Mensch und Maschine Software SE presenting Q1 report 2023

Another best quarter ever in M+M's history
  • Sales +21% / Gross profit +12.5% / Profit +18%
  • Profit target for full year 2023 clearly underlined
Wessling, April 20, 2023 - Mensch und Maschine Software SE (MUM - ISIN DE0006580806), a CAD/CAM/BIM specialist company, started 2023, as in the previous year, with the best quarter ever in M+M's history, achieving double digit sales and profit growth.
Group sales amounted to EUR 103.06 mln (PY: 85.41 / +21%), with EUR 29.10 mln (PY: 24.68 / +18%) from M+M Software and EUR 73.96 mln (PY: 60.73 / +22%) from VAR Business, where the end of Autodesk 3YR contract discounting in January created a final sales peak. Group gross profit climbed to EUR 47.09 mln (PY: 41.85 / +12.5%), with EUR 25.84 mln (PY: 22.51 / +15%) from M+M Software and EUR 21.25 mln (PY: 19.35 / +10%) from VAR Business.
Operating profit EBIT increased to EUR 15.81 mln (PY: 13.38 / +18%), with EUR 9.19 mln (PY: 7.65 / +20%) from M+M Software and EUR 6.62 mln (PY: 5.73 / +16%) from VAR Business. Net profit after minority shares grew by +18% to EUR 9.66 mln (PY: 8.34), or 58 Cents (PY: 49) per share.
Operating cash flows reached an absolute record at EUR 24.59 mln (PY: 11.69) or 148 Cents (PY: 69) per share, benefiting from very high sales just before the end of 2022, which shifted high amounts of cash flows into the new year.
CFO Markus Pech happily states: "After the strong start of the year we believe that the 164-181 Cents per share net profit target from the annual report 2022 is clearly underlined. Accumulated over the two years 2022/23E this would result in +38-55 Cents surplus or +14-20% p.a. - exactly matching the 2YR guidance from annual report 2021."
Chairman Adi Drotleff adds: "Assuming we achieve this target, we plan to increase the dividend to 155-165 Cents, while in the annual shareholders' meeting on May 11, 2023, the dividend proposal for fiscal year 2022 will be 140 Cents."

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MUM - Mensch und Maschine Software SE published this content on 20 April 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 20 April 2023 07:13:05 UTC.