Softline Group // Company // Press // Press Release

Consolidated financial statements 2021: Revenue increased as planned compared to previous year

    • Revenue expanded by EUR 5.1 million to EUR 32.2 million // EBITDA of TEUR 232 significantly above forecast

Leipzig, August 17th 2022 – The Softline Group, an internationally operating IT consulting company with a focus on IT and Software Asset Management, Information- and IT-Security, Cloud and Future Datacenter as well as Digital Workplace, today published the consolidated financial statements for 2021, which are prepared on a voluntary basis. The individual financial statements of the listed parent company Softline AG (DE000A2DAN10, SFD1) were already published on 23 May 2022.

Due to the merger of the two German subsidiaries Softline Solutions GmbH and Softline Services GmbH at the beginning of 2021, the parent company Softline AG acted as an operating company again for the first time in the financial year 2021. Together with its international subsidiaries, it was possible to continue the successful development of the previous years at the group level and to expand revenues by EUR 5.1 million to over EUR 32.3 million as planned. The revenue of the IT Asset Management, IT Service Management and Managed Services business in the subsidiaries in the Northern Europe region (consisting of the companies Softline Solutions Netherlands B.V., Netherlands, Softline Solutions N.V., Belgium, and Softline Solutions Ltd, Great Britain) developed particularly positively with an increase of EUR 1.6 million compared to the previous year to EUR 9.4 million.

EBITDA of EUR 232,000 is below the previous year's value (2020: EUR 680,000) and below plan due to investments and pandemic-related influences. In the fourth quarter, it was again possible to make up significantly for the guidance from the nine-month report (EUR -0.3 to -0.5 million).

The cost of materials in 2021 increased by EUR 3.2 million to EUR 14.3 million compared to the previous year. At EUR 14.6 million, Group personnel expenses are approximately EUR 2.0 million above the previous year's level due to investments in consulting and sales staff. The other operating expenses 2021 in the amount of EUR 4.0 million are at the level of the previous year. At EUR +118,000, other operating expenses in 2021 of EUR 4.0 million are only slightly above the result of the 2020 financial year. The operating result (EBIT) developed in the reporting period from EUR 462,000 in the previous year to EUR 11,000.

The development of earnings is also reflected in the balance sheet. At EUR 1.5 million, equity is approximately EUR 0.2 million lower than in the previous year due to the negative consolidated result in fiscal year 2021. Liabilities remained just below the previous year's level at EUR 4.3 million.

Martin Schaletzky, CEO of Softline AG, comments on the developments as follows: "We are proud to have achieved the revenue targets set for us as the Softline Group as well as a positive result in the 2021 financial year, despite Corona-related restrictions and interim revenue declines in the third quarter of 2021. We have continued to pursue our growth plans and have invested intensively in new employees, particularly in the areas of consulting and sales. In addition, we have further expanded our service and consulting offering, thus laying the foundation for further national and international growth".

The consolidated financial statements 2021 are available as of today on the company's website at www.softline-group.com/en/ir.