25 May weclapp grows again by more than 50% and achieves high annual net profit
- Business year 2020: Increase in turnover of about 58% and increase in EBITDA of more than 100%
- Growth course and internationalisation of weclapp will be further advanced
- Preparations for an IPO are underway
Frankfurt/Marburg/Kitzingen, 25 May 2021 – weclapp SE, provider of the cloud-based ERP platform of the same name, today presented its annual report for 2020 according to IFRS. The figures presented demonstrate the profitable growth course of the subsidiary of 3U HOLDING AG.
The turnover of weclapp SE increased by 57.6 % to 7.3 million euros in the 2020 financial year, compared to 4.7 million euros in the previous year. Earnings before interest, taxes, depreciation and amortisation (EBITDA) doubled to 2.6 million euros compared to 1.3 million euros the year before – the exact increase is 108.7 percent. The EBITDA margin is 35.9 %.
The cloud specialist was able to further increase its profitability despite the impressive growth rate. Thus, the annual profit rose by 26.9 % to 1.7 million euros compared to the previous year. Free cash flow rose by 47.0 % to 2.4 million euros. The company has no financial liabilities. Equity improved as expected to -0.6 million euros compared to -2.3 million euros as at 31 December 2019. The negative equity still results from the losses of the development phase. In view of the current business activities and the medium-term planning, the Executive Board assumes that the company will probably report positive equity from the operating business on the next balance sheet date (31 December 2021) in accordance with IFRS.
Ertan Özdil, CEO and founder of weclapp SE, says: “We are one of the fastest growing cloud ERP systems in Europe. This is once again proven by our figures for the 2020 financial year. In the new financial year, we will continue our growth course and the internationalisation of weclapp. To this end, in addition to expanding our platform, we also plan to penetrate existing customer segments and get a foothold in new industries. An important milestone on this path is the planned IPO. Preparations to achieve this important milestone are currently underway.”
Forecast for 2021
The Executive Board expects organic revenue growth for the 2021 financial year at a level between €11 million and €12 million. Despite further staff increases and higher expenses in the course of the ongoing internationalisation of the business, an EBITDA of between 3 million and 4 million euros and an annual result of between 2.0 million and 2.5 million euros are to be generated.
Small and medium-sized companies use weclapp’s cloud platform to simplify their everyday work and optimise their business processes. All data and processes are accessible from any location. The system is certified according to ISO 27001; its use is offered as Software-as-a-Service (SaaS). The programme can be expanded as desired in terms of functionality and scaled without limits in terms of capacity. The platform has already been named ERP system of the year four times.
The Executive Board has declared the expansion of the platform to include machine learning components and the use of artificial intelligence to be a strategically important goal. The team is already working on the first AI-based solutions. “We are pioneers in the cloud business. And cloud is the future. Therefore, in the medium and long term, we are aiming for a leading position in the German, European and international market for cloud-based enterprise software,” says CEO Ertan Özdil.
The annual report is available at https://www.weclapp.se/investor-relations/