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Figures for First 9 Months Underline Strong Cloud Performance / Economic Slowdown

Unaudited results: Sales: EUR 266.9 million (up 7% year on year) / Cloud services & support revenues: EUR 51.5 million (up 18% year on year) / One-off costs adversely affect the result by EUR 3.0 million in total / EBIT (adjusted): EUR 13.5 million (down 3% year on year) / Earnings after tax: EUR 10.0 million (up 12% year on year) include non-recurring income of EUR 3.2 million / Guidance 2018/19: Sales confirmed, EBIT range adjusted / Margin increase from 2020 and sales and EBIT targets for 2022/23 confirmed

Filderstadt, 8 August 2019 – All for One Group AG, leading consulting and IT group, today published its unaudited results for the period from 1 October 2018 to 30 June 2019.

As cloud transformation progresses, non-recurring revenues from the sale of software licenses decreased, as expected, by 9% from the previous year's record level to EUR 30.0 million. In their place, revenues from cloud services & support continued to grow for the seventh consecutive quarter, increasing by 18% to EUR 51.5 million. Recurring revenues (up 12% to EUR 129.0 million) also include software support sales (up 8% to EUR 77.5 million). As such, the share of total sales attributable to recurring revenues increased to 48% (Oct 2017 – Jun 2018: 46%). Revenue generated with consulting and services rose by 8% to EUR 107.9 million. Sales from consulting and services increased by 8% to EUR 107.9 million. Consequently, total revenues increased by 7% overall to EUR 266.9 million. Growth was virtually all organic.

The strategy offensive 2022 and the first-time application of IFRS 15 starting on 1 October 2018 had an adverse effect of EUR 3.0 million in total on the result. After adjustment for purposes of comparability with the corresponding prior-year 9-month period, adjusted EBITDA was EUR 22.2 million (Oct 2017 – Jun 2018: EUR 21.8 million), while EBIT, which was also adjusted by EUR 3.0 million, totalled EUR 13.5 million (Oct 2017 – Jun 2018: EUR 13.9 million). The adjusted EBIT margin therefore fell from 5.6% to 5.1%.

Earnings after tax increased to EUR 10.0 million (up 12%) and earnings per share to EUR 2.02 (up 10%). Tax and interest income totalling EUR 3.2 million from previously disputed loss carryforwards (Section 8c German corpo­rate income tax law) were already recognised in the consolidated income statement in March 2019. The strategic acquisition of »Cloud to Sensor / Machine Learning« specialists CDE – Communications Data Engineering GmbH, Hagenberg, Austria, at the end of June 2019 is not yet included in the 9-month figures. As of 30 June 2019, the equity ratio was 43% (30 Sep 2018: 42%), while the headcount has risen by 12% to 1,821 employees (30 Jun 2018: 1,631 employees).

All for One Group AG CFO Stefan Land: »Our strategy offensive 2022, which focuses primarily on expanding future areas of excellence such as new work, industrial IoT or cybersecurity & compliance, is a rigorous programme we are implementing to further strengthen our position as a leading consulting and IT group. Feedback from our customers confirms we are investing in the right areas. We are growing considerably, and the share of recurring revenues has reached record heights. Our new customer business is growing satisfactorily while existing customers – especially the manufacturers of capital goods for the automotive sector – are adopting a more cautious approach and increasingly deferring projects and new capital expenditures. We are therefore adjusting our EBIT guidance for this transitional financial year 2018/19. Instead of initial expectations of EUR 21 million to 22 million, we are now forecasting between EUR 18 million and 21 million, in each case before one-off costs relating to the strategy offensive, which is still estimated to cost a mid-single-digits million euros figure, and before the additional charge arising from the first-time application of IFRS 15. In light of the acquisitions carried out in the current financial year, we are confirming our 2018/19 sales guidance of between EUR 345 million and 355 million. We are continuing our efforts to implement the strategy offensive 2022 as scheduled and with focus on expanding future areas of excellence such as new work, industrial IoT or cybersecurity & compliance. The EBIT margin is expected to gradually increase from 2020 onwards, while sales of between EUR 550 million and 600 million in 2022/23 are still being targeted, together with an EBIT margin in excess of 7%.«

All for One Group AG will be publishing its full quarterly statement for the 9-month figures 2018/19 as scheduled on 8 August 2019.