OTRS AG
ISIN: DE000A0S9R37
WKN: A0S9R3
28 June 2024 09:00AM

EQS-News: OTRS AG: Sustainable revenue growth in the 2023 financial year underpins strategic focus

OTRS AG · ISIN: DE000A0S9R37 · EQS - Company News
Country: Germany · Primary market: Germany · EQS NID: 1932517

EQS-News: OTRS AG / Key word(s): Annual Report
OTRS AG: Sustainable revenue growth in the 2023 financial year underpins strategic focus

28.06.2024 / 09:00 CET/CEST
The issuer is solely responsible for the content of this announcement.


OTRS AG: Sustainable revenue growth in the 2023 financial year underpins strategic focus

  • Revenues increase by 4.0% to EUR 12,312 thousand (2022: EUR 11,839 thousand)
  • Strategic focus on recurring revenues — increase of 3.9% to EUR 11,158 thousand (2022: EUR 10,743 thousand)
  • EBITDA down to minus EUR 340 thousand due to investments (2022: EUR 1,270 thousand)
  • Outlook 2024: Revenue growth to around EUR 12.6 million and earnings at the previous year's level expected

Oberursel, 28 June 2024: OTRS AG (ISIN: DE000A0S9R37), the manufacturer and world's largest service provider for the OTRS service management suite, today presents its figures for the 2023 financial year. In the past reporting year, the company once again achieved slight revenue growth of around 4.0% to EUR 12,312 thousand (2022: EUR 11,839 thousand) despite the challenging macroeconomic developments and was thus in line with the forecast (EUR 12.3 million to EUR 12.7 million).

The growth is mainly driven by a further increase in recurring revenues. These rose by 3.9% to EUR 11,158 thousand (2022: EUR 10,743 thousand). Recurring revenues include annual contracts with access to OTRS software in various forms as well as security, software updates and support, accounting for 90.6% of total revenue at OTRS (2022: 90.7%). Due to the strategic orientation of OTRS AG, the focus is on developing and increasing recurring revenues. Revenues from other services such as consulting and custom engineering are to be seen as supporting auxiliary revenues for the development of recurring revenues. Revenue from services increased by 7.2% to EUR 1,144 thousand in the reporting year (2022: EUR 1,067 thousand).

Earnings before interest, taxes, depreciation and amortization (EBITDA) decreased to minus EUR 340 thousand in the 2023 financial year after EUR 1,270 thousand in the previous year. Due to the negative result for the period and early invoicing at the end of 2022 concerning the introduction of a new ERP program at the beginning of 2023, operating cash flow was minus EUR 1,211 thousand after plus EUR 1,167 thousand in the previous year. The invoices brought forward had led to an increase in deferred income in the 2022 financial year, which has now fallen back to a normal level and thus had a corresponding negative impact on operating cash flow. Earnings before interest and taxes (EBIT) amounted to minus EUR 1,573 thousand compared to EUR 488 thousand in the previous year. Net profit for the year amounted to minus EUR 1,079 thousand in the reporting year (2022: EUR 335 thousand). This corresponds to earnings per share of minus EUR 0.56 (2022: EUR 0.17). The reasons for the decline in EBITDA, EBIT and net profit for the year were the high expenses in the current financial year for the recruitment of new employees, the introduction of an ERP system and the partnership with Gartner for market research.

André Mindermann, CEO of OTRS AG: "In a challenging environment, we were able to close the financial year in line with our expectations. We made considerable investments in human resources and significantly modernized our OTRS platform. Artificial intelligence also plays a central role in this. Innovative solutions such as STORM powered by OTRS show how we support companies in efficiently managing security incidents and protecting themselves against the serious consequences of cyber attacks. With this focus, we are ideally equipped to master future challenges and exploit new opportunities."

Outlook 2024
Despite the challenging overall economic situation, the Management Board is planning revenue growth of around 2% to around EUR 12.6 million for the 2024 financial year, continuing the course of continuous, moderate growth. The Management Board also expects earnings for the current financial year to be on par with the previous year. "Last year, we made targeted investments in expanding our expertise. Now we are concentrating on strengthening and consolidating our available human resources to take advantage of the expected efficiency gains," adds André Mindermann.

Annual Report
The Annual Report 2023 of OTRS AG is published at otrs.com.


About OTRS Group
OTRS Group is the manufacturer and the world’s largest provider of the enterprise service management suite OTRS. It offers companies industry-independent software solutions for structured communication in customer service, IT service management and security management. In addition to the core product OTRS, the security solution STORM ensures efficient cybersecurity incident management and transparent documentation in accordance with standards such as ISO 27001.

Among its customers are Lufthansa, Porsche, BSI (Federal Office for Security in Information Technology), Helios Kliniken, Haribo, Ameropa und TUI Cruises. The company consists of OTRS AG and its five subsidiaries OTRS Inc. (USA), OTRS S.A. de C.V. (Mexico), OTRS Asia Pte. Ltd. (Singapore), OTRS do Brasil Soluções Ltda. (Brazil) and OTRS Magyarország Kft. (Hungary). OTRS AG is listed on the basic board of the Frankfurt Stock Exchange.

For more information, see www.otrs.com.


Contact:
OTRS AG
Zimmersmuehlenweg 11
D-61440 Oberursel
Phone: +49 (0)6172 681988-0
Fax: +49 (0)9421 56818 18
E-Mail: ir@otrs.com
Internet: www.corporate.otrs.com

Investor Relations
CROSS ALLIANCE communication GmbH
Susan Hoffmeister
Bahnhofstr. 98
D-82166 Graefelfing/Munich
Phone: +49 (0) 89 125 09 03-30
E-Mail: sh@crossalliance.de
Internet: www.crossalliance.de



28.06.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.eqs-news.com


Language: English
Company: OTRS AG
Zimmersmühlenweg 11
61440 Oberursel
Germany
Phone: 06172 - 681 988 0
Fax: 09421 - 5681818
E-mail: enjoy@otrs.com
Internet: www.otrs.com
ISIN: DE000A0S9R37
WKN: A0S9R3
Listed: Regulated Unofficial Market in Berlin, Frankfurt (Basic Board), Stuttgart
EQS News ID: 1932517

 
End of News EQS News Service

1932517  28.06.2024 CET/CEST

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Boersengefluester.de (BGFL) provides an overview of the key figures on sales, earnings, cash flow and dividends to help you better assess the fundamental development of the respective companies. All information is entered manually in our database - the source is the respective annual reports. All estimates for future figures are provided by BGFL.

The most important financial data at a glance
  2018 2019 2020 2021 2022 2023 2024e
Sales1 8,31 9,80 9,71 11,04 11,84 12,31 12,30
EBITDA1,2 0,97 1,61 2,31 2,40 1,27 -0,34 -0,39
EBITDA-Margin3 11,67 16,43 23,79 21,74 10,73 -2,76 -3,17
EBIT1,4 0,58 1,12 1,76 1,71 0,49 -1,57 -1,65
EBIT-Margin5 6,98 11,43 18,13 15,49 4,14 -12,75 -13,42
Net Profit (Loss)1 0,45 0,78 1,22 1,19 0,34 -1,08 -1,20
Net-Margin6 5,42 7,96 12,56 10,78 2,87 -8,77 -9,76
Cashflow1,7 1,01 0,79 1,46 2,51 1,17 -1,21 0,00
Earnings per share8 0,23 0,41 0,63 0,62 0,17 -0,56 -0,63
Dividend per share8 0,00 0,00 0,07 0,15 0,10 0,00 0,00
Quelle: boersengefluester.de and Company information
Explanation

1 in Mio. Euro; 2 EBITDA = Earnings before interest, taxes, depreciation and amortisation; 3 EBITDA in relation to sales; 4 EBIT = Earnings before interest and taxes; 5 EBIT in relation to sales; 6 Net profit (-loss) in relation to sales; 7 Cashflow from operations; 8 in Euro; Source: boersengefluester.de

Auditor: Veda

All relevant valuation ratios, dates and other investor information on your share at a glance. Good to know: All data comes from boersengefluester.de and is updated daily. This means you are always up to date. You can get brief explanations of the key figures by moving the cursor or mouse over the relevant field.

INVESTOR-INFORMATION
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OTRS
WKN ISIN Legal Type Marketcap IPO Recommendation Plus Code
A0S9R3 DE000A0S9R37 AG 32,77 Mio € 23.12.2009 Halten 9F2C5HVR+F9
* * *
PE 2025e PE 10Y-Ø BGFL-Ratio Shiller-PE PB PCF KUV
63,33 23,18 2,73 156,88 10,47 -27,06 2,66
Dividends
Dividend '2022
in €
Dividend '2023
in €
Dividend '2024e
in €
Div.-Yield '2024e
in %
0,10 0,00 0,00 0,00%
Financial calendar
Annual General Meeting Q1-figures Q2-figures Q3-figures Annual press conference
15.08.2024 31.10.2024 28.06.2024
Performance
Distance 60-days-line Distance 200-days-line Performance YtD Performance 52 weeks IPO
Last Price (EoD)
-0,58%
17,10 €
ATH 17,60 €
+61,75% +149,23% +178,05% +187,40% +208,11%

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