USU Software AG Announces 2023 Financial Results and Strategic Initiatives

USU Software AG reported a 4.4% increase in consolidated sales for 2023, reaching EUR 132.1 million, with significant growth in SaaS revenue by almost 20% to EUR 17.0 million. Despite this, the company saw declines in adjusted EBITDA by 20.9% to EUR 13.3 million and a 30.3% drop in consolidated net profit to EUR 5.3 million. The dividend will remain unchanged at EUR 0.55, reflecting the company's policy of consistent shareholder returns.

The company also confirmed a substantial orders backlog of EUR 84.4 million and provided positive guidance for 2024, with expected sales growth to EUR 143-146 million and an adjusted EBITDA forecast of EUR 14-16 million. Additionally, the Management Board reaffirmed its commitment to achieving an average organic sales growth of 10% in the coming years and improving adjusted EBITDA margins to between 17% and 19% by 2026.

In a strategic move, USU Software AG plans to delist its shares, citing limited strategic and financial benefits from being publicly listed and the increasing costs due to regulatory demands. The company aims to further expand its product business and is exploring strategic options, including seeking external partnerships to fund this expansion. This decision is part of broader efforts to streamline operations and focus on core areas of growth.