UNDERLYING ORGANIC GROWTH AND ROBUST EARNINGS IMPROVEMENT
"The third quarter of 2024 was a strong quarter for Addnode Group, with underlying organic growth. EBITA improved by 52
percent to SEK 200 m and earnings per share increased by 181 percent to SEK 0.73. Although the economic situation was characterized by uncertainty, our strong positions in segments with structural underlying growth provide good prospects for upselling to existing customers."
Johan Andersson
President and CEO
THIRD QUARTER JULY 1 - SEPTEMBER 30, 2024
- Net sales increased by 3 percent to SEK 1,859 m (1,808), of which 2 percent was organic. Currency-adjusted organic growth was 3 percent.
- New transaction model for Autodesk software (agent model with commission revenue) was implemented in Europe. It is estimated that the Group's currency-adjusted organic growth would have amounted to approximately 16 percent under the previous reseller model.
- Gross profit increased by 9 percent to SEK 971 m (893), and the gross margin was 52.2 percent (49.4).
- EBITA increased by 52 percent to SEK 200 m (132), and the EBITA margin was 10.8 percent (7.3).
- The recurring revenue share was 74 percent (71).
- Operating profit increased by 96 percent to SEK 137 m (70), and the operating margin was 7.4 percent (3.9).
- Net profit for the period increased by 177 percent to SEK 97 m (35).
- Earnings per share increased by 181 percent to SEK 0.73 (0.26).
- Cash flow from operating activities amounted to SEK -133 m (-139).
- Acquisition of Addoceo AB in Sweden.
- Acquisition of Prime Aerostructures GmbH in Austria.
EVENTS AFTER THE END OF THE REPORTING PERIOD
- No significant events have occurred since the end of the period.
For more information, please contact:
Johan Andersson, CEO and President, Addnode Group
Phone: +46 (0) 704 20 58 31
E-mail: johan.andersson@addnodegroup.com
Kristina Elfström Mackintosh, CFO, Addnode Group
Phone: +46 (0) 70 633 89 90
E-mail: kristina.mackintosh@addnodegroup.com
About Addnode Group
Addnode Group acquires, operates and develops cutting edge enterprises that digitalise society. We are a leading global provider of software and services for design, construction, product data, and facility management. We also support the public sector with document and case management solutions. By acquiring new businesses and providing a growth platform for our subsidiaries, we create sustainable value growth.
Addnode Group has 2,700 employees and consists of around 20 companies with geographical presence in 19 countries across four continents. Net sales in 2023 amounted to SEK 7.4 billion. Addnode Group's Series B share is listed on Nasdaq Stockholm, in the Large Cap segment. For more information, please visit: www.addnodegroup.com.
This information is information that Addnode Group is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2024-10-24 07:30 CEST.
