Nedap N : 2021 annual figures – Revenue up 9%

Key points

• Revenue came in at €207.0 million, a 9% increase on 2020 (€189.9 million), despite increasing scarcity of components. All business units contributed to the revenue growth.
• Recurring revenue grew by 16%.
• Added value increased from 66% to 67% of revenue.
• The operating profit was up 35% to €23.1 million (€17.1 million in 2020). The operating margin improved to 11.1%, compared to 9.0% in 2020.
• The profit for the financial year came in at €18.3 million (€13.8 million in 2020), i.e. earnings per share of €2.82 (€2.13 in 2020).
• The dividend for the 2021 financial year has been set at €3.00.
• A further growth in revenue is expected for 2022.

Ruben Wegman, Nedap CEO: "The year 2021 went well for Nedap, despite persistently challenging circumstances resulting from the pandemic. Continual investments in our propositions and organisation helped increase revenue by 9% in 2021, despite supply chain disruptions slowing down growth. Posting a 16% increase, the performance of revenue from software subscriptions was even stronger, and put the share of recurring revenue at 28% of total revenue. All business units contributed to the revenue growth.

Over the past year, hard work has also gone into the further reinforcement of Nedap's competitive position and our organisation's strength. March 2021 saw us present the new Step Up! strategic plan and made our sustainability vision and ambition concrete. We are proud of how Nedap employees have demonstrated personal entrepreneurship and responsibility over the past year, despite the challenging circumstances both at work and at home as a result of the pandemic. The efforts of the entire Nedap team made 2021 a success.

The scarcity of components has meanwhile affected delivery times to our customers in virtually all business units. This is increasingly delaying deliveries and pushing the cost of sales up. Despite the fact that mitigating these effects continues to be our number one priority, we expect the impact of component scarcity to further increase over the next few months. Despite this uncertainty, we expect further growth in revenue in 2022."

Read the full press release here: Press release annual figures 2021 Nedap N.V