MapsPeople A/S | Inside Information
Company Announcement No. 4 - 2025
Aalborg, March 6, 2025
2024 Financial Highlights
- Revenue grew 54% from mDKK 40.5 in 2023 to mDKK 62.4. (Guidance mDKK 58 - 63).
- EBITDA before special items for 2024 ended at negative mDKK 29.7 compared to mDKK negative 59.7 in 2023. (Guidance mDKK -30 - -26).
- ARR grew 12% through 2024 from mDKK 52.0 at the end of 2023 to mDKK 58.2 by the end of 2024. (Guidance mDKK 59 - 63).
Business Summary
2024 was in many ways a continuation of all the transformation work initiated through 2023.
In 2024 we focused on building sustainable and efficient processes around all our core functions and a realignment in our go to market efforts focused on existing and new smart building application partners delivering more standardized solutions than historically.
In terms of ARR, the management team recommends looking at the average growth rates from 2023 and 2024 as a better representation of our growth than looking at each of those years individually. Over the past two years ARR has grown 82% corresponding to an ARR CAGR of 35%. Overall this is above market growth rates (CAGR according to Gartner is 30,9%).
With a better cost structure and more revenue the desired positive impact on MapsPeoples' EBITDA before special items has shown improvements from negative mDKK 59.7 in 2023 to negative mDKK 29.7 in 2024. Management believes that this is a satisfactory improvement in the light of the high growth rates and the needed investment to sustain a global leading market position.
Outlook 2025
While management believes the company has become more efficient and more competitive during 2024 and the overall market trends continue to be healthy, the expectations for 2025 are:
- End of 2025 ARR in the range of mDKK 70 - 80 corresponding to a growth in the range of 20% - 37%.
- 2025 revenues of mDKK 66 - 75 corresponding to 6% - 20% growth.
- EBITDA outlook for 2025 in the range of mDKK negative 10 - negative 20, constituting an improvement of 33% to 66% over 2024 results.
The growth in 2025 is expected to be evenly distributed between EMEA and North America.
Management Presentations
Management presentation of the 2024 annual report and the 2025 guidance will be hosted and moderated by HCA Capital on Monday March 10th at 14:00. There will be an opportunity to ask questions to management. Sign up for this event at:https://www.inderes.dk/videos/mapspeople-presentation-of-annual-report-2024.
In addition an additional presentation of the 2024 financial report hosted by Stock.io on Monday March 10th at 15:00. Go to: https://app.stokk.io/app/mapspeople/event/203/annual-report-2024-presentation-and-qa/ to access the event.
For additional information, please contact
MapsPeople A/S
Morten Brøgger, CEO
Mobile (+45) 31 23 48 72
Email mobr@mapspeople.com
Stigsborgvej 60, 9400 Nørresundby
Denmark
Certified Advisor
Grant Thornton
Lautrupsgade 11
2100 Copenhagen Ø
Denmark
IMPORTANT INFORMATION
This announcement is not an offer to sell or a solicitation of any offer to buy any securities issued by MapsPeople in any jurisdiction where such offer or sale would be unlawful and the announcement and the information contained herein are not for distribution or release, directly or indirectly, in or into such jurisdictions, including but not limited to, the United States, Australia, Canada or Japan.
This announcement does not constitute an offering circular, company description or other offer document and nothing herein contains an offering of securities. No one should purchase or subscribe for any securities in MapsPeople except as described in this company announcement.
Neither the existing shares of MapsPeople (the "Existing Shares") nor the New Shares have been, or will be, registered under the United States Securities Act of 1933, as amended ("Securities Act"). Neither the Existing Shares nor the New Shares may be offered or sold, directly or indirectly, in or into the United States or to persons residing there. Moreover, the Private Placement is not made to persons resident in Australia, Hong Kong, Japan, Canada, New Zealand, South Africa, Switzerland, or Singapore or to persons whose participation would require the publication up of a prospectus, registration or other measures.
Certain statements in this announcement constitute forward-looking statements. Forward-looking statements are statements (other than statements of historical fact) relating to future events and the Company's anticipated or planned financial and operational performance. The words "targets", "believes", "expects", "aims", "intends", "plans", "seeks", "will", "may", "might", "anticipates", "would", "could", "should", "continues", "estimates" or similar expressions or the negative forms thereof, identify certain of these forward-looking statements. Other forward-looking statements can be identified in the context in which the statements are made. MapsPeople has based these forward-looking statements on its current views with respect to future events and financial performance. By their nature, forward-looking statements are based on certain assumptions and projections on future events and financial performance, which involve a number of risks and uncertainties that could cause actual results or events to differ materially from those expressed or implied by the forward-looking statements. These risks, uncertainties and assumptions could adversely affect the outcome and financial consequences of the plans and events described herein. Actual results are likely to differ from those set forth in the forward-looking statements. Any forward-looking statements speak only as at the date of this document and neither the Company nor any of its respective affiliates, directors, officers, employees, advisors, or any other person is under any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. You should not and may not rely on these forward-looking statements.
Source: MapsPeople
Tag: MapsPeople-Company-Announcements
