After Record Year 2023 SNP Starts with the Best First Quarter Ever

Corporate News

After Record Year 2023 SNP Starts with the Best First Quarter Ever

• Group revenue increased by 15% to €54.0 million in Q1 2024 (Q1 2023: €47.1 million)
• EBIT rose by 63% to €4.0 million (Q1 2023: €2.5 million), EBIT margin to 7.4% (Q1 2023: 5.2%)
• Operating cashflow turned significantly positive, totaling to €10.3 million (Q1 2023: €-1.0 million). 
• Book-to-bill ratio greater than one in line with guidance
• Outlook confirmed: SNP continues to expect positive business development for the 2024 financial year

Heidelberg, Germany, April 25, 2024 – SNP Schneider-Neureither & Partner SE, a leading global provider of software for digital transformation, automated data migration and data management in the SAP environment, today published its interim statement for the first quarter of 2024. The company has made a successful start to the year with record results in all key performance indicators. SNP achieved revenue growth of 15% to €54.0 million and a significant 63% increase in earnings before interest and taxes (EBIT) to €4.0 million. The EBIT margin increased accordingly by 2.2 percentage points to 7.4%. Order entry reached €60.5 million.

Dr. Jens Amail, CEO of SNP, comments: “After record results in 2023 with an incredibly strong Q4, we started the year with our best ever first quarter. Thanks to the continued trust of our customers and partners and the strong focus of our SNP team on the success of our clients, our business is growing faster than the market. The need for our customers to be more agile in an increasingly complex business environment will continue to drive the demand for our data migration and management solutions; and we optimistically look into the balance of 2024 and beyond.”

In the partner business, SNP recorded above-average growth with a 54% increase in order entry to €30.9 million and a 31% increase in revenue to €19.1 million. The service business contributed €37.3 million (+19% compared to Q1 2023) to Group revenue; the software business €16.8 million (+6% compared to Q1 2023).

Andreas Röderer, CFO of SNP, comments: “With a strong first quarter, we are building on last year’s success. The development of operating cash flow was particularly pleasing reflecting the increase in revenue and earnings as well as the continued rigorous management of working capital.”

Recent Business Highlights:

• Progress in partner business: SNP formed a global partnership with smartShift and secured SoftwareOne as a new global Gold Partner.
• Partnership with Loh Services: The renown global family-owned company with a workforce of over 12,000 employees has placed its trust in SNP’s software solutions for a comprehensive SAP project.
• Acquisition of Trigon Consulting: SNP’s recent acquisition of Trigon Consulting further strengthens its premium services for both customers and partners. The consulting specialist for IT and business transformations, data migration and digitalization joins the SNP Group effective May 1, 2024.

Key figures
The following table summarizes the development of key Group figures in the first quarter of 2024:

Outlook 2024
SNP confirms the outlook for the 2024 financial year. Revenue is expected to rise to between €215 million and €225 million (2023 revenue: €203.4 million). At the same time, SNP is forecasting operating earnings (EBIT) in a range of between €13 million and €16 million (EBIT 2023: €11.1 million). For its order entry, SNP expects a book-to-bill ratio (order entry over sales revenue) greater than one.

The more detailed interim statement for the first quarter of 2024 is available on our website at https://investor-relations.snpgroup.com/en/publications/.

Investor and analyst call
The investor and analyst call will take place on April 25, 2024, at 2 p.m. CEST. Interested investors and analysts can register via the following link: https://webcast.meetyoo.de/reg/8IuPQqyO6rdV.

As usual, a recording of the conference call will be made available one day later on SNP's website at https://investor-relations.snpgroup.com/en/publications/.

About SNP
SNP (ticker: SHF.DE) helps companies worldwide to tap into the full potential offered by their data and to embark on their very own journey to a digital future.

With its CrystalBridge® data excellence platform and its BLUEFIELD™ approach, SNP has established a comprehensive industry standard, enabling faster and more secure restructuring and modernization of SAP systems and realizing data-driven innovations via the cloud.

Some 3,000 customers worldwide from all sectors and of all sizes trust in SNP, including 20 DAX 40 and numerous Fortune 500 companies. The SNP Group has more than 1,400 employees worldwide in 35 locations in 21 countries. Headquartered in Heidelberg, the company generated revenue of €203.4 million in the 2023 fiscal year.

Further information is available at www.snpgroup.com

SNP contact
Marcel Wiskow
Director lnvestor Relations
Tel.: +49 6221 6425-637
Email: marcel.wiskow@snpgroup.com
presse@snpgroup.com