Key points
• Revenue for 2024 amounted to €251.6 million, down 4% from 2023.
• Recurring revenue rose by 19% and made up 40% of revenue (32% in 2023).
• Added value as a percentage of revenue increased to 71.5% (69.0% in 2023).
• Operating profit came in at €23.9 million (€27.3 million in 2023) with an operating margin of 9.5% (10.4% in 2023).
• Operating margin in the second half of 2024 was 10.5%, up from 8.7% in the second half of 2023.
• Dividend for the 2024 financial year has been set at €3.20 (€3.20 in 2023).
Nedap CEO Ruben Wegman: "Our revenue in the second half year of 2024 shows that market conditions are improving, while our full-year figures reflect the challenges we faced throughout the year. Revenue for 2024 was 4% lower than in 2023. This was in large part due to a strong comparable base in early 2023 and slow market conditions in Livestock, which persisted throughout much of 2024. We made targeted efforts to reduce inventory levels, tempered the hiring of new talent in 2024 and controlled our operating costs. Recurring revenue continued its upward trend, growing by 19%, and now accounts for 40% of total revenue. At our Capital Markets Day in November, our positioning as a leading Digital Twin Technology company and our Create & Scale strategy for driving organic growth, were well received.
In the second half of 2024, improved market sentiment in our key markets resulted in increased demand for our solutions. We expect this upward trend to continue and anticipate revenue growth across all four key markets in 2025, unforeseen circumstances notwithstanding."
Read the full press release here:
https://nedap.com/wp-content/uploads/2025/03/Press-release-Annual-figures-2024.pdf
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