Figures and targets confirmed / Higher dividend

Wessling, March 16, 2020 – Mensch und Maschine Software SE (MUM - ISIN DE0006580806), a CAD/CAM specialist company, during the annual accounts press conference today confirmed the record 2019 results which had been disclosed on February 11, with even higher final figures and dividend proposal than preliminarily published. Accordingly the ambitious targets for 2020 and 2021 with sustainable sales and profit growth and rising dividends have been confirmed.

 

Sales increased to EUR 245.94 mln (PY: 185.40 / +33% or +25% organic), with EUR 75.08 mln (PY: 55.73 / +35%) from M+M Software and EUR 170.86 mln (PY: 129.67 / +32%) from VAR Business. Operating profit EBIT grew to EUR 27.19 mln (PY: 19.66 / +38% or +25% organic), with EUR 17.37 mln (PY: 13.21 / +31%) from Software and approx. EUR 9.82 mln (PY: 6.45 / +52%) from VAR Business.

 

Net profit after minority shares increased by +43% (or +35% organic) to EUR 16.67 mln (PY: 11.69), or 99 Cents (PY: 71.5) per share. Operating cash flows showed the highest increase to the preliminary EUR 24.4 mln or 145 Cents/share and achieved a new record amount of EUR 26.35 mln (PY: 15.23 / +73%) or 157 Cents/share.

 

Management will propose to the annual shareholders’ meeting on May 13 to pay a dividend increased by 31% to 85 Cents (PY: 65) instead of 83 Cents as preliminarily announced, again including the option to be paid out in cash or as a share dividend. 

 

CEO Adi Drotleff again confirmed the ambitious targets: ‘The development during the past years shows that M+M’s business model is highly scalable, and that cost management, optimized for sustainable profitable growth, is working successfully. Our clear future target is to continue this sustainable profitable growth. For 2020/21 we aim for +10-12% annual sales increase, combined with 18-24 Cents more earnings per share (EPS) p.a. and 15-20 Cents p.a. more dividend. In 2020 we expect growth in the first half year, before the end of Autodesk’s maintenance to subscription offer, to be significantly stronger than in the second half. Currently foreseeable impacts from the corona crisis on the M+M business, mainly in the areas of CAM and Training, are already included in this guidance, and we will continue to pay due attention to the further development.’