Feb 23, 2015

USU Software AG announces preliminary figures for 2014 and guidance for 2015

USU sets new records for profit and sales – Adjusted EBIT 43% higher than the previous year at EUR 7.3 million, consolidated sales up 6% to EUR 58.9 million – Guidance for 2015 envisages significant growth in sales and earnings

USU Software AG (ISIN DE000A0BVU28) set a new record for sales and earnings in 2014 according to its unaudited provisional figures. Consolidated sales totaled EUR 58.9 million, with an organic increase of 6% (2013: EUR 55.7 million). This increase chiefly resulted from high-margin international business, which grew 78% to EUR 15.6 million (2013: EUR 8.7 million) in the reporting year. In line with this, the share of total sales generated outside Germany rose from 16% in the previous year to 26%. USU increased earnings before interest and taxes adjusted for the extraordinary effects of acquisitions (adjusted EBIT) by 43% to EUR 7.3 million on the basis of preliminary calculations (2013: EUR 5.1 million). In addition to the adjustment of acquisition-related amortization of intangible assets of EUR 1.3 million (2013: EUR 1.4 million), these extraordinary effects included income from the reversal of a purchase-price provision of EUR 1.0 million (2013: EUR 0) in connection with the full acquisition of B.I.G. Social Media GmbH. On an unadjusted basis, USU doubled earnings before interest and taxes (EBIT) from EUR 3.4 million in the previous year to EUR 6.7 million in 2014. In the same period, earnings before interest, taxes, amortization and depreciation (EBITDA) rose by 62% to EUR 8.9 million (2013: EUR 5.5 million).

As a result of the increase in profits, the USU Group’s liquidity increased further to EUR 18.9 million as of December 31, 2014 (2013: EUR 14.2 million). This liquidity is to be used primarily for future organic growth and further company acquisitions. At the same time, the Management Board plans to allow USU shareholders to participate in the positive overall business performance in 2014 in accordance with the company’s dividend strategy. The Management Board will publish the final proposal for the appropriation of net profit for 2014 alongside the unveiling of the final audited figures for 2014 on March 26, 2015.

For the current fiscal year, the Management Board is optimistic that the Group as a whole will again generate significant growth in sales and earnings. Guidance for 2015 envisages consolidated sales in the region of EUR 64 million to EUR 68 million with adjusted EBIT of EUR 8 million to EUR 9.5 million. With international business flourishing, potential on the core German market remaining high and the growth-oriented acquisition policy of the USU Group, the Management Board also expects the successful implementation of its medium-term planning of sales of more than EUR 100 million with an adjusted EBIT margin in excess of 15% by 2017.

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