Mar 26, 2020

Final business figures for the USU Group for 2019 and outlook for 2020

In fiscal year 2019, the USU Group (USU Software AG) increased consolidated sales by 5.7% to EUR 95.6 million.  The main drivers were software license business with growth of 12.8% and an increase in maintenance and SaaS sales of 10.7%.

In addition to increased domestic business, international business also grew by 9.1% to MEUR 26.5.  In 2019, foreign business accounted for 27.7% of consolidated revenues (2018: 26.8%).

As part of the expansion of high-margin software licensing and SaaS business, the USU Group significantly increased its profitability in fiscal year 2019 as against the previous year.  USU increased EBITDA by 80.2% year-on-year to EUR 9.9 million (2018: EUR 5.5 million).

As a result of the increase in profits, the USU Group's equity increased from EUR 60.2 million as of December 31, 2019. With total assets of EUR 104.5 million, the equity ratio as of the 2019 balance sheet date was 57.6%.  This means that the USU Group continues to enjoy extremely solid financing with extensive free liquidity and no liabilities to banks.

For the current year, the Management Board - before considering the possible effects of the Covid 19 crisis - expects to significantly increase consolidated sales and earnings again in 2020 with planned sales of EUR 102-105 million and a simultaneous increase in adjusted EBIT to EUR 7.5-10 million.  At the same time, the Management Board confirms the medium-term planning for the USU Group, which includes average organic sales growth of 10% for the coming years and an expansion of the operating margin based on adjusted EBIT to 13% - 15% by 2024.  The financial forecast does not include any effects of the global Covid-19 crisis due to the uncertain scenarios and their effects on license and consulting sales.  Even if the current situation deteriorates significantly, the Management Board expects a positive Adjusted EBIT for the fiscal year 2020.

These are the key details at a glance:

  • Sales increase of 5.7% to 95.6 million Euro
  • Disproportionate expansion of software licensing business and SaaS revenues
  • Consolidated net income quintupled to EUR 5.3 million compared with the previous year
  • Adjusted EBIT increases by 50.9% to EUR 6.2 million
  • High equity ratio of 57.6% shows extremely solid financing
  • Plans call for further revenue growth and earnings improvement and a positive adjusted EBIT even if the current situation regarding Covid-19 deteriorates

Read on in our press release on the USU website.


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