A number of major projects expected for the fourth quarter of 2018 - primarily in the United States - will most likely not be completed during the current quarter of 2018. In spite of the advanced stage of contract negotiations, the Management Board expects that the final contract awards will not be made until 2019. The Management Board has modified its planning for 2018 to reflect this development because the projects have a total license volume of EUR2 million to EUR3 million. The board now projects Group-wide sales of EUR89 million to EUR91 million. Adjusted EBIT is expected to total EUR4 million to EUR5 million.

"We have added a number of well-known customers in recent years in the United States," said Bernhard Oberschmidt, the CEO of USU Software AG. "We are also in the process of conducting positive negotiations with new potential customers. But the formal decision-making process is taking longer than expected."

Given the advanced nature of the negotiations, the Management Board expects that contracts for a majority of the projects will be awarded in 2019. At the same time, growth in the IT Service Management segment was significantly expanded. As a result, the target figures for 2019 include an increase in total sales to EUR98 million to EUR101 million and a rise in adjusted EBIT to EUR7.5 million to EUR10 million.

This company announcement is also available for download at https://www.usu.de.

 

Contact:
USU Software AG
Investor Relations
Falk Sorge
Spitalhof
D-71696 Möglingen
Tel.: +49 (0) 71 41 - 48 67 351
Fax: +49 (0) 71 41 - 48 67 108
E-Mail: [email protected]

USU Software AG
Corporate Communications
Dr. Thomas Gerick
Tel.: +49 (0) 71 41 - 48 67 440
Fax: +49 (0) 71 41 - 48 67 909
E-Mail: [email protected]