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QPR QPR Software Interim Report January - March 2021 QPR SOFTWARE STOCK EXCHANGE RELEASE , APRIL 23 , 2021 AT 9:00 AM Profitability improved and net sales increased , driven by software sales January - March 2021 ☐ Net sales increased to EUR 2,904 thousand ( January – March 2020 : 2,789 ) . | Software net sales increased 6 % , license and SaaS net sales grew , but maintenance net sales decreased . ☐ Consulting net sales were on the same level as in previous year . International net sales represented 50 % of Group net sales ( 50 ) . | Operating result ( EBIT ) increased to EUR 286 thousand ( 45 ) and was 10 % of net sales ( 2 ) . Expenses were smaller than in the previous year mainly due to smaller reseller commissions . Direct sales represented a significantly larger proportion of software sales than in the previous year . Result before taxes EUR 206 thousand ( 36 ) . Earnings per share EUR 0.014 ( 0.001 ) . Business operations QPR Software's mission is to make customers agile and efficient in their operations . We innovate , develop , and sell software aimed at analyzing , monitoring , and modeling operations in organizations . Furthermore , we offer customers consulting services related to our software . Outlook for 2021 ( unchanged ) The exceptional circumstances caused by the pandemic continue to have an impact on our business , but we are already seeing signs of normalization in software purchase decisions . Based on actual sales performance in early 2021 and current sales funnel , QPR expects net sales to grow in 2021 ( 2020 : EUR 8,971 thousand ) . QPR plans to moderately increase its sales , marketing and product development costs this year . Despite the planned increase in costs , the Company estimates EBITDA and operating result to improve compared to 2020 . KEY FIGURES EUR in thousands , unless otherwise indicated Jan - Mar , 2021 Jan - Mar , 2020 Change , % Jan - Dec , 2020 Net sales 2,904 2,789 4 8,971 EBITDA 566 390 45 248 % of net sales Operating result % of net sales 19.5 14.0 2.8 286 45 530 -936 9.8 1.6 -10.4 Result before tax Result for the period % of net sales Earnings per share , EUR ( basic and diluted ) 0.014 0.001 1,450 -0.068 Equity per share , EUR 0.176 0.224 -21 0.161 Cash flow from operating activities 906 409 122 334 206 36 467 -952 170 11 1,450 -812 5.9 0.4 -9.0