M+M: After the record is before the record

Wessling, March 14, 2023 – Mensch und Maschine Software SE (MUM - ISIN DE0006580806), a CAD/CAM/BIM specialist company, today presents its Annual Report 2022, describing how M+M, thanks to strong new M+M Software business and dynamic renewal business in the VAR segment, reached new sales, profit and cash flows records.

 

Group sales increased to EUR 320.48 mln (PY: 266.16 / +20%), of which 41.9% came from Germany and 58.1% from over 70 countries in Europe and around the globe. Gross profit climbed to EUR 161.14 mln (PY: 138.42 / +16%), with EUR 87.48 mln (PY: 76.13 / +15%) from M+M Software and EUR 73.66 mln (PY: 62.29 / +18%) from the VAR Business.

 

Operating profit EBIT rose to EUR 42.63 mln (PY: 34.69 / +23%), with the larger contribution again from M+M Software at EUR 25.11 mln (PY: 21.36 / +18%), while the VAR Business grew faster by +31% to EUR 17.52 mln (PY: 13.33). Net profit after minority shares grew by +22% to 26.01 mln (PY: 21.31), or 155 Cents (PY: 126) per share.

 

Operating cash flows came in at EUR 39.05 mln (PY: 36.91) or 233 Cents (PY: 218) per share, slightly better than preliminarily published.

 

Management will propose to the annual shareholders’ meeting on May 11 to pay a dividend increased to 140 Cents (PY: 120), again including the option to be paid out in cash or as a share dividend. 70 of 140 Cents can be paid out tax-free from the ‘steuerliches Einlagenkonto’ (§27 KStG).

 

The compact Sustainability Report shows that Ecology and Economy are in full harmony, as M+M’s already small CO2 footprint is not only compensated with around 200 MWh of solar power per year from the group's own roofs, but also and above all through enormous customers’ resource savings with the help of the process optimizations caused by M+M solutions.

 

Despite uncertain market conditions, CFO Markus Pech remains optimistic about the coming years: “For 2023 we expect an increase in net profit to 164-181 Cents/share. Accumulated over the years 2022/23E that’s +38-55 Cents surplus or +14-20% p.a. - exactly matching the 2YR guidance from our annual report 2021. And for 2024 we also expect EPS to grow by +14-20% or +24-34 Cents.” Chairman Adi Drotleff comments: “For M+M, after the record year is again before the record year.”