Mensch und Maschine Software SE presenting Half year report 2021
M+M: Continued record chasing after strong Q2
Double-digit sales and profit increase to pre-crisis level
Good H2 and new records for 2021 estimated
Wessling, July 21, 2021 – After the Corona pause lasting one year, Mensch und Maschine Software SE (MUM - ISIN DE0006580806), a CAD/CAM specialist company, was able to continue on the former record chasing with a strong second quarter 2021, achieving new half year records for sales as well as for earnings. Compared to the pre-crisis year 2019, half year sales have already gained +13%, profit even higher at +32%.
Half year sales amounted to EUR 136.07 mln (PY: 130.38 / +4.4%), with EUR 42.47 mln (PY: 37.87 / +12%) from M+M Software and EUR 93.60 mln (PY: 92.51 / +1.2%) from VAR Business. The +13% increase versus 2019 was equally contributed to by both segments, while comparison to 2020 is distorted by the pre-Corona record in Q1.
Operating profit EBIT grew to EUR 18.51 mln (PY: 16.72 / +11%), the highest half year EBIT amount ever. Software contribution was EUR 11.61 mln (PY: 9.95 / +17%), while VAR Business achieved EUR 6.90 mln (PY: 6.77 / +2.0%). Compared to 2019, the EBIT increase was +32%, with +26% from Software and +45% from the VAR segment.
Net profit after minority shares amounting to EUR 11.11 mln (PY: 10.07 / +10%), or 66 Cents/share (PY: 60), also marked a new record level. Relative to 2019, net profit achieved the same +32% increase rate like EBIT. Operating cash flows continued to soar to EUR?23.20 mln (PY: 24.46 / 2019: 13.64) or 138 Cents/share (PY: 146 / 2019: 81), equalling about twice the net profit level.
M+M Chairman Adi Drotleff remains optimistic for 2021: ‘After the pleasing first half year, we expect to stay on the growth path in the second half of the year, creating new records both on sales and earnings level. We now expect a +6-10% full year 2021 growth corridor to EUR?259-268 mln for sales. Furthermore we aim for a disproportionate net profit increase by 12-21% (or +26-36% vs 2019) to 125-135 Cents per share and a 115-120 Cents (PY: 100 / 2019: 85) dividend.’