Serviceware SE continues its successful growth course during the first quarter of fiscal 2023/2024

• Total sales revenues in Q1 grow by 13.4 percent to EUR 24.9 million

• Disproportionately high increase in SaaS/Service sales revenues of 20.7 percent to EUR 15.9 million

• EBITDA turns around from EUR -1 million to EUR +0.6 million compared to the same period last year

• Integration of Artificial Intelligence proves to be a growth driver

• Forecast for the fiscal year confirmed: Sales revenues up 5 to 15 percent, significant improvement in EBIT and EBITDA

Idstein Serviceware SE ("Serviceware", ISIN DE000A2G8X31) has continued its successful growth course during the first quarter of fiscal 2023/2024 and is now reporting a positive EBITDA again. Total sales revenues increased by 13.4 percent versus the same prior year period. Consequently, sales revenues totalled EUR 24.9 million between December 2023 and February 2024 (prior year: EUR 22.0 million). The SaaS/Service business developed disproportionately positively. Sales revenues rose in this area from EUR 13.3 million to EUR 15.9 million. This corresponds to an increase of 20.7 percent. The share of SaaS/Service revenues in total sales revenues increased further to 63.9 percent (prior year: 60.0 percent). This development proves that the expansion of the SaaS business is progressing well in line with the strategy. Serviceware, therefore, expects significantly above-average growth for this business area in the coming quarters as well.

The order backlog, which is characterised by advance payments received for SaaS and Maintenance contracts, has increased by 22.2 percent to EUR 67.8 million as of 29 February 2024 versus 30 November 2023 due to the growth of the SaaS business. These are already fixed future sales revenues of Serviceware on the basis of binding contracts. 

Profitability improved significantly by more than EUR 1.5 million. The EBITDA turned from EUR -1.0 million during the first quarter of 2022/2023 to EUR +0.6 million during the first quarter of 2023/2024.

An important growth driver was the extensive use of Artificial Intelligence (AI), which is now comprehensively anchored in Serviceware modules and is also offered as an additional service. New and existing customers are utilising more and more AI functionalities. The company is also anticipating further significant sales potential in this area. During the first three months of the reporting period, Serviceware was able to continue its global growth momentum, for example, by concluding a contract with an international Fortune Global 500 company from the logistics sector. Serviceware also continued to consistently develop its Serviceware platform during the reporting period. Among other things, customers were provided with new releases in the Financial, Performance and Knowledge modules, which contained additional features with clear customer-centric benefits.

Following the good performance during the first quarter, Serviceware confirms its forecast for the year as a whole and expects sales revenue growth of 5 to 15 percent. On the earnings side, the EBITDA and EBIT are forecast to improve significantly for the current fiscal year.

Dirk K. Martin, CEO of Serviceware: "We have made a good start to the current fiscal year. Globally operating companies have opted for our services, our AI strategy is working and is further increasing the attractiveness of our entire product range. We are ideally positioned to continue our dynamic growth, provide innovative impetus for our customers and support them in the efficient digitalisation of their service processes. We are optimistic for the full year 2023/2024 and beyond."

The Q1 Quarterly Report 2023/2024 is available for download in the Investor Relations section.

About Serviceware

Serviceware is a leading 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 470 people at 14 international locations.

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