EQS-News
USU Software AG announces figures for 2023
- Consolidated sales up 4.4% to EUR 132.1 million
- SaaS revenue grows by almost 20% to EUR 17.0 million
- Adjusted EBITDA declines by 20.9% to EUR 13.3 million
EQS-News: USU Software AG / Key word(s): Annual Results
|
In 2023, USU Software AG (ISIN DE000A0BVU28) together with its subsidiaries (hereinafter referred to as “USU” or the “USU Group”) increased consolidated sales by 4.4% year-on-year to EUR 132.1 million (2022: EUR 126.5 million). SaaS business performed well, recording growth of around 20% to EUR 17.0 million (2022: EUR 14.2 million). With maintenance sales up 3.0% at EUR 25.9 million (2022: EUR 25.1 million), recurring revenue (maintenance sales including SaaS revenue) increased by 9.0% to EUR 42.9 million (2022: EUR 39.4 million).
Despite the rise in high-margin SaaS sales, operating profitability declined in the reporting year on account of modest license business, leading to a year-on-year decrease in EBITDA of 26.2% to EUR 12.4 million (2022: EUR 16.8 million). Taking account of one-time expenses from share-based compensation of EUR 0.3 million (2022: EUR 0 million) and restructuring costs for severance payments of EUR 0.6 million (2022: EUR 0 million), adjusted EBITDA amounted to EUR 13.3 million (2022: EUR 16.8 million). The adjusted EBITDA margin declined accordingly from 13.3% in the previous year to 10.1% in 2023. Adjusted for depreciation and amortization of EUR 4.8 million (2022: EUR 5.0 million), USU generated EBIT of EUR 7.6 million in 2023 (2022: EUR 11.8 million). This corresponds to a year-on-year decline in EBIT of 35.4%.