DGAP-News: Serviceware SE / Key word(s): Preliminary Results
Serviceware SE with record revenues in 2017/2018
- Revenues increase significantly by 24.4 percent to EUR 55.2 million
- Revenues in the field of Services/SaaS grow disproportionately by 38.6 percent
- Successful stepping up of the sales area during the fiscal year
- Adjusted EBIT at EUR 4.1 million
- Further growth for revenues and profit expected during the current fiscal year
Bad Camberg, 1 March 2019
Serviceware SE ("Serviceware", Securities Identification Number WKN A2G8X3), a leading European provider of software solutions for the Enterprise Service Management market ("ESM Market"), has recorded, according to provisional, unaudited numbers, as expected during the fiscal year 2017/2018 (until 30.11.), a very positive business development. With the upgrading of the integrated modular ESM platform, the further international expansion of Serviceware in foreign European countries and the stepping up of sales, the planned strategic milestones were all fully met during the year of the IPO. Revenues increased by 24.4 percent to EUR 55.2 million after EUR 44.4 million during prior year. The strongest revenue drivers were revenues in the field of Services/SaaS (Software as a Service), which rose by 38.6 percent to EUR 16.3 million. The fourth quarter of the past fiscal year was particularly dynamic with a plus of 50.3 percent in this field. Earnings before interest and taxes (EBIT) amounted, after adjustment for the non-recurring IPO costs (around EUR 1.3 million), to around EUR 4.1 million after EUR 5.6 million during the prior year period. They reflect the profitable business development, with the expenses incurred, more particularly, for the recruitment of further sales representatives being reflected at the same time by the income statement. In this way, Serviceware has created the basis for further growth and the strengthening of its position as the European market leader in ESM. The adjusted group result is expected to be clearly positive, too. During the fiscal year not only IPO costs but also a non-recurring tax burden in connection with the IPO of EUR 3.2 million was incurred. The liquid funds amounted at the end of the fiscal year to around EUR 53.7 million.
During the past fiscal year Serviceware consistently implemented its strategy of organic and inorganic growth: Foreign sales organisations were set up in the United Kingdom, Spain and Sweden. Moreover, Serviceware significantly extended its headcount in sales and service. With the takeover of SABIO, Serviceware has been able to add the area of Knowledge Management to its integrated, modular ESM platform, which creates an additional cross-selling potential.
After the good 2018 business development Serviceware proceeds on the assumption of a continuation of the positive business trend. For fiscal 2019 growth in revenues and profit is expected. In addition to organic growth along with a further increased headcount in sales and service as well as within the framework of internationalisation, Serviceware also continues to analyse the market for inorganic growth opportunities.
Harald Popp, CFO and co-founder of Serviceware: "We are highly pleased about the development of the past fiscal year. Seviceware has grown profitably and has been able to make significant progress in strategic terms."
Dirk K. Martin, CEO and co-founder of Serviceware: "During the past year we have created an excellent starting base for the further positive development of Serviceware. Our goal is to optimally seize all the growth opportunities available on the market."
About Serviceware SE
You can find more information at www.serviceware.se
01.03.2019 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
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