EQS-Adhoc: adesso grows faster than expected in 2022 with approx. 900 million EUR sales (+33 %) / Dividend increase to 0.65 EUR proposed / Guidance 2023 with double-digit growth rate in sales

adesso grows faster than expected in 2022 with approx. 900 million EUR sales (+33 %) / Dividend increase to 0.65 EUR proposed / Guidance 2023 with double-digit growth rate in sales

* Revenues increased by approx. 33 % to approx. 900 million EUR in 2022

* EBITDA of approx. 93 million EUR within the expected corridor

* EBITDA margin influenced by sick leave and strong growth: 10.3 %.

* Dividend proposal foresees increase to EUR 0.65 per share

* Growth-oriented guidance for 2023: more than EUR 1 billion revenues with EUR 100 to 110 million EBITDA

Based on preliminary figures for the 2022 financial year, the adesso Group was able to increase consolidated sales by 33% year-on-year to approximately EUR 900 million (previous year: EUR 678.3 million). EBITDA of approximately EUR 93 million was achieved. The operating result EBITDA (excluding the high one-off effect of EUR 18 million from the sale of a company in the previous year) could thus be improved by 10 %. At approx. 10.3 %, the EBITDA margin is slightly below the expected corridor of 11 to 12 %. In addition to delays in capacity utilisation due to the high growth rate and investments in the corporate culture and infrastructure, the operating margin was primarily affected by the significantly higher number of sick leaves in 2022 following the widely ceasing of Corona protection measures.

Compared to the previous year and the previous quarter, revenues in last quarter of the year increased more than previously expected to a new record level of around EUR 246 million. The high profitability of the first and third quarters of 2022 could not be maintained due to the noticeable burden of sick leave, especially in the fourth quarter. Compared to the previous year and the previous quarter, the lower number of working days also had an impact. At over EUR 21 million, EBITDA in the final quarter again reached the level of the previous year.

The Executive Board is positive about the further growth prospects for the adesso Group. A double-digit growth rate is also expected for sales in 2023. Accordingly, sales are to be increased to over EUR 1 billion and EBITDA to EUR 100 to 110 million. Continuing the dividend policy of recent years, the Executive Board will propose an increased dividend per share of EUR 0.65 (previous year: EUR 0.60) for the 2022 financial year.

The estimation is based on the current knowledge gained from the preparation of the consolidated financial statements. Explanations of the key figures used are published on the company's website at www.adesso-group.de/en/apm/

1559303  14-Feb-2023 CET/CEST