USU Software AG announces preliminary figures for 2019
- Revenue rises by 6% to EUR 95.6 million
- Another considerable upturn for international business, up 9% at EUR 26.5 million
- Strong license and SaaS business form basis for above-average profit growth
- Strong growth in adjusted EBIT, up 51% at EUR 6.2 million
Preliminary, unaudited figures show that USU Software AG (hereinafter: “USU”, ISIN DE000A0BVU28) boosted its consolidated revenue by 6% year on year to EUR 95.6 million in fiscal year 2019 (2018: EUR 90.5 million).
USU particularly benefited from the recovery in international business, which saw above-average growth of 9% against the previous year to EUR 26.5 million (2018: EUR 24.2 million). The main driver behind this revenue growth was the software license and SaaS business. As part of the rise in high-margin license and SaaS revenue, preliminary figures show that USU generated higher profit growth as a proportion of revenue in 2019.
After adjustment for non-recurring, acquisition-related effects, the USU Group generated adjusted earnings before interest and taxes (adjusted EBIT) of EUR 6.2 million (2018: EUR 4.1 million), representing a 51% increase. At the same time, USU generated earnings before interest and taxes (EBIT) of EUR 4.0 million (2018: EUR 2.7 million). Net financial income was almost at break even in fiscal 2019 (2018: EUR 0.1 million). Furthermore, USU generated tax income in the fiscal year 2019, with income taxes amounting to EUR 1.2 million (2018: -1.9 million). The tax income is chiefly a result of capitalizing deferred taxes on tax loss carryforwards.
After taxes and interest, consolidated net profit came to EUR 5.2 million (2018: EUR 1.0 million). USU increased its earnings per share accordingly to EUR 0.50 in the Group as a whole (2018: EUR 0.09). The company will publish the final figures for 2019, its dividend proposal and guidance for 2020 on March 26, 2020.