supplier of choice in the provision of simulation training solutions while, at the same time, demonstrating that SimiGon has the capability to develop and support the unmanned aircraft training sector which is a rapidly growing segment worldwide."

View complete announcement on London Stock Exchange Website

Exercise of Options

Monday, 27 April 2015

The Company announces that, further to the exercise of options by Mr. Ami Vizer (director and chief executive officer of the Company), application has been made for 600,270 new ordinary shares of 0.01 NIS each in the Company ("Ordinary Shares") to be admitted to trading on AIM ("Admission").

Pursuant to the issue of the new Ordinary Shares, Mr. Ami Vizer has a beneficial interest in 11,064,454 Ordinary Shares, representing 21.8 per cent. of the total issued share capital of the Company.

The new Ordinary Shares will rank pari passu with the Company's existing Ordinary Shares and Admission is expected to become effective on 1 May 2015. Following this issue of new Ordinary Shares, the Company has 50,708,154 Ordinary Shares in issue and holds none in treasury. Accordingly, the total number of voting rights in the Company is 50,708,154.

View complete announcement on London Stock Exchange Website

Exercise of Options

Thursday, 16 April 2015

The Company announces that application has been made for 25,000 new ordinary shares of 0.01 NIS each in the Company ("Ordinary Shares") to be admitted to trading on AIM ("Admission"). The new Ordinary Shares are being issued pursuant to the exercise of options by a former employee. The new Ordinary Shares will rank pari passu with the Company's existing Ordinary Shares and Admission is expected to become effective on 21 April 2015.

Following this issue of new Ordinary Shares, the Company will have 50,107,884 Ordinary Shares in issue. The Company holds no Ordinary Shares in treasury. Accordingly, the total number of voting rights in the Company is 50,107,884.

View complete announcement on London Stock Exchange Website

Audited full year results and annual dividend declaration

Monday, 13 April 2015

SimiGon, a global leader in providing simulation solutions, is pleased to announce its audited full year results for the year ended 31 December 2014.

Financial Highlights

Operational Highlights

New major awards:

Delivering on all long term contracts:

Ami Vizer, Chief Executive Officer of SimiGon, stated: "We are delighted to announce another year of strong growth in profitability and increased revenue as a result of achieving milestones set out in our growth strategy. SimiGon has continued to expand into new territories, secure significant new contracts and further cement its role as a prime contractor as it continues to provide a highly valued solution to our customers. Generating sales from the successful delivery of key projects and winning new strategic contracts, we are very pleased with our strong performance in 2014

"Looking ahead, we will continue to leverage our leading position and our improved global footprint to build new partnerships, expand our customer base, and target even larger contracts. SimiGon has excellent revenue visibility based on our long term contracts and a strong order book in place. As a result the board enters 2015 with increased confidence in delivering continued year-on-year growth and viewing the future with confidence as demonstrated by the Company's continued annual dividend distribution."

Enquiries:

SimiGon Ltd
Ami Vizer, Chief Executive Officer
Efi Manea, Chief Financial Officer

Tel: +1 (407) 951 5548

finnCap (NOMAD & Broker)
Stuart Andrews/Charlotte Stranner (corporate finance)

Tel: +44 (0) 207 220 0500


Overview

SimiGon is pleased to report another year of strong growth in profitability and increased revenue, both as a result of new business being won within the period and an increase in recurring revenues from existing strategic partners. The Company's net profit increased by 51% to $1.36 million (2013: $0.9 million) and revenues increased by 2% to $8.32 million as compared to $8.17 million in 2013.

SimiGon's ability to capture a share of the largest global simulation and training projects has enabled the Company to increase its strategic business scope and potential revenue. Chief among these initiatives is competing as a prime contractor for multiple government contracts in the defence sector. As a prime contractor, aside from larger contracts, by interfacing directly with the customer, the Company has another opportunity to build a long term relationship with the end user.

SimiGon has a blossoming partnership in the Chinese civil aviation market and as well as seeing multiple opportunities on the horizon for military and civilian pilot training services, the Company is inclined to pursue this area more aggressively in the future.

As stated at the time of the interim results, the Company delivered a strong performance for 2014 and has a bedrock foundation for 2015 and beyond. Our market position as a preferred supplier for simulation and training technologies and solutions has been solidified by our work this past year.

The revenue mix of new contracts and support contracts, along with a growth strategy, means that the tools are in place to build a larger business. The Company believes it is well positioned for immediate and long term growth.

SimiGon continues to focus on developing further strategic programs that will assist the Company's long term growth. Our ability to grow business and bolster our strong financials is demonstrated by greater revenue visibility and our robust pipeline of new opportunities for 2015 and beyond.

Operational Review

During the year, SimiGon strengthened its position as the provider of choice for large simulation training programs. The Company continues to be a leading supplier of training and simulation technologies for the world's largest military flight training programmes while expanding into vertical markets such as military and civil aviation training. In positioning itself as a prime contractor for major, long term simulation training and services programmes, SimiGon's market reach has expanded to new areas while its technologies continue to lead the industry.

As a prime contractor, SimiGon benefits from a direct relationship with the customer which gives us increased visibility of the market and long term revenues while affording valuable insight into new and potentially significantly larger opportunities. This places SimiGon in the spotlight for some of the industry's largest simulation training contracts with the Company now targeting programs far larger than had previously been possible.

SimiGon has enhanced its prospects for securing new contracts by further diversifying its training products and services by entering new markets, such as the rapidly growing civil aviation market in China.

Major Training systems deliveries as prime contractor

SimiGon is currently fulfilling training system deliveries milestones under the $6.7 million contract announced in June 2013. This contract was a milestone contract for the Company in terms of the value of the order and the location.

The Company expects that its performance under this contract will lead to subsequent contracts with the customer.

Expanding into civil aviation market

SimiGon announced in February 2014 that it had successfully entered the civil aviation training services market with a joint venture (JV) agreement with a leading Chinese aviation services company. The initial contract valued at $0.75 million, will provide the new entity with SimiGon's SIMbox technology for developing its training solutions.

SimiGon has identified the civil aviation market as a long term growth driver. With China's well known burgeoning civilian aviation market, this JV is an ideal entry point for SimiGon in this attractive sector and region.

New major contracts

SimiGon signed a new license agreement with Corporacion de Alta Tecnologia para la Defensa (Codaltec), a leading Latin American high-technology corporation, as announced in September 2014. Codaltec was formed in August 2012 by the Colombian Government to meet the defense sector's needs, including training and simulation for her armed forces.

Codaltec has agreed to extend its original agreement with SimiGon and purchase additional software licenses to support its numerous training programs. The partnership is evidence of how companies adopt SimiGon's technology to rapidly develop and deliver a higher quality training and simulation solution for their customers. It is another significant endorsement for SimiGon and a milestone in this growing relationship.

SimiGon strengthened its relationship with a major European customer in August 2014 when it announced a three year agreement valued at $0.8 million to provide additional maintenance and support services for the customer's simulation training centers.

Long term contracts

The Company has a growing portfolio of long term partnerships that continue to blossom into further business and provide good revenue visibility. Many of these partnerships are expected to continue with additional purchases in 2015.

The Company is now in its seventh year of supporting Lockheed Martin's JSF training program. Additional licenses and ongoing maintenance support agreements are part of the ongoing, long term partnership.

SimiGon is now in its sixth year supporting the UK Military Flying Training System. The Company continues to deliver under this long term contract, exceeding partner and customer expectations of SimiGon's technologies and their performance.

SimiGon's partnership with Check-6 Inc., one of the leading providers of training solutions to the energy and mining industries, is also blossoming into long term, recurring revenue. Throughout this contract, SimiGon has successfully executed against its agreed deliverables. As a result, the Company is confident the partnership will be extended with additional agreements.

In October 2014, SimiGon secured maintenance and support contract from the USAF for the SIMbox based T-6A Modular Training Devices it delivered as part of a June 2011 contract. This support contract demonstrates the long term nature of the relationship with this strategic customer. SimiGon expects this relationship to continue to evolve.

SimiGon maintains its close relationship with a major existing European customer that it has been working with since 2009. Following additional orders, received during 2014, the Company is confident that this relationship will continue and lead to additional orders in the future.

Annual dividend declaration

In light of the strong cash position and further to the Company's declared intention to pay an annual dividend, the Board intends to pay a dividend of 0.6 cents per share, equating to approximately 22% of the Company's earnings per share. The dividend will be payable on Friday, 29 May 2015. The record date of payment of the dividend will be Friday, 8 May 2015. The ex-dividend date will be Thursday, 7 May 2015.

In line with the Israeli tax ordinance and regulations, the dividend payment will be subject to 25% withholding at source unless reduced by a relevant tax treaty.

In this regard, shareholders, who have a tax withholding exemption or reduced withholding tax rate from dividend payments obtained from by Israeli Tax Authorities, should present and deliver it to the Company, together with the contact details of their stock broker, no later than the end of the business day of Wednesday, 6 May 2015.

Financial Performance

Revenue for the year ended 31 December 2014 was $8.32 million, compared to $8.17 million in 2013, an increase of 2%. In terms of regional breakdown, 50% of SimiGon's revenues came from North America (2013: 62%), 14% from Europe and the Middle East (2013: 17%) and 36% from the Far East (2013: 21%).

Net profit for the fiscal year increased by 51% to $1.36 million (2013: profit of $0.90 million).

Total operating expenses for the year decreased by 2% to $5.02 million (2013: $5.10 million). Research and development expenses were $2.38 million (2013: $2.40 million) reflecting SimiGon's continued investment in its product development. Sales and marketing expenses decreased by 12% to $1.46 million (2013: $1.65 million) mainly due to a decrease in salary and related benefits expenses and general and administration expenses increased to $1.18 million (2013: $1.05 million) mainly due to professional fees.

The operating profit therefore is $1.31 million (2013: $1.0 million) and the net profit is $1.36 million (2013: $0.9 million). This resulted in an increase in net basic and diluted earnings per share of $0.03 (2013: $0.02).

Outlook

SimiGon has cemented its position as a prime contractor for major, long term simulation training programmes, expanded into new territories and diversified its offering. As a result of achieving milestones set in its growth strategy, the Company continues to deliver strong growth in profitability and increased revenue.

With excellent revenue visibility as a result of our long term contracts and a strong forward order book, the board enters the current financial year with increased confidence in delivering continued year-on-year growth as demonstrated by the Company's continued annual dividend distribution".

View complete announcement on London Stock Exchange Website


Notice of Results

Wednesday, 25 March 2015

SimiGon, a global leader in providing simulation solutions, will announce its preliminary results for the year ended 31 December 2014 on Monday, 13 April 2015.

View complete announcement on London Stock Exchange Website


Trading and Business Update

Tuesday, 10 February 2015

SimiGon (LSE: SIM), a global leader in providing simulation training solutions, is pleased to provide an update on trading and business performance for the year ended 31 December 2014.

The Company is pleased to report that it continued to trade well during the year ended 31 December 2014 ("the period") and that it expects to report a significant increase in profits compared to the prior financial year. The Company's balance sheet remains strong with over $9m of liquid cash at 31 December 2014.

During the period the Company successfully continued to improve its position as a leading supplier of training and simulation technologies for the world's largest military flight training programmes. This included cementing its position as a prime contractor for major, long term simulation training programmes, expanding into new territories and diversifying its product capabilities. Furthermore, the Company has continued to meet project milestones for long term contracts on time and on budget, executing delivery and performance of its systems including delivering on project milestones on the $6.7 million contract awarded in June 2013.

SimiGon President & CEO, Ami Vizer, said: "We are pleased to report that our strong performance continued during 2014. We continue to strengthen our position working with valuable global partners as a supplier of choice in the provision of simulation training solutions. We continue to focus on strategic long term contracts, providing SimiGon the ability to maintain and grow its strong financial position whilst achieving visibility of revenues and a robust pipeline of new opportunities which gives us great confidence for 2015 and beyond."

View complete announcement on London Stock Exchange Website


Exercise of Options

Wednesday, 21 January 2015

The Company announces that application has been made for 3,194 new ordinary shares of 0.01 NIS each in the Company ("Ordinary Shares") to be admitted to trading on AIM ("Admission"). The new Ordinary Shares are being issued pursuant to the exercise of options by a former employee. The new Ordinary Shares will rank pari passu with the Company's existing Ordinary Shares and Admission is expected to become effective on 27 January 2015.

Following this issue of new Ordinary Shares, the Company will have 50,082,884 Ordinary Shares in issue. The Company holds no Ordinary Shares in treasury. Accordingly, the total number of voting rights in the Company is 50,082,884.

View complete announcement on London Stock Exchange Website


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