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Preliminary Figures for 2018/19 / Cloud Performance Remains Strong

Unaudited results: Sales: EUR 359.2 million (up 8% year on year) / Cloud services & support revenue: EUR 70.6 million (up 19% year on year) / EBIT: EUR 12.6 million, adversely affected by extraordinary expenses of strategy offensive 2022 (EUR 7.0 million) and by new IFRS standards 9 and 15 (EUR 0.2 million) / EBIT before extraordinary effects: EUR 19.8 million (down 4% year on year) / Earnings after tax: EUR 10.2 million (down 25% year on year) / Launch of strategy offensive 2022 has been completed / Forecast for 2019/20

Filderstadt, 26 November 2019 – All for One Group AG, leading consulting and IT group, published its preliminary results for the period from 1 October 2018 to 30 September 2019 today. The figures have not yet been audited.

As cloud transformation progresses, non-recurring revenue from the sale of software licenses decreased by 5% to EUR 41.4 million compared with the prior year. In contrast, cloud services & support sales increased by 19% to EUR 70.6 million. Recurring revenue (up 12% to EUR 174.7 million) also includes software support sales (up 9% to EUR 104.1 million). As such, the share of total sales attributable to recurring revenue increased to 49% (Oct 2017 – Sep 2018: 47%). Sales from consulting and services increased by 7% to EUR 143.1 million. Total revenue therefore increased by 8% in total to EUR 359.2 million, of which around 1 percentage point was attributable to acquisitions.

The CORE segment (ERP and collaboration solutions for core business processes) contributed segment sales of EUR 302.6 million (plus 7%) to total revenue. The segment EBIT, which was adjusted by the extraordinary expenses arising from the strategy offensive 2022 and from the first-time application of IFRS 9 and IFRS 15, declined by 13% to EUR 18.5 million. Without these extraordinary effects, segment EBIT declined by 43% to EUR 12.3 million. The relatively new LOB segment (cloud-based solutions for lines of business) was able to raise sales by 11% to EUR 71.5 million. The segment EBIT adjusted by the above effects increased from minus EUR 0.8 million to plus 1.3 million. Without these extraordinary effects, segment EBIT increased from minus EUR 0.8 million to plus 0.3 million.

The consolidated EBIT 2018/19 was EUR 12.6 million and was adversely affected by extraordinary expenses of EUR 7.0 million arising from the strategy offensive 2022 and from the first-time application of the accounting standards IFRS 9 and IFRS 15 (EUR 0.2 million). EBIT adjusted to enable comparability with the prior year therefore amounted to EUR 19.8 million (prior year: EUR 20.6 million). The adjusted EBIT margin was 5.5% (prior year: 6.2%). EBITDA also adjusted to enable comparability with the prior year increased by 3% to EUR 32.0 million (prior year: EUR 31.2 million).

Earnings after tax decreased to EUR 10.2 million (minus 25%) and earnings per share to EUR 2.05 (minus 27%). The figures include tax and interest income totalling EUR 3.2 million, which was recognised as profit back in March 2019 and resulted from tax loss carry forwards that had initially been disputed (Section 8c German Corporation Tax Act (Körperschaftsteuergesetz)). As of 30 September 2019, the equity ratio was 41% (30 Sep 2018: 42%), while the headcount had risen by 10% to 1,846 employees (30 Sep 2018: 1,677 employees).

All for One Group AG CFO Stefan Land: »2018/19 was a key transition year. The initial stages of our strategy offensive 2022 were completed successfully and on schedule. Feedback from our customers confirms we are investing in the right areas. We were able to exceed our sales forecast, despite the weaker economic outlook, and managed to reach our EBIT target, which we revised on 8 August 2019 to between EUR 18 million and 21 million before extraordinary effects. We invested more in our customers, even delivering transformation projects when our own resources were tied up in the strategy process. That meant increasingly engaging external consultants from our partner network – which cost margin. In line with our strategy offensive 2022, our efforts in the financial year 2019/20 will increasingly focus on turning the margin trend around. We expect sales to be between EUR 375 million and 385 million, and EBIT between EUR 20 million and 22 million. Economic development remains the biggest risk. Nevertheless, we continue to uphold our long-term targets, with sales in 2022/23 of between EUR 550 million and 600 million and an EBIT margin in excess of 7%«.

All for One Group AG will be publishing its final consolidated financial statements for the financial year 2018/19 on 16 December 2019, as scheduled, to coincide with the financial statements press conference.