Light (sustainable) & shadow (temporary)
- M+M Software +8.5% / lean costs / strong Cashflow
- Profit in Q3 diluted by Autodesk headwinds
- Strong Q4 estimated / medium-term targets confirmed

Wessling, October 20, 2026 – Sustainable growth in M+M Software, lean expenses and strong cash flow provide a lot of light on the nine months report of Mensch und Maschine Software SE (MUM - ISIN DE0006580806), a CAD/CAM/BIM specialist company. On the other hand, headwinds from the Autodesk business continued to cast a shadow over the results; however, rising new sales caused this impact to fade sufficiently during Q3 that hardly any further drag is expected in the final quarter.

Nine months Group sales have increased to EUR 189.34 mln (PY: 177.10 / +6.9%), with EUR 93.44 mln (PY: 85.99 / +8.7%) from M+M Software and EUR 95.90 mln (PY: 91.11 / +5.3%) from Digitization. Gross profit from M+M Software climbed by +8.5% to EUR 84.10 mln (PY: 77.54) - an enormous step compared to +3.7% in 2025. M+M’s share also increased in Digitization, but the segment‘s gross profit was diluted to EUR 50.89 mln (PY: 58.16 / -12.5%) due to the still strong Autodesk headwinds. Thus 9M group gross profit amounted to just EUR 134.99 mln (PY: 135.70 / -0.5%). 

Expenses were below PY due to the continued streamlining of the organization, so operating profit EBITDA amounting to EUR 46.51 mln (PY: 45.05 / +3.3%) remained on its growth trajectory despite the slight gross profit dip. Due to higher depreciation, operating profit EBIT at EUR 36.93 mln (PY: 37.18 / -0.7%) was slightly below PY, with EUR 29.09 mln (PY: 24.63 / +18%) from M+M Software and EUR 7.83 mln (PY: 12.55 mln / -38%) from the Digitization segment. 

Net profit amounted to EUR 23.38 mln (PY: 24.27 / -3,7%), or 142 Cents (PY: 145 / -2.2%) per share. Operating cash flow, which in 2023/24 had benefited significantly from billing time differences for Autodesk 3YR contracts and in 2025 was correspondingly lower, is on the rise again at EUR 27.72 mln (PY: 16.62), or 168 Cents per share (PY: 99).   
For founder/chairman Adi Drotleff and CFO Markus Pech, the sustainable positive effects carry clearly more weight than the temporary earnings dip: “Even though the +11-19% target range for the 2026 earnings appears ambitious based on the nine-month figures, we continue to see the chance to reach the lower half of this range with a strong Q4. And as we no longer expect any drag from the Autodesk business from 2027 onwards, and given the reduced cost base, we are clearly maintaining our target of doubling EPS in the 5 years from 2025 to more than 380 Cents in 2030.”
Cover story of the 9M report 2026:
“Thanks to AI: Database queries in natural language instead of SQL”