Idstein Serviceware SE (“Serviceware”, ISIN DE000A2G8X31) has continued its good development of the previous year seamlessly in the current fiscal year 2024/2025. The first quarter was again characterized by the successful transformation of the business model from a license to a SaaS model. Sales revenues in the SaaS/Service segment rose by 30.5 percent from EUR 15.9 million to EUR 20.8 million, significantly outpacing overall sales growth. SaaS revenues account for the majority of these sales. In the first quarter alone, they rose by over 40 percent compared to the same period last year. The high order backlog shows that the conversion of Serviceware's business model is working and will be reflected by growing revenues in the future. In the first quarter, they rose by 26.0 percent from EUR 80.6 million to EUR 101.6 million. The order backlog consists mainly of residual values from existing SaaS contracts and represents already fixed future revenue. Total sales revenues went up by 11.2 percent from EUR 24.9 million to EUR 27.8 million in the first three months. In the first quarter, Serviceware again succeeded in setting new records both in total sales revenues and SaaS/Service revenues. SaaS/Service revenues accounted for 74.9 percent of total sales revenues, compared to 63.9 percent in the previous year. EBITDA improved significantly during the reporting period, rising disproportionately by 14.9 percent from EUR 0.6 million to EUR 0.7 million.
Serviceware also continued its successful international expansion. During the reporting period, Serviceware gained an international mechanical engineering and Fortune 500 group as a new customer, among others. The company has decided to use the Serviceware Platform with the Serviceware Financial and Serviceware Performance modules. In addition, the partnership with Maryville Consulting in North America resulted in a first contract with a large food group. The international order pipeline is already very strong and continues to grow dynamically. After the end of the reporting period, in April 2025, Serviceware entered the Italian market with Serviceware Financial, the software solution for IT cost management. In view of the very good growth opportunities in Germany and worldwide, Serviceware will press ahead with its internationalization and further extend its excellent market position. Among other things, the international partner network is to be expanded for this purpose. In addition, Serviceware has already taken the first steps to develop the software market in France.
Artificial Intelligence (AI) is a long-term growth driver for Serviceware. AI is already integrated throughout the modules of the Serviceware Platform. The release of the newly developed AI Process Engine as the AI-native core of the Serviceware Platform was an important milestone. The response from the market to this revolutionary process modeling software has been consistently positive. Just a few weeks after the launch of the AI Process Engine, numerous existing and new customers have already decided to use the Serviceware Platform with AI.
For the full year, Serviceware confirms its forecast of sales revenue growth of between 5 and 15 percent with a simultaneous improvement in EBIT and EBITDA. With the beginning of the fiscal year 2024/2025, Serviceware will no longer capitalize internally generated intangible assets and has started to amortize the capitalized internally generated intangible assets of the two previous years on schedule and with an effect on earnings.
Dirk K. Martin, CEO of Serviceware: “We are taking advantage of the high growth opportunities offered by SaaS and Artificial Intelligence and have invested heavily in our growth in recent years. We are now reaping the rewards for our development work and our operational success is increasingly reflected by our figures. This is something we are proud of. We have made an excellent start to the current year, and we are very confident that we will be able to continue this positive development for the year as a whole and in the following years."
The Q1 Quarterly Report 2024/2025 is available for download in the Investor Relations section.
About Serviceware
Serviceware is a provider of software solutions for the digitalization and automation of service processes (Enterprise Service Management), with which companies can increase their service quality and manage their service costs efficiently.
The Serviceware Platform consists of seamlessly integrated software solutions that can also be used independently of each other. Since 2018, Serviceware has been focusing on the potential of artificial intelligence in service management. Today, AI is the central innovation factor of the Serviceware Platform, which is constantly being further developed in the company's own AI competence center in cooperation with TU Darmstadt.
Serviceware partners with customers from strategic consulting through the definition of the service strategy to the implementation of the Serviceware Platform. Further components of the portfolio are safe and reliable infrastructure solutions as well as managed services.
Serviceware has more than 1,000 customers worldwide from various business sectors, including 18 DAX companies, as well as 5 of the 7 largest German companies. The head office of Serviceware is in Idstein, Germany. Serviceware employs more than 450 people at 14 international locations.
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