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adesso SE / Key word(s): Change in Forecast/Preliminary Results
adesso SE raises full-year sales guidance based on preliminary figures with strong growth in the first half of 2022
According to preliminary figures, adesso SE continued its strong growth in the first half of 2022 with an increase of 28 % to EUR 412.1 million, thus exceeding the forecast figures for the full year. The reasons for this are the continuing high demand in the area of IT services, the strong growth in personnel and successful acquisitions. In comparison to previous year's EBITDA of EUR 55.7 million, which was strongly influenced by the special effect from the sale of a subsidiary, EBITDA in the first half of 2022 was expectingly lower at EUR 38.0 million. Excluding this effect, the value of the previous year was again achieved. The EBITDA margin after the first six months is calculated at 9.2 %.
As expected, the second quarter of 2022 was weaker due to the lower number of working days as well as a calculated lower capacity utilisation due to more onsite events after the pandemic years characterised by remote work. While the stronger first quarter of 2022 generated EUR 209.8 million in revenue with EBITDA of EUR 27.9 million, the second quarter of the year contributed EBITDA of EUR 10.1 million (previous year: EUR 19.8 million) on revenue of EUR 202.3 million (previous year: EUR 159.2 million). While high licence revenues were recorded with in|sure Ecosphere in the second quarter of the previous year, further significant licence deals are expected to be concluded in the second half of 2022. Both the order situation in the IT services segment and the promising pipeline in the in|sure Ecosphere area can be considered positive. The economic situation, which is generally described as challenging, has only led to project postponements in exceptional situations, so that the Executive Board expects a strong second half of 2022 based on the foreseeable indicators. Based on the preliminary figures and the planning for the rest of the year, the Executive Board is raising the revenue guidance for the full year to EUR 800 to 850 million (previously EUR 750 to 800 million). The forecast for EBITDA of EUR 90 to 95 million and the EBITDA margin of 11 to 12 % is confirmed.
Explanations of the key figures used are published on the company's website at www.adesso-group.de/en/apm/. The half-year report with final figures will be published as scheduled on 15 August 2022 and will also be available on the website at www.adesso-group.de/en/.
29-Jul-2022 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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