ATOSS Software AG Celebrates Strong Start to 2024 with Significant Growth in Q1

ATOSS Software AG reported a notable increase in revenues and profitability for the first quarter of 2024. The Munich-based workforce management company recorded a 16% rise in revenues, reaching EUR 41.8 million compared to the previous year's EUR 36.2 million. Accompanying this growth, operating earnings escalated by 21% to EUR 14 million with a profit margin (EBIT) of 34%, up from the previous 32%.

The software division was a significant driver of this growth, with revenues up by 18% to EUR 29.7 million. Particularly dynamic was the cloud and subscription segment, witnessing a 40% surge to EUR 16.4 million. This growth in the cloud business contributed to an increase in recurring revenues which rose by 27% to EUR 26.1 million, representing 62% of the total revenues.

The company’s robust start supports ATOSS Software's confidence in achieving its 2024 targets, emphasizing a consistent advance in the cloud sector and software-based workforce management solutions. Moreover, ATOSS anticipates maintaining a strong financial foundation, predicting total revenues around EUR 170 million and an EBIT margin of 30% for the year.