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Sweden

Headquarters, Stockholm

Formpipe Software AB
Sveavägen 168, Stockholm
Box 231 31, 104 35 Stockholm
SE – Sverige
Tel: +46 8 555 290 60
Email

Linköping

Gasverksgränd 2, 582 22 Linköping
Tel: +46 8 500 072 25
Email

Västerås

Metallverksgatan 6, 721 30 Västerås

Örebro

Engelbrektsgatan 6, 702 12 Örebro

Denmark

Lautrupvang 1
2750 Ballerup
Tel: +45 3325 6555
Email

More contant info for the Danish office?

Germany

Formpipe Lasernet GmbH
THE SQUAIRE 12
Am Flughafen
60549 Frankfurt am Main
Email

 

UK, Cambridge

2 Burlington Park
Station Road, Foxton
Cambridge – CB22 6SA
Tel: +44 1223 872747
Email

 

UK, Nottingham

Unit 1, Isaac Newton Centre 
Nottingham Science Park
Nottingham – NG7 2RH
Tel: +44 115 924 8475
Email

 

USA

Formpipe, inc.
1200 US Highway 22 E Suite 2000
Bridgewater, NJ 08807
Tel : +1 908 200 7937
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Fourth quarter and full year 2021 results

On demand webcast covering the Q4 Report presentation from the 16 February.

"Within business area Private, we show growth of 18%. We have more than doubled our ACV regarding SaaS from SEK 11 to 24 million." 

- Christian Sundin, CEO Formpipe

ACV (SEK m)
11
(9 SEK m)
ARR (SEK m)
304
(260 SEK m)

CEO Christian Sundin presents the Year end report of 2021

October 1 – December 31, 2021

Net sales of SEK

122 m

(103 m)

Recurring revenues of SEK

73 m

(67 m)

which corresponds to %
of net sales

60 %

(65 %)

EBITDA SEK

28 m

(26 m)

EBITDA margin

23 %

(25 %)

EBIT

16 m

(13 m)

EBIT margin

13 %

(12 %)

Net profit SEK

11 m

(12 m)

Net profit margin

9 %

(12 %)

EPS before dilution SEK

0.21

(0.22)

Cash flow from operating
activities SEK

52 m

(50 m)

ACV SEK

11.2 m

(8.9 m)

ARR SEK

304 m

(260 m)

January 1 – December 31, 2021

Net sales of SEK

473 m

(403 m)

Recurring revenues of SEK

278 m

(254 m)

which corresponds to %
of net sales

59 %

(63 %)

EBITDA SEK

135 m

(104 m)

EBITDA margin

29 %

(26 %)

EBIT

69 m

(53 m)

EBIT margin

14 %

(13 %)

Net profit SEK

50 m

(41 m)

Net profit margin

11 %

(10 %)

EPS before dilution SEK

0.94

(0.78)

Cash flow from operating
activities SEK

99 m

(115 m)

ACV SEK

36.9 m

(22.2 m)

ARR SEK

304 m

(260 m)

The board proposes a
dividend of SEK per share

0,70

(0,66)

Strategic Highlights

ACV & ARR

For the fourth quarter, ACV amounts to SEK 11 million (9) and for the full year ACV amounts to SEK 37 million (22), i.e. an increase of 66% compared to the previous year.

At the end of the year, ARR (Annual Recurring Revenue) totals SEK 304 million, which is an increase of 17%, largely driven by increased SaaS business, which increased by 55% to SEK 85 million.

SaaS, Microsoft & Temenos

We continue to drive a rapid transition to SaaS. Through our collaborations with Microsoft and Temenos, we see a clear growth journey for sales of our product Lasernet. We were recently named Solution Provider of the Year 2021 by Temenos and we see great potential in further strengthening our collaboration in the future.

Private Sector

Within business area Private, we show growth of 18%. We have more than doubled our ACV regarding SaaS from SEK 11 to 24 million.

Public Denmark

We see a strong development in Denmark in terms of recurring revenues and profitability. We have strengthened our position as market leader in Grants Management and we are noticing ever better market conditions in Case and Document Management, where we are seeing more and more authorities entering into procurement.

Public Sweden

In Sweden, the transition from a business model to becoming a comprehensive supplier, which we are already in Denmark, has been more challenging than we initially anticipated. We end the year with a strong fourth quarter where 47 won deals give an ACV of just over SEK 3 million. Through the acquisition of Alkemit AB at the beginning of the year, we create even better opportunities for a successful 2022.

Growth Strategies

There are good conditions for both Private and Public to grow both organically and through acquisitions. As part of a strategic review, a more active acquisition agenda has been adopted and the growth strategies for Formpipe's business in Private and Public have been more clearly differentiated.

In light of this assessment that Private and Public will grow in different ways, work is underway to investigate whether the business areas will continue to be jointly owned or whether other value-creating measures should be implemented.

The company has therefore hired an external advisor to analyze various possibilities to further accelerate these alternatives.