Based on the very positive business development, the Executive Board has increased the revenue guidance for fiscal year 2023 as already announced in the ad hoc release of October 23, 2023. The currency-adjusted revenue growth is now expected to be in a range between 6% and 8% (previously: 4% and 6%). The Executive Board expects the EBITDA margin to be at the upper end of the previously communicated range of 28% to 30%. Furthermore, it is still expected that the ARR growth will exceed 25% compared to the previous year, resulting in a share of recurring revenues in total revenues of more than 75% in 2023 (previous year: 66%). Furthermore, the Executive Board confirms the revenue and profitability ambitions for the financial years 2024 and 2025 communicated in March 2023.
The guidance is based on the assumption that the global macroeconomic or sector-specific conditions will not deteriorate significantly in 2023. Furthermore, no additional potential negative effects from the current developments in the Middle East conflict and the ongoing war in Ukraine are reflected in the outlook.
Overview of quarterly key figures (Q3-23)
| In EUR million | Q3 2023 | Q3 2022 | Δ in % |
Δ in %
FX-adj |
| ARR | 664.0 | 550.6 | +20.6% | +25.4% |
| Revenues | 219.8 | 202.8 | +8.4% | +12.6% |
| - thereof software licenses | 44.0 | 56.6 | -22.2% | -19.1% |
| - thereof recurring revenues | 166.0 | 137.7 | +20.6% | +25.4% |
| - Subscription + SaaS (part of recurring revenue) | 77.4 | 54.4 | +42.3% | +48.6% |
| EBITDA | 71.4 | 62.9 | +13.6% | +20.2% |
| Margin | 32.5% | 31.0% | ||
| EBIT | 56.6 | 48.0 | +17.9% | |
| Margin | 25.7% | 23.7% | ||
| Net income (Group shares) | 45.0 | 38.8 | +16.1% | |
| Earnings per share in EUR | 0.39 | 0.34 | +16.1% | |
| Net income (Group shares) before amortization of purchase price allocation (PPA) | 50.9 | 45.5 | +11.9% | |
| Earnings per share before PPA in EUR | 0.44 | 0.39 | +11.9% |
Overview of quarterly key figures per segment* (Q3-23)
