After Record Year 2023 SNP Starts with the Best First Quarter Ever
Heidelberg, Germany, April 25, 2024 – SNP Schneider-Neureither & Partner SE, a leading global provider of software for digital transformation, automated data migration and data management in the SAP environment, today published its interim statement for the first quarter of 2024. The company has made a successful start to the year with record results in all key performance indicators. SNP achieved revenue growth of 15% to €54.0 million and a significant 63% increase in earnings before interest and taxes (EBIT) to €4.0 million. The EBIT margin increased accordingly by 2.2 percentage points to 7.4%. Order entry reached €60.5 million.
Contacto
Marcel Wiskow
Director Investor Relations
Teléfono móvil: +49 6221 6425-637
Correo: marcel.wiskow@snpgroup.com
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- Group revenue increased by 15% to €54.0 million in Q1 2024 (Q1 2023: €47.1 million)
- EBIT rose by 63% to €4.0 million (Q1 2023: €2.5 million), EBIT margin to 7.4% (Q1 2023: 5.2%)
- Operating cashflow turned significantly positive, totaling to €10.3 million (Q1 2023: €-1.0 million).
- Book-to-bill ratio greater than one in line with guidance
- Outlook confirmed: SNP continues to expect positive business development for the 2024 financial year
Dr. Jens Amail, CEO of SNP, comments:
“After record results in 2023 with an incredibly strong Q4, we started the year with our best ever first quarter. Thanks to the continued trust of our customers and partners and the strong focus of our SNP team on the success of our clients, our business is growing faster than the market. The need for our customers to be more agile in an increasingly complex business environment will continue to drive the demand for our data migration and management solutions; and we optimistically look into the balance of 2024 and beyond.”
In the partner business, SNP recorded above-average growth with a 54% increase in order entry to €30.9 million and a 31% increase in revenue to €19.1 million. The service business contributed €37.3 million (+19% compared to Q1 2023) to Group revenue; the software business €16.8 million (+6% compared to Q1 2023).
Andreas Röderer, CFO of SNP, comments:
“With a strong first quarter, we are building on last year’s success. The development of operating cash flow was particularly pleasing reflecting the increase in revenue and earnings as well as the continued rigorous management of working capital.”
Recent Business Highlights
- Progress in partner business: SNP formed a global partnership with smartShift and secured SoftwareOne as a new global Gold Partner.
- Partnership with Loh Services: The renown global family-owned company with a workforce of over 12,000 employees has placed its trust in SNP’s software solutions for a comprehensive SAP project.
- Acquisition of Trigon Consulting: SNP’s recent acquisition of Trigon Consulting further strengthens its premium services for both customers and partners. The consulting specialist for IT and business transformations, data migration and digitalization joins the SNP Group effective May 1, 2024.
Key figures
The following table summarizes the development of key Group figures in the first quarter of 2024:
|
|
Q1 2024 |
Q1 2023 |
Change |
|
Order entry |
€60.5 million |
€58.3 million |
+4% |
|
Revenue |
€54.0 million |
€47.1 million |
+15% |
|
EBITDA |
€6.5 million |
€5.1 million |
+29% |
|
EBITDA margin |
12.1% |
10.7% |
+1.4pp |
|
EBIT |
€4.0 million |
€2.5 million |
+63% |
|
EBIT margin |
7.4% |
5.2% |
+2.2pp |
|
Net income |
€2.4 million |
€1.3 million |
+92% |
|
Earnings per share (undiluted) |
€0.33 |
€0.19 |
+74% |
|
Operating cash flow |
€10.3 million |
€-1.0 million |
n/a |
|
Cash and cash equivalents |
€48.1 million |
€30.5 million |
+58% |
|
Equity ratio |
43.0% |
41.3% |
+1.7pp |
Outlook 2024
SNP confirms the outlook for the 2024 financial year. Revenue is expected to rise to between €215 million and €225 million (2023 revenue: €203.4 million). At the same time, SNP is forecasting operating earnings (EBIT) in a range of between €13 million and €16 million (EBIT 2023: €11.1 million). For its order entry, SNP expects a book-to-bill ratio (order entry over sales revenue) greater than one.
The more detailed interim statement for the first quarter of 2024 is available on our website at https://investor-relations.snpgroup.com/en/publications/.
Investor and analyst call
The investor and analyst call will take place on April 25, 2024, at 2 p.m. CEST. Interested investors and analysts can register via the following link: https://webcast.meetyoo.de/reg/8IuPQqyO6rdV.
As usual, a recording of the conference call will be made available one day later on SNP's website at https://investor-relations.snpgroup.com/en/publications/.
Sobre SNP
SNP (ticker: SHF.DE) es el líder mundial en plataformas tecnológicas y socio de confianza para las empresas que buscan obtener una transformación de datos y agilidad empresarial sin precedentes. La plataforma Kyano de SNP reúne las funciones necesarias y las ofertas de nuestros socios para proporcionar una experiencia integral basada en software en la migración y gestión de datos. Junto con el enfoque BLUEFIELD, Kyano establece un estándar integral del sector para reestructurar y modernizar los entornos de TI centrados en SAP de forma más rápida y segura, aprovechando al mismo tiempo las innovaciones basadas en datos.
La empresa trabaja con unos 3.000 clientes de todos los tamaños y sectores en todo el mundo, entre ellos 20 del DAX 40 y 103 de la lista Fortune 500. El Grupo SNP emplea a unas 1.500 personas en todo el mundo, en más de 35 ubicaciones repartidas por 15 países. La empresa tiene su sede en Heidelberg, Alemania, y generó ingresos de 203.4 millones de euros en el año fiscal 2023.
Contacto
Marcel Wiskow
Director Investor Relations
Teléfono móvil: +49 6221 6425-637
Correo: marcel.wiskow@snpgroup.com
