Pleasantly strong start to the year 2021

Wessling, April 21, 2021 – Mensch und Maschine Software SE (MUM - ISIN DE0006580806), a CAD/CAM specialist company, had a pleasantly strong start to the year 2021: While sales as expected remained below the all-time record of the last pre-Corona quarter Q1/2020, EBIT and cash flows already saw new records due to good margin strength and high cost discipline.

 

Sales amounted to EUR 72.34 mln (PY: 78.63 / -8.0%), with EUR 22.03 mln (PY: 20.48 / +7.6%) from Software and EUR 50.31 mln (PY: 58.15 / -13.5%) from the VAR Business. Thanks to a 50.8% (PY: 47.4%) yield, gross profit at EUR 36.77 mln (PY: 37.29 / -1.4%) came in just slightly under previous year, with EUR 19.78 mln (PY: 18.71 / +5.7%) from Software segment and EUR 16.99 mln (PY: 18.58 / -8.6%) from VAR Business.

 

Operating profit EBIT slightly exceeded the previous year’s record at EUR 11.16 mln (PY: 11.08 / +0.7%), marking the highest ever quarterly EBIT. Software achieved EUR 6.42 mln (PY: 5.47 / +17%), VAR Business EUR 4.74 mln (PY: 5.61 / -16%).

 

Net profit after minority shares amounted to EUR 6.64 mln (PY: 6.67 / -0.5%), or 39.4 Cents (PY: 39.8) per share. Operating cash flows continued to soar, rushing to a new record EUR 16.59 mln (PY: 13.64 / +22%) or 99 Cents (PY: 81) per share.

 

For M+M Chairman Adi Drotleff the 2021 growth targets are well underlined: ‘After the pleasing start we expect continued margin strength on a moderate cost base in the further course of the year, which should lead to significant growth compared to the quarters Q2-Q4 in the previous year which had been retarded by Corona effects. Therefore we expect gross profit to grow by +5-8% to EUR 135-138 mln in the full year 2021 and aim for a disproportionate net profit increase by +12-21% to 125-135 Cents per share. Assuming we achieve this target we plan to increase the dividend to 115-120 Cents, while in the annual shareholders’ meeting on May 11, 2021, the dividend proposal for fiscal year 2020 will be 100 Cents (PY: 85).’