Another Successful Business Year 2022 for Smart Commerce

Jena, Dornburg, 11th May, 2023 - The 11th ordinary Annual General Meeting of Smart Commerce SE took place on May 11th at Dornburg Castles. At the meeting, held in the Imperial Hall of the Old Castle, the Board reported on the business development and financial results of 2022 and provided an outlook for the current year.

  • 11th consecutive profitable year: absolute EBIT of over 1 million € and EBIT margin of 11.5%
  • Highest dividend ever (same as last year) of 50 cents per share
  • Share price reaches record value of €19.54 (up 20%)

Dr. Ludger Vogt, Chairman of the Board, explained the business development of the past year 2022. Customer-wise, it was characterized by:

(1) Strategic cooperation with Fischerwerke, including the "myfischer" and "Construction Monitoring" projects

(2) Continuous development of the commerce solutions of our premium customers

(3) A successful initiative to acquire 5 new customers in 2022 and 2 new customers in Q1 2023.

In collaboration with Fischerwerke, the "Construction Monitoring" was developed. The solution was the overall winner of the MIMA competition (Microsoft Intelligent Manufacturing Award). The MIMA awards creative and innovative digital solutions that pave the way for a new, transformative generation of manufacturing. Matthias Schneider, CDO of Fischerwerke, received this award on April 18th, 2023, at the Hannover Messe.

New customers also include Deutsche Telekom, where Smart Commerce carried out the construction of several Intershop environments with the underlying VESPA shop for fixed network customers in a short period of time and migrated them to a Linux cluster.

The acquisition of the omnichannel and cloud expert Quajoo GmbH in September 2022 was another outstanding event. Smart Commerce thus complements its portfolio with the omnichannel platform NewStore and becomes significantly more international: For example, Quajoo customers worldwide in the Active Lifestyle segment include Rapha, GANNI, Marine Layer, R.M. Williams, and Outdoor Voices.

Frank Schneider, Board Member for Finance and Controlling, provided a financial review. The company has been continuously profitable since its founding in 2012; 2022 was the tenth complete profitable fiscal year in a row since its inception; with the profitable founding stub fiscal year 2012, there are 11 profitable business years. The earnings expectation was exceeded in the past fiscal year; EBIT amounted to over 1 million EUR, or 11.5% (target was 10%). On this financial basis, an "IAB Bonus" (inflation compensation bonus) of 150 thousand EUR was paid out to employees. The company value is determined annually using the simplified earnings value method, §§199 to 203 of the German Federal Evaluation Act; the share grew by 20% to a record value of 19,54 € The company achieved approximately 10 million EUR in revenue in 2022, less than planned. The "Flexforce Concept" (flexibly employed external developers) served to secure EBIT in case of fluctuations in revenue or order backlog.

The outlook for the ongoing fiscal year 2023 provided by Ingo Körber, board member at the Leipzig location, was positive despite the current economic situation. A profitable fiscal year with an EBIT margin of 10% is still planned. The demand for SAP Commerce, Intershop Commerce, and Spryker Commerce experts is good for both existing and new customers. Smart Commerce is pursuing a growth strategy and continues to search for experienced employees in the eCommerce field (Intershop Commerce, SAP Commerce, Spryker Commerce).

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