Q2 2024 SNP Schneider Neureither & Partner SE Earnings Call Transcript
Key Points
- SNP Schneider-Neureither & Partner SE reported strong revenue growth, increasing from EUR 48.5 million to EUR 62 million, with a notable 64% increase in software revenue compared to Q2 2023.
- The company successfully resolved a legal dispute with the community of heirs, receiving over 99% shareholder approval for the agreement.
- The partner business accounted for 54% of total order entry in H1, demonstrating strong strategic growth and collaboration with major IT players.
- SNP raised its revenue guidance to a range of EUR 225 million to EUR 240 million and increased its EBIT forecast to between EUR 16 million and EUR 20 million.
- The company achieved a significant improvement in EBIT, with a EUR 9 million increase and a threefold improvement in EBIT margin compared to H1 2023.
- Despite strong topline growth, the updated guidance implies a lower H2 growth rate of around 8% and an EBIT margin of roughly 5%, which may be seen as conservative.
- Personnel costs increased due to higher headcount and salary adjustments, impacting overall expenses.
- The company experienced increased travel and marketing expenses, partly due to efforts to expand into new markets like Brazil, Nordics, and the Middle East.
- Payments from lease liabilities increased significantly, influenced by the acquisition of the Trigon Group.
- The operating cash flow in Q2 was negative, primarily due to bonus and variable payments for the successful year 2023, reducing the strong Q1 cash flow.
Good afternoon ladies and gentlemen and welcome to the SNPSE conference call regarding the Q2 2024 results. (Operating Instructions) Let me now turn the floor over to your host, Marcel Wiskow.
Yes. Thank you, operator. Thank you very much. Good afternoon ladies and gentlemen. Thanks for your participation at this investor call. This morning we released our second quarter results for the year. You can find, as always, the report in the corporate news on our website in the section Investor Relations. Joining me in this call is our CEO of the company, Jens Amail. As usual, he will guide you through the first part of the presentation containing the summary of the reported numbers and the forecast for the whole year 24. Also with me in this call, Andreas Röderer, our CFO. He will give you a more detailed insight of the financials.
And as usual, we will finalize this call with a Q&A session so you get the chances to answer your questions. So with this introducing
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