Software AG (STWRY.PK) reported that, on an organic basis, EBIT was 43.1 million euros in the fourth quarter compared to 32.2 million euros, prior year. With the addition of StreamSets, EBIT was 22.8 million euros in the fourth quarter.
Organic operating EBITA was 67.4 million euros compared to 45.2 million euros, last year. With the addition of StreamSets, operating EBITA was at 58.3 million euros in the fourth quarter. Organic operating EBITA margin was 23.1 percent, up 3.8 percentage points year-on-year.
On non-IFRS basis, net loss was 14.3 million euros compared to profit of 34.8 million euros, last year. Non-IFRS loss per share was 0.19 euros compared to profit of 0.47 euros.
On an organic basis, Software AG reported 292.0 million euros in total revenue in the fourth quarter compared to 234.6 million euros, last year. With the contribution of StreamSets, Software AG reported 303.8 million euros in the fourth quarter.
On an organic basis, product revenue increased 24 percent in the fourth quarter to 251.4 million euros from 194.6 million euros. With the addition of StreamSets IFRS revenue, Group product revenue was 261.0 million euros in the fourth quarter.
Group annual recurring revenue was 700.2 million euros, up 20 percent or an increase of 16 percent at constant currency. Organic Digital Business annual recurring revenue grew 11 percent, driven by Software-as-a-Service.
On an organic basis, Software AG's bookings were 273.9 million euros in the fourth quarter represented growth of 35 percent year-on-year. Organic bookings in the Digital Business grew 15 percent year-on-year to 197.6 million euros in the fourth quarter.
Software AG said it will increase efficiency and productivity through a program that increases operating leverage and delivers a margin benefit of between 30 million euros and 35 million euros in 2023 and delivers further benefit thereafter. This will affect roughly 200 employees, or 4 percent of total full-time equivalents.
Software AG said the company is confident in achieving its guidance for 2023.
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