Revenue was up 8% in the first half-year of 2021, rising to €100.7 million (€93.5 million in the same period of 2020), despite increasing component scarcity. Virtually all business units contributed to the overall revenue growth.
Recurring revenue rose 15% and now makes up 27% of revenue.
On the back of a combination of higher revenue and temporarily lower costs, operating profit increased to €12.3 million, a 61% rise on the €7.7 million posted in the first half-year of 2020. The operating margin improved to 12.2%, compared to 8.2% in the same period of 2020.
Net profit came in at €9.8 million in the first half-year of 2021, compared to €6.2 million in the first half-year of 2020.
Ruben Wegman, CEO of Nedap: 'Despite challenging market conditions over the past year, we have continued to invest in our propositions and organisation, in line with our 'Step Up!' strategic plan. This has bolstered our competitive strength and reinforced our market positions, leading to robust results over the first half year of 2021. What we are seeing, though, is increasing scarcity of components worldwide. At a number of our business units, these shortages led to delays in deliveries in the first half-year of 2021 and pushed up our cost of sales. While mitigating these effects continues to be our highest priority, we expect the impact of component scarcity to further increase over the second half of this year. We expect, despite these circumstances, revenue for the whole of 2021 to be up on 2020.'
Download the complete press release here: Press release - Half-year results 2021 Nedap N.V.
NEDAP NV published this content on 22 July 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 22 July 2021 16:07:12 UTC.