EQS-News: Mensch und Maschine Software SE presenting Q1 Report 2023

Another best quarter ever in M+Ms history
- Sales +21% / Gross profit +12.5% / Profit +18%
- Profit target for full year 2023 clearly underlined

Wessling, April 20, 2023 Mensch und Maschine Software SE (MUM - ISIN DE0006580806), a CAD/CAM/BIM specialist company, started 2023, as in the previous year, with the best quarter ever in M+Ms history, achieving double digit sales and profit growth.

Group sales amounted to EUR 103.06 mln (PY: 85.41 / +21%), with EUR 29.10 mln (PY: 24.68 / +18%) from M+M Software and EUR 73.96 mln (PY: 60.73 / +22%) from VAR Business, where the end of Autodesk 3YR contract discounting in January created a final sales peak. Group gross profit climbed to EUR 47.09 mln (PY: 41.85 / +12.5%), with EUR 25.84 mln (PY: 22.51 / +15%) from M+M Software and EUR 21.25 mln (PY: 19.35 / +10%) from VAR Business.

Operating profit EBIT increased to EUR 15.81 mln (PY: 13.38 / +18%), with EUR 9.19 mln (PY: 7.65 / +20%) from M+M Software and EUR 6.62 mln (PY: 5.73 / +16%) from VAR Business. Net profit after minority shares grew by +18% to EUR 9.66 mln (PY: 8.34), or 58 Cents (PY: 49) per share.

Operating cash flows reached an absolute record at EUR 24.59 mln (PY: 11.69) or 148 Cents (PY: 69) per share, benefiting from very high sales just before the end of 2022, which shifted high amounts of cash flows into the new year.

CFO Markus Pech happily states: After the strong start of the year we believe that the 164-181 Cents per share net profit target from the annual report 2022 is clearly underlined. Accumulated over the two years 2022/23E this would result in +38-55 Cents surplus or +14-20% p.a. - exactly matching the 2YR guidance from annual report 2021. 

Chairman Adi Drotleff adds: Assuming we achieve this target, we plan to increase the dividend to 155-165 Cents, while in the annual shareholders meeting on May 11, 2023, the dividend proposal for fiscal year 2022 will be 140 Cents.