EQS-News

USU Software AG announces figures for 2023

EQS-News: USU Software AG / Key word(s): Annual Results USU Software AG announces figures for 2023 28.03.2024 / 09:00 CET/CEST The issuer is solely responsible for the content of this announcement. Consolidated sales up 4.4% to EUR 132.1 million Growth in SaaS revenue of almost 20% to EUR 17.0 million Adjusted EBITDA declines by 20.9% to EUR 13.3 million Consolidated net profit down 30.3% to EUR 5.3 million Dividend remains constant at EUR 0.55 High orders on hand of EUR 84.4 million Management Board confirms forecasts Möglingen, March 28, 2023.

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%.