EQS-News

USU Software AG announces figures for 2023 - Seite 2

All in all, the Company’s consolidated earnings fell by 30.3% year-on-year to EUR 5.3 million in fiscal 2023 (2022: EUR 7.6 million). With 10,009,046 shares outstanding on average (2022: 10,392,828), this corresponds to diluted earnings per share of EUR 0.50 (2022: EUR 0.72).

In accordance with the Company’s communicated dividend policy, whereby the dividend should never be less than in the previous year and should amount to roughly half the profit generated, the Management Board and Supervisory Board are proposing a dividend distribution equal to the previous year’s level of EUR 0.55 per share for fiscal 2023 (2022: EUR 0.55).

The Management Board anticipates good overall business performance in fiscal 2024, not least thanks to the sustained high level of orders on hand of EUR 84.4 million (December 31, 2022: EUR 83.0 million). Accordingly, the guidance for 2024 is for sales growth to between EUR 143 and EUR 146 million, which will be made possible by the further significant increase in SaaS revenue in particular. At the same time, adjusted EBITDA is expected to rise to EUR 14-16million.

The Management Board is also reiterating the current medium-term planning, which forecasts average organic sales growth of 10% in the next few years and, in view of the continued growth in SaaS business, an increase in the adjusted EBITDA margin to between 17% and 19% by 2026.

As communicated in the ad hoc disclosure dated March 12, 2024, the Company plans to delist the shares of USU Software AG. The Management Board believes that having the USU shares listed on a stock exchange has had few strategic and financial advantages in the past, and so the considerable costs of listing as a result of increasing regulation no longer seem justified. Considering the overall circumstances, delisting is in the Company’s interests. USU Software AG is also planning the considerable further expansion of the Company’s product business and that of its subsidiaries. To finance the substantial investment required for this expansion of product business, strategic options are to be identified and an external partner found and involved in the implementation. To this end, the product business is to be consolidated and legally and operationally separated from the other divisions. USU Software AG has begun the process of assessing the strategic options, separating the product business, and looking for a partner. The Management Board believes that delisting supports the selection of the strategic options.