Mensch und Maschine Software SE presenting Annual Report 2023
Record figures despite inflationary headwinds
40 years M+M: anniversary dividend 165 Cents / +18%
Average EPS target path 2024/25E remains at +17%
Wessling, March 14, 2024 – Mensch und Maschine Software SE (MUM - ISIN DE0006580806), a CAD/CAM/BIM specialist company, today presents its Annual Report 2023, describing how M+M achieved new record levels for sales, earnings and cash flow despite inflationary headwinds and high volatility in the Autodesk business.
Due to the increasing dominance of proprietary business, a mere +0.6% increase in sales turned into +4.6% in gross profit, and M+M’s usual strict cost discipline ensured that, despite inflationary pressure, net profit per share (EPS) increased clearly disproportionately by +11% to 172 Cents.
The absolute highlight, however, was the operating cash flow, which came in even better than previously reported at +30% to EUR 50.59 mln or 302 Cents/share. With this success behind us, we will propose a 40th M+M company anniversary dividend of 165 Cents (PY: 140 / +18%) to the annual shareholders’ meeting on May 8 - as in recent years, either in cash or as a stock dividend.
M+M CFO Markus Pech remains optimistic for the coming years: “In 2024 we expect +8-12% increase in gross profit and +10-20% to 189-206 Cents in EPS. An increase of +20-30 cents to 185-195 Cents is planned for the 2024 dividend. For 2025 we expect a stronger growth of +12-25% in EPS and are planning +25-35 Cents more in dividends." Chairman Adi Drotleff adds: "Over the two-year period 2024/25E, our average EPS target path remains at the +17% per year achieved in 2022/23.”