on OTRS AG (isin : DE000A0S9R37)

OTRS AG: Sustainable revenue growth in the 2023 financial year underpins strategic focus

OTRS AG, the global leader in service management suites, reported a revenue increase of 4.0% to EUR 12,312 thousand for 2023. The company's recurring revenues rose by 3.9% to EUR 11,158 thousand, aligning with its strategic focus. However, EBITDA fell to minus EUR 340 thousand due to significant investments.

Despite a challenging macroeconomic environment, OTRS AG met revenue forecasts. The company's investment in human resources, ERP systems, and market research partnerships influenced earnings, with net profit at minus EUR 1,079 thousand. Earnings for 2024 are expected to stabilize at previous levels with a projected revenue of EUR 12.6 million.

OTRS AG's focus on innovation and artificial intelligence strengthens its market position. CEO André Mindermann highlighted the importance of modernizing the OTRS platform to navigate future challenges and opportunities efficiently.

R. E.

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