PERIOD OCTOBER 1 – DECEMBER 31, 2020

• Net sales of SEK 103.4 m (SEK 103.1 m)
• Software revenues of SEK 76.1 m (SEK 69.2 m)
• Recurring revenues of SEK 67.2 m (SEK 59.0 m), 
  which corresponds to 65 % (57 %) of net sales.
• EBITDA SEK 25.9 m; 25.1 % (SEK 28.4 m; 27.5 %)
• EBITDA-adj. SEK 14.1 m; 13.6 % (SEK 19.9 m; 19.4 %)
• EBIT SEK 12.7 m; 12.3 % (SEK 15.3 m; 14.9 %)
• Net profit SEK 12.0 m; 11.6 % (SEK 12.0 m; 11.7 %)
• EPS before dilution SEK 0.22 (SEK 0.23)
• Cash flow from operating activities SEK 49.6 m (SEK 48.1 m)

PERIOD JANUARY 1 – DECEMBER 31, 2020

• Net sales of SEK 403,1 m (SEK 393.8 m)
• Software revenues of SEK 286.1 m (SEK 261.1 m)
• Recurring revenues of SEK 253.5 m (SEK 229.7 m), 
  which corresponds to 63 % (58 %) of net sales.
• EBITDA SEK 104.3 m; 25.9 % (SEK 100.7 m; 25.6 %)
• EBITDA-adj. SEK 64.1 m; 15.9 % (SEK 64.4 m; 16.4 %)
• EBIT SEK 53.3 m; 13.2 % (SEK 47.5 m; 12.1 %)
• Net profit SEK 41.4 m; 10.3 % (SEK 35.0 m; 8.9 %)
• EPS before dilution SEK 0.78 (SEK 0.66)
• Cash flow from operating activities SEK 115.0 m (SEK 63.7 m)
• The board proposes a dividend of SEK 0,66 per share (SEK 0,60)

For the full report, see attached PDF.   

For additional information, contact:

Christian Sundin, President and CEO of Formpipe, +46 705 67 73 85

_____________________________________________________________

This is a translation of the original Swedish version. In the event of any discrepancies between the two versions, the original Swedish version shall take precedence.

This information is inside information that Formpipe Software AB (publ) is obliged make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication through the agency of the contact person set out above, at 08.45 February 16, 2021.

Formpipe builds valuable relationships between data and people. Driven by our core values, since 2004 we have developed premium software that provides you with the right information, in the right context, at the right time. Every time. We help over 5,500 clients worldwide to digitize and automate business processes.

Together with our customers and partners, we co-create a digital society where people thrive. We have offices in Sweden, Denmark, United Kingdom, USA and Germany. Formpipe Software is a publicly listed company on Nasdaq Stockholm.

The software company Formpipe presents a new growth strategy and new financial targets when the company today publishes its fourth quarter and full year 2020 results. The new strategy captures opportunities to deliver on a number of markets with the self-developed and successful product Lasernet.

”Formpipe has a stable and profitable business for the public sector, a strong organization and high-quality products that meet an increasing demand as digitalization progresses. With an average annual sales growth exceeding 12 percent since 2016, Lasernet is an important part of Formpipe's continued growth journey. As per the acquisition of EFS in July 2020, our opportunity to scale sales of Lasernet increased, and we see significant potential in accelerating our growth the upcoming years.” Says Christian Sundin, President and CEO of Formpipe.

Key points in growth strategy 2021-2025

• Formpipe develops and sells software and cloud services in digital information services through a strong network of certified partners and by our own organization
• The business model is based on increasing the recurring revenue by selling our products as SaaS to the greatest possible extent
• Strategic acquisitions complement organic growth
• Investments in sales and delivery capacity to support partners and meet demand for Lasernet
• Focus on accelerated growth in the US and Europe
  
  

While entering a strategic growth journey, the company sets new financial targets:

• The average annual revenue growth will amount to 10 percent 2021 – 2025
• 70 percent of total revenue will consist of recurring revenue by 2025
• The operating margin will gradually be strengthened and exceed 20 percent in 2025
• Over time, at least 50 percent of the year's net income will be distributed as dividends to our shareholders
  
  

Investments in growth will primarily take place through capacity building with focus on the USA and Europe. The build-up phase provides a not insignificant short-term negative margin impact before we reach the goals above.

”This is an aggressive venture that gives us the opportunity to make use of the momentum in the market, to develop Formpipe long-term. During the pandemic, we see an increased opportunity to recruit necessary and coveted expertise. We therefore take on some initial investments that will give a short-term negative margin impact but that will deliver good yield long-term.” Christian Sundin finalizes.

Presentation for investors, analysts and media:

Formpipe’s president and CEO Christian Sundin, will present the fourth quarter and full year 2020 results alongside the new growth strategy and financial targets at a webcast, today the 16th of February at 01.00 PM.

How to participate in the webcast

Link to register for the event: https://www.lyyti.in/LIVE_Q_Formpipe_Software__Feb_16th_0854 

Live broadcast of the event will be available through this link: https://www.redeye.se/events/803053/803053

Report and presentation will be made available for download at: Financial reports (formpipe.com)

For additional information, contact:

Christian Sundin, President and CEO of Formpipe, +46 705 67 73 85

_____________________________________________________________

This is a translation of the original Swedish version. In the event of any discrepancies between the two versions, the original Swedish version shall take precedence.

This information is inside information that Formpipe Software AB (publ) is obliged make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication through the agency of the contact person set out above, at 08.45 February 16, 2021.

Formpipe builds valuable relationships between data and people. Driven by our core values, since 2004 we have developed premium software that provides you with the right information, in the right context, at the right time. Every time.

We help over 5,500 clients worldwide to digitize and automate business processes. Together with our customers and partners, we co-create a digital society where people thrive. We have offices in Sweden, Denmark, United Kingdom, USA and Germany. Formpipe Software is a publicly listed company on Nasdaq Stockholm.

Formpipe’s fourth quarter and full year 2020 results will be published on
Tuesday, February 16, 2021, at 08:45 CET.

The same day at 01.00-02.00 PM CET; analysts, investors, media and
other interested parties are invited to attend a webcast where Formpipe’s
CEO, Christian Sundin, will comment on the published report and answer
questions.

The presentation and question & answers will be given in English.

How to participate in the webcast

Link to register for the event:
https://www.lyyti.in/LIVE_Q_Formpipe_Software__Feb_16th_0854

Live broadcast of the event will be available through this link:
https://www.redeye.se/events/803053/803053

For additional information, contact:

Christian Sundin, President and CEO of Formpipe, +46 705 67 73 85