Mensch und Maschine Software SE discloses preliminary results 2022

Record year at the upper end of target corridors

  • Sales +20% / EBIT +23% / Net profit +22%
  • Dividend proposal 140 Cents / 2023 guidance confirmed
Wessling, February 9, 2023 – Mensch und Maschine Software SE (MUM - ISIN DE0006580806), a CAD/CAM/BIM specialist company, reached the upper end of the increased guidance and new record figures in 2022. Growth drivers were new business for M+M Software and renewal business in the VAR segment, in Q4 additionally driven by the end of discount for Autodesk 3YR contracts in January.
According to preliminary figures for 2022, group sales increased to approx. EUR 320 mln (PY: 266.16 / +20%). Gross profit climbed to approx. EUR 161 mln (PY: 138.42 / +16%), with approx. EUR 87.5 mln (PY: 76.13 / +15%) from M+M Software and approx. EUR 73.5 mln (PY: 62.29 / +18%) from the VAR Business.
Operating profit EBIT rose to approx. EUR 42.6 mln (PY: 34.69 / +23%), with approx. EUR 25.1 mln (PY: 21.36 / +18%) from M+M Software and approx. EUR 17.5 mln (PY: 13.33 / +31%) from VAR Business. Net profit after minority shares grew by +22% to approx. 26 mln (PY: 21.31), or 155 Cents (PY: 126) per share. Operating cash flows amounted to c. EUR 38.7 mln (PY: 36.91) or 231 Cents (PY: 218) per share. 
During the past 8 years since 2014, M+M increased sales and gross profit by an average 11% and 10% per year, respectively. As operating expenses only grew by c. 7% annually, EBIT and net profit were disproportionately increased by a sound 26% per year.
Chairman Adi Drotleff and CFO Markus Pech are completely satisfied with the 2022 financials and are already committing to a dividend proposal of 140 cents (PY: 120), also at the upper end of the forecast range.
Markus Pech additionally gives an outlook for the current year 2023: “We continue to expect an increase in net profit to 164-181 Cents/share. This means that we keep the original +14-20% p.a. forecast for 2022/23, resulting in a total +30-44% compared to the 126 Cents achieved in 2021.”
The final audited 2022 figures, which will be disclosed in the accounts press conference on March 14, 2023, may differ from the preliminary figures.