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DGAP-News: OTRS AG / Key word(s): Half Year Report
OTRS AG publishes half-year report 2021: Double-digit growth rates in revenue and earnings
- EBITDA increases by 38% to EUR 1,451 thousand (H1 2020: EUR 1,053 thousand)
- Clear focus on sustainable digitization trends secures success
Oberursel, September 30, 2021: OTRS AG (ISIN: DE000A0S9R37) today published its half-year report 2021.
OTRS AG, the manufacturer and world's largest service provider for the service management suite OTRS, continues to vigorously pursue its growth path and leverages the dynamic developments of the previous year. As before, the Corona pandemic had an impact on business development in the reporting period. Nevertheless, the company succeeded in achieving double-digit growth rates in terms of revenue and earnings.
The consistent alignment of the company and product strategy with sustainable trends in digitalization, such as personalization and cloud computing, are clearly having an effect. With OTRS 8 and STORM powered by OTRS, OTRS AG serves a continuously increasing demand for innovative software and IT security solutions.
Consequently, revenues increased by 10.2% to EUR 5,247 thousand in the first half of 2021, compared with EUR 4,762 thousand in the same period of the previous year. With a total share of 88.5% of total revenues, recurring revenues remain at a high level. In the same period of the previous year, they accounted for 90.9%. The slight decrease results from a disproportionate increase in other revenues from EUR 424 thousand in the first half of 2020 to EUR 594 thousand in the reporting period.
The adopted strategy of relying increasingly on recurring revenue sources continues to prove to be the right one and forward-looking. On the one hand, OTRS AG achieves greater planning security in this way, and on the other hand, the business can be scaled better.
OTRS AG also recorded a double-digit growth rate in operating earnings before interest, taxes, depreciation and amortization (EBITDA), with an increase of 37.8% from EUR 1,053 thousand in the first half of the previous year to EUR 1,451 thousand in the reporting period. Earnings before interest and taxes (EBIT) also improved significantly to EUR 1,108 thousand in the first half of 2021, compared to EUR 802 thousand in the prior-year period. Cash flow from operating activities more than doubled year-on-year to EUR 1,145 thousand as of June 30, 2021 (June 30, 2020: EUR 517 thousand).
"We managed to quickly adapt to the new working conditions created by Corona. In addition, we have clearly focused on managed OTRS, which has proven successful. We are focusing on clear growth trends and offer our customers clear added value with our OTRS 8 and STORM powered by OTRS products. Thus, we have created a good starting position to tap the market opportunities that present themselves to us and are confident that we will achieve our goals for the full year," says André Mindermann, CEO of OTRS AG.
Outlook 2021 confirmed
Detailed information can be found in the half-year report on the company website at https://corporate.otrs.com in the Investor Relations section.
About OTRS AG
OTRS Group is the manufacturer and the world's largest provider of the service management suite OTRS, awarded with the SERVIEW CERTIFIED TOOL seal of approval.
It offers companies industry-independent solutions for structured communication in customer service, IT service management and security management. In addition to the core product OTRS, the security solutions STORM and CONTROL ensure efficient cybersecurity incident management and transparent documentation in accordance with standards such as ISO 27001.
Among its customers are Lufthansa, Airbus, IBM, Porsche, BSI (Federal Office for Security in Information Technology), Max Planck Institute, Toyota and TUI Cruises. The company consists of OTRS AG and its six subsidiaries OTRS Inc. (USA), OTRS S.A. de C.V. (Mexico), OTRS Asia Pte. Ltd. (Singapore), OTRS Asia Ltd. (Hong Kong), OTRS do Brasil Soluções Ltda. (Brazil) and OTRS Magyarország Kft. (Hungary). OTRS AG is listed on the basic board of the Frankfurt Stock Exchange. For more information, see www.otrs.com.
30.09.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
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