OTRS AG
EQS-News: OTRS AG
/ Key word(s): Annual Report
OTRS AG: Sustainable revenue growth in the 2023 financial year underpins strategic focus
Oberursel, 28 June 2024: OTRS AG (ISIN: DE000A0S9R37), the manufacturer and world's largest service provider for the OTRS service management suite, today presents its figures for the 2023 financial year. In the past reporting year, the company once again achieved slight revenue growth of around 4.0% to EUR 12,312 thousand (2022: EUR 11,839 thousand) despite the challenging macroeconomic developments and was thus in line with the forecast (EUR 12.3 million to EUR 12.7 million). The growth is mainly driven by a further increase in recurring revenues. These rose by 3.9% to EUR 11,158 thousand (2022: EUR 10,743 thousand). Recurring revenues include annual contracts with access to OTRS software in various forms as well as security, software updates and support, accounting for 90.6% of total revenue at OTRS (2022: 90.7%). Due to the strategic orientation of OTRS AG, the focus is on developing and increasing recurring revenues. Revenues from other services such as consulting and custom engineering are to be seen as supporting auxiliary revenues for the development of recurring revenues. Revenue from services increased by 7.2% to EUR 1,144 thousand in the reporting year (2022: EUR 1,067 thousand). Earnings before interest, taxes, depreciation and amortization (EBITDA) decreased to minus EUR 340 thousand in the 2023 financial year after EUR 1,270 thousand in the previous year. Due to the negative result for the period and early invoicing at the end of 2022 concerning the introduction of a new ERP program at the beginning of 2023, operating cash flow was minus EUR 1,211 thousand after plus EUR 1,167 thousand in the previous year. The invoices brought forward had led to an increase in deferred income in the 2022 financial year, which has now fallen back to a normal level and thus had a corresponding negative impact on operating cash flow. Earnings before interest and taxes (EBIT) amounted to minus EUR 1,573 thousand compared to EUR 488 thousand in the previous year. Net profit for the year amounted to minus EUR 1,079 thousand in the reporting year (2022: EUR 335 thousand). This corresponds to earnings per share of minus EUR 0.56 (2022: EUR 0.17). The reasons for the decline in EBITDA, EBIT and net profit for the year were the high expenses in the current financial year for the recruitment of new employees, the introduction of an ERP system and the partnership with Gartner for market research. André Mindermann, CEO of OTRS AG: "In a challenging environment, we were able to close the financial year in line with our expectations. We made considerable investments in human resources and significantly modernized our OTRS platform. Artificial intelligence also plays a central role in this. Innovative solutions such as STORM powered by OTRS show how we support companies in efficiently managing security incidents and protecting themselves against the serious consequences of cyber attacks. With this focus, we are ideally equipped to master future challenges and exploit new opportunities." Outlook 2024 Annual Report
28.06.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. |
| Language: | English |
| Company: | OTRS AG |
| Zimmersmühlenweg 11 | |
| 61440 Oberursel | |
| Germany | |
| Phone: | 06172 - 681 988 0 |
| Fax: | 09421 - 5681818 |
| E-mail: | enjoy@otrs.com |
| Internet: | www.otrs.com |
| ISIN: | DE000A0S9R37 |
| WKN: | A0S9R3 |
| Listed: | Regulated Unofficial Market in Berlin, Frankfurt (Basic Board), Stuttgart |
| EQS News ID: | 1932517 |
| End of News | EQS News Service |
1932517 28.06.2024 CET/CEST
