Mensch und Maschine Software SE presenting Q3 Report 2023

M+M proprietary business back to dominance

  • Strongest 9M result in company’s history
  • Unchanged positive guidance for 2023/24
Wessling, October 19, 2023 – Mensch und Maschine Software SE (MUM - ISIN DE0006580806), a CAD/CAM/BIM specialist company, achieved the strongest nine months result in the company's history, with a record Q1 driven by high reselling business followed by the return to dominance of proprietary M+M business in Q2 and Q3, resulting in unchanged targets for 2023/24.

Nine months sales amounted to EUR 242.21 mln (PY: 228.25 / +6.1%). After Q1 sales had been up +21% due to Autodesk’s 3YR final peak, the sales curve in Q2/Q3 was slower, as expected. Gross profit climbed disproportionately to EUR 126.00 mln (PY: 116.62 / +8.0%). The swing to proprietary business is clearly visible in gross yield development, which after 45.7% in Q1 jumped to 56.7% in Q2/Q3. 

Operating profit EBIT was increased to EUR 34.41 mln (PY: 30.34 / +13%). EBIT margin rose to 14.2% (PY: 13.3%). Net profit after minority shares grew by +14% to 20.95 mln (PY: 18.39), or 125 Cents (PY: 109) per share. Operating cash flows jumped by +41% to EUR 48.61 mln (PY: 34.44) or 290 Cents/share (PY: 205).

CFO Markus Pech and Chairman Adi Drotleff look out positively to 2023/24: “After the solid first nine months, we can leave the 164-181 Cents/share net profit guidance for 2023 unchanged. Accumulated over the two years 2022/23 this would result in +38-55 Cents surplus over the 126 Cents/share achieved in 2021, or +14-20% p.a. - exactly matching the original 2-year forecast. When attaining this goal, we shall increase the dividend to 155-165 Cents (PY: 140). For 2024 we also expect EPS to grow by +14-20% or +24-34 Cents and plan for +15-25 Cents dividend increase.”

The Q3 report title story is BIM in Civil Engineering, using the example of the Sixth Street Viaduct in Los Angeles, completed in 2022.