DARMSTADT-EBERSTADT (dpa-AFX) - Germany's Software AG (STWRY.PK) reported that its second quarter non-IFRS net income declined to 13.0 million euros from 28.4 million euros in the prior year.
Software AG's earnings before interest and tax or EBIT was 22.3 million euros down from 31.9 million euros in the prior year.
The Group's operating EBITA (non-IFRS) was 54.3 million euros compared to 49.4 million euros in the prior year.
Daniela Bünger, Software AG CFO, said, 'Our second-quarter results were driven by the ongoing migration to subscriptions in the Adabas & Natural segment. This is part of our plan and we will continue to encourage A&N customers to migrate.'
Total revenue for the second quarter of 2023 were 248.4 million euros compared to 226.9 million euros in the prior year. It represented growth of 9 percent or 14 percent at constant currency.
The Group reiterated its guidance for the full 2023 year. The guidance ranges were, except for margin, presented at constant currency.
The company still expects annual operating margin (EBITA, non-IFRS) to be between 16 and 18 percent; group product revenue growth of between 6 and 10 percent.
For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com
Copyright(c) 2023 RTTNews.com. All Rights Reserved
Copyright RTT News/dpa-AFX