Mensch und Maschine Software : discloses Q1 report 2018
April 23, 2018 at 03:15 am EDT
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DGAP-News: Mensch und Maschine Software SE / Key word(s): Quarter Results
Mensch und Maschine Software SE discloses Q1 report 2018
23.04.2018 / 09:11
The issuer is solely responsible for the content of this announcement.
Most profitable quarter ever
- EBITDA +22% / Net profit +30% / both segments growing
- Targets for 2018 solidly underlined
Wessling, April 23, 2018 - Mensch und Maschine Software SE (MUM - ISIN DE0006580806), a CAD/CAM specialist company, started the new year 2018 with the most profitable quarter ever: After the end of the Autodesk retarding effect +22% EBITDA increase was achieved. While the Software segment continued to contribute a larger share, the VAR Business grew at a much higher percentage. So the gap begins to shrink, as expected.
Group sales increased to EUR 48.58 mln (PY: 45.47 / +6.8%), with EUR 14.02 mln (PY: 12.83 / +9.3%) from M+M Software and EUR 34.56 mln (PY: 32.64 / +5.9%) from the VAR Business. Group gross margin increased to a record EUR 26.79 mln (PY: 24.98 / +7.2%), with a EUR 13.74 mln (PY: 12.56 / +9.3%) share from M+M Software and EUR 13.05 mln (PY: 12.42 / +5.1%) from the VAR segment.
Operating profit EBITDA before depreciation, amortization, interest and taxes grew to EUR 6.62 mln (PY: 5.42 / +22%), the best quarterly result ever. Software contribution was EUR 4.14 mln (PY: 3.54 / +17%), while the VAR Business achieved EUR 2.48 mln (PY: 1.87 / +33%). Net profit after minority shares jumped by 30% to EUR 3.40 mln (PY: 2.62), or 21 Cents (PY: 16) per share. Operating cash flows at EUR 6.82 mln (PY: 7.70) came in twice as high as net profit and even higher than EBITDA.
CEO Adi Drotleff now feels that M+M is on the right track: 'Our EBITDA target range of EUR 22-23 mln (PY: 18.04 / +22% to +28%) is solidly underlined by the start of 2018, particularly as in Q2 the VAR Business sales are expected to speed up due to the renewal of many multi-year Autodesk maintenance contracts. Net profit is also expected in the target range guidance of EUR 11-12 mln (PY: 8.55 mln / +30% to +40%), EPS 67-73 Cents (PY: 52.5). Assuming we achieve these targets we plan to increase the dividend to 62-68 Cents, while in the annual shareholders' meeting on May 9, 2018, the dividend proposal for fiscal year 2017 will be 50 Cents (PY: 35).'
23.04.2018 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.
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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.