Haufe Group: Revenue of 393 Million Euros in Fiscal Year 2019/2020
Freiburg, 08/10/2020 – Haufe Group closed the fiscal year 2019/2020 with revenue of 393 million euros. Sales in the past fiscal year thereby almost reached the level of the year before (fiscal year 2018/2019: 407 million euros; sales decline of 3 percent). Continuous growth in digital solutions largely compensated for pandemic-related lost revenue for example, in the area of classroom seminars, in 2019/2020.
Haufe Group’s fiscal year 2019/2020 (July 1, 2019 to June 30, 2020) was essentially shaped by two factors, which were both triggered by the COVID-19 pandemic. Sales developed as planned for the first eight months (July 2019 to February 2020), but then increased in the last third of the fiscal year (March to June 2020) for digital solutions, while falling, for example, for classroom seminars, all of which had to be canceled during the lockdown.
Demand for digital solutions increases among freelancers and micro-enterprises
In the segment of freelancers and micro-enterprises, the past fiscal year saw a considerable rise in demand for digital, cloud-based solutions – for example, the online accounting and payroll products from lexoffice. Lexware, too, profited from increased demand. Growth in these segments confirms Haufe Group’s strategy of supporting freelancers and micro enterprises by providing automated and connected solutions for their business processes.
Growth in digital transformation offerings for medium-sized companies and large corpora-tions; lost revenue in classroom seminars in the training business
In the customer segment of medium-sized and large corporations, Haufe Group enjoyed strong growth in digital transformation offerings, remaining on track most notably in the first two-thirds of the fiscal year. Here, too, growth drivers were cloud-based HR solutions such as Haufe Talent Management and Haufe Zeugnismanager. Year on year, the company experienced clear double-digit percentage growth in this segment. Under the Haufe brand, Haufe Group brings together solutions that support companies in their change processes through consulting, software and training. Among these solutions are the training and professional development offerings of Haufe Akademie, which comprise digital and classroom learning. During lockdown, the business with classroom training was halted completely, leading to con-siderable lost revenue in this segment. In the same period, the demand for digital learning programs rose. To cater to this, more than 120 products were created or moved to digital learning formats at short notice. As a result, it was possible to acquire around 50,000 new participants during this time alone.
“Our strategy is effective, even in challenging times”
“Haufe Group’s formula of retaining a broad base is paying off. The strategy of empowering our different customers to transform themselves with digital solutions in increasingly dynamic markets is effective, even in challenging times,” say Birte Hackenjos, CEO, and Harald Wagner, CFO Haufe Group. Against the background of the impact of the COVID-19 pandemic on the global economy, the leadership duo sees it as a success that Haufe Group almost reached the revenue level of the previous year. They add: “We would like to thank our customers for the great trust they place in us. And we would like to thank our employees for their exceptional dedication every day, particularly over the past months.”
At the end of fiscal year 2019/2020, Haufe Group employed around 2,100 people in Germany and abroad.