Serviceware SE with sound business development during the first nine months of 2021/2022 despite economic slowdown

  • Successful in winning new customers nationally and internationally
  • High demand especially for platform modules to analyse costs and increase the efficiency of service processes
  • SaaS/Service sales revenues rise significantly and disproportionately by 19.6 percent to EUR 35.2 million
  • Further cross-selling potential leveraged
  • High number of tests and pre-contractual trials illustrates future business potential

Idstein, 28 October 2022 Serviceware SE ("Serviceware", ISIN DE000A2G8X31) was able to win and implement a large number of projects with national and international customers during the first nine months of fiscal 2021/2022 despite the overall economic slowdown. The new customers include a steadily growing number of large companies and groups. As part of its expansion strategy, Serviceware is currently intensifying its sales activities, which are also resulting in an increasing number of test installations and pre-contractual trials. Serviceware continues to tap cross-selling potentials and leverage synergies. More than half of the new customers decide to use two or more modules from the ESM platform of Serviceware. The software solutions for the management of IT and shared services, Serviceware Financial and Serviceware Performance, continue to be in a particularly high demand. During the reporting period, a US mineral oil company, a German big bank and a technology company from Austria opted, among others, in favour of modules of the ESM platform.

The ESM platform, with which Serviceware has a strong offering for all services, was further enhanced during the reporting period. Releases took place for the Serviceware Financial, Serviceware Resources and Serviceware Processes modules during the third quarter. With the new version Serviceware Processes 7, which has been delivered since August 2022, it is now even easier to assign case instance entitlements to different service teams tailored to their needs and data protection requirements. Furthermore, the Solution Bot was added to the ESM platform during the reporting period. By means of intent recognition, it can be used to answer queries in chats automatically thanks to artificial intelligence.

During the first nine months, Serviceware was able to increase its sales revenues in the SaaS/Service business unit significantly and disproportionately by 19.6 percent from EUR 29.5 million to EUR 35.2 million in line with its strategy. During the third quarter, SaaS/Service sales revenues reached EUR 12.5 million, the highest level in the company's history. Currently, SaaS/Service revenues account for 57 percent of total sales revenues, compared to around 48 percent during the same prior-year period. Total sales revenues rose by 1.3 percent to EUR 61.8 million during the first nine months (prior year: EUR 61.0 million). This represents a clear slowing down in the course of the year. The underlying reasons were the downturn in the global economy due to the war in Ukraine, significantly higher energy prices and disruptions in the global supply chains, which led to a strong restraint in demand by customers. Earnings were further reduced by high upfront costs for the expansion of the SaaS/Service business unit, which Serviceware expects to have a significant positive impact on earnings in the coming quarters. After the first three quarters, the EBITDA was around EUR -0.6 million after an EBITDA of EUR +1.6 million had been achieved during the same period of the previous year. Despite the economic slowdown, Serviceware expects sales revenues for the full year to remain at the prior-year level and the EBITDA to be between EUR -2.5 million and EUR +0.5 million.

Serviceware sees the current economic environment as a temporary phase of weakness within a fundamentally intact global trend towards digitalisation, increased efficiency and quality improvement of service processes. Serviceware has an intact business model and, with the ESM platform, it is excellently positioned on the market to further expand market shares and support customers in the digitalisation of their service processes. Serviceware is, therefore, positive about its medium to long-term prospects on the market.

The 9-month report 2021/2022 is available for downloading 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 5 of the 7 largest German companies. The headquarters of the company are in Idstein, Germany. Serviceware employs more than 500 employees at 14 international sites.

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