WKN: A2G8X3 ISIN: DE000A2G8X31 Serviceware
DGAP-News: Serviceware SE / Key word(s): Half Year Results
Serviceware SE enjoys significantly faster sales and earnings growth in H1 2017/2018 - dynamic trend expected to continue
Bad Camberg, 27 July 2018
- H1: Software as a Service (SaaS) sales up 33 percent,
- Even stronger growth in Q2: SaaS sales up 39 percent;
- Successful expansion of sales team and new customer acquisition
- Profitable growth set to continue in second half of the fiscal year
Serviceware SE ("Serviceware", ISIN DE000A2G8X31), a leading European provider of software solutions for the enterprise service management ("ESM") market, recorded substantially faster sales and earnings growth in the first half of fiscal year 2017/2018 (to 31 May 2018). The growth rates compared to the same period of the previous year were significantly higher in the second quarter than they were in the first quarter. Sales in the first six months were up by a total of 15 percent to EUR 27.0 million. In the second quarter they lifted by 19 percent. The most important drivers were sales from Software as a Service (SaaS) sales which grew by a total of 33 percent in the first half of the fiscal year compared to the same period of the previous year to EUR 7.4 million. In the second quarter they lifted by 39 percent.
After adjustment for one-off expenses of EUR 0.9 million - in the period for Serviceware's successful IPO in April 2018 - EBIT increased by 15 percent in the first six months to EUR 3.1 million. Including expenses for the IPO, EBIT in the first half of the fiscal year totaled EUR 2.2 million. Adjusted EBIT was up by 31 percent in the second quarter. Adjusted consolidated earnings after taxes in H1 were up by 18 percent to EUR 2.4 million (including expenses from the IPO: EUR 1.5 million). It lifted by more than 40 percent in the second quarter alone compared to the same period of the previous year.
Harald Popp, Serviceware's CFO and co-founder, commented: "We are very pleased with the figures from the first six months of 2017/2018 and we once again significantly increased the pace of our growth in particular in the second quarter, lifting our profits by an above average amount."
The positive figures go hand in hand with the continued successful course set for Serviceware's growth strategy in the first half of 2017/2018. Market penetration increased significantly with around 40 new customers being acquired in the first six months of the fiscal year. The new customers acquired during the first six months also include a large corporate group from Scandinavia. Serviceware was also successful with regard to internationalisation, and the sales team in Spain and the Netherlands has been reinforced as a result. This is also expected to be the case in Sweden and the United Kingdom very soon. In addition, during the period under review, Serviceware also investigated non-organic growth possibilities and also made progress in this regard.
Dirk K. Martin, Serviceware's CEO and co-founder, commented: "We are making excellent progress with implementing our long-term growth strategy. Developments over the past few months have given us a great deal of confidence and in addition we are also enjoying long-term benefits from companies' needs to digitalise their service organisation and thus differentiate themselves from the competitors."
Based on the successful course of business in the first six months and the unchanged positive growth in the past few weeks, Serviceware believes that the profitable growth in the first half of the year will continue in the second half of the fiscal year.
The report on the H1 figures will be available on Serviceware SE's Web site from 27 July 2018 at www.serviceware.se.
About Serviceware SE
You can find more information at www.serviceware.se.
27.07.2018 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
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