Serviceware SE starts fiscal 2021/2022 with a record quarter

  • Increase in sales revenues by 8.6 percent to EUR 21.0 million
  • SaaS/Service sales revenues with disproportionately high growth to EUR 11.0 million (+19.7 percent)
  • Significant increase in demand for modules to improve the quality of service processes
  • Annual forecast confirmed after good Q1

Idstein, 29 April 2022 Serviceware SE (“Serviceware”, ISIN DE000A2G8X31) has made a successful start to the 2021/2022 fiscal year, posting record sales revenues in the first quarter (December to February). Earnings rose versus the prior year period by 8.6 percent from EUR 19.4 million to EUR 21.0 million. The driver of this increase in sales revenues was once again the Saas/Service business unit: sales revenues increased here by 19.7 percent from EUR 9.2 million to now EUR 11.0 million. 
The share of SaaS/Service revenues in total revenues improved from 47.4 percent in the first quarter of 2020/2021 to now 52.2 percent. For the EBITDA a black zero was reached (PY: EUR 0.8 million). High upfront costs for the expansion of the SaaS/Service business unit had a negative impact on earnings in the first quarter. Thanks to these investments, Serviceware expects clearly positive effects on earnings in the coming quarters.

During the reporting period, Serviceware was able to achieve further success as part of its internationalisation strategy and gain globally operating groups and large companies from various industries such as raw materials and finance as customers. Among others, a leading global US mineral oil company opted for the ESM platform module Serviceware Financial, and a German direct bank introduced the Serviceware Knowledge module. More and more customers are using several modules from the Serviceware portfolio. Thus, the company recorded a high demand for all modules from the ESM platform in the first quarter and was able to realise cross-selling potentials with both new and existing customers with increasing momentum. After the demand for modules to optimise service costs had increased disproportionately in the same period of the previous year due to the pandemic, the interest in modules to optimise the quality of service processes rose significantly. The Serviceware Processes and Serviceware Knowledge modules were combined particularly frequently.

Serviceware sees itself well positioned for long-term growth with its unique ESM platform. Artificial Intelligence (AI) is already used in many applications of the ESM platform. By integrating AI, service processes can be mapped even faster, more efficiently and more smoothly. Serviceware has already established a leading global position in the market at an early stage and continues to drive the digital transformation of service management with Artificial Intelligence. For example, shortly after the end of the reporting period, in March 2022, the ESM platform was expanded to include the AI-supported "Solution Bot". Thanks to this development, queries in chats can be answered automatically using Intent Recognition. The company's growth continues to be driven by long-term trends such as the digitalisation of service processes and constantly increasing demands for cost transparency. Following the successful first quarter, Serviceware confirms its forecast for the full year, according to which revenue growth of around 10 per cent and a further improvement in EBITDA (IFRS) is expected.

Dirk K. Martin, CEO of Serviceware: "We are making very good progress in acquiring large companies and corporate groups in line with our strategy and are hence satisfied with the development in the first quarter. We are experiencing a continued high demand for modules of the ESM platform and have initiated new orders during the reporting period, which were realised after the end of the first quarter. The automation of service processes is advancing at an increasing pace. Companies are increasingly willing to invest in digitalisation. However, many companies are still at the beginning of their investment cycle. With our ESM platform, we have a strong offering to support customers in the digitalisation of their service processes and to expand market shares. Especially for internationally operating companies with a high level of digital maturity and high IT budgets, there is enormous potential for savings that can be made transparent and realised with the help of the ESM platform of Serviceware. This makes agile companies fit for a changing future."
The Q1 quarterly report 2021/2022 is available for download on the website of Serviceware in the "Investor Relations" section. 

About Serviceware

Serviceware is a leading provider of software solutions for the digitalisation 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 includes the software solutions Serviceware Processes, Serviceware Financial, Serviceware Resources, Serviceware Knowledge and Serviceware Performance. All solutions can be used in an integrated manner, but also independently from one another.

Serviceware partners with customers from strategic consulting through the definition of the service strategy to the implementation of the Enterprise Service 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 17 DAX companies and five of the seven largest German companies. The headquarters of Serviceware are in Idstein, Germany. Serviceware employs more than 500 employees at 14 international sites.

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