DARMSTADT-EBERSTADT (dpa-AFX) - Germany's Software AG (STWRY.PK) reported Thursday that its first-quarter earnings before interest and tax or EBIT fell 90 percent to 3.1 million euros from last year's 30.0 million euros.
Operating net income, on a non-IFRS basis, was 13.0 million euros or 0.18 euro per share, compared to 25.3 million euros or 0.34 euro per share in the prior year.
Operating EBITA stood at 23.6 million euros in the first quarter, lower than 40.9 million euros last year. Operating margin fell to 11.2 percent from 19.9 percent a year ago.
Software AG reported 210.6 million euros in total revenue, up 2 percent from 206.0 million euros last year. Revenue growth was 2 percent at constant currency.
Group product revenue growth was 2 percent or 1 percent at constant currency to 169.8 million euros.
Looking ahead for fiscal 2023, the company reiterated its guidance, and continues to expect operating margin between 16 and 18 percent, and Group product revenue growth of between 6 and 10 percent at constant currency.
Further, in the medium term, Software AG continues to expect to reach an operating profit margin in the high twenties.
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