USU Group further increases sales and earnings in the 3rd quarter
USU Software AG (USU Group) again achieved significant sales growth of 8.1% year-on-year in the third quarter of 2020. The main growth drivers were the very strong cloud and maintenance business and above-average consulting revenues.
Over the first nine months of fiscal 2020, USU Software AG’s consolidated sales (IFRS) increased by 13.3% as against the previous year to EUR 77.9 million (Q1-Q3 2019: EUR 68.7 million). USU primarily benefited from its domestic business, which expanded by 16.7% to EUR 56.9 million (Q1-Q3 2019: EUR 49.6 million). However, foreign business also grew by 9.6% year-on-year with a share of sales of EUR 21.0 million (Q1-Q3 2019: EUR 19.1 million), with foreign markets increasing their SaaS ratio for new contracts much more significantly and also being hit harder by the Corona pandemic.
For the current final quarter of 2020, the Management Board anticipates growth in sales compared to the previous quarter and positive adjusted EBIT. One key indicator supporting this forecast is the record level of Group-wide orders on hand, which grew by 17.6% to EUR 60.4 million in the reporting quarter (September 30, 2019: EUR 51.4 million). The Management Board is also confirming the USU Group’s medium-term planning, which includes average organic sales growth of 10% in the next few years and an increase in the operating margin on adjusted EBIT to between 13% and 15% by 2024.
The full nine-month report for 2020 is available for download on USU Software AG’s website.
These are the most important details at a glance:
- Sales growth of 8.1% in Q3 2020
- High share of the SaaS business in new contracts
- Adjusted EBIT of over EUR 1 million as planned
- Sales for first nine months rise by 16.1%
- Adjusted nine-month EBIT up 80.2%
- New record for orders on hand
- Sales and earnings planning confirmed
Read all details in our press release on the USU website.