DGAP-News: Serviceware SE / Key word(s): Quarter Results
Serviceware continues accelerated, profitable revenue growth during Q1 2018/2019
- Sales revenues during Q1 2018/2019 plus 28.0%
- Sales revenues for Software as a Service (SaaS) increases particularly strongly by 55.6%
- Adjusted EBIT plus 15.9%
- Defined strategy for accelerated growth is successfully implemented
- Profitable sales revenues growth of at least 15 - 30% expected for the full year
Bad Camberg, 26 April 2019. Serviceware SE ("Serviceware", ISIN DE000A2G8X31) has continued to successfully implement its expansion strategy during Q1 2018/2019 (1 December - 28 February) and set a high growth pace. Sales revenues increased from EUR 12.8 million during the prior year period to EUR 16.4 million during the reporting period. With 28.0% during the reporting period, the growth in sales revenues at Serviceware was significantly ahead of the growth of the ESM market (Enterprise Service Management) of little less than altogether 20% anticipated by the analysts (eg Research in Action) for the full year. For Serviceware, special growth drivers were again sales revenues in the field of Software as a Service (SaaS), which were 55.6% above the prior year period and increased from EUR 3.6 million to EUR 5.6 million.
During the first quarter of the current fiscal year, Serviceware has continued to pursue consistently and very successfully the strategy defined at the IPO in view of a sustainable acceleration of future growth. With the financial resources from the IPO of a net amount of EUR 55 million, the internationalisation in Europe (around 15% to 25% of the resources), the increasing addressing of large customers (around 10% to 20% of the funds) as well as inorganic growth of the company (around 65% to 75% of the funds) are to be pushed, as announced, during the coming three to five years.
During the first quarter of the fiscal year it has been possible to gain, amongst others, a large international group from Switzerland and one of the largest automotive suppliers in the world as new customers. Moreover, Serviceware succeeded in participating in large international calls for tenders whose results are still outstanding. Amongst the new customers that were won over during Q1 2018, already little less than 20% originated from outside Germany. Following the successful setting up of further affiliates in the UK and Sweden, whose personnel and structural extension was intensively developed during the reporting period, Serviceware expects a continuation of this trend. Building on the acquisition of the knowledge management specialist SABIO, it has, moreover, been possible to leverage already significant cross-selling potentials. Despite the tense HR situation in the IT industry, Serviceware has succeeded in significantly increasing its headcount in line with its strategy, with a focus on sales and services. With 394 employees, the company employed around 37% more staff on 28 February 2019 than a year ago. The recruiting activities focused on Great Britain, the Netherlands, Spain, Bulgaria and Germany.
The scheduled additional and directly result-reducing expenses from the implementation of the programme to accelerate future growth amounted during the first quarter of the fiscal year on an EBIT level to little less than EUR 1.2 million. The item includes above all additional personnel and structural expenses. In order to provide a transparent and comparable picture of the resources charged to expenses during the individual periods and show at the same time the impact on results involved, Serviceware reports in addition to the standard reporting according to IFRS also adjusted income ratios. The EBIT adjusted for the expenditure involved in the programme for the acceleration of future growth of EUR 2.1 million was 15.9% above the prior-year period. The unadjusted EBIT according to IFRS of EUR 0.9 million was below the prior year value of EUR 1.6 million, as expected. The adjusted consolidated earnings after taxes of EUR 1.5 million were 6% above prior year whereas the unadjusted result amounted to EUR 0.7 million and was hence below the prior-year value of EUR 1.3 million.
Against the backdrop of the very successful first quarter, the high market dynamics and the very good own market positioning, Serviceware proceeds for the full fiscal year on the assumption of a dynamic profitable growth with an increase in sales revenues of at least 15 to 30%. For the unadjusted result, a moderate rise versus the prior year period is to be achieved during the full year despite the current expansion phase involving intense expenditure; the relevant impulses are expected during the second half year.
The quarterly release relating to Q1 2018/2019 is available for download under www.serviceware.se in the Investor Relations section.
About Serviceware SE
26.04.2019 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
|65520 Bad Camberg|
|Phone:||+49 6434 930 76-0|
|Fax:||+49 6434 930 76-300|
|Listed:||Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Stuttgart, Tradegate Exchange|
|EQS News ID:||803429|
|End of News||DGAP News Service|
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