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USU achieves additional document quarter and specifies steerage for 2022

EQS-Information: USU Software program AG / Key phrase(s): Quarter Outcomes/9 Month figures
USU Software program AG: USU achieves additional document quarter and specifies steerage for 2022
24.11.2022 / 09:00 CET/CEST
The issuer is solely chargeable for the content material of this announcement.

  • Gross sales progress of 16.6% in Q3 2022

  • Worldwide gross sales up 53.5% in Q3 2022

  • USU will increase EBITDA by 18.9% in Q3 2022

  • Figures for the primary 9 months affirm profitable enterprise efficiency

  • Recurring income accounts for 31.3% of consolidated gross sales and over 40% of recent product enterprise in first 9 months

  • Liquidity climbs 13.4% year-on-year regardless of dividend cost

  • Orders readily available up 14.2% year-on-year

  • Administration Board specifies gross sales and earnings steerage for 2022

Following on from the profitable first half of the 12 months, USU Software program and its subsidiaries (hereinafter additionally known as the “USU Group” or “USU”) additional accelerated their progress momentum within the third quarter of 2022. USU thus elevated its consolidated gross sales by 16.6% year-on-year to EUR 32.6 million within the third quarter of 2022 (Q3 2021: EUR 27.9 million). Specifically, USU benefited from booming worldwide enterprise, whereas home enterprise additionally continued to develop. Following the dip in progress brought on by the coronavirus pandemic, USU generated numerous license and SaaS orders outdoors Germany, that means that gross sales generated outdoors Germany elevated by 53.5% year-on-year to EUR 8.6 million (Q3 2021: EUR 5.6 million ). Accordingly, the proportion of gross sales attributable to worldwide enterprise rose from 20.1% in the identical interval of the earlier 12 months to 26.4% within the third quarter of 2022. Because of this USU has returned to its progress path outdoors Germany in a focused method. On the similar time, gross sales in USU’s dwelling market of Germany elevated by 7.4% to EUR 24.0 million in Q3 2022 (Q3 2021: EUR 22.3 million).
No matter the shift from one-time license enterprise towards software-as-a-service (SaaS) enterprise, the USU Group once more recorded a pointy rise in license income due to numerous new and follow-up orders. License income noticed above-average progress of 32.6% to EUR 4.0 million within the third quarter of 2022 (Q3 2021: EUR 3.0 million). On the similar time, SaaS gross sales loved even stronger progress of 35.6% year-on-year to EUR 3.7 million in Q3 2022 (Q3 2021: EUR 2.8 million). Amongst different issues, it’s because recurring income now accounts for greater than 40% of recent contracts and new product enterprise. Accordingly, upkeep gross sales additionally elevated by 8.2% year-on-year to EUR 6.5 million within the third quarter of 2022 (Q3 2021: EUR 6.0 million), that means that complete recurring income rose by 16.8% to EUR 10.2 million (Q3 2021: EUR 8.8 million). In the identical interval, USU’s consulting gross sales elevated by 16.8% year-on-year to EUR 18.4 million (Q3 2021: EUR 15.8 million).
In the meantime, the associated fee base of the USU Group elevated by 15.6% to EUR 29.8 million (Q3 2021: EUR 25.8 million). As prices rose to a lesser extent than gross sales, nevertheless, USU considerably improved its working earnings efficiency as soon as once more within the third quarter of 2022. Accordingly, the USU Group elevated its earnings earlier than curiosity, taxes, depreciation and amortization (EBITDA) by 18.9% year-on-year to EUR 4.4 million within the reporting quarter (Q3 2021: EUR 3.7 million). Together with depreciation and amortization of EUR 1.2 million (Q3 2021: EUR 1.2 million), earnings earlier than curiosity and taxes (EBIT) amounted to EUR 3.2 million (Q3 2021: EUR 2.5 million). This corresponds to a year-on-year improve in EBIT of 27.1%.
Web finance prices amounted to EUR 0.1 million within the third quarter of 2022 (Q3 2021: EUR 0 million) and primarily resulted from alternate fee good points. As a result of rise in income and detrimental results from deferred taxes, earnings taxes amounted to EUR 1.1 million within the third quarter of 2022 after EUR 0.2 million within the third quarter of 2021. All in all, USU’s consolidated earnings fell by 4.5% year- on-year to EUR 2.2 million within the third quarter of 2022 (Q3 2021: EUR 2.3 million). With a mean of 10,523,770 shares excellent, this interprets to earnings per share of EUR 0.21 (Q3 2021: EUR 0.22).

The USU Group additionally loved extraordinarily optimistic working efficiency within the first 9 months of the 12 months. Within the first three quarters of 2022, USU elevated its consolidated gross sales by 13.5% year-on-year to EUR 92.9 million (Q1-Q3 2021: EUR 81.9 million). Because of extraordinarily sturdy worldwide enterprise within the third quarter of 2022, consolidated gross sales generated overseas noticed above-average progress of 15.0% to EUR 22.0 million within the first 9 months of the 12 months (Q1-Q3 2021: EUR 19.1 million), thereby returning to obviously optimistic efficiency. Accordingly, the proportion of USU’s consolidated gross sales attributable to worldwide enterprise additionally elevated once more, from 23.4% within the first 9 months of 2021 to 23.7% within the first 9 months of 2022. On the similar time, the USU Group additionally elevated its gross sales in Germany by 13.0% to EUR 70.9 million (Q1-Q3 2021: EUR 62.7 million).
Damaged down by gross sales sort, USU recorded a very excessive year-on-year improve in SaaS gross sales of 32.3% to EUR 10.4 million due to the brand new orders acquired and the present orders readily available (Q1-Q3 2021: EUR 7.9 million). No matter the pattern in direction of cloud enterprise, USU once more benefited from the renewed progress in license and upkeep enterprise within the present 12 months. With the variety of licenses agreed growing, upkeep gross sales rose by 6.9% year-on-year to EUR 18.7 million (Q1-Q3 2021: EUR 17.5 million). USU thus elevated its recurring income by 14.8% year-on-year to EUR 29.1 million within the first 9 months of the 12 months (Q1-Q3 2021: EUR 25.4 million), that means that the share of complete gross sales attributable to recurring income rose from 31.0% within the earlier 12 months to 31.3% within the reporting interval. On the similar time, USU elevated its license income by 25.6% to EUR 9.8 million within the reporting interval due to quite a few on-premises orders (Q1-Q3 2021: EUR 7.8 million). USU’s consulting gross sales additionally rose by 11.5% year-on-year to EUR 53.2 million within the first 9 months of 2022 due to the sustained digitization pattern (Q1-Q3 2021: EUR 47.8 million).
The USU Group’s working price base elevated by 12.3% year-on-year to EUR 85.4 million within the first 9 months of fiscal 2022 (Q1-Q3 2021: EUR 76.1 million). Specifically, this displays the workforce growth to 755 staff (September 30, 2021: 750 staff) and the upper prices ensuing from the elevated use of freelancers and companions in reference to the enterprise progress. Working prices additionally embody prices for the implementation of the One USU technique. USU has now concentrated its gross sales and advertising actions beneath the central “USU” model. Corresponding actions have additionally been initiated within the areas of consulting and analysis and improvement.
On account of the enterprise progress and the above-average improve in high-margin SaaS and license income, the USU Group additionally improved its working profitability within the first three quarters of 2022 as forecast. USU’s EBITDA thus elevated by 12.6% to EUR 11.7 million in contrast with the primary 9 months of 2021 (Q1-Q3 2021: EUR 10.4 million). The EBITDA margin remained basically unchanged at 12.6% (Q1-Q3 2021: 12.7%). Together with depreciation and amortization totaling EUR 3.5 million (Q1-Q3 2021: EUR 3.5 million), USU generated EBIT of EUR 8.2 million in Q1-Q3 2022 (Q1-Q3 2021: EUR 6.9 million). This corresponds to a year-on-year improve in EBIT of 19.0%.
Web finance prices amounted to EUR 0.2 million within the first 9 months of 2022 attributable to forex results (Q1-Q3 2021: EUR 0.04 million). As a result of rise in income and detrimental results from deferred taxes, earnings taxes amounted to EUR 2.6 million within the first 9 months of 2022 after EUR 0.7 million in the identical interval of 2021. The IFRS results from deferred taxes are actually negligible, that means that USU is topic to a “regular” tax fee beneath IFRS. Because of this, USU’s consolidated earnings declined by a notional 6.0% year-on-year to EUR 5.8 million within the reporting interval (Q1-Q3 2021: EUR 6.1 million). With a mean of 10,523,770 shares excellent, this corresponds to earnings per share of EUR 0.55 (Q1-Q3 2021: EUR 0.58).

With an fairness ratio of 54.1% (December 31, 2021: 55.5%), a year-on-year improve in Group liquidity of 13.4% to EUR 22.4 million (September 30, 2021: EUR 19.7 million) regardless of the dividend cost within the meantime and no liabilities to banks, the USU Group’s monetary state of affairs remains to be extraordinarily sound and safe.

In gentle of the very sturdy course of enterprise within the first three quarters with the early achievement of a excessive gross sales and earnings stage, the profitable begin to the ultimate quarter of 2022 and the 14.2% year-on-year improve in orders readily available to EUR 73.8 million (September 30, 2021: EUR 64.6 million), the Administration Board has specified or barely raised its steerage for 2022. Accordingly, the Administration Board now expects USU to document gross sales progress on the higher finish of the forecast vary of EUR 120 -125 million, with EBITDA growing to the higher finish of the forecast vary of EUR 14.5-16.0 million. This may even be pushed by the sturdy progress in high-margin SaaS enterprise and additional growing worldwide enterprise within the closing quarter of 2022. The Administration Board can also be confirming the present medium-term planning, which incorporates common natural gross sales progress of 10% within the subsequent few years and, in view of the continued progress in SaaS enterprise, a rise within the EBITDA margin to between 16% and 18% by 2024.

Primarily based on the above assumptions, the Administration Board is in flip planning to allow the shareholders of USU Software program AG to take part considerably within the firm’s working success in fiscal 2022, as in earlier years, and to proceed the shareholder-friendly dividend coverage with the distribution of a dividend that’s by no means decrease than within the earlier 12 months and that quantities to round half of the revenue generated.

This press launch is obtainable at www.usu.com.

USU Software program AG

As a number one supplier of software program and repair options for IT and customer support administration, USU allows firms to handle the necessities of at this time’s digital world. World organizations use our options to chop prices, grow to be extra agile and scale back dangers – with smarter companies, less complicated workflows and higher collaboration. With greater than 40 years of expertise and areas worldwide, the USU group brings clients into the long run.

Along with USU GmbH, which was based in 1977, the subsidiaries USU Applied sciences GmbH, USU Options GmbH, USU Options Inc. and USU SAS additionally belong to USU Software program AG (ISIN DE 000A0BVU28), which is listed within the Prime Normal of the German Inventory Change.

Additional data: www.usu.com.

Contact:
USU Software program AG
Company Communications
Dr Thomas Gerick
Cellphone: +49 (0) 71 41 – 48 67 440
Fax: +49 (0) 71 41 – 48 67 909
E mail: thomas.gerick@usu.com

USU Software program AG
Investor Relations
Falk Sorge
Spitalhof
D-71696 Möglingen
Cellphone: +49 (0) 71 41 – 48 67 351
Fax: +49 (0) 71 41 – 48 67 108
E mail: falk.sorge@usu.com

24.11.2022 CET/CEST Dissemination of a Company Information, transmitted by EQS Information – a service of EQS Group AG.
The issuer is solely chargeable for the content material of this announcement.

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