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Software AG said on Wednesday that operating profit and revenue fell in the fourth quarter of 2020 and released a forecast for the new year.
The German software company said non-IFRS operating profit fell to 62.5 million euros ($ 76 million) from 84.2 million euros a year earlier, its non-IFRS operating margin. -IFRS falling to 26.3% against 33.0%. Non-IFRS figures are based on calculations containing certain adjustments.
Non-IFRS net profit fell to 50 million euros from 61.6 million euros.
Software AG achieved fourth quarter IFRS revenue of € 237.8 million, compared to € 255 million, penalized by the sale of its professional services business in Spain. Product turnover fell to 201 million euros from 205.9 million euros.
“Software AG’s product revenue results continue to see the impact of the group’s move to subscription, where a greater share of the revenue earned by the group is recorded in future periods rather than initially.” , the company said. However, quarterly bookings reached 188.2 million euros from 152 million euros, he said.
For 2021, Software AG projects a non-IFRS operating margin of between 16% and 18%, with product revenue growth between 0% and 5% at constant exchange rates.
Write to Mauro Orru at [email protected]; @ MauroOrru94
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