Mensch und Maschine posts record 9M results ahead of Autodesk shift

On Friday, Mensch und Maschine Software SE (MUM - ISIN DE0006580806) reported the highest nine-month (9M) results in its history, with a significant boost in the third quarter (Q3) earnings ahead of its transition to the new Autodesk (NASDAQ:ADSK ) partner model. The CAD/CAM/BIM specialist company noted an impressive final reselling surge prior to the switch in September.

The company's 9M sales reached €270.08 million, marking an 11.5% increase from the previous year's €242.21 million. This surge was attributed to a 39% peak in Q3 revenue. Gross profit also reached a new high at €135.05 million, up 7.2% from the prior year's €126.00 million, with Q3 witnessing a 9.4% rise following a 6.2% growth in the first half of the year.

Earnings before interest and taxes (EBIT) for the 9M period were at a record €38.10 million, an 11% increase from the previous year's €34.41 million. The growth in Q3 escalated to 25% after a 6.3% rise in the first six months. Net profit after minority shares grew by 14.6% to €24.39 million, equivalent to 144 cents per share, compared to the previous year's 127 cents per share. The third quarter alone saw a 31.5% increase.

The company also reported a strong operating cash flow, slightly above the previous year at a record €52.78 million, or 312 cents per share, compared to €48.61 million or 290 cents per share in the prior year.

Looking ahead, Mensch und Maschine's CFO Markus Pech and Chairman Adi Drotleff are maintaining the 2024 target ranges of an 8-10% increase for gross profit and a 10-20% rise for earnings per share (EPS) to 189-206 cents per share. They are also aiming for a dividend target of 185-195 cents per share, up from the previous year's 165 cents. For 2025, they anticipate a steeper profit growth of 12-25% and are planning to increase dividends by 25-35 cents. The two-year average EPS growth target for 2024/25 remains at the 17% per annum achieved in 2022/23.

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Source: Investing.com