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KPS AG publishes figures for the first six months of 2020/2021

DGAP-News: KPS AG / Key word(s): Half Year Report KPS AG publishes figures for the first six months of 2020/2021 18.05.2021 / 07:30 The issuer is solely responsible for the content of this announcement.

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KPS AG publishes figures for the first six months of 2020/2021

Unterföhring/Munich, 18th May 2021 - KPS AG (WKN: A1A6V4 / ISIN: DE000A1A6V48), Europe's leading digital transformation and process optimisation consultancy hereby publishes its figures for the first half year 2020/2021 and confirms the preliminary revenue (EUR 76.9m) and EBITDA (EUR 11.4m) figures published on 04/05/2021.

In the first six months of the business year 2020/2021, revenue fell by 18.4% to EUR 76.9m. Especially in Germany, the longer than expected lockdown measures led to prolonged uncertainties with customers and potential customers alike. Accordingly, individual postponements and project pauses were agreed with clients. Business activities abroad continued to be robust. Sales generated in other European countries were virtually unchanged compared to the respective period the year before. The KPS Group's foreign share of sales grew from 42.1% in the first half year of 2019/2020 to 51.0% in the first six months of the current business year. Overall, a divided demand spread could be observed in the first half year of 2020/2021.

The demand for E-Commerce and digital solutions remained high. When observing the sales development, it should be taken into account that the same period in the previous business year 30/09/2019 to 31/03/2020 was barely affected by the COVID-19 pandemic. However, the reporting period from 30/09/2020 to 31/03/2121 was more strongly affected by the pandemic than originally expected over the whole six months.

The EBITDA and EBIT development highlights the quality of the KPS business model which has a high "margin of safety". Cost reductions, in particular those concerning freelancers and service providers, almost completely compensated for the decline in sales of EUR 17.3m. KPS achieved an EBITDA of EUR 11.4m in the reporting period which represents a decrease of only € 1.6m. EBIT fell compared to the same period in the last business year by EUR 1.7m to EUR 7.5m. Consequently, the EBIT margin of 9.8% was at the level of the previous business year. Earnings after taxes went down by EUR 0.5m to EUR 5.4m.