Market Overview

OTRS AG Publishes Annual Report for 2017: Growth Strategy Works – Solid Increase in Sales and Positive Outlook


Sales revenues increase solidly to EUR 7,645 thousand (previous year: EUR 7,254 thousand) -- EBITDA amount to EUR 510 thousand (previous year: EUR 534 thousand) -- High cash flow of EUR 1,703 thousand provides flexibility (previous year: EUR 981 thousand) -- Outlook 2018: Growth in total revenues to more than EUR 8 million and moderate increase in EBITDA

CUPERTINO, Calif. (PRWEB) August 09, 2018

OTRS AG (ISIN DE000A0S9R37) has published its 2017 annual report and its forecast for the current fiscal year in English.

OTRS AG, the world's largest service provider of the Open Source Management Suite OTRS, has achieved its goals in the 2017 fiscal year taking its strategy into account. Revenues increased by 5.4% to EUR 7,645 thousand, up from EUR 7,254 thousand in the previous year.

In particular, the Company recorded solid growth in the area of essential recurring revenues from OTRS Business Solution™. Its value rose by more than 13% from EUR 5,156 thousand to EUR 5,830 thousand. In terms of total revenues, the recurring revenues now account for 76.3% (previous year: 71.7%). The OTRS AG strategy has been to provide a more predictable and continuous flow of revenue: the Company is fully on track to reach this goal.

Earnings before interest, taxes and depreciation (EBITDA) amounted to EUR 510 thousand in the 2017 fiscal year. In the previous year, EUR 534 thousand was recorded. OTRS AG achieved an operating cash flow in the amount of EUR 1,703 thousand. In the previous year, this amounted to EUR 981 thousand.

Due to extensive research and development activities related to OTRS Business Solution™, the Group recorded solid growth with both domestic and foreign customers. In particular, sales in the home market were encouraging. In the current year, these increased by EUR 633 thousand (13.5%) resulting in revenues of EUR 5,322 thousand. Thus, OTRS AG generated 69.6% of its sales in Germany. In order to continue convincing customers of the advantages of the OTRS Business Solution™, the Company invested EUR 1,399 thousand in research and development activities during the past fiscal year. Earnings before interest and taxes (EBIT) amounted to EUR 128 thousand compared to EUR 131 thousand in the previous year.

"The positive business performance in 2017 proves that we are setting the right strategy. Through the successful expansion of recurring revenues, our business becomes more predictable and stands on a solid foundation. At the same time, we are concentrating even more on the fully-managed version of our product, thus addressing the growing demand for cloud-based solutions. According to current forecasts , the demand for cloud solutions in the B2B sector will increase steadily, and in the year 2020, it is expected to be at around EUR 22.5 billion. By focusing on the fully-managed solution, we are excellently positioned for the current fiscal year and look forward to the opportunities and challenges that 2018 offers us," says André Mindermann, CEO of OTRS AG.

Outlook for 2018

In light of the advancing digitization of a multitude of production and business processes, OTRS AG will drive forward the development of its software solutions in order to profit from the growing demand. A particular focus is on the internationalization of the software and the continued shift from project-related revenue sources to recurring revenues.

In the current fiscal year, the Management Board plans to further expand the revenues of the OTRS Business Solution™ Managed and cloud services. In line with the growth strategy, the Management Board anticipates growth of the total revenues by more than EUR 8 million and a moderate increase in EBITDA.

Detailed information on the fiscal year can be found at


OTRS AG is the world's largest provider of the Service Management Suite OTRS and offers flexible solutions for process and communication management to companies of all sizes in order to save time and money. Among its customers are Lufthansa, Airbus, IBM, Porsche, Siemens, Bayer Pharma AG, BSI (Federal Office for Security in Information Technology), Max Planck Institute, Toyota, Huawei, Hapag Lloyd and Banco do Brazil (Bank of Brazil). More than 170,000 companies worldwide use OTRS, including over 40 percent of the DAX 30 companies. OTRS is available in 38 languages. The Company consists of OTRS AG and its six subsidiaries: OTRS Inc. (USA), OTRS S.A. de C.V. (Mexico), OTRS Asia Pte. Ltd. (Singapore), OTRS Asia Ltd. (Hong Kong), OTRS do Brasil Soluções Ltda. (Brazil) and OTRS Magyarország Kft. (Hungary. For more information:

OTRS AG is listed in the Basic Board of the Frankfurt Stock Exchange (GSIN: A0S9R3).


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