Financial Year 2018/19 1st Quarter Results

Focus on Transforming not just Customers but also Itself.

Sales: EUR 94.2 million (up 3% year on year) / Cloud services & support revenues: EUR 16.8 million (up 25% year on year) / 45% attributable to recurring revenues (prior year: 40%) / One-off costs for the strategy offensive (EUR 0.6 million) and in connection with IFRS 15 (EUR 0.4 million) adversely affect the result to the tune of EUR 1.0 million in total / EBIT (adjusted): EUR 6.4 million (down 4% year on year), sales and EBIT guidance for 2018/19 confirmed / Acquisition of SAP Cloud HR specialists TalentChamp completed as planned with effect from 1 January 2019 / Strategy offensive 2022: Annual general meeting on 13 March 2019 to decide whether to change the name of the company to All for One Group AG

– Filderstadt, 05 February 2019 –

All for One Steeb AG, leading IT services and consulting provider and sought-after digitalisation partner for the midmarket, today published its unaudited results for the period from 1 October to 31 December 2018.

Cloud transformation is continuing to gather pace. Accordingly, non-recurring revenues from the sale of software licenses decreased, as expected, by 23% from the previous year's record level to EUR 16.5 million. In contrast, cloud services & support sales increased by 25% to EUR 16.8 million. Recurring revenues (up 14% to EUR 42.0 million) also include software support sales (up 8% to EUR 25.3 million). As such, the share of total sales attributable to recurring revenues increased to 45% (Oct – Dec 2017: 40%). Sales from consulting & services increased by 6% to EUR 35.6 million. Total revenues for the 3-month period consequently increased purely organically by 3% overall to EUR 94.2 million.

The strategy offensive 2022 (one-off cost of EUR 0.6 million) and the first-time application of IFRS 15 starting on 1 Oct 2018 (EUR 0.4 million) adversely affected the result to the tune of EUR 1.0 million.

After adjustment for purposes of comparability with the prior year, EBITDA totalled EUR 9.2 million (Oct – Dec 2017: EUR 9.2 million), while EBIT – which was also adjusted by EUR 1 million – totalled EUR 6.4 million (Oct – Dec 2017: EUR 6.7 million), equivalent to an EBIT margin of 6.8% (Oct – Dec 2017: 7.3%).

As of 31 December 2018, the equity ratio was 43% (30 Sep 2018: 42%), while the headcount had risen by 13% to 1,734 employees (31 Dec 2017: 1,539 employees). The acquisition of SAP HR Cloud specialists TalentChamp Consulting GmbH, Vienna, was completed on schedule. The acquisition will be included in the consolidated financial statements starting in January 2019.

As All for One Steeb CFO Stefan Land affirms: »Above and beyond SAP S/4HANA, we want to expand our market access in those growth areas that are witnessing strong demand, such as new work, or cybersecurity & compliance, but also to use our own IP to deepen our customer reach and increase our focus on the upper midmarket. Between now and 2022/23 we want to raise our sales to between 550 million and 600 million euros and increase our EBIT margin to more than 7%. Transformation is not just something we do for our customers, however; our own is also making rapid progress. One key move, for example, is the uniform presentation of the Group in the marketplace under a new brand architecture offering a fully comprehensive portfolio of products and services to transform and advance our customers. Accordingly, we want our annual general meeting on 13 March 2019 to approve a change in the company's name from All for One Steeb AG to All for One Group AG. We are confirming our guidance for the transitional financial year 2018/19, with our sales forecast unchanged at between 345 million and 355 million euros and our EBIT forecast unchanged at between 21.0 million and 22.0 million euros before one-off costs in the mid-single-digit millions relating to our strategy offensive.«

All for One Steeb AG will be publishing its full quarterly statement for the 3-month period as scheduled on 7 February 2019.


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