Half-year results 2021/22

Unaudited results:

• Sales: EUR 230.4 million (up 24% year on year); organic growth up 10%
• Cloud services and support: EUR 55.1 million (up 32% year on year)
• Software licenses: EUR 20.8 million (up 73% year on year)
• Five-fold increase in CONVERSION/4 sales // Recurring revenues increase by 20%
• EBIT margin largely stable at 5.7% (down 0.1 percentage points)
• EBIT before M&A effects (non-IFRS): EUR 17.7 million (margin: 7.7%)
• Growth driven by integrating three acquisitions and expanding the customer experience portfolio following the acquisition of POET GmbH in May 2022
• Guidance for 2021/22: Sales increased slightly; EBIT confirmed

Filderstadt, 9 May 2022 – All for One Group SE, leading consulting and IT group, published its unaudited results for the period from 1 October 2021 to 31 March 2022 today.

The marked growth in sales – up 24% to EUR 230.4 million – stems from the integration of the companies acquired at the start of the financial year and from strong demand for digital transformation projects. Despite the uncertainties surrounding the pandemic and economic development, organic sales growth was 10% up compared to the prior-year period.

The cloud first strategy is driving the growth of recurring revenues, which increased by 20% to EUR 118.5 million. This good performance was attributable to both cloud services and support (plus 32% to EUR 55.1 million) and software support (plus 5% to EUR 58.3 million).

Recurring revenues accounted for 51% (Oct 2020 – Mar 2021: 53%) of total sales as non-recurring revenues from software licenses bucked the trend in the face of unexpectedly strong organic demand and the inclusion of the newly acquired businesses, and increased to EUR 20.8 million (plus 73%). Consulting and services revenues increased to EUR 91.1 million, up 21% compared to the prior-year level. The demand for transformation projects to SAP S/4HANA and for the customised technology-based service model (»CONVERSION/4«) offered by All for One Group is gaining pace – resulting in a five-fold increase in sales to EUR 5.1 million (Oct 2020 – Mar 2021: EUR 1.0 million).

The consolidation and integration of the companies acquired in the 1st quarter effective 1 October 2021 and 1 December 2021 are progressing on schedule and helping to expand the Group's implementation strength and portfolio of products and services focusing on SAP transformation, and to grow its product business internationally, including new markets. Following the acquisition of POET GmbH in May 2022, together with its Egyptian subsidiary POET Egypt LLC., a further 110 experts are helping to expand the CX business of All for One's subsidiary B4B Solutions GmbH.

»Acquisitions are part of our DNA. In recent years we have proven our ability to successfully integrate the businesses and to continuously expand our portfolio of products and services. These efforts do, however, initially incur costs and acquisition-related depreciation and amortisation in subsequent periods. In order to demonstrate the »real operating result«, we plan to report EBIT adjusted for M&A effects in future. Year on year, EBIT before M&A effects increased by 37% to EUR 17.7 million with a significant margin improvement from 7.0% to 7.7%«, CFO Stefan Land explained the introduction of the new performance indicator »EBIT before M&A effects (non-IFRS)« for reference purposes.

EBITDA amounted to EUR 27.3 million (Oct 2020 – Mar 2021: EUR 21.5 million), up 27%, while EBIT totalled EUR 13.0 million (plus 22%). The EBIT margin was 5.7% (Oct 2020 – Mar 2021: 5.8%). EBT totalled EUR 12.4 million (plus 24%), while the earnings for the period amounted to EUR 8.6 million (plus 23%), and earnings per share to EUR 1.72 (plus 24%).

The equity ratio as of 31 March 2022 was 31% (30 Sep 2021: 35%). Following the integration of the new subsidiaries, the headcount has increased substantially year on year to 2,557 employees as of 31 March 2022 (31 Mar 2021: 1,917).

We have closely examined our guidance for financial year 2021/22 and have raised our sales guidance slightly while confirming our EBIT guidance. We now expect sales in financial year 2021/22 of between EUR 440 million and EUR 460 million and EBIT in a range between EUR 24 million and EUR 26 million. The biggest risk facing delivery of this guidance is posed by renewed setbacks in economic development.

All for One Group SE will be publishing its full half-year financial report for the 6-month period 2021/22 as scheduled on 12 May 2022.