USU Software AG announces dividend proposal for 2019 and guidance for 2020
As a standalone company, USU Software AG (ISIN DE000A0BVU28) reported net profit in accordance with the German Commercial Code (HGB) of EUR 6,066 thousand in fiscal 2019 (2018: EUR 4,318 thousand). This corresponds to a 40.5% increase in profit as against the previous year. In accordance with the company’s communicated dividend policy, whereby the dividend should never be less than in the previous year and should amount to roughly half the profit generated, the Management Board and the Supervisory Board of USU Software AG are proposing a dividend distribution equal to the previous year’s level of EUR 0.40 per share for fiscal 2019 (2018: EUR 0.40).
USU Software AG and its subsidiaries (hereinafter referred to as “USU” or the “USU Group”) reported IFRS consolidated revenue of EUR 95,630 thousand in fiscal 2019, up 5.7% on the previous year (2018: EUR 90,487 thousand). At the same time, USU’s earnings before interest and taxes adjusted for extraordinary effects due to acquisitions (adjusted EBIT) rose by 50.9% year-on-year to EUR 6,226 thousand (2018: EUR 4,125 thousand).The Management Board expects a further significant expansion in consolidated revenue and consolidated earnings in the current year before taking into account the potential impact of the Covid-19 crisis. Accordingly, the Management Board is forecasting an increase in consolidated revenue to between EUR 102 million and EUR 105 million in 2020, accompanied by a rise in adjusted EBIT to between EUR 7.5 million and EUR 10 million. The Management Board is also confirming the USU Group’s medium-term planning, which includes average organic revenue growth of 10% in the next few years and an increase in the operating margin on adjusted EBIT to 13%-15% by 2024.
These forecasts do not include any consequences of the global Covid-19 crisis, as the scenarios and their impact on license and consulting revenues are unclear. However, the Management Board anticipates positive adjusted EBIT in fiscal 2020 even in the event of a significant deterioration in the current situation.