Slides
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Welcome to the Vitec company presentation Interim report January-December 2024 Olle Backman, CEO Vitec Software Group olle.backman@vitecsoftware.com Patrik Fransson, Investor Relations patrik.fransson@vitecsoftware.com Financial calendar Interim report Jan–Mar 2025 Apr 23, 2025, 8:00 a.m. Annual General Meeting Apr 29, 2025, 5:30 p.m. Interim report Jan–Jun 2025 Jul 11, 2025, 8:00 a.m. Interim report Jan–Sep 2025 Oct 16, 2025, 8:00 a.m. Year-end report, Jan–Dec 2025 Feb 6, 2026, 8:00 a.m.
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Sales by market Vitec Software Group 26,000 45 12 customers business units countries 3,626 87% 1,660 MSEK proforma net sales proforma recurring revenues employees A leader in Vertical Software
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Strategy chain To contribute to the success of our custo- mers by developing and providing standardized and niched business- critical software. Brand promise To rely on - today and tomorrow Business concept • Our products – our foundation • Keep it simple • Trust and transparency Values Shaping a wiser and more sustainable future Vision To be a profitable and sustainable growth company that develops and acquires vertical software companies. Objective Goals supporting the direction
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Business units Responsible growth Acquire • Vertical • Established and profitable • Proprietary software • Recurring revenues Develop • Decentralized organization • Product investments • Organic growth Business model • Market leader • High percentage of recurring revenues
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LDC Bidtheatre Taxiteknik Trinergy Olyslager Roidu Figlo Software for labor mobility in the Netherlands, by career coaching, matching candidates with the right vacancies or training. A Demand Side Platform (DSP) for programmatic advertising – software supporting media agencies in Sweden and Norway. A complete business system, including booking and driver apps, for taxi companies primarily in Sweden. Vitec holds a majority stake. A business-critical software that contributes to sustainable and efficient energy management of the property industry in Belgium. Vitec holds a majority stake. The software is an integral part of their customers’ workflow and operates as a matching tool to find the required lubri- cant or fluid type for a specific vehicle or machinery. A patient, customer and employee experience survey tool for the healthcare and social welfare sectors in Finland. Software for financial planning and mortgage calculations on the Dutch market. Annual sales MSEK 23 Recurring revenue 92% Annual sales MSEK 113 Recurring revenue 99% Annual sales MSEK 20 Recurring revenue 92% Annual sales MSEK 40 Recurring revenue 93% Annual sales MSEK 139 Recurring revenue 100% Annual sales MSEK 27 Recurring revenue 90% Annual sales MSEK 49 Recurring revenue 90% Registered office NL Registered office SE Registered office SE Registered office BE Registered office NL Registered office FI Registered office NL Employees 9 Employees 9 Employees 6 Employees 24 Employees 39 Employees 17 Employees 36 2024 Figures as per acquisition date
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Annual sales per vertical Healthcare and welfare Finance & Insurance Auto repair shops Property management Trade and manufacturing industry Archives Energy Real estate agents Churches Fast moving consumer goods Waste management Education Pharmacies Media Process industry and energy companies Organizations, associations and golf courses Hair and beauty salons Labor mobility Travel and hospitality Transport Laundry industry
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Business unit Reg. office Acq. Year Annual Sales 2024, SEKm (recurring share = red) Recurring 2024 Vitec Futursoft FI 2016 91% Vitec HK data NO 2019 90% Vitec Hotelinx FI 2022 87% Vitec Katrina FI 2019 89% Vitec LDC NL 2024 95% Vitec Megler NO 2012 97% Vitec Memorix NL 2023 66% Vitec MV DK 2017 94% Vitec Mäklarsystem SE 2010 99% Vitec Neagen FI 2023 43% Vitec Nordman SE 2021 95% Vitec Plania NO 2016 77% Vitec Raisoft FI 2022 80% Vitec Roidu FI 2024 83% Vitec Samfundssystem SE 2018 86% Vitec Scanrate DK 2022 98% Vitec Tietomitta FI 2016 93% Vitec Travelize SE 2021 88% Vitec Unikum SE 2021 90% Vitec Vabi NL 2021 99% Vitec Visiolink DK 2020 80% Vitec Visitor Systems SE 2018 88% Business unit Reg. office Acq. year Annual Sales 2024, SEKm (recurring share = red) Recurring 2024 ABS NL 2022 54% Olyslager NL 2024 99% Taxiteknik Nordic SE 2024 98% Trinergy BE 2024 99% Vitec Acute FI 2013 91% Vitec Agrando NO 2018 93% Vitec Alma FI 2020 64% Vitec Aloc DK 2014 88% Vitec Appva SE 2020 98% Vitec Autosystemer NO 2015 92% Vitec Avoine FI 2019 90% Vitec BidTheatre SE 2024 98% Vitec Capitex Finanssystem SE 2010 96% Vitec Cito DK 2018 78% Vitec Codea FI 2023 77% Vitec Datamann DK 2015 87% Vitec DocuBizz DK 2022 93% Vitec Energy SE 1998 92% Vitec Enova NL 2023 100% Vitec Fastighet SE 1985 79% Vitec Figlo NL 2024 78% Vitec Fixit NO 2019 96% Vitec Forsikring NO 2015 76% Our business units 0 50 100 150 200 250 0 50 100 150 200 250 (424) (283)
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Organization
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Sharing knowledge • Common culture • Sharing concept, forums for best practice sharing • Vertical clusters, opportunities across business units
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Interim period January-December 2024
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Summary of interim period, October–December 2024 • Net sales SEK 927 million (740), an increase of 25% • Recurring revenues SEK 769 million (611), an increase of 26% • EBITA SEK 269 million (224), an increase of 20% • EBITA margin 29% (30) • Operating profit SEK 178 million (146), an increase of 22% • Operating margin 19% (20) • Earnings per share before dilution SEK 2.43 (2.13), an increase of 14% • Cash flow from operating activities SEK 102 million (-11) • Acquisitions of Olyslager, Roidu and Figlo
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Summary of interim period, January–December 2024 • Net sales SEK 3,334 million (2,778), an increase of 20% • Recurring revenues SEK 2,878 million (2,346), an increase of 23% • EBITA SEK 1,002 million (876), an increase of 14% • EBITA margin 30% (32) • Operating profit SEK 697 million (590), an increase of 18% • Operating margin 21% (21) • Earnings per share before dilution SEK 10.74 (9.04), an increase of 19% • Cash flow from operating activities SEK 1,041 million (718) • The Board of Directors propose a dividend increase to SEK 3.60 per share (3.00)
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CAGR 21.1% SEK 3,334 million (2,778), an increase of 20% Net sales Net sales by year Net sales by quarter MSEK proforma net sales 3,626 SEK 927 million (740), an increase of 25%
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EBITA CAGR 27.0% SEK 1,002 million (876), an increase of 14% EBITA and EBITA margin by year EBITA and EBITA margin by quarter EBITA Margin YTD 30% SEK 269 million (224), an increase of 20%
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Allocation of recurring revenues Transaction-based revenues Subscription-based revenues
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Growth Acquired annual revenue Organic growth, proforma
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Organic growth net sales
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Diversification of sales Customers Breakdown of revenueSales by market January-December 2024 Number of customers 26,000
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Invest in Vitec Vertical Market Software Leader 40-year track record of sustainable profit growth driven by recurring revenues; Organic growth through innovation and investment in a well diversified product portfolio across several industries, and inorganic growth by acquiring high quality niched software companies. We tech society Full year 2024 • 20% overall growth, with 9% from organic expansion • Seven acquisitions and Belgium as a new home market • Continued strong and sustainable cash flow generation January-December 2024 • Net sales SEK 3,334 million (+20%) • Recurring revenue SEK 2,878 million (+23%) • EBITA SEK 1,002 million (+14%) • Operating profit SEK 697 million (+18%) • Earnings per share SEK 10.74 (+19%) • Cash flow from operating activities SEK 1,041 million (718)
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Q&A session Vitec Software Group develops and provides software for financial planning and mortgage calculations on the Dutch market.
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Appendix
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Consolidated statement of profit/loss Consolidated statement of comprehensive income
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Condensed consolidated statement of financial position
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Condensed consolidated statement of cash flow