DGAP-News: USU Software AG / Key word(s): Quarter Results
USU enjoys a good start to the year
2021-05-14 / 09:00
The issuer is solely responsible for the content of this announcement.
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USU Group reports sales growth and above-average increase in earnings in first quarter of 2021
. Sales up 3.7% to EUR 27.2 million
. Adjusted EBIT rises 10.3% to EUR 2.2 million
. Further increase liquidity
. Consistently solid financing
. New record for orders on hand
. Planning anticipates further growth
Möglingen, May 14, 2021. USU Software AG and its subsidiaries (hereinafter also referred to as the USU Group or USU)
continued to benefit from the trend toward business process digitalization in the first quarter of 2021. According to
the figures published today, the leading provider of solutions for digital IT and customer services increased its
consolidated sales by 3.7% to EUR 27.2 million (Q1 2020: EUR 26.2 million).
This positive operating performance in spite of the COVID-19 pandemic was attributable in particular to extremely
strong domestic business, which expanded by 11.0% to EUR 20.4 million (Q1 2020: EUR 18.3 million). By contrast,
international sales declined to EUR 6.8 million compared with the high prior-year figure (Q1/20220: EUR 7.9 million) as
a result of the coronavirus situation.
Broken down by type of sales, USU's consulting revenue saw above-average growth of 11.6% year-on-year to EUR 16.6
million (Q1 2020: EUR 14.8 million). At the same time, it benefited from the sustained growth in cloud and maintenance
business. Maintenance sales including sales from software-as-a-service (SaaS) business increased by 5.6% year-on-year
to EUR 8.2 million (Q1 2020: EUR 7.8 million), of which EUR 2.4 million (Q1 2020: EUR 2.2 million) was attributable to
SaaS sales alone. This represents an increase in SaaS sales of 12.0% as against the previous year. Due to the
comparatively high share of new contracts attributable to SaaS business, license sales in the first quarter of 2021
were down 35.8% on the very strong prior-year figure at EUR 2.2 million (Q1 2020: EUR 3.4 million).
As a result of the business growth and the below-average increase in Group expenses, the USU Group recorded a further
year-on-year improvement in profitability in Q1 2021. EBIT adjusted for extraordinary effects due to acquisitions
(adjusted EBIT) increased by 10.3% to EUR 2.2 million (Q1 2020: EUR 2.0 million). On an unadjusted basis, EBIT rose by
16.6% year-on-year to EUR 2.0 million (Q1 2020: EUR 1.7 million), while EBITDA increased by 4.0% year-on-year to EUR
3.2 million (Q1 2020: EUR 3.1 million). The net result after taxes rose by 29.4% year-on-year to EUR 2.0 million (Q1
2020: EUR 1.6 million). With an average of 10,523,770 shares outstanding, this corresponds to earnings per share of EUR
0.19 (Q1 2020: EUR 0.15).
At EUR 4.9 million (Q1/2020: EUR 8.6 million), USU's cash flow from operating activities was once again clearly
positive in the quarter under review, mainly due to the quarterly profit generated by USU. Accordingly, the USU Group
increased its group liquidity to EUR 22.7 million as of March 31, 2021 (December 31, 2020: EUR 18.5 million). At the
same time, USU's equity climbed from EUR 61.8 million as of December 31, 2020 to EUR 63.6 million as of March 31, 2021.
With total assets of EUR 122.2 million (December 31, 2020: EUR 115.5 million), the equity ratio was 52.1% as at March
31, 2021 (December 31, 2020: 53.5%). With this equity ratio, extensive Group liquidity, and no liabilities to banks,
the USU Group continues to have extremely sound and secure financing even during the coronavirus crisis. Thanks to
strong order development, USU also increased its orders on hand to a new record of EUR 64.5 million at the end of the
period under review (March 31, 2020: EUR 57.8 million), up 11.6% on the previous year.
The Management Board expects the USU Group to record slight growth in sales and an improvement in adjusted EBIT to at
least EUR 9-10 million in 2021. This development will be driven in particular by strong SaaS business, as well as
positive effects and increased efficiency in connection with the implementation of the "One USU" strategy. The
Management Board is also confirming the current medium-term planning, which includes average organic sales growth of
10% in the next few years and, in view of the continued growth in SaaS business, an increase in the operating margin on
adjusted EBIT to between 13% and 15% by 2024. Strategic planning focuses on the three established growth pillars of the
USU Group: increased internationalization, the development and launch of new product innovations and growth through
acquisitions.
This press release is available at www.usu.com.
USU Software AG
As the leading provider of software and services for IT and customer service management, USU empower companies to meet
the demands of today's digital world. Global companies use our solutions to cut costs, drive agility, and reduce risk -
with smarter services, streamlined workflows, and improved collaboration. With over 40 years of experience and
locations worldwide, the USU team helps customers move into the future.
USU Software AG (ISIN DE 000A0BVU28), listed in the Prime Standard of the German stock exchange, incorporates USU GmbH,
founded in 1977, as well as the subsidiaries USU Technologies GmbH, USU Solutions GmbH, USU Solutions Inc. and USU SAS.
Further information: http://www.usu.com
Contact
USU Software AG
Investor Relations Manager
Falk Sorge
Email: falk.sorge@usu.com
USU Software AG
Dr. Thomas Gerick
Corporate Communications Manager
Email: thomas.gerick@usu.com
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2021-05-14 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de
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Language: English
Company: USU Software AG
Spitalhof
71696 Möglingen
Germany
Phone: +49 (0)7141 4867-0
Fax: +49 (0)7141 4867-200
E-mail: info@usu-software.de
Internet: www.usu-software.de
ISIN: DE000A0BVU28
WKN: A0BVU2
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf,
Hamburg, Munich, Stuttgart, Tradegate Exchange
EQS News ID: 1196489
End of News DGAP News Service
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1196489 2021-05-14
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May 14, 2021 03:00 ET (07:00 GMT)