SNP announces best second quarter ever after record results in 2023 and strong start to the year

• Order entry up 45% to around €74 million; revenue up 28% to around €62 million compared to Q2 2023
  
  
• EBIT surged by approximately €7 million, from €1.0 million to around €8 million year-over-year
  
  
• Strong performance boosts 2024 guidance

In the second quarter of 2024, SNP recorded an impressive increase in order entry of 45%, reaching approximately € 74 million compared to € 51.0 million in Q2 2023. Revenue for the same period grew by 28%, amounting to around €62 million, up from € 48.5 million in Q2 2023. This notable increase in revenue and order entry is the result of SNP’s sustained efforts to expand its global market presence and enhance customer satisfaction. Furthermore, EBIT saw a significant improvement, rising to around €8 million from € 1.0 million year-over-year.

This strong performance has led the software company to raise the guidance for the year. Jens Amail, CEO of SNP, comments: “Thanks to the continued trust of our clients and partners we have an optimistic outlook for 2024 and beyond. Global market leaders like BMW, Microsoft and many others have made strategic decisions to count on us for their transformations. The entire SNP team is focused on ‘winnig together’ with our customers and our ecosystem. We are humbled by what we have achieved and remain committed delivering on our promises to our clients, partners, and shareholders.”

Based on a strong performance year-to-date and ongoing market momentum, SNP has decided to increase the guidance for 2024. The revenue forecast for the full year has been raised to a range between €225 million and €240 million (previous guidance: €215 million to €225 million). For the same period, EBIT is predicted between €16 million and €20 million (previous guidance: €13 million to €16 million). For its order entry, SNP still expects a book-to-bill ratio (order entry over sales revenue) greater than one.

SNP will publish the full Half-Year Financial Report 2024 on August 8, 2024.

About SNP

SNP (ticker: SHF.DE) is the global technology platform leader and trusted partner for companies seeking unparalleled data-enabled transformation capabilities and business agility. SNP’s Kyano platform integrates all necessary capabilities and partner offerings to provide a comprehensive software-based experience in data migration and management. Combined with the BLUEFIELD approach, Kyano sets a comprehensive industry standard for restructuring and modernizing SAP-centric IT landscapes faster and more securely while harnessing data-driven innovations.

The company works with more than 3,000 customers of all sizes and in all industries worldwide, including 20 of the DAX 40 and 103 of the Fortune 500. The SNP Group has more than 1,500 employees worldwide at over 35 locations in 15 countries. The company is headquartered in Heidelberg, Germany, and generated revenues of EUR 203,4 million in the 2023 fiscal year.