23.07.2018
Mensch und Maschine Software SE DE0006580806
DGAP-News: Mensch und Maschine Software SE discloses Half year report 2018
DGAP-News: Mensch und Maschine Software SE / Key word(s): Half Year Results
Mensch und Maschine Software SE discloses Half year report 2018
23.07.2018 / 08:57
The issuer is solely responsible for the content of this announcement.
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Very strong Q2 accelerating growth
- EBITDA +29% / Net profit +37% / both segments growing
- Ambitious 2018 targets very achievable
Wessling, July 23, 2018 - Mensch und Maschine Software SE (MUM - ISIN
DE0006580806), a CAD/CAM specialist company, further accelerated its growth
due to a very strong Q2: After +22% in Q1, EBITDA in Q2 increased by +40%,
leveraging half year net profit by as much as 37%. Growth drivers were both
M+M's proprietary Software around its flagship CAM offerings as well as the
VAR segment, where many Autodesk maintenance contracts were converted to
subscription, as expected.
H1 group sales increased to EUR 94.46 mln (PY: 83.59 / +13%), with M+M
Software contributing EUR 27.95 mln (PY: 25.22 / +11%) and the VAR Business
contributing EUR 66.50 mln (PY: 58.37 / +14%). Q2's +20% growth was
significantly above Q1's +6.8%, with aid from both segments: Software
improved from +9.3% to +12%, VAR Business from +5.9% to +24%. Half year
group gross margin increased to EUR 52.39 mln (PY: 48.20 / +8.7%), with EUR
27.35 mln (PY: 24.54 / +11%) from the Software segment and EUR 25.04 mln
(PY: 23.67 / +5.8%) from VAR Business.
Operating profit EBITDA before depreciation, amortization, interest and
taxes jumped to a H1 record EUR 11.81 mln (PY: 9.13 / +29%), with EUR 7.90
mln (PY: 6.35 / +24%) from Software and EUR 3.91 mln (PY: 2.77 / +41%) from
the VAR Business. As for sales, the strong Q1 to Q2 acceleration is
supported by both segments: Software from +17% to +34%, VAR Business from
+33% to +59%. Net profit after minority shares soared by a sound +37% to EUR
6.09 mln (PY: 4.45), or 37 Cents (PY: 27) per share. Operating cash flows
increased to a new H1 record EUR 8.96 mln (PY: 7.65 / +17%).
CEO Adi Drotleff is very happy about the results: 'The ambitious EBITDA
target range of EUR 22-23 mln (PY: 18.04 / +22% to +28%), given in the
annual report 2017, should be very achievable after H1/2018, particularly as
in Q3 we once more expect strong VAR Business sales from conversions of
Autodesk maintenance to subscription 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 (PY: 50 / +24% to +36%).'
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23.07.2018 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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Archive at www.dgap.de
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Language: English
Company: Mensch und Maschine Software SE
Argelsrieder Feld 5
82234 Wessling
Germany
Phone: +49 (0)815 3933-0
Fax: +49 (0)815 3933-100
E-mail: [email protected]
Internet: www.mum.de
ISIN: DE0006580806
WKN: 658 080
Indices: Scale 30
Listed: Regulated Unofficial Market in Berlin, Dusseldorf,
Frankfurt (Scale), Hamburg, Munich (m:access), Stuttgart,
Tradegate Exchange
End of News DGAP News Service
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706835 23.07.2018
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