Software AG Q2 Preliminary Organic EBIT Down

Software AG (STWRY.PK) reported that, on an organic basis, preliminary EBIT for the second quarter declined to 46.8 million euros from 50.1 million euros last year.

But on an organic basis, quarterly revenue rose to 219.9 million euros from 218.2 million euros in the prior year.

With the contribution of StreamSets, Software reported 226.9 million euros in group revenue in the second quarter.

The Group has decided to adjust its full year guidance for Digital Business bookings in 2022 to 12 to 18 percent growth. This is due to softer than expected second quarter Digital Business bookings performance, which was exacerbated to some extent by the early signs of prolonged customer decision-making due to the Group’s clients having to manage a changing macro environment.

All other full year 2022 guidance metrics remain unchanged, as do Software AG’s organic and total Group ambitions for 2023.

In addition, Software announced changes to its Management Board. The changes expand the Management Board to six members.

Joshua Husk has been appointed Group CRO, replacing Scott Little, who has left the company. Joshua will join Software AG’s Management Board.

Benno Quade has been appointed Group Chief Operating Officer and will join Software AG’s Management Board. Benno has been with Software AG for 10 years. He has held the positions of Chief Legal Officer, Chief Operating Officer for the go-to-market organization and has most recently held the post of Chief Customer Success Officer.

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