Image: Nik Fleischmann
The annual result fell from 7.9 million euros to 6.8 million euros. Sales, on the other hand, rose by 18.8 percent to 69.2 million euros, the company announced on Wednesday. This was supported by growing recurring sales from “Software and Services”, which rose from 31.0 to 36.6 million euros.
On the other hand, investments in the development and expansion of “Fabasoft Proceco Solutions”, increased travel activities after the pandemic and higher costs for research and development had a negative impact on the operating result and profit, according to the company. The operating result fell from 11.5 to 10.0 million euros, earnings before interest, taxes, depreciation and amortization fell from 17.6 million to 16.8 million euros.
The Executive Board sees the rollout of the Proceco Solutions ecosystem, which offers digital solutions for document-intensive business processes, as a “milestone” that not only offers new opportunities for customers, but should also serve as a basis for the acquisition of new investments and partners. “We are convinced that we have found a new, attractive approach for cooperative strategic company investments that go beyond mere financial investments,” says the letter from the board of directors in the annual report.
At the same time, the Executive Board expects a further shortage of IT specialists in the future and thus increasing personnel and recruitment costs. However, Fabasoft is currently achieving “good success” in the search for new specialists. At the end of March, Fabasoft employed 451 people, compared to 386 a year earlier.
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