EQS-News

USU announces business figures for the first quarter of 2024

EQS-News: USU Software AG / Key word(s): Quarterly / Interim Statement USU announces business figures for the first quarter of 2024 23.05.2024 / 09:08 CET/CEST The issuer is solely responsible for the content of this announcement.

• Sales increase from 6.3% to EUR 35.4 million
• License sales more than tripled to EUR 4.5 million
• SaaS revenue increases by 10.4% to EUR 4.4 million
• EBITDA grows by 20.6% to EUR 4.6 million
• Record orders at hand of EUR 96.9 million
• public delisting takeover offer to USU shareholders announced

Möglingen, 23 May 2024.

In the first quarter of 2024, USU Software AG and its subsidiaries (hereinafter referred to as the "USU Group" or "USU") continued their growth trajectory and increased consolidated sales by 6.3% to EUR 35.4 million (Q1/2023: EUR 33.3 million). The increase in turnover was mainly driven by large orders from the public sector as well as several smaller and medium-sized orders from the private sector, which contributed to a new record number of orders at hand.

Thanks to several on-premises orders, USU significantly increased license sales in particular, which more than tripled to EUR 4.5 million (Q1/2023: EUR 1.3 million). At the same time, SaaS revenue increased by 10.4% to EUR 4.4 million (Q1/2023: EUR 4 million). Simultaneously, recurring sales, consisting of maintenance and SaaS income, grew by 5.8% to EUR 10.9 million (Q1/2023: EUR 10.3 million).

In the first quarter of 2024, the USU Group increased adjusted EBITDA by 20.6% to EUR 4.6 million (Q1/2023: EUR 3.8 million) thanks to the expansion of high-margin license and SaaS sales. The adjusted EBITDA margin increased disproportionately to sales to 13.0% (Q1/2023: 11.5%). As there were no special effects in the quarter under review, EBITDA corresponded to adjusted EBITDA. At the same time, USU generated EBIT of EUR 3.4 million (Q1/2023: EUR 2.7 million), which corresponds to an increase of 29.0% compared with the previous year. The consolidated profit increased by 41.9% to EUR 2.5 million (Q1/2023: EUR 1.7 million). This corresponds to diluted earnings per share of EUR 0.23 (Q1/2023: EUR 0.17) and basic earnings per share of EUR 0.24 (Q1/2023: EUR 0.17).