EQS-News

adesso SE increases sales revenues in Q1 2024 by 15 % to EUR 317.1 million / EBITDA at previous year’s level of EUR 17.8 million due to calendar effect / Guidance confirmed

EQS-News: adesso SE / Key word(s): Quarter Results/Quarterly / Interim Statement adesso SE increases sales revenues in Q1 2024 by 15 % to EUR 317.1 million / EBITDA at previous year’s level of EUR 17.8 million due to calendar effect / Guidance confirmed 13.05.2024 / 07:31 CET/CEST The issuer is solely responsible for the content of this announcement. adesso SE increases sales revenues in Q1 2024 by 15 % to EUR 317.1 million / EBITDA at previous year’s level of EUR 17.8 million due to calendar effect / Guidance confirmed

 

• Strong growth and fundamentally good demand leads to expectations of an increase in earnings over the course of the year
• EBITDA contribution in the first quarter of 2024 restrained by two fewer working days than in the previous year
• Impacts from investments in the IT Solutions segment
• Full-year sales revenues and EBITDA guidance confirmed

 

With the quarterly statement published today, adesso SE underscores its continued growth path in 2024 and generates a 15 % increase in sales revenues to EUR 317.1 million, almost exclusively organically. The number of employees converted to full-time equivalents increased by 17 % to 9,926 (previous year: 8,513) as at the reporting date, which is disproportionately high compared to sales revenues. While sales revenues developed dynamically in the first quarter, the calendar effect in particular had an impact on the operating result, with two fewer working days than in the previous year. At EUR 17.8 million, EBITDA remained roughly at the previous year’s level (EUR 17.9 million). Investments in the IT Solutions segment, which unlike in the previous year were not accompanied by corresponding licence revenues, also had an adverse effect on earnings growth. With capacity utilisation still below average at the beginning of the year in the core business with IT services, the disproportionately high increase in personnel and other operating expenses compared to the sales revenues had a particularly strong impact on the operating result due to the calendar effect. The three subsequent quarters will each provide one more working day than in the previous year. With capacity utilisation expected to continue to rise and own price increases, the additional working days should also make a higher contribution to sales revenues compared to the previous year and, with comparable cost structures, a higher contribution to earnings. On this basis, the Executive Board confirms the full-year guidance of over EUR 1.25 billion in sales revenues and EUR 110 to 130 million in EBITDA.