All for One Group SE — Earnings Release 2024

Aug 8, 2024

Strong order intake // Significant sales growth in CORE segment // Management board confirms guidance for 2023/24 despite challenges

REVENUE
in EUR millions
10/2023 - 06/2024	$10 / 2022-06 / 2023$
378.8	363.8
$+4 \%$
RECURRING REVENUE
in EUR millions
10/2023-06/2024	$10 / 2022-06 / 2023$
210.7	198.3
$+6 \%$

EBIT BEFORE M\&A EFFECTS (NON-IFRS)

in EUR millions

$10 / 2023-06 / 2024$	$10 / 2022-06 / 2023$
20.7	11.4
$+81 \%$

RESULT FOR THE PERIOD
in EUR millions
10/2023-06/2024	$10 / 2022-06 / 2023$
10.4	6.9
$+51 \%$

• Sales increase organically by $4 \%$ to EUR 378.8 million (Oct 2022 - Jun 2023: EUR 363.8 million); recurring revenues increase by $6 \%$; share of recurring revenues increases to 56\% (Oct 2022 - Jun 2023: 55\%)
• Licence revenues (incl. commission) well above the prior-year period
• »Land and Expand« strategy leads to high order intake in the CORE segment; strong focus on SAP conversions (migrations)
• EBIT before M\&A effects (non-IFRS) grows by $81 \%$ to EUR 20.7 million; EBIT margin before M\&A effects (non-IFRS) increases to 5.5\% (Oct 2022 - Jun 2023: $3.1 \%)$
• Internal transformation programme to secure future business requirements proceeds according to plan
• 2023/24 outlook confirmed

PROMISING »LAND AND EXPAND" STRATEGY AND GROWTH IN THE CLOUD

Against the backdrop of an uncertain geopolitical situation and the current economic challenges in Central Europe with weak or declining growth, there are still some delays in project starts. However, the robust and strong order situation makes us very confident. According to the industry association Bitkom, the IT services market is expected to grow by $4.5 \%$ this year, with an investment focus on cloud transformation, according to the Lünendonk study and Bitkom. For All for One, the market's focus on SAP ERP transformations to SAP S/4HANA - ideally directly into the cloud - is relevant. This was further reinforced by SAP's announcement last year. This is because SAP's announced end of maintenance in 2027 and the lack of delivery of innovations in the on-premise environment will continue to motivate companies to increasingly tackle SAP transformations.

As an SAP-award-winning leading industry and cloud specialist in Central Europe, All for One has the opportunity to benefit from this trend at an early stage. The awards received at this year's SAP Quality Awards in three out of four categories for outstanding projects in the core industries as well as in the categories of Large Business Transformation Projects and SAP S/4HANA Cloud also confirm the company's focus and expertise in the upper midmarket and cloud business.

Due to an increasingly emerging »Land and Expand« strategy, the customer focus is on the necessary SAP ERP transformations (»Land«). Investments in end-to-end LOB solutions are being made downstream (»Expand«). More and more customers are opting for an integrated solution approach based on SAP, which will create great potential for specialist solutions in the coming years. As a system integrator with a wide range of services and integration expertise, All for One can benefit from this. For a smooth and attractive transition to the cloud, more and more customers are opting for »RISE with SAP«. In contrast to previous on-premise licence projects, where recurring maintenance revenues were invoiced from the conclusion of the contract, there are time shifts here due to the model. SAP's one-off revenue from RISE is due at closing; However, implementation, consulting services and recurring revenues do not start until a few months after the contract has been signed - with a corresponding impact on sales revenues.

This is the basis of the growth strategy of the All for One Group in the coming years. The early adaption to changes in the market environment, especially to the shift of the SAP portfolio to the cloud and the successful restructuring in the CORE segment have proven to be forward looking steps. The cloud-first approach, the expansion of its port- folio of products and services and its »CONVERSION/4« migration model are increasingly bearing fruit, which makes it possible to successfully meet the changing requirements of customers.

ALL FOR ONE ALSO OFFERS CUSTOMERS »GROW WITH SAP"

With the »Grow with SAP« certification, All for One can support SMEs in making a smooth transition to cloud ERP. The offering encompasses products, best practice support, accelerating services, a community and training options to help customers transition to SAP S/4HANA Cloud, Public Edition. The certification, based on strict criteria for market maturity is awarded subject to compliance with SAP's strict market maturity and competence status, emphasises All for One's many years of experience as one of the most successful SAP partners worldwide. It guarantees customers predictable, cost-efficient and rapid implementation as well as future-proof scalability. SMEs will be able to implement a cloud-based ERP solution with high speed, predictable costs and continuous innovation.

TRANSFORMATION PROGRAMME ON TRACK

The strategic expansion of the top management, which is intended to help position the Group as an international IT, consulting and service provider, has been completed. The internal transformation programme to ensure future business requirements is also proceeding according to plan. The technology shift to the cloud, but also the increased focus on the upper midmarket segment, require different skills and advanced qualifications. Cloud architects and end-to-end process consultants are the resources of the moment and are correspondingly scarce on the market. As a result, the Group is investing heavily in retraining and training measures such as cloud certifications, process know-how or language courses - also in the Regional Delivery Centers in Egypt and Turkey. As this is a timeconsuming transformation process - transparency of skills, definition of measures and implementation - more and more external resources currently have to be purchased in order to complete projects. Change management means effort, which is being invested accordingly, particularly in the structural, procedural and organisational set-up. All for One is fundamentally changing its business model, i.e. the way in which customers are supported, an expanded range of proactive services and how projects are realised. This also requires an organisational transformation.

SHARE BUYBACK PROGRAMME

On 12 October 2022, All for One Group SE resolved to implement a share buyback programme via the stock exchange valid for the period from 13 October 2022 to 12 October 2023 to repurchase up to 100,000 treasury shares, representing a volume of EUR 5.5 million (excl. transaction-related costs). On 12 October 2023, it was

decided to extend the current share buyback programme until 11 October 2024. Under this programme, a total of 81,997 shares with a value of EUR 3.7 million were repurchased up to 30 June 2024.

RESULTS OF OPERATIONS

Sales development
in KEUR	$\begin{gathered} 10 / 2023- \ 06 / 2024 \end{gathered}$	$\begin{gathered} 10 / 2022- \ 06 / 2023 \end{gathered}$
Cloud services and support (1)	105,608	94,087
Software licences and support (2)	114,353	106,860
Software licences	23,365	17,390
Software support (3)	90,988	89,470
Consulting and services	144,815	148,082
CONVERSION/4 (4)	14,067	14,736
Total	378,843	363,765
Cloud and software revenue (1)+(2)	219,961	200,947
Recurring revenue (1)+(3)+(4)	210,663	198,293

The market's focus on SAP ERP transformations to SAP S/4HANA, ideally directly into the cloud, was further strengthened by SAP's announcement last year. The end of maintenance and the lack of delivery of innovations in the on-premise environment will continue to drive companies to increasingly tackle SAP transformations. As a result of this period of upheaval, investments in the existing SAP ERP ECC system are declining, which is currently leading to reduced demand for consulting services.

In the first nine months of 2023/24, Group sales revenues of EUR 378.8 million were $4 \%$ higher than the prior-year figure of EUR 363.8 million. Against the backdrop of an uncertain geopolitical situation and the current economic challenges in Central Europe, there are significant fluctuations in contract signings and delays in project starts. However, the robust and still strong order situation makes us very confident, as the strong order intake in the 3rd quarter suggests that a good 4th quarter can be expected.

Recurring revenues, which are easier to budget, increased by $6 \%$. The continuing trend towards the cloud is particularly evident in the cloud services and support revenues (plus 12\% to EUR 105.6 million), whereas software support sales increased only slightly to EUR 91.0 million (plus 2\%). Sales associated with the CONVERSION/4 service model remained constant at EUR 14.1 million (Oct 2022 - Jun 2023: EUR 14.7 million) due to some project postponements. Together, these recurring revenues of EUR 210.7 million account for 56\% (Oct 2022 - Jun 2023: 55\%) of total sales.

Licence revenues (incl. commission) were slightly above expectations at EUR 23.4 million (plus 34\%) in the 9-month period 2023/24. As these reflect the growing demand from new and existing customers for cloud-based SAP S/4HANA solutions (RISE), they should continue to develop positively in the 4th quarter. Due to weaker capacity utilisation in the LOB segment, consulting and services revenues declined by $2 \%$ to EUR 144.8 million (Oct 2022 - Jun 2023: EUR 148.1 million).

Earnings performance

in KEUR	$\begin{gathered} 10 / 2023 \ 06 / 2024 \end{gathered}$	$\begin{gathered} 10 / 2022- \ 06 / 2023 \end{gathered}$
Sales revenue	378,843	363,765
Cost of materials and purchased services	$-135,830$	$-129,214$
Personnel expenses	$-176,055$	$-173,615$
Depreciation, amortisation and impairment on intangible, fixed and right-of-use assets	$-20,322$	$-21,606$
Impairment losses on financial assets	$-336$	$-403$
Restructuring expenses	0	$-6,887$
Other operating expenses/income	$-29,874$	$-22,089$
EBIT	16,426	9,951
Financial result	$-1,015$	$-1,664$
EBT	15,411	8,287
Income tax	$-4,989$	$-1,401$
Result for the period	10,422	6,886

The cost of materials and purchased services rose by $5 \%$ to EUR 135.8 million in line with sales. In particular, increased revenue for cloud services and licences contributed to an increase in the cost of materials. The cost of materials ratio remains unchanged at $36 \%$.

Personnel expenses increased overall by 1\% to EUR 176.1 million, while the ratio of personnel expenses to sales improved from $48 \%$ to $46 \%$. The increase in other operating expenses and income to EUR 29.9 million (plus 35\%) was mainly attributable to the absence of acquisition-related income following the early increase of the stake in All for One Poland in the prior year as well as increased expenses for customer events and training.

Reconciliation to EBIT before M\&A effects (non-IFRS)

in KEUR	$\begin{gathered} 10 / 2022- \ 06 / 2024 \end{gathered}$	$\begin{gathered} 10 / 2022- \ 06 / 2023 \end{gathered}$
Earnings before interest and taxes (EBIT)	16,426	9,951
+ impairment of goodwill	0	0
+ acquisition-related depreciation, amortisation and impairment on other intangible assets	4,247	4,700
+/- other acquisition-related expenses (and income)	0	$-3,258$
EBIT before M\&A effects (non-IFRS)	20,673	11,393

In the first nine months of 2023/24, EBIT before M\&A effects (non-IFRS) increased significantly by $81 \%$ to EUR 20.7 million (Oct 2022 - Jun 2023: EUR 11.4 million). Adjusted for the one-off restructuring expenses of EUR 6.9 million in the prior-year period, EBIT before M\&A effects (non-IFRS) increased by 13\% from EUR 18.3 million to EUR 20.7 million in the first nine months of 2023/24. The corresponding EBIT margin before M\&A effects (non-IFRS) was 5.5\% (Oct 2022 - Jun 2023: 3.1\%). In the same period, EBIT increased by $65 \%$ and totalled EUR 16.4 million. At $4.3 \%$, the EBIT margin is above the prior year level (Oct 2022 - Jun 2023: 2.7\%).

In Q3 2023/24, sales rose only slightly by 2\% to EUR 122.3 million due to the aforementioned effects, while EBIT before M\&A effects (non-IFRS) rose to plus EUR 3.0 million (Apr 2023 - Jun 2023: minus EUR 1.9 million). Adjusted for the one-off restructuring expenses in the prior-year period, EBIT before M\&A effects (non-IFRS) decreased by EUR 2.1 million in Q3 2023/24.

At minus EUR 1.0 million, the financial result for the 9month period 2023/24 was up on the prior-year period (Oct 2022 - Jun 2023: minus EUR 1.7 million) despite higher financing interest from an increased promissory note volume. The improvement is due to the increase in interest income. EBT totalled EUR 15.4 million (plus 86\%). At EUR 5.0 million (Oct 2022 - Jun 2023: EUR 1.4 million), income taxes were significantly higher than the previous year, which was influenced by tax differences relating to the acquisition of shares in All for One Poland. The result for the period increased by $51 \%$ to EUR 10.4 million and earnings per share by $54 \%$ to EUR 2.09.

Sales revenue and earnings performance by segment

	CORE		LOB
in KEUR	1,420,374	10/2022 -	10/2023	10/2022 -
	06/2024	06/2023 *	06/2023	06/2023 *
Statement of profit and loss
External sales revenue	330,222	313,917	48,622	49,848
Intersegment revenue	4,534	5,265	7,545	8,861
Sales revenue	334,756	319,182	56,167	58,709
Segment EBIT (EBIT before M\&A effects (non-IFRS))	16,411	6,427	4,264	4,976
Segment EBIT margin before M\&A effects (non-IFRS) (in \%)	4.9	2.0	7.6	8.5

1) Prior-year figures adjusted

With a good order situation and stable capacity utilisation, sales in the CORE (ERP and collaboration solutions) increased by $5 \%$ to EUR 334.8 million over the 9 -month period 2023/24. The strong growth in cloud business made a major contribution to this increase. EBIT before M\&A effects (non-IFRS) in the CORE segment increased by $155 \%$ to EUR 16.4 million following the successful completion of a restructuring programme, which led to one-off expenses of EUR 6.9 million in the prior-year period, and due to the strong licence business (incl. commission) in the 1st quarter 2023/24. The EBIT margin before M\&A effects (non-IFRS) was 4.9\%.

The LOB (Lines of Business) segment offers additional growth and margin potential through recurring cloud subscriptions and the Group's own add-on solutions. Capacity utilisation in the LOB (lines of business) segment, especially in consulting, fell short of expectations due to the current stronger focus of customers on the urgently needed conversion in the core system ERP (»Land«). This was stable in the areas of employee experience and business analytics, but restrained overall (»Expand«). The customer experience area, which was well below plan, reflects SAP's current pricing and version policy. Price increases, new product developments and fundamental architecture revisions have led companies to adopt a wait-and-see approach. LOB segment sales decreased by 4\% to EUR 56.2 million. EBIT before M\&A effects (non-IFRS) was EUR 4.3 million. The segment's EBIT margin before M\&A effects (non-IFRS) of 7.6\% (Oct 2022 - Jun 2023: $8.5 \%$ ) is lower than the prior-year level.

ASSETS AND FINANCIAL POSITION

Assets position

The balance sheet total as of 30 June 2024 fell by $8 \%$ to EUR 314.8 million (30 Sep 2023: EUR 341.7 million). Accordingly, assets declined in value by EUR 26.8 million. In particular, cash and cash equivalents fell by minus EUR 19.6 million to EUR 43.0 million. This resulted from bonus and severance payments, the distribution of the dividend and final purchase price payments from past transactions. Trade receivables fell by a total of EUR 1.4 million to EUR 60.3 million.

Liabilities amounted to EUR 211.7 million (30 Sep 2023: EUR 241.6 million) as of 30 June 2024 and decreased by $12 \%$. Trade payables fell by EUR 4.4 million to EUR 25.9 million and liabilities to employees (prior-year bonuses and severance payments from restructuring) by EUR 9.4 million to EUR 24.3 million. Other liabilities decreased by $47 \%$ to EUR 10.0 million mainly due to final purchase price payments from past transactions.

Equity increased by 3\% to EUR 103.1 million, while the equity ratio increased to 33\% (30 Sep 2023: 29\%). Net debt now amounts to EUR 73.4 million (30 Sep 2023: EUR 58.6 million).

Financial position

Cash flow from operating activities amounted to EUR 15.0 million (Oct 2022 - Jun 2023: EUR 16.1 million). Compared to the prior year, All for One Group recorded significantly higher cash outflows for trade payables (minus EUR 8.1 million).

Cash flow from investing activities totalled minus EUR 7.3 million (Oct 2022 - Jun 2023: minus EUR 27.4 million). The cash outflows in the prior year included in particular higher payments from the purchase of the outstanding stake in All for One Poland.

Cash flow from financing activities amounted to minus EUR 27.2 million (Oct 2022 - Jun 2023: minus EUR 22.5 million). The repayment of lease liabilities (EUR 11.4 million), the payment of the dividend (EUR 7.2 million) and the repayment of a promissory note (EUR 4.0 million) had a significant impact in this financial year.

Cash funds totalled EUR 42.3 million as of 30 June 2024 (30 Jun 2023: EUR 43.3 million).

EMPLOYEES

	10/2023 06/2024	10/2022 - 06/2023
Employees
Number of employees (period end)	2,793	2,853
Number of full-time equivalents (Ø)	2,501	2,521
Non-financial performance indicators
Employee retention (in \%)	89.5	90.4
Health index (in \%)	96.5	96.3

The IT sector continues to suffer from a shortage of specialists. For the Group, sustained business success is closely linked to highly qualified employees, which is why it is continuing to invest more in recruiting, developing and retaining staff. The Regional Delivery Centers in Poland, Turkey and Egypt provide key support for upholding and further enhancing the quality and speed of customer support.

At 89.5\%, employee retention is slightly below the prioryear level and All for One Group believes it to be in line with the industry average. At 96.5\%, the health index is marginaly above the previous year.

OUTLOOK

The management board is holding firm to its guidance for financial year 2023/24. As things stand at present, and based on a robust and further improved order intake in the 3rd quarter as well as the strong pipeline (RISE and GROW), the management board of All for One Group expects sales to be between EUR 505 million and EUR 525 million in financial year 2023/24 (2022/23: EUR 488 million). Additional measures to reduce costs and increase efficiency should help ensure that EBIT before M\&A effects (non-IFRS) continues to be in a range between EUR 32 million and EUR 36 million (2022/23: EUR 17.7 million).

In light of the global uncertainty prevailing in the markets, it is again difficult at present to offer a medium-term outlook. All for One Group is budgeting for robust organic sales growth over the coming years in the mid-single-digit percentage range (depending on future inflation levels, among other things) that will be supplemented by inorganic growth in areas of the portfolio offering future promise. The Group expects EBIT before M\&A effects (non-IFRS) to range between $7 \%$ and $8 \%$ of sales revenues in financial year 2024/25.

CONSOLIDATED STATEMENT OF PROFIT AND LOSS OF ALL FOR ONE GROUP

FROM 1 OCTOBER 2023 TO 30 JUNE 2024

in KEUR	$10 / 2023-$ $06 / 2024$	$10 / 2022-$ $06 / 2023$	$04 / 2024$ $06 / 2024$	$04 / 2023-$ $06 / 2023$
Sales revenue	378,843	363,765	122,279	120,354
Other operating income	3,723	8,453	1,277	1,073
Cost of materials and purchased services	$-135,830$	$-129,214$	$-43,670$	$-42,332$
Personnel expenses	$-176,055$	$-173,615$	$-58,860$	$-58,323$
Depreciation, amortisation and impairment on intangible, fixed and right-of-
use assets	$-20,322$	$-21,606$	$-6,698$	$-7,166$
Impairment losses on financial assets	-336	-403	-363	-173
Restructuring expenses	0	$-6,887$	0	$-6,887$
Other operating expenses	$-33,597$	$-30,542$	$-12,352$	$-9,944$
EBIT	$\mathbf{1 6 , 4 2 6}$	$\mathbf{9 , 9 5 1}$	$\mathbf{1 , 6 1 3}$	$\mathbf{- 3 , 3 9 8}$
Financial income	999	250	312	150
Financial expense	$-2,014$	$-1,914$	-693	-654
Financial result	$\mathbf{- 1 , 0 1 5}$	$\mathbf{- 1 , 6 6 4}$	$\mathbf{- 3 8 1}$	$\mathbf{- 5 0 4}$
EBT	$\mathbf{1 5 , 4 1 1}$	$\mathbf{8 , 2 8 7}$	$\mathbf{1 , 2 3 2}$	$\mathbf{- 3 , 9 0 2}$
Income tax	$-4,989$	$-1,401$	-667	1,183
Result for the period	$\mathbf{1 0 , 4 2 2}$	$\mathbf{6 , 8 8 6}$	$\mathbf{5 6 5}$	$\mathbf{- 2 , 7 1 9}$
attributable to owners of the parent	10,287	6,764	525	$-2,747$
attributable to non-controlling interests	135	122	40	28
Earnings per share
Undiluted and diluted earnings per share (in EUR)	2.09	1.36	0.11	$-0.55$

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME OF ALL FOR ONE GROUP

FROM 1 OCTOBER 2023 TO 30 JUNE 2024

in KEUR	$10 / 2023-$ $06 / 2024$	$10 / 2022-$ $06 / 2023$	$04 / 2024$ $06 / 2024$	$04 / 2023-$ $06 / 2023$
Result for the period	$\mathbf{1 0 , 4 2 2}$	$\mathbf{6 , 8 8 6}$	$\mathbf{5 6 5}$	$\mathbf{- 2 , 7 1 9}$

Items that might be reclassified to profit or loss in subsequent periods

Unrealised profits (+) / losses (-) from currency translation	2,096	1,939	229	1,631
Other comprehensive income	$\mathbf{2 , 0 9 6}$	$\mathbf{1 , 9 3 9}$	$\mathbf{2 2 9}$	$\mathbf{1 , 6 3 1}$
attributable to owners of the parent	12,405	8,709	755	$-1,115$
attributable to non-controlling interests	113	116	39	27

CONSOLIDATED BALANCE SHEET OF ALL FOR ONE GROUP

AS OF 30 JUNE 2024

Assets
in KEUR	30.06 .2023	30.09.2023
Current assets
Cash and cash equivalents	42,986	62,587
Finance lease receivables	4,747	4,205
Trade receivables	60,278	61,658
Contract assets	13,246	11,030
Income tax assets	2,459	2,910
Other assets	17,465	19,937
	141,181	162,326
Non-current assets
Goodwill	68,345	66,784
Other intangible assets	28,456	32,836
Fixed assets	15,162	17,322
Right-of-use assets	43,024	44,487
Finance lease receivables	8,876	7,167
Deferred tax assets	716	645
Other assets	9,049	10,084
	173,628	179,325
Total assets	314,809	341,652

Equity and liabilities

in KEUR	30.06 .2023	30.09.2023
Current liabilities
Other provisions	1,866	4,068
Liabilities to financial institutions	17	4,034
Lease liabilities	14,310	13,316
Trade payables	25,940	30,369
Contract liabilities	11,262	12,083
Liabilities to employees	24,288	33,714
Income tax liabilities	4,099	3,776
Other liabilities	9,102	17,173
	90,884	118,533
Non-current liabilities
Pension provisions	1,201	1,287
Other provisions	759	757
Liabilities to financial institutions	73,382	73,360
Lease liabilities	28,684	30,451
Deferred tax liabilities	15,913	15,463
Other liabilities	918	1,755
	120,857	123,073
Equity
Issued capital	14,946	14,946
Reserves	91,462	86,170
Treasury shares	3,661	$-1,373$
Share of equity attributable to owners of the parent	102,747	99,743
Non-controlling interests	321	302
	103,068	100,045
Total liabilities and equity	314,809	341,652

CONSOLIDATED CASH FLOW STATEMENT OF ALL FOR ONE GROUP

FROM 1 OCTOBER 2023 TO 30 JUNE 2024

in KEUR	$10 / 2023-$ $06 / 2024$	$10 / 2022-$ $06 / 2023$
Result for the period	$\mathbf{1 0 , 4 2 2}$	$\mathbf{6 , 8 8 6}$
Income tax	4,989	1,401
Financial result	1,015	1,664
Depreciation, amortisation and impairment on intangible, fixed and right-of-use assets	20,322	21,645
Increase (+) / decrease (-) in value adjustments and provisions	$-2,021$	5,442
Gains (-) / losses (+) from the disposal of non-current assets	-78	$-1,037$
Increase (-) / decrease (+) in trade receivables	1,703	661
Increase (+) / decrease (-) in trade payables	$-4,760$	3,311
Increase / decrease in other assets and liabilities	$-14,450$	$-19,285$
Interest received	984	250
Income tax refunds (+) / payments (-)	$-3,171$	$-4,860$
Cash flow from operating activities	$\mathbf{1 4 , 9 5 5}$	$\mathbf{1 6 , 0 7 8}$
Payments for purchase of intangible and fixed assets	$-1,381$	$-8,439$
Proceeds from sale of intangible assets and fixed assets	101	1,303
Purchase of subsidiary, net of cash and cash equivalents acquired	$-5,984$	$-17,429$
Payment for investment in other equity instruments	0	$-2,790$
Cash flow from investing activities	$\mathbf{- 7 , 2 6 4}$	$\mathbf{- 2 7 , 3 5 5}$
Repayment of lease liabilities	$-11,426$	$-12,004$
Repayment of liabilities to financial institutions	$-4,026$	-28
Payments for share buyback programme	$-2,200$	$-1,000$
Interest paid	$-2,325$	$-2,200$
Dividend payments to shareholders and non-controlling interests	$-7,206$	$-7,294$
Cash flow from financing activities	$\mathbf{- 2 7 , 1 8 3}$	$\mathbf{- 2 2 , 5 2 6}$
Increase (+) / decrease (-) in cash and cash equivalents	$\mathbf{- 1 9 , 4 9 2}$	$\mathbf{- 3 3 , 8 0 3}$
Effect of exchange rate fluctuations on cash funds	19	-73
Cash funds at start of period	61,797	77,201
Cash funds at end of period	$\mathbf{4 2 , 3 2 4}$	$\mathbf{4 3 , 3 2 5}$

ADDITIONAL INFORMATION

Basis of preparation

All for One Group SE, Filderstadt, (»All for One Group SE" or »Company«), is a European company (Societas Europaea, SE). The company is listed in the commercial register of the District Court of Stuttgart under registration number HRB 774576. Its registered office is Rita-MaiburgStrasse 40 in 70794 Filderstadt, Germany. All for One Group SE shares are listed in the Prime Standard of the Frankfurt stock exchange (ISIN: DE0005110001). All for One Group SE and the subsidiaries it controls (»All for One Group« or »Group«) unite strategic and management consulting, process consulting, industry insight and technology expertise, and IT consulting and services under one roof. This quarterly statement of All for One Group SE has been prepared in conformity with the International Financial Reporting Standards (IFRS) issued by the International Accounting Standards Board (IASB) and with Section 53 of the regulations issued by the Frankfurt Stock Exchange (FWB). The quarterly statement does not comply with the requirements of IAS 34 Interim Financial Reporting and has not been audited or reviewed.

This quarterly statement was prepared in accordance with the accounting and measurement methods applying as of 30 September 2023. The figures include all ongoing business transactions and accruals that the company deems necessary to ensure correct presentation of the interim results. The company believes that the information and explanations presented in this report present a true and fair view of its net assets, financial position and results of operations. In light of the business model and the associated volatilities, the interim results of the Group are not necessarily indicative of business performance over the further course of time.

The quarterly statement contains forecasts, estimates and expectations that involve risks and uncertainties. Actual results and developments may differ considerably from expectations and assumptions made. Such deviations may be the result of changes in the general economic situation and competitive environment, especially in the core business areas and markets, or amendments to laws, especially those governing taxation.

The reporting currency and functional currency of the quarterly statement of All for One Group SE is the euro (EUR). Unless otherwise indicated, all amounts are reported in thousands of euros (KEUR). For technical reasons, the information provided in these financial statements may contain rounding differences of +/- one unit (KEUR, \%, etc.).

The quarterly statement for the reporting period ending 30 June 2024 was approved for publication by the management board of All for One Group SE on 8 August 2024.

Subsequent events

No events occurred after the reporting date that have a significant impact on the net assets, financial position and results of operations of the All for One Group.

IR SERVICE

All for One Group's website offers extensive investor relations services. Apart from finding company reports, analyst reports, financial presentations and information about the annual general meeting, you can also add your name to the mailing list to receive press releases and financial announcements.
www.all-for-one.com/ir-english

ALL FOR ONE GROUP SE

All for One Group is an international IT, consulting and service provider with a strong SAP focus. Determined to translate technology into a clear business advantage, the Group specialises in specific sectors of industry, accompanying and supporting the sustainable transformation of its more than 3,500 midmarket customers in Germany, Austria, Poland and Switzerland on their journey to the cloud. Focus is on SAP S/4HANA, which forms the digital core for the industry-specific processes throughout a business. All for One Group is the leading SAP partner in Central and Eastern Europe, both for transformations to SAP S/4HANA using its innovative CONVERSION/4 model, and for SAP cloud business.

In financial year 2022/23, All for One Group SE generated sales of EUR 488 million with its team of almost 3,000 employees. The Group is based in Filderstadt near Stuttgart, in Germany, and is listed in the Prime Standard on the Frankfurt Stock Exchange.

All for One Group SE
Nicole Besemer
Senior Director
Investor Relations \& Treasury
Rita-Maiburg-Strasse 40
70794 Filderstadt
Germany
Tel. +49 (0) 711788 07-28