SNP reports strong full-year top line growth and significant improvements in earnings and cash flow

CORPORATE NEWS

SNP reports strong full-year top line growth and significant improvements in earnings and cash flow

• In 2023, order entry increased to approx. EUR 266 million, and group revenue to around EUR 203 million.
• Operating results (EBIT) improved significantly by approx. EUR 4 million to around EUR 11 million; currency-adjusted, the increase would be approx. EUR 11 million versus 2022.
• Operating cash flow turned positive, totaling around EUR 12 million in 2023.

Heidelberg, January 31, 2024 – SNP SE (ISIN: DE0007203705), a leading provider of software solutions for digital transformations, automated data migrations, and data management in the SAP ecosystem, achieved significant growth for all key financial indicators in 2023.

According to the preliminary and unaudited figures for the fiscal year 2023, the company expects order entry of around EUR 266 million for the full year, which will be around 10% higher than the mean value of the recently published order entry forecast (EUR 230 to EUR 250 million). Compared to the previous year, this reflects an increase of around 37% (order entry 2022: EUR 193.6 million).

Group revenue will be in line with the most recent forecast despite the significant negative effects of highly volatile exchange rates in Argentina. It will increase by around 17% to approx. EUR 203 million (revenue forecast: between EUR 200 and EUR 205 million, 2022: EUR 173.4 million).

The operating result (EBIT) is expected to be around EUR 11 million (forecast for EBIT: at the upper range of EUR 5 to 10 million or even slightly higher). This corresponds to an increase of around 60% or around EUR 4 million compared to the previous year (EBIT 2022: EUR 6.8 million); currency-adjusted, the increase would be around EUR 11 million versus 2022.

Operating cash flow improved significantly to around EUR 12 million due to the strong operational performance and enhanced cash management processes (2022: EUR -0.5 million).

Jens Amail, CEO of SNP, comments that “2023 was a successful year for SNP. More and more customers and partners put their trust in our solutions, and thanks to the incredible work of our global team we made strong operational progress in all critical areas. Global market leaders like E.ON, TE Connectivity and Würth decided to strategically partner with SNP. The software share of our business increased, our ecosystem is thriving and we show strong growth in our international markets. In addition, I am particularly pleased with the results we have achieved in earnings and operating cash flow, in spite of currency headwind and other one-off effects. Based on this foundation we will continue to execute our operational plan to address the high demand we see in the market, and we optimistically look into 2024 and beyond.”

The figures are based on preliminary and unaudited Group figures. The company will publish the audited annual financial statements and a forecast for the current fiscal year on March 27, 2024.

About SNP

SNP (ticker: SHF.DE) helps companies worldwide to unlock the full potential of their data and shape their own tailored journey towards a digital future. SNP’s Data Excellence Platform CrystalBridge and the BLUEFIELD approach have set a comprehensive industry standard for restructuring and modernizing SAP systems faster and more securely while harnessing data-driven innovations in the cloud.

The company works with more than 3,000 customers of all sizes and in all industries worldwide, including 20 of the DAX 40 and 103 of the Fortune 500. The SNP Group has more than 1,400 employees worldwide at over 35 locations in 15 countries. The company is headquartered in Heidelberg, Germany, and generated preliminary revenues of EUR 203 million in the 2023 fiscal year.

More information is available at www.snpgroup.com 

Contact person at SNP

Marcel Wiskow
Director lnvestor Relations
Phone: +49 6221 6425-637
Email: marcel.wiskow@snpgroup.com
presse@snpgroup.com