EQS-News

DATAGROUP Posts Revenue Growth in the Second Quarter and First Half of 2023/2024

EQS-News: DATAGROUP SE / Key word(s): Half Year Results DATAGROUP Posts Revenue Growth in the Second Quarter and First Half of 2023/2024 23.05.2024 / 07:28 CET/CEST The issuer is solely responsible for the content of this announcement. Revenue and earnings development fully in line with expectations Revenue boost in CORBOX core business on quarterly and half-yearly basis also due to new contracts in future fields Order entry in CORBOX core business remains at a very high level Earnings development as planned, characterized by investments in future fields of artificial intelligence, cyber security and cloud technologies SAP expertise strengthened by acquisition of ISC Innovative Systems Consulting Full-year forecast entirely confirmed Pliezhausen, 23 May 2024. DATAGROUP SE (WKN: A0JC8S) today publishes its financial results for the second quarter and first half of 2023/2024. Second quarter revenue grew by 5.7 % as expected and revenue also increased on a half-yearly basis. Development in earnings continues to reflect the ongoing investments in the future fields of artificial intelligence, cyber security and cloud technologies as planned and is in line with expectations. In the current fiscal year 2023/2024, the company has already received orders of over EUR 21m EUR from 21 new customers in the CORBOX business, 38 customers have extended their contracts and 38 customers have renewed their contracts. The outlook for the full year 2023/2024 is entirely confirmed. Revenues of EUR 127.7m in the second quarter were 5.7 % above the prior-year quarter (EUR 120.8m). They added up to EUR 248.7m on a half-yearly basis compared to EUR 247.1m a year before. Thanks to a focus on the profitable CORBOX business, gross profit increased slightly disproportionately in the second quarter by 6.6 % to EUR 91.8m (PY: EUR 86.2m). “Our investments in the future fields of AI, cyber security and cloud pay off as expected”, comments Andrease Baresel, CEO of DATAGROUP, with respect to the half-year results. “Revenue will continue to grow over the year with the start of new customer contracts. The primary reason for this assessment is the continuing high level of incoming orders in the CORBOX core business which is mainly based on the skills in the future fields. Having acquired ISC, we also support the growing demand for SAP services and consulting.” As recently as mid-April, for instance, DATAGROUP has signed a contract with EEW Energy from Waste GembH (EEW). EEW is one of the leading companies in waste disposal and energy supply in Germany and will make use of full IT outsourcing in the cloud with DATAGROUP. The contract has a term of five years and a volume of more than EUR 5m per year. “The use of artificial intelligence will take provisioning of IT services to a completely new level of productivity and quality and contribute to strengthen DATAGROUP’s competitiveness going forward”, continues Baresel.