OTRS AG, the manufacturer and world’s largest service provider for the OTRS service management suite, looks back on a successful fiscal year 2020. Despite the major impact of the Corona pandemic on the global economy, OTRS AG has continued to grow and significantly increased profitability.
Due to the high agility of the entire company, revenues increased by 5.8% to EUR 9,708 thousand in the reporting year (2019: EUR 9,178 thousand). Once again, recurring revenues proved to be the largest revenue driver. These increased by 13.1% to EUR 8,855 thousand (previous year: EUR 7,833 thousand). In terms of total revenues, recurring revenues accounted for 91.2% (previous year: 85.3%). The recurring revenues mainly comprise annual contracts providing access to OTRS software in various forms plus security, software updates and support. The adopted strategy of relying increasingly on recurring revenue sources in order to generate a revenue stream that is as permanent as possible continues to prove correct and forward-looking.
The significant increase in earnings is a direct consequence of the sustained focus on recurring revenues. In terms of operating earnings before interest, taxes, depreciation and amortization (EBITDA), OTRS AG was able to increase again in the reporting period, recording a significant rise of 43% from EUR 1,611 thousand in the previous year to EUR 2,308 thousand in 2020. Earnings before interest and taxes (EBIT) also rose dramatically to EUR 1,761 thousand, compared to EUR 1,115 thousand in the previous year. Based on this success, OTRS AG will, for the first time in the company’s history, submit a dividend proposal of EUR 0.07 per no-par value share that is entitled to a dividend (total EUR 134,141.00) during the Annual General Meeting to be held on August 24, 2021.
With the launch of OTRS 8, OTRS AG achieved another highlight that contributed to the company’s success in 2020. With a new user interface and numerous personalization options, OTRS 8 represents a milestone in the development of the software. Immediately after the release and throughout the year, OTRS AG experienced high demand for the solution.
“Our great success in 2020 is based on several factors. First and foremost, it is the great OTRS team that gives its best every day with passion and commitment and is an important partner for our customers on their way into the digital future. What also benefited us is that our own employees were used to working from home. This means we already had the right digital solutions in place and have an appropriate employee culture that allows us to work from the home office with ease. In addition, the Corona pandemic has accelerated digitalization even further. With OTRS 8 and a new version of STORM powered by OTRS, we offer our customers solutions to meet the challenges of advancing digitalization and cybercrime. In this way, we can and will jointly benefit from this major transformation,” says André Mindermann, CEO of OTRS AG.
For fiscal year 2021, management expects continued profitable growth. Revenues are expected to increase in the order of 5% despite the ongoing Corona pandemic. The forecasted total revenue for fiscal year 2021 will be >EUR 10 million for the first time. The company is thus following the trend of continuous, sustainable growth.
Detailed information can be found in the annual report on the company website https://corporate.otrs.com in the Investor Relations section (the English report will be available on August 24, 2021).
About OTRS Group
OTRS Group is the manufacturer and the world’s largest provider of the service management suite OTRS, awarded with the SERVIEW CERTIFIED TOOL seal of approval.
It offers companies industry-independent solutions for structured communication in customer service, IT service management and security management. In addition to the core product OTRS, the security solutions STORM and CONTROL ensure efficient cybersecurity incident management and transparent documentation in accordance with standards such as ISO 27001.
Among its customers are Lufthansa, Airbus, IBM, Porsche, BSI (Federal Office for Security in Information Technology), Max Planck Institute, Toyota and TUI Cruises. The company consists of OTRS AG and its six subsidiaries OTRS Inc. (USA), OTRS S.A. de C.V. (Mexico), OTRS Asia Pte. Ltd. (Singapore), OTRS Asia Ltd. (Hong Kong), OTRS do Brasil Soluções Ltda. (Brazil) and OTRS Magyarország Kft. (Hungary). OTRS AG is listed on the basic board of the Frankfurt Stock Exchange. For more information, see www.otrs.com.
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