Bad Camberg, 24 April 2020. Serviceware SE (“Serviceware”, ISIN DE000A2G8X31) can report about a good start into fiscal 2019/2020. During the 1st quarter (until 29.2.2020) the growth course was continued with an increasing focus on Saas/Service. During the reporting period the balanced business model of Serviceware has again proven its worth against the backdrop of the emerging economic slowdown.
The demand for the modules of the Serviceware Platform Serviceware Financial (cost analysis of service processes and budgeting) and Serviceware Performance (corporate planning and management) has risen strongly. During the 1st quarter of the fiscal year the sales revenues were in the mid double-digit percentage range above the comparable prior year in these fields. After the end of the quarter the positive trend has continued: at present Serviceware places in these fields around 50 percent more offers with potential customers than during the prior year period. Compared to the growth pace of the cost and budgeting-oriented modules, the demand for modules for the quality optimisation of service processes remains currently, as expected, slightly behind.
Total sales revenues during the first quarter 2019/2020 of EUR 17.3 million were slightly above the prior year value of EUR 16.4 million. SaaS/Service sales revenues increased to EUR 7.3 million after previously EUR 5.6 million. The SaaS/Service share in sales revenues reached during the reporting period already 42 percent after 34 percent during the prior year period and 36 percent during the full year 2018/2019. The EBIT, adjusted for additional expenses made in conformity with the strategy with funds from the IPO, amounted to EUR 0.9 million. During the prior year period the adjusted EBIT added up to EUR 2.1 million. The unadjusted EBIT amounted to EUR -0.6 million after EUR 0.9 million. During the quarter several large-scale orders were initiated which will be signed after the end of the period and hence be recognised as revenues and income during the coming quarters. A large US group has been won as a customer for Serviceware Performance and with a German DAX group one of the largest licence deals in the Serviceware history has been signed for Serviceware Financial.
The cooperation with the Technical University of Darmstadt in the field of Artificial Intelligence has developed very successfully. The “Content Creation Assistant”, which has resulted from the cooperation as a first Serviceware product, was completed at the end of the 1st quarter and has since been offered by Serviceware as an additional fee-based module of Serviceware Knowledge. The first customers have in the meantime already ordered the new product.
For the further course of the fiscal year Serviceware considers itself to be robustly positioned. The current COVID-19 pandemic has different impacts on the different fields of the operating business of Serviceware. Whilst a curbing of the demand for some products is recorded, a significant intensification in demand is seen for other products. On balance, the long-term intact trend towards the digitisation of service processes at companies, the unique integrated and modular ESM platform of Serviceware and excellent financial resources with liquid funds in the amount of just over EUR 40 million constitute the basis for a successful corporate development during the coming years.
Serviceware is one of the leading providers of software solutions for the digitization and automation of service processes (Enterprise Service Management), enabling companies to increase service quality and efficiently manage service costs.
The core of the portfolio is the Serviceware platform which includes the software solutions Serviceware Processes (helpLine), Serviceware Financial (anafee), Serviceware Resources (Careware), Serviceware Knowledge (SABIO) and Serviceware Performance (cubus outperform). All solutions can be integrated but can also be used independently of each other.
Serviceware supports customers from delivering strategic consulting over defining service strategies all the way to implementation with the Serviceware platform. In addition, we offer the infrastructure solutions and managed services necessary for operation.
Serviceware has more than 900 customers worldwide from various business sectors; among these are four out of the seven largest German and 12 out of DAX 30 companies. The Serviceware headquarters are located in Bad Camberg, Germany and the Company has over 480 employees at 14 national and international locations. For more information visit wwww.serviceware-se.com.
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