Serviceware SE: Serviceware SE in FY 2023/2024 for the first time with revenues of over EUR 100m/EBITDA jumps from EUR 0.2m to EUR 3.2m

Idstein (pta006/21.02.2025/08:00 UTC+1)

• Revenue forecast for the upper range met
• Total sales revenues +12.8 percent to EUR 103.3 million
• SaaS/service revenues increase disproportionately by 22.1 percent to EUR 69.9 million
• Use of AI in Serviceware platform expanded as planned: new AI Process Engine as new AI-native core of the platform
• Further successful implementation of internationalization strategy
• Sales revenue growth between 5 and 15 percent and further improvement of EBIT and EBITDA targeted
• Webcast for investors and media representatives on February 21, 2025

Idstein, February 21, 2025 Serviceware SE ("Serviceware", ISIN DE000A2G8X31) has successfully continued on its course for growth during fiscal 2023/2024 (ending at the end of November) and has again reported a record year. The EUR 100 million revenue mark was exceeded for the first time. Earnings also improved significantly. Among other things, the company has significantly expanded the use of Artificial Intelligence (AI) in the ESM platform and has also achieved important successes in its internationalization strategy. A milestone was the release of the new AI Process Engine, which has provided the ESM platform with a new core based on Artificial Intelligence.

According to the preliminary, unaudited IFRS figures, total sales revenues rose by 12.8 percent year on year, passing the 100 million euro mark for the first time in the company's history to reach EUR 103.3 million (prior year: EUR 91.5 million). This means that the forecast, which had recently been revised to the upper end of the range with growth of at least 10 percent, was fully met. The fourth quarter showed an above-average positive momentum with a revenue increase of 13.9 percent to EUR 27.1 million. During the final quarter, revenues rose to a new historic revenue level for the fourth time during the 2023/2024 fiscal year. Serviceware is also making very good progress in transforming its business model from a license to an SaaS business model. In the SaaS/Service segment, revenue growth in the fiscal year was once again disproportionately high at 22.1 percent to EUR 69.9 million (PY: EUR 57.3 million). SaaS/Service sales revenues now account for 67.7 percent of Serviceware's total revenues (PY: 62.6 percent). The contract liabilities, which mainly consist of the residual values of existing SaaS contracts and represent already fixed future revenues, increased by 45.4 percent from EUR 55.4 million to EUR 80.6 million. During the reporting period, EBITDA improved quite substantially from EUR 0.2 million to EUR 3.2 million. EBIT could also be increased significantly and amounted to EUR -0.3 million after EUR -3.9 million in the previous year. Cash and cash equivalents amounted to EUR 33.6 million at the end of November 2024. For the current fiscal year 2024/2025 Serviceware expects a sales increase between 5 and 15 percent and a further improvement of EBIT and EBITDA.

Serviceware has further strengthened the ESM platform, which now offers a comprehensive range of services. Artificial Intelligence is already used throughout the platform's modules and processes. With the revolutionary new AI Process Engine, the Serviceware platform has received a new AI-native core. This process modeling software supports companies in defining new service processes without their own expert knowledge in an even easier and more efficient way and to create processes as well as to significantly increase the degree of automation of service processes at all levels.

During the reporting period, Serviceware successfully continued its international growth strategy and entered in North America into a partnership with the leading consultancy firm Maryville Consulting in the field of IT financial management. Serviceware benefits from this partnership, among other things, through access to Maryville's strong customer base of numerous Fortune 2000 companies and large corporations. This additional customer potential opens up significant growth opportunities for Serviceware. Serviceware has already achieved a first success resulting from the partnership by gaining a large US food group. During the reporting period, Serviceware also successfully entered the Asian market and recruited a Fortune Global 500 company in the oil industry as a customer.

Dirk Martin, CEO of Serviceware: "Serviceware had an excellent fiscal year 2023/2024 with four record quarters in a row. We have grown with a very significant improvement in earnings, successfully continued to implement our internationalization strategy and have also made very good progress in the expansion of our ESM platform. Our new AI Process Engine is revolutionary. It fundamentally changes the way companies create and implement service processes. We have a strong international team and innovative products that companies can use to automate all services and improve customer satisfaction. We are very confident about the current fiscal year and are also very optimistic about our development in the coming years."

The complete financial statements and the Annual Report 2023/2024 will be available for download from March 21, 2025 on www.serviceware-se.com in the Investor Relations section.

Webcast on 21 February 2025

Serviceware invites investors and media representatives to a video conference in German (10:00 a.m.) and English (4:00 p.m.) with CFO Harald Popp on February 21, 2025, during which the annual figures and the forecast will be explained. To take part in the event, please register using one of the following links:

Webcast in German at 10:00 a.m.: German earnings call – external registration page

Webcast in English at 4:00 p.m.: English earnings call – external registration page

About Serviceware

Serviceware is a provider of software solutions for the digitalization and automation of service processes (Enterprise Service Management), with which companies can increase their service quality and manage their service costs efficiently.

The Serviceware Platform consists of seamlessly integrated software solutions that can also be used independently of each other. Since 2018, Serviceware has been focusing on the potential of artificial intelligence in service management. Today, AI is the central innovation factor of the Serviceware Platform, which is constantly being further developed in the company's own AI competence center in cooperation with TU Darmstadt.

Serviceware partners with customers from strategic consulting through the definition of the service strategy to the implementation of the Serviceware Platform. Further components of the portfolio are safe and reliable infrastructure solutions as well as managed services.

Serviceware has more than 1,000 customers worldwide from various business sectors, including 18 DAX companies, as well as 5 of the 7 largest German companies. The head office of Serviceware is in Idstein, Germany. Serviceware employs more than 450 people at 14 international locations.

For more information, please visit www.serviceware-se.com.

Media Relations
edicto GmbH
Axel Mühlhaus/Doron Kaufmann
Tel. +49(0) 69/905505-52
Email: investor-relations@serviceware-se.com

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Emitter:	Serviceware SE Serviceware-Kreisel 1 65510 Idstein Germany
Contact Person:	Investor Relations edicto GmbH
Phone:	+49 69 90550552
E-Mail:	serviceware@edicto.de
Website:	www.serviceware-se.com/de
ISIN(s):	DE000A2G8X31 (Share)
Stock Exchange(s):	Regulated Market in Frankfurt; Free Market in Berlin, Dusseldorf, Stuttgart, Tradegate