By Mauro Orru
Atoss Software, the German maker of workforce management software, experienced a surge in its shares during Tuesday morning trading. This positive momentum came after the company announced an upward revision of its guidance for the year, driven by significant growth in the first half.
At 08:30 GMT, Atoss Software shares witnessed an impressive 8.4% increase, reaching EUR225.00.
The group revealed on Monday that it now expects to achieve a minimum revenue of 142 million euros ($159.6 million) in 2023. This is a notable increase from their previous forecast of EUR135 million. Additionally, their anticipated earnings before interest and taxes margin is projected to be approximately 30%, surpassing the previous estimate of at least 27%.
Jefferies analysts expressed their opinion in a note to clients that this guidance appears somewhat conservative, considering that the second half of the year generally demonstrates stronger sales and margin performance.
Atoss Software adjusted their forecasts in response to a remarkable 37% revenue growth in the first half, amounting to around EUR73 million. Out of this total, EUR52 million was derived from their software division. Notably, the company achieved an EBIT margin of approximately 33% during this period.