Total assets increased to EUR 109.3 million from EUR 99.9 million in 2022. The increase was mainly due to the increase in the working capital items, Trade receivables and Contract work in progress, net, as a result of the increased activity level.

 

As a result of the loss for the year, equity decreased by EUR 1.0 million to EUR 47.2 million. The solvency ratio was 43% as of 31 December 2023 and the solvency ratio remains strong, despite current year loss.

 

Management is not aware of any events subsequent to 31 December 2023 that are expected to have a material impact on DHI's financial position.

 

Increasing inflation and salary levels remain a risk as fully compensating index adjustments in consultancy and software sales prices are not always possible due to various contract terms. These factors are expected to have a negative impact on EBIT in 2024. In addition, the development of the financial markets and the geopolitical instability and the related consequential impacts remain uncertain. Despite these headwinds, we expect revenue to continue to grow and profitability to improve. For 2024, we expect revenue in the range of EUR 130-140 million, and a positive EBIT in the range of EUR 0-2 million, due to efficiency measures taken.