30.10.2023 EXASOL AG  DE000A0LR9G9

EQS-News: Exasol publishes preliminary third quarter figures: ARR and operating result improved but below expectations - full-year guidance for 2023 adjusted


 

EQS-News: EXASOL AG / Key word(s): Change in Forecast/Preliminary Results
Exasol publishes preliminary third quarter figures: ARR and operating result improved but below expectations - full-year guidance for 2023 adjusted

30.10.2023 / 18:27 CET/CEST
The issuer is solely responsible for the content of this announcement.


Exasol publishes preliminary third quarter figures: ARR and operating result improved but below expectations - full-year guidance for 2023 adjusted

Nuremberg, Oktober 30, 2023: Exasol AG has increased its Annualized Recurring Revenue (ARR) to EUR 37.0 million at the end of the third quarter, based on unaudited preliminary results as of September 30, 2023 (September 30, 2022: EUR 33.5 million). This constitutes a growth of 10% compared to previous year's level at the same time of the year. This result does not yet take into account some significant contract upsells with existing customers, which were only closed just after the end of the quarter - including a contract extension and expansion with the leading German e-commerce retailer Otto Group, a long-standing Exasol customer. As of October 27, 2023, the ARR therefore had already further increased to a total of EUR 38.3 million (+14% year-on-year). As was expected, this constituted a meaningful growth acceleration compared to the first half of the year.

"The third quarter showed increasing momentum in ARR development, even though some contracts could not be closed until early October," says Jörg Tewes, CEO of Exasol. "However, despite the positively developing momentum, our expectations were not fully met. Especially in new customer acquisitions, we did not yet reach our targets. The adjustment of our strategic positioning conducted earlier this year does not yet unfold its full potential”, continued Jörg Tewes. "Due to this delay in new customer business as well as overall higher than expected contract reductions in EMEA, we are not yet able to generate growth to the extent expected at the beginning of the year."

Adjusted operating profit (adj. EBITDA) improved to EUR -4.1 million in the period January to September 2023, following a loss of EUR 8.7 million in the prior-year period. Cash and cash equivalents stood at EUR 14.7 million as of Sept. 30, 2023. This reduced the operating cash outflow after nine months to EUR -4.8 million (9M 2022: EUR -10.3 million).

Despite the pick-up in ARR momentum in the third quarter and the positive year-on-year development in earnings, expectations for business performance at the beginning of the year were higher. Main driver for the deviation is a lower than expected development in the EMEA North (UK) region, while DACH and North America regions developed largely according to plan. Against this background, the Executive Board no longer considers the financial targets for fiscal year 2023 to be realistic and is adjusting the forecast for the financial year. The company now expects an ARR of EUR 40.0 to 42.0 million at the end of the year (previously: EUR 42.5 to 44.0 million; Dec. 31, 2022: EUR 35.3 million). Based on the reduced growth expectation and due to later contract signings in 2023, the Executive Board expects an adj. EBITDA of EUR -5.5 to -4.5 million for the full year (previously: EUR -3 to -1 million; 2022: EUR -13.4 million). The break-even in adj. EBITDA, originally expected for the fourth quarter, will therefore likely be missed. Cash and cash equivalents at the end of the year are expected to be at EUR 11.0 to 13.0 million (previously: EUR 15.8 to 17.8 million).

"Even though we will likely miss the target of breaking even in the fourth quarter, we will take the necessary measures to ensure a timely breakeven latest by mid-2024", explains Jan-Dirk Henrich, CFO at Exasol. "In addition, with regard to our liquidity, we will see positive catch-up effects in the first quarter of 2024 from incoming payments of some significant new contracts that were closed with a delay compared to the original expectation.”

Final third quarter figures will be published on November 14, 2023.

 

Investor Relations contact

Christoph Marx
Head of Investor Relations
Tel: +49 911 2399 114
E-Mail: [email protected]


 

 



30.10.2023 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.
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Language: English
Company: EXASOL AG
Neumeyerstraße 22-26
90411 Nuremberg
Germany
Internet: www.exasol.com
ISIN: DE000A0LR9G9
WKN: A0LR9G
Listed: Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt (Scale), Hamburg, Munich, Stuttgart, Tradegate Exchange
EQS News ID: 1760841

 
End of News EQS News Service

1760841  30.10.2023 CET/CEST

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Die wichtigsten Finanzdaten auf einen Blick
  2017 2018 2019 2020 2021 2022 2023e
Umsatzerlöse1 16,97 17,72 21,61 23,60 27,46 33,19 41,00
EBITDA1,2 3,53 1,77 -10,96 -29,94 -25,67 -12,16 -5,45
EBITDA-Marge3 20,80 9,99 -50,72 -126,86 -93,48 -36,64
EBIT1,4 -1,86 -0,10 -13,16 -34,10 -28,50 -14,92 -8,60
EBIT-Marge5 -10,96 -0,56 -60,90 -144,49 -103,79 -44,95 -20,98
Jahresüberschuss1 1,32 -0,63 -13,98 -34,33 -29,30 -15,01 -8,90
Netto-Marge6 7,78 -3,56 -64,69 -145,47 -106,70 -45,22 -21,71
Cashflow1,7 1,81 1,23 2,23 -11,21 -36,07 -14,28 -8,00
Ergebnis je Aktie8 0,06 -0,03 -0,63 -1,40 -1,20 -0,61 -0,33
Dividende8 0,00 0,00 0,00 0,00 0,00 0,00 0,00
Quelle: boersengefluester.de und Firmenangaben

  Geschäftsbericht 2022 - Kostenfrei herunterladen.  
1 in Mio. Euro; 2 EBITDA = Ergebnis vor Zinsen, Steuern und Abschreibungen; 3 EBITDA in Relation zum Umsatz; 4 EBIT = Ergebnis vor Zinsen und Steuern; 5 EBIT in Relation zum Umsatz; 6 Jahresüberschuss (-fehlbetrag) in Relation zum Umsatz; 7 Cashflow aus der gewöhnlichen Geschäftstätigkeit; 8 in Euro; Quelle: boersengefluester.de

Wirtschaftsprüfer: KPMG

INVESTOR-INFORMATIONEN
©boersengefluester.de
Exasol
WKN Kurs in € Einschätzung Börsenwert in Mio. €
A0LR9G 2,695 Kaufen 72,45
KGV 2025e KGV 10Y-Ø BGFL-Ratio Shiller-KGV
0,00 8,10 0,00 -4,61
KBV KCV KUV EV/EBITDA
12,07 - 2,18 -4,89
Dividende '22 in € Dividende '23e in € Div.-Rendite '23e
in %
Hauptversammlung
0,00 0,00 0,00 20.06.2024
Q1-Zahlen Q2-Zahlen Q3-Zahlen Bilanz-PK
07.05.2024 14.08.2024 14.11.2023 07.05.2024
Abstand 60Tage-Linie Abstand 200Tage-Linie Performance YtD Performance 52 Wochen
-13,15% -7,77% -14,31% -39,51%
    
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