WKN: A2G8X3 ISIN: DE000A2G8X31 Serviceware
DGAP-News: Serviceware SE / Key word(s): Quarter Results
Serviceware SE continues substantial profitable growth in the first nine months of 2017/2018 with dynamic revenue growth
Bad Camberg, 26 October 2018
- Total revenues up in Q3 up 30 percent and up by 19 percent over nine months
- Revenues for Software as a Service (Saas) lift by 29 percent (Q3) or 32 percent (nine months)
- Adjusted EBIT and earnings after taxes in the nine-month period 2017/2018 increase by 7 percent and 24 percent respectively
- Strategic steps for further growth: ESM platform extended / significant staff increases with highly qualified employees / new sales activities in the United Kingdom and Sweden
- Forecast for profitable growth to continue in 2018/2019 has been confirmed
EBIT adjusted for the one-off costs of the IPO in April 2018 increased by 7 percent to EUR 3.4 million in the first nine months of 2017/2018 (unadjusted EUR 2.2 million). Adjusted earnings after taxes amounted to EUR 2.7 million (unadjusted EUR 1.5 million) and was thus up by 24 percent. New sales employees were hired in line with the strategy, and the acquisition of SABIO GmbH also added 58 new employees, causing Serviceware's personnel expenses to increase by a scheduled around 32 percent in Q3 2018 compared to the same quarter of the previous year. As a result, despite the challenging situation on the employment market in the IT sector, Serviceware has succeeded in acquiring the desired number of highly qualified employees for the company. The acquisition and integration of SABIO GmbH and the formation of subsidiaries in the United Kingdom and Sweden also led to one-off expenses recognised in profit and loss of EUR 0.2 million in the period under review.
The company has further boosted its sales activities, reinforced its international expansion and extended its ESM platform, meaning that in the first nine months of the current fiscal year Serviceware has achieved key milestones for its further expansion and thus laid the foundations for an accelerated expansion of its position on the European market and sustainable growth.
Given this background, Serviceware believes that on the whole profitable growth will continue into fiscal year 2018/2019.
Harald Popp, Serviceware's CFO, commented on the interim results: "Our operating business is growing well, as we can see quite impressively in the substantially higher revenues. We have hired new employees and set up sales teams, including in the United Kingdom and Sweden, thus laying the foundations for additional growth potential. Our revenues are continuing to enjoy profitable growth and we are expanding the proportion of SaaS in our revenue mix, which means that our expansion strategy is right on track."
Dirk K. Martin, Serviceware's CEO: "Serviceware reached a new level this year from various perspectives. We acquired SABIO, thus adding a knowledge management module to our enterprise service management platform, thus forming the basis for the future use of artificial intelligence (AI) in Serviceware's ESM platform. We have further reinforced our profitability and, on this basis, there is enormous potential for the coming years. This is coupled by the fact that our company is continuing to grow both in Germany and also internationally."
The quarterly report as of 31 August 2018 (9-month report 2017/2018) is available on Serviceware's website: www.serviceware.se
About Serviceware SE
You can find more information at www.serviceware.se.
26.10.2018 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
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