- Sales growth of 91% and employee growth of 63
- EBIT grew by 63% and free cash flow by 42
- Share rises to record value of € 6.43 (plus 66%)
- Dividend of 40 cents per share
At the eighth Annual General Meeting of Smart Commerce SE held on May 15, 2020 (as a virtual AGM), the Management Board reported on the business development and financial results for 2019 and provided an outlook for the current year 2020.
The CEO, Dr. Ludger Vogt, explained the business development 2019, the seventh full financial year in the business development of Smart Commerce: The company grew by 91% from 2018 to 2019 to € 7,894 thousand in sales, more than planned. Smart Commerce has been consistently profitable since its formation in 2012; 2019 was the seventh profitable full financial year since its formation. The profit expectations were exceeded in the past financial year; EBIT was over 10% at T€ 828. Free cash and cash equivalents grew by 42% to T€ 2,619 at the end of 2019, while total assets grew by 52% to T€ 4,507. The enterprise value (according to the simplified earnings value method) rose to T€ 4,534 and the share to a peak value of € 6.43 (plus 66%).
On this basis, the Annual General Meeting approved a dividend payment of €0.40 per share. Since the employees also have a material interest in Smart Commerce SE, they participate in the increase in value of the company (share) and in the distribution of profits (dividend) in accordance with the amount of their shareholding. The Annual General Meeting approved a new 2020 participation offer to employees (employee shares) and authorized the Management Board to acquire and use treasury shares for participation purposes.
Despite the current economic crisis, Ingo Körber, member of the Executive Board at the Leipzig location, did not see a negative outlook for the current fiscal year 2020. Profitable growth with an EBIT margin of 10% is still planned. As expected, demand for C/4Hana and Intershop experts is high among both existing and new customers. The high number of new eCommerce experts hired in 2019 was particularly encouraging. Smart Commerce is pursuing a growth strategy and continues to seek experienced employees in the field of eCommerce (Intershop Commerce, SAP Commerce / Hybris, Spryker).
Further resolutions of the Annual General Meeting were the unanimous discharge of the Management Board and Supervisory Board. Felix Geyer, software developer at Smart Commerce SE, has been elected as employee representative on the Supervisory Board for the period until the end of the Annual General Meeting 2022. In addition, Ms Claudia Rothe, managing director for finance, controlling, law and insurance and information technology of the fischer group of companies, was elected as a substitute member of the Supervisory Board.