19 July 2020

DATEV Managed Crisis Well During the First Half-Year 2020

Further turnover growth inspite of crisis. With fast customer support and strong resilience – CEO Mayr: „We managed the crisis quite well“.

During the first six months of the accounting year 2020 (1 January to 30 June) DATEV eG grew again by 4.3 percent compared to the same period last year. By midyear turnover reached 569.3 million euros (546.0 million previous year). „We managed the crisis quite well,“ commented Dr. Mayr, DATEV’s chief executive officer. „However, the question is how economic circumstances will change during the months to come. Recent forecasts show great uncertainties, effecting our business, too“.

The first half-year 2020 (1 January to 30 June) was influenced by the coronavirus pandemic. In March and April DATEV focussed mainly on solutions enabling tax consulting offices and companies to work from home. For a short time more than 10,000 remote workplaces a week were installed at DATEV customers‘ premises. Also popular was LEON, DATEV‘s plattform for video tutorials. The amount of registered users of this portal for digital media increased to more than 20,000 in a very short time – high above the usual amount. DATEV cloud solutions, such as Unternehmen online, also showed a growth of 21 percent by the end of June compared to year-end 2019.

In all, DATEV’s CEO was satisfied how DATEV gave advice and support to its members and customers during this crisis: „We were able to react very fast and offer relevant information and solutions. For this we won high praise from our users“. DATEV CFO Diana Windmeißer added: „This was possible due to our staff, managing this workload under immense time pressure from home“. About three quarters of DATEV employees have been working from home since the end of March. It allowed them to meet the additional demand due to the changed customer requirements.

Digital transformation makes it vital for enterprises to be alterable and reactive. Therfore, DATEV initiated a transformation process some time ago comprising processes, methods as well as organization and change of corporate culture. „With the corona experience we can state today that all measures taken within the scope of our transformation not only worked, but increased our resilience,“ said Mayr.

In order to meet future challenges DATEV continues to employ both professionals and newcomers. The number of employees was increased by 86 in the first half of 2020 – thus exceeding 8,000 for the first time. By 30 June 2020 DATEV had exactely 8,013 employees (30 June 2019: 7,760; 31 December 2019: 7,927).

The cooperative could also clearly expand its clientele – most of all tax consultants, auditors, lawyers, and their clients, mainly small and medium-sized enterprises. The number of customers increased within a year by 57,000 to roughly 382,000 (30 June 2019: 325,000).

Regarding the second half of 2020, DATEV’s chief financial officer Diana Windmeißer acts reserved: „So far DATEV managed well to get through this difficult time. We benefitted from our sustainability orientated business model. However, we go very slow, montoring all developments carefully. Regarding all these incalculables we can’t and we won’t make any forecasts for the full year“.

The supervisory board approved of the financial accounts 2019 (1 January to 31 December 2019) on 8 July 2020. „We are looking back on a strong accounting year 2019,“ says Windmeißer. With a turnover increase of 6.4 percent or 66.4 million euros to 1.1 billion euros it turned out to be higher than last year (2018: 5.7 percent). Especially sought after were online solutions and cloud related services.

Board member Windmeißer is pleased with the operating result: „In 2019 we invested considerably both in digital transformation and DATEV’s future viability.“ This among other factors caused the operating result of 60.6 million euros to stay with 14.0 million euros below last year’s amount. The cooperative’s members participate in this positive business development and will be refunded 5.0 percent or 45.4 million euros (2018: 43.0 million euros).