Jena, 04.05.2021 - At the 9th Annual General Meeting of Smart Commerce SE (and the second virtual AGM), held on May 4th, 2021, the Management Board reported on business development and financial results for 2020 and provided an outlook for 2021.
- Record growth: sales 44%, absolute EBIT 50% and free funding 41%
- Highest dividend in the company’s history: EUR 0,50 per share
- Share rises to record value of EUR 12,32 (+91%)
CEO, Dr. Ludger Vogt, shared the business development of 2020, which was shaped by
(1) the strategic cooperation with fischerwerke,
(2) the completion of the first Spryker project,
(3) the growth in SAP Commerce Cloud and the implementation of several SAP Commerce Cloud installations as well as
(4) the expansion of Intershop business with several new Intershop customers.
The last point was the main reason for Intershop’s “Partner of the Year DACH 2020” award.
The Corona pandemic led to a wide range of reactions from Smart Commerce SE’s customers: short time work, reduced external support and one project has been stopped. Smart Commerce introduced a company-wide home office, internal “manpower” shifts, an intensive qualification program (“Extended E-Program”) and a new recruitment policy. In the difficult and special situation employees had to face in 2020, Smart Commerce was able to pay out a “Corona Bonus” to all employees.
Frank Schneider, member of the Board of Management and responsible for Finance and Controlling, completed the financial review. With revenues in the amount of EUR 11,341 thousand in 2020, the company achieved an increase of 44% over the previous year and thus grew more than planned. Smart Commerce has been consistently profitable since it was founded in 2012; 2020 was thus the eighth profitable full business year in a row. With an absolute EBIT of EUR 1,402 thousand and an EBIT margin of over 12%, Profit expectations were exceeded in the past financial means grew by 41% to EUR 3,688 thousand. Total assets grew by 19% to EUR 5,368 thousand. The shareholder value / enterprise value (according to the simplified income method) grew to EUR 8,797 thousand and the share value reaches a record value of EUR 12,32 (+91%).
This is why the annual General Meeting approved a dividend distribution of EUR 0,50 per share. Since the employees also have a material stake in Smart Commerce SE, they participate in the company’s value increase (the share value pleasingly increased by 91%) and distribution of profits (dividend) according to the amount of their stake. The Annual General Meeting approved a new equity offer to employees in 2021 (employee shares). The increased annual tax and SV exemption of EUR 1,440 from the planned Found Location Act (FoStoG, adopted by the Finance Committee of the German Bundestag on April 22nd, 2021) has already been considered. The Management Board was authorized to acquire and use its own shares for the holding.
The forecast for the current financial year 2021 from Ingo Körber, Member of the Executive Board at Leipzig, was not negative despite the current economic situation. Profitable growth with an EBIT margin of 10% is still planned. Despite the Corona pandemic, the demand for SAP Commerce, Intershop Commerce and Spryker Commerce is pursuing a growth strategy and continues to seek experienced employees in the eCommerce environment (Intershop Commerce, SAP Commerce, Spryker Commerce OS).