Mensch und Maschine Software SE presenting Q1 report 2024

Strongest quarter ever in M+M’s history

  • Outstanding Q1/2023 all-time record profit exceeded
  • Average EPS target path 2024/25E remains at +17%
Wessling, April 18, 2024 – Mensch und Maschine Software SE (MUM - ISIN DE0006580806), a CAD/CAM/BIM specialist company, started the year 2024 with a very strong Q1. As during Q2-Q4/2023, M+M’s proprietary business dominated, which led to more gross profit despite an (expected) decline in sales. Thanks to strict cost discipline, even the outstanding all-time-high record profit from the previous year could be exceeded.

Group sales amounted to EUR 100.87 mln (PY: 103.06 / -2.1%). Contrary to sales, group gross profit climbed to EUR 50.18 mln (PY: 47.09 / +6.6%), with EUR 27.70 mln (PY: 25.84 / +7.2%) from M+M Software and EUR 22.48 mln (PY: 21.25 / +5.8%) from Digitization.

Operating profit EBIT at EUR 16.86 mln (PY: 15.81 / +6.7%) exceeded last year’s all-time quarterly record, with EUR 9.90 mln (PY: 9.19 / +7.7%) from M+M Software and EUR 6.96 mln (PY: 6.62 / +5.2%) from the Digitization Business. 

Net profit after minority shares grew by +8.2% to EUR 10.62 mln (PY: 9.82), or 63 Cents (PY: 59) per share. The operating cash flow at EURO 25.52 mln (PY: 24.59) or 151 Cents (PY: 148) per share also reached a new record, albeit closely.

M+M CFO Markus Pech and Chairman Adi Drotleff give an optimistic outlook after the good start: “For 2024 we confirm the +10-20% to 189-206 Cents per share net profit target, as well as the 185-195 Cents dividend target. For 2025 we expect a stronger +12-25% EPS growth and are planning +25-35 Cents more in dividends. Over the two-year period 2024/25E, the average EPS target path thus remains at the +17% per year achieved in 2022/23."

The cover story of the Q1 Report 2024 this time is:
“Digital twins for BIM - Building Information Modeling/Management.”