17 March 2022

DATEV Reports Sustained Economic Growth

The IT service provider continues its positive development and increases its turnover by 5.5 per cent to 1.220 billion euros.

In the financial year under review, DATEV continued its sustained growth in recent years. The cooperative's turnover increased by 5.5 per cent to almost 1.220 billion euros (2020: 1.156 billion euros). In absolute figures, this represents an increase of 63.2 million euros. All products and offers contributed to this growth. *)

This second year of the COVID-19 pandemic and its uncertainties demanded a great deal from many DATEV members and their clients - tax consultants, auditors and lawyers, and their clients, primarily small and medium-sized enterprises. "This challenging situation, in particular, has shown that digitisation is a decisive factor for business success in consultancies and companies," said DATEV CEO Dr Robert Mayr. "Not only because it enables them to react quickly to changing circumstances, but also because it ensures smooth business processes. With our solutions and services, we are doing everything possible to support our members and their clients on this path".

DATEV's cloud-based services and solutions were in great demand, accounting for almost half (49 per cent) of the revenue growth. For example, the number of users of Unternehmen online, an application for digital cooperation between tax advisors and companies, showed 343,000 users at the balance sheet date - an increase of more than 73,000 compared to the previous year.

2.3 billion Documents Stored Digitally in the DATEV Cloud

DATEV's cloud-based services and solutions include DATEV Employee Online for digital access to payslips, data centre services for accounting, taxes and payroll, and services such as audit-proof archiving. By the end of 2021, almost 2.3 billion documents from more than 808,000 companies will be stored digitally in the DATEV Cloud - compared to 1.6 billion from 615,000 companies by the end of 2020.

Across all product areas, accounting again showed the highest absolute growth with an increase of 26.8 million euros (6.9 per cent). In total, revenues increased to 413.0 million Euros, accounting for 42 per cent of the total growth.The personnel management division generated revenues of 269.5 million euros, an increase of 5.7 million euros or 2.2 per cent. Due to the economic downturn, the number of payslips generated with DATEV software had declined in the previous year. The economic recovery - especially in the SME sector, to which many of DATEV's customers belong - increased the last year's figure and exceeded the monthly threshold of 14 million payslips. In 2021, 160.3 million salaries will be processed with DATEV software, 3.3 million more than in 2020.

Creating Long-term Value for Our Members and Customers

"All these figures show our cooperative's healthy and sustainable growth," says CFO Diana Windmeißer. "We don't want to increase turnover at any price but to create long-term value for our members and customers.

This success is based on DATEV's employees: At the end of 2021, DATEV had 8,351 employees, a net increase of 226. In the same period, the number of customers - consultancies, enterprises, and non-members supported by a consultancy – increased by almost 66,000 to 471,300 customers.

The operating result was 77.5 million euros, up 5.9 million euros from the previous year. The cooperative's characteristic of allowing all its members to participate in developing its business is reflected in this result: All members receive 48.9 million euros (2020: 47.1 million euros) in refunds from the cooperative. The refund rate of 5.0 per cent of the refundable annual turnover remains at the previous year's level. It will be paid after the approval of the annual accounts by the Representatives' Meeting on 24 June 2022.

*) These figures are provisional, as the annual accounts are subject to audit by the cooperative's auditor and will be submitted to the Representatives' Meeting for approval.