Germany's Software AG (STWRY.PK) reported Thursday that its thurd-quarter net income, on non-IFRS basis, dropped 3 percent to 26 million euros from last year's 26.7 million.
Adjusted earnings per share were 0.35 euro, lower than prior year's 0.36 euro.
Software AG's EBIT totaled 37.2 million euros in the third quarter, compared to last year's loss of 6.6 million euros.
Operating EBITA amounted to 58.5 million euros, higher than 29.9 million euros a year ago, resulting in an operating margin of 25.6 percent, up from prior year's 13.5 percent.
Total revenue for the quarter was 228.7 million euros, 3 percent higher than last year's 221.4 million euros. The growth was 10 percent at constant currency. Group product revenue rose 5 percent year-on-year or 12 percent at constant currency to 189.8 million euros.
Third-quarter Digital Business annual recurring revenue or ARR grew 6 percent year-on-year to 545.1 million euros.
Looking ahead, Daniela Bünger, Software AG CFO, said, "Our focus on execution and operational excellence will continue into the fourth quarter, and we are happy to confirm our 2023 full-year guidance."
For the year, the company continues to expect operating margin between 16 and 18 percent, and group product revenue growth between 6 and 10 percent at constant currency.
Software AG said it remains committed to double-digit revenue growth in the Digital Business segment and reiterates its ambition to reach an operating profit margin in the high twenties in the medium term, which will translate into improved cash flow generation.
In Germany, Software AG shares were trading at 31.76 euros, down 0.19 percent.
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