Mensch und Maschine Software SE presenting H1 Report 2023
July 20, 2023 at 12:34 pm IST
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EQS-News: Mensch und Maschine Software SE
/ Key word(s): Half Year Results
Mensch und Maschine Software SE presenting H1 Report 2023
20.07.2023 / 09:02 CET/CEST
The issuer is solely responsible for the content of this announcement.
Record half year figures after solid Q2
- Sales +11% / Gross profit +10% / EPS +15%
- Optimistic guidance for 2023 and 2024
Wessling, July 20, 2023 – Mensch und Maschine Software SE (MUM - ISIN DE0006580806), a CAD/CAM/BIM specialist company, achieved the strongest first half year in the company's history with a record Q1, followed by a solid Q2, clearly underlining the guidance for full year 2023.
Half year sales amounted to EUR 174.38 mln (PY: 156.59 / +11%), with EUR 54.58 mln (PY: 48.77 / +12%) from M+M Software and EUR 119.80 mln (PY: 107.82 / +11%) from the VAR Business. After Q1 sales had been up +21% due to Autodesk’s 3YR final peak, the sales curve in Q2, which was more dominated by proprietary M+M business, was nearly flat at +0.2%, as expected.
6M gross profit climbed to EUR 88.06 mln (PY: 80.03 / +10%), with EUR 49.37 mln (PY: 44.43 / +11%) from M+M Software and EUR 38.69 mln (PY: 35.60 / +8.7%) from the VAR Business. The swing to proprietary business is clearly visible in gross yield development, which after 45.7% in Q1 jumped to 57.4% in Q2.
Personnel expenses rose by an acceptable +7.8% to EUR 49.90 mln (PY: 46.28). With +6.0% in Q2 after +9.7% in Q1 and +12% in 2022, M+M’s restrained personnel policy is increasingly showing an effect.
Operating profit EBIT was increased to EUR 26.33 mln (PY: 22.70 / +16%), with EUR 16.21 mln (PY: 13.73 / +18%) from M+M Software and EUR 10.12 mln (PY: 8.97 / +13%) from VAR Business. Net profit after minority shares grew by +14% to 16.14 mln (PY: 14.12), or 97 Cents (PY: 84 / +15%) per share. Operating cash flows stayed on record trip, coming in at EUR 31.59 mln (PY: 24.51) or 189 Cents (PY: 146) per share.
CFO Markus Pech and Chairman Adi Drotleff are optimistic for 2023/24: “After the strong first half year, we believe that our 164-181 Cents/share net profit target for full year 2023 is clearly underlined. Accumulated over the two years 2022/23 this would result in +38-55 Cents surplus over the 126 Cents/share achieved in 2021, or +14-20% p.a. - exactly matching the 2YR guidance from annual report 2021. When attaining this goal, we shall increase the dividend to 155-165 Cents (PY: 140). For 2024 we also expect EPS to grow by +14-20% or +24-34 Cents and plan for +15-25 Cents dividend increase.”
The H1 report title story is "Digital Twin", which runs like a red thread through M+M's software and digitization portfolio.
20.07.2023 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement.
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Mensch und Maschine Software SE is a Germany-based provider of software solutions in the field of Computer Aided Design (CAD), Computer Aided Manufacturing (CAM), Product Data Management (PDM) and Building Information Management (BIM). It focuses on the areas industry and mechanical engineering, construction and architecture, electrical engineering and plant construction, data management, industrial design, animation and entertainment and infrastructure management. Along with software development, the Company provides related support service. The Company is present in Germany, Austria, Switzerland, France, Italy, the United Kingdom, Poland, Romania, Spain, the United States, Brazil, Japan and in the Asia-Pacific region.