- Revenue expanded by EUR 1.8 million to EUR 16.5 million // Planned EBITDA at the end of the year at 0.3 to 0.7 million EUR
Leipzig, 23 August 2022 - The Softline Group, an internationally operating IT consulting company with focus on IT and Software Asset Management, Information- and IT-Security, Cloud and Future Data Centre as well as Digital Workplace, today publishes its business development for the first half of 2022.
In the first six months of 2022, the Softline Group was able to increase its revenue by EUR 1.8 million to EUR 16.5 million compared to the same period of the previous year (previous year: EUR 14.6 million), but the half-year result is significantly below plan. In the reporting period, the revenue in the IT and Software Asset Management business in the Northern Europe region was increased by approx. EUR 1.1 million to EUR 5.1 million compared to the previous year. In the DACH region, revenue in the core portfolio areas of IT and Software Asset Management, Cloud and Future Data Centre, Information- and IT-Security and Digital Workplace increased only slightly by EUR 0.6 million to EUR 11.4 million in the first half of 2022 compared to the same period of the previous year (2021: EUR 10.8 million).
While the first quarter of 2022 was still completed according to plan, capacity utilisation was unsatisfactory, especially in April, despite a high order backlog, which led to a significantly lower contribution margin and correspondingly high pressure on liquidity due to too few billable hours. In addition, the order backlog in the second quarter fell slightly compared to the first quarter of 2022 and, at EUR 30.1 million, is significantly lower than in previous years (30.06.2021: EUR 35.2 million; 30.06.2020: EUR 33.3 million; 30.06.2019: EUR 25.1 million), as already explained in the quarterly report.
Martin Schaletzky, CEO of Softline AG, comments on the results of the first six months of 2022 as follows: "Due to the unsatisfactory business development at the beginning of the second quarter, we immediately initiated a programme of measures in Softline AG (DACH region) to increase capacity utilisation, revenue and contribution margin as well as to sustainably reduce costs. The clearly more positive development of revenues and earnings in the course of the second quarter and at the beginning of the third quarter show that the measures are already taking effect. We therefore expect a positive business development for the current financial year 2022."
On the personnel side, the Softline Group continued to grow strongly: from 217 to 244 employees compared to the previous year. This corresponds to an increase of about 10 percent in the German company and about 20 percent in the Northern Europe region.
Due to the considerably increased expenses for purchased services with relation to the previous year (EUR +1.1 million) as well as the considerably increased personnel costs due to
investments in the growth of the Group (EUR +1.1 million), at EUR -816,000, the operating profit of the Softline Group is considerably under that of the previous year (EUR 3,000). The operating result (EBIT) of the Softline Group, i.e. the difference between the total operating performance and the operating expenses, amounted to EUR -938,000 and is thus EUR 0.8 million below that of the previous year (EUR -94,000).