On the basis of preliminary business figures for the third quarter of 2021 with a remaining high capacity utilisation in the IT services business and the highest number of working days in 2021 adesso is raising its full year 2021 forecast for sales (previously: > EUR 600 million) and the operating result EBITDA (previously: > EUR 89 million).

After the first nine months of the year, sales increased by 29 % to around EUR 496 million. The operating result EBITDA reached around EUR 81 million after nine months (before special effect: EUR 63.3 million, previous year: EUR 47.1 million) and benefited from a remaining high utilisation and booking intensity in the IT services business and the highest number of working days in the third quarter 2021. The EBITDA margin of over 14 % was largely generated by IT-services and professional services, in contrast to previous year's quarter which saw the highest volume in licence sales. EBITDA reached the level of the previous quarterly high (before special effects).

Even if the pandemic-related risks for adesso's business tend to decrease further, dampening effects on the order and capacity utilisation situation in the final quarter cannot be completely ruled out. While investments remain noticeably in the product business, in the second half of 2021 for example, significant license agreements have not yet been signed as planned. With the pipeline still rated as good, depending on possible license sales the current final quarter therefore also offers opportunities to significantly exceed the minimum figures. Based on this assessment as well as the current knowledge from the preparation of the financial statements for the third quarter and the first nine months of the year, the Management Board now expects sales of > EUR 630 million and an EBITDA of > EUR 95 million for the Full year 2021. The minimum EBITDA margin will be raised to > 14% (previously: > 12%).

Explanations of the key figures used are published on the company's website at www.adesso-group.de/en/apm/. The complete interim announcement based on final figures will be published as scheduled on 15 November 2021 and will be available on the company's website at www.adesso-group.de/en/.

Contact:
Martin Möllmann
Manager Investor Relations
Tel.: +49 231 7000-7000
E-Mail: ir@adesso.de