USU Group announces figures for 3rd quarter
USU Software AG (USU Group) significantly increased its profitability compared to the previous year. Earnings before interest, taxes, depreciation and amortization ("EBITDA") rose 65.6% from EUR 1.9 million in the third quarter of 2018 to EUR 3.2 million in Q3/2019, while earnings before interest and taxes ("EBIT") rose 51.4% to EUR 1.8 million. Consolidated net income increased by 149.5% to € 2.4 million in the reporting quarter.
The main growth driver was the increase in license revenues, which increased significantly in the third quarter of 2019 by 43.9% to 4.1 million Euro compared to the previous year to 4.1 million Euro. In total, Group sales improved by 5.9% to 23.8 million euros compared to the strong prior-year quarter.
On a nine-month basis, USU generated sales of EUR 68.7 million, an increase of 6.9% over the previous year. USU also benefited from the further increase in foreign business, which rose by 7.3% to 19.1 million euros. Accordingly, the share of foreign business in Group sales increased slightly in the first nine months of 2019 to 27.8% (Q1-Q3/2018: 27.7%). Thanks to the successful conclusion of contracts, USU increased license revenues by 32.3% year-on-year to EUR 10.4 million (Q1-Q3/2018: EUR 7.8 million).
These are the most important details at a glance:
- Revenue growth of 5.9% in Q3/2019
- License revenues up 44%
- Adjusted EBIT increases by more than 40%
- Sales increased by 6.9% over 9 months
- Adjusted 9-month EBIT increases by 58.4%
- Expected risk factors burden Q4/2019
- Sales and earnings planning adjusted
Read more in our press release on the USU website.