ATOSS Software SE: Strong First Half of 2024 with Solid Growth

ATOSS Software SE has reported robust results for the first half of fiscal 2024, showcasing substantial growth in both revenue and profitability. Group revenues rose by 14% to EUR 83.8 million, compared to EUR 73.2 million in the previous year. The EBIT margin increased to 35% from 33% last year, driven by strong demand for workforce management solutions amid ongoing labor shortages and digitalization pressures. Consequently, the Management Board has raised its earnings forecast for the year.

The Software division saw significant revenue growth, up 18% to EUR 60.9 million. Cloud and subscriptions revenue surged by 37% to EUR 33.9 million, representing 41% of total revenues. Recurring revenues, including cloud and maintenance, grew by 25% to EUR 53.3 million, now accounting for 64% of total revenues. Consulting services revenues also rose to EUR 18.0 million, a 9% increase from the previous year.

The company's cloud business continues to thrive, with the cloud order backlog increasing to EUR 76.0 million and cloud Annual Recurring Revenue (ARR) climbing 20% to EUR 70.6 million. Total ARR reached EUR 109.1 million, a 14% rise over the past six months. Operating cash flow improved by EUR 4.1 million to EUR 29.3 million, despite a dividend payment of EUR 26.8 million.

ATOSS plans to maintain its momentum, aiming for a revenue forecast of EUR 170 million for fiscal 2024. The expected EBIT margin has been revised upwards to at least 33%, reflecting the company’s confidence in its continued strong performance.