Strong first half to fiscal 2024 with double digit revenue growth and profitability lifted – earnings forecast raised

After closing the first half of the year, ATOSS Software SE remains on its growth trajectory and is once again reporting record numbers. Group revenues were up 14 percent to EUR 83.8 million in the first half of the year (previous year: EUR 73.2 million) in connection with an EBIT margin of 35 percent (previous year: 33 percent). The strong demand for workforce management solutions from the Munich software specialist remains unbroken against the backdrop of the persistent labour shortage and pressure to digitize that companies are faced with. As a result, the Management Board has raised its earnings forecast for fiscal 2024 announced at the start of the year.

Munich, July 24, 2024

ATOSS Software SE is maintaining its successful journey, setting new records for revenues and earnings – also in the second quarter. The company once again impressively continued to deliver strong  growth despite the weak economic environment. For example, Group revenues in the first half of the year were up by 14 percent to EUR 83.8 million (previous year: EUR 73.2 million). Of this amount, EUR 60.9 million (previous year: EUR 51.8 million) was accounted for by the Software division, with revenues advancing by 18 percent. Driven by the dynamic expansion of its cloud business, revenues from the cloud and subscriptions appreciated by 37 percent to EUR 33.9 million (previous year: EUR 24.8 million) and now account for a 41 percent share of total revenues (previous year: 34 percent). Together with the 9 percent gains in software maintenance revenues amounting to EUR 19.4 million (previous year: EUR 17.7 million), recurring revenues advanced year on year by 25 percent to EUR 53.3 million (previous year: EUR 42.5 million). Recurring revenues from the cloud and maintenance as a proportion of total revenues amounted to 64 percent (previous year: 58 percent) in the first half of the year. Revenues from consulting services expanded to EUR 18.0 million in the same period (previous year: EUR 16.4 million).

The ATOSS Group’s success in the first half of the year is also reflected in the improved order book. In this context, the renewed year-on-year increase in demand for cloud solutions is worthy of particular mention. For example, the cloud order backlog which shows revenues from contractually committed cloud usage fees within the next 12 months, advanced to EUR 76.0 million in the first half of the year (December 31, 2023: EUR 64.3 million). This key cloud indicator also includes cloud Annual Recurring Revenue (ARR for short) resulting from current cloud usage fees which increased by 20 percent to a total of EUR 70.6 million by comparison with the year-end figure as of December 31, 2023. Total ARR (consisting of cloud usage fees and maintenance revenues) climbed by 14 percent to EUR 109.1 million in the first six months until June 30, 2024.

The return on revenues in relation to operating profit (EBIT) stands at 35 percent (previous year: 33 percent) – primarily due to prudent cost management and the temporary deferment of investments in expanding staff resources – above the level of 30 percent forecast by the Management Board for the whole of 2024.

The strong performance of ATOSS is also reflected in other key financial indicators for the Group, such as liquidity and operating cash flow. Despite the dividend payment of EUR 3.37 per share on May 6, 2024 (totaling EUR 26.8 million), liquidity was up year on year by 46 percent to EUR 83.3 million (previous year: EUR 56.9 million). As of June 30, 2024, cash flow from operating activities rose year on year by EUR 4.1 million to EUR 29.3 million.

Consequently, the first half of the year once again underlines the continuity of ATOSS’ impressive growth which is now in its 19th record year in succession. Besides the company’s technologically leading software solutions, this achievement can be attributed first and foremost to the Group’s attractive business model, its financial strength and high predictability of revenues which are being continuously expanded by consistent growth in the cloud business.

In view of the outstanding growth of the business in the first half of the year, the Management Board is reiterating its revenue forecast for the 2024 fiscal year. This forecast envisages revenues to expand to EUR 170 million. Due to the positive developments in the first half of the year and expectations of future performance, the forecast for the EBIT margin has been lifted to at least 33 percent (previously: 30 percent).
 

CONSOLIDATED OVERVIEW PURSUANT TO IFRS: HALF-YEAR COMPARISON IN KEUR

CONSOLIDATED OVERVIEW PURSUANT TO IFRS: QUARTERLY GROWTH IN KEUR

(1) Cash and cash equivalents, other current and non-current financial assets (sight deposits, gold) as of the qualifying date, adjusted to exclude borrowings (loans)

(2) Dividend of EUR 3.37 per share on 6 May 2024 (KEUR 26,802); dividend of EUR 2.83 on 4 May 2023 (KEUR 22,507)

(3) In accordance with ISA 33.64, earnings per share (EPS) were adjusted retrospectively for previous periods as a result of the share split carried out in June 2024

(4) at the end of the quarter/year


Upcoming dates:

August 12, 2024  Publication of the 6-monthly financial statements

October 23, 2024 Publication of the 9-monthly financial statements

ATOSS

ATOSS Software SE is a provider of technology and consulting solutions for professional workforce management and demand-optimized workforce deployment, Whether time & attendance management, mobile apps, workforce forecasting, sophisticated workforce scheduling or strategic capacity and requirement planning, ATOSS has just the right solution – both in the cloud and on-premises, The modular product families feature the highest level of functionality, technology and platform independence, With around 15,600 customers in 50 countries, ATOSS workforce management solutions make a measurable contribution to increased value creation and competitiveness, At the same time, they ensure greater planning fairness and satisfaction at the workplace, Customers include companies such as Barry Callebaut, C&A, City of Munich, Decathlon, Deutsche Bahn, Lufthansa, OBI, Primark, Sixt and W,L, Gore & Associates, Further information: www.atoss.com

ATOSS Software SE

Christof Leiber / CFO

Rosenheimer Straße 141 h,

D-81671 Munich

Tel.: +49 (0) 89 4 27 71 – 0

Fax: +49 (0) 89 4 27 71 – 100

investor.relations@atoss.com