Robust Q3 keeping profit on record path

Wessling, October 21, 2020 – After a very strong Q1 and a slower Q2 due to Corona, a robust Q3 helped Mensch und Maschine Software SE (MUM - ISIN DE0006580806), a CAD/CAM specialist company, achieve a double digit percentage increase over last year’s nine months profit and cash flows records.

 

Sales grew to a 9M record EUR 180.61 mln (PY: 174.27 / +3.6%), with EUR 54.93 mln (PY: 54.73 / +0.4%) from M+M Software and EUR 125.68 mln (PY: 119.54 / +5.1%) from VAR Business. After a strong +24.5% in Q1, sales in Q2/Q3 came in -9.3%/-7.1% below the previous year.

 

Operating profit EBIT grew to EUR 21.76 mln (PY: 18.21 / +19.5%). Software contribution to this new 9M record was EUR 13.67 mln (PY: 12.20 / +12%), while the VAR Business achieved EUR 8.08 mln (PY: 6.02 / +34%). After +36% in Q1 and -3.7% in Q2, Q3 at +19.6% achieved a record EBIT. Net profit after minority shares increased by +14% to a record EUR 12.63 mln (PY: 11.04), or 75.3 Cents (PY: 65.6) per share. Operating cash flows jumped to a new record of EUR 32.73 mln (PY: 21.43 / +53%) or 195 Cents (PY: 127) per share.

 

After the robust business in Q2 and Q3 in spite of Corona, M+M Chairman Adi Drotleff expects “a strong Q4 with earnings around previous year’s record level, so for 2020 new record earnings per share in the bandwidth of 107-118 Cents (PY: 99) can be expected, as well as 100-105 Cents dividend after 85 in PY. We are pleased to see cash flows already closing in on the 2 Euros level, indicating where we in the mid-term want to drive earnings per share, from 2021 onwards in steps of +18-24 Cents per year.”