DATAGROUP Sees Positive Growth in Q3, Confirms Full-Year Forecast

DATAGROUP SE reported a 7.5% year-over-year revenue increase in the third quarter of 2023/2024. The company's CORBOX core business continues to drive organic growth. Year-to-date, DATAGROUP has added 24 new customers and extended contracts with 51 clients, resulting in orders exceeding EUR 23 million.

The company's revenue for the third quarter amounted to EUR 131.8 million, an increase from EUR 122.6 million in the prior year. Over the first nine months, revenue rose by 2.9% to EUR 380.5 million. The gross profit increased by 6.6% to EUR 271.3 million.

DATAGROUP's CEO, Andreas Baresel, expressed satisfaction with the performance, pointing to robust order intake and successful investments in future technologies like AI and cybersecurity. The company also secured a significant contract for IT security at 24 universities in North Rhine-Westphalia.

Despite investments affecting earnings, the firm's full-year outlook remains positive. DATAGROUP expects continued revenue growth in FY 2023/2024, anticipating revenues between EUR 510–530 million, and maintaining EBITDA and EBIT forecasts.