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Year-End Report January 1st – December 31st, 2013

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Strong year-end

Fourth quarter 2013

  • Net sales amounted to SEK 433,5 M (394,4), a growth of 10 percent.
  • Adjusted EBITA amounted to SEK 57,6 M (53,3), an EBITA-margin of 13,3 (13,5) percent.1)
  • Adjusted operating profit amounted to SEK 49,8 M (47,8), an EBITA-margin of 11,5 (12,1) percent.1)
  • Profit after tax amounted to SEK 34,0 M (33,3).
  • Earning per share after tax amounted to SEK 1,15 (1,17).
  • Cash flow from operating activities amounted to SEK 54,4 M (68,2).

January – December 2013

  • Net sales amounted to SEK 1 443,5 M (1 364,7), a growth of 6 percent.
  • Adjusted EBITA amounted to SEK 120,1 M (139,6) an EBITA-margin of 8,3 (10,2) percent.2)
  • Adjusted operating profit amounted to SEK 95,3 M (119,6 an EBITA-margin of 6,6 (8,8) percent.2)
  • Profit after tax amounted to SEK 62,9 M (86,8).
  • Earning per share after tax amounted to SEK 2,19 (3,06).
  • Cash flow from operating activities amounted to SEK 118,8 M (117,1).

1)      Excluding one-time costs of SEK -3,7 (0,0) M for organizational changes. 
2)      Excluding one-time costs of SEK -9,2 (0,0) M for organizational changes and revaluation of contingent consideration with SEK -0,2 M (-1,9).


Significant events during the fourth quarter of 2013

  • Acquisition of operations from Cad-Expert Oy.

Significant events after the end of the period

  • The Board of Directors proposes an unchanged dividend of SEK 2,25 (2.25) per share.
  • Adjustment of growth target. Annual net sales growth will amount to at least 10 percent.
  • Acquisition of the product Alarmos with annual revenue of about SEK 10 M.
  • Johan Andersson appointed new CFO for Addnode Group.

CEO’s comments

Strong Year-end

In the CEO’s comments for the third quarter, I wrote that the Addnode Group could do better, which we have now shown. The market and our customers acted somewhat cautiously for most of 2013. This had an impact on us, particularly during the second and third quarters. In the fourth quarter, things improved slightly and we delivered a strong quarter due to a better market and excellent performance in our units. In addition, the acquisitions we implemented performed positively.

Year-on-year growth in the fourth quarter was 10 percent and the adjusted EBITA margin amounted to 13.3 percent (13.5).

Increase in recurring revenue
The Addnode Group’s strategy to increase the proportion of recurring revenue and delivering more of our proprietary products, SaaS solutions and packaged services, to our customers continued to generate results. Compared with 2012, recurring revenue from support and maintenance (including SaaS) increased SEK 107 M to SEK 634 M in 2013. The acquisition of Joint Collaboration in the third quarter, with SaaS rental solutions for projects and collaboration, is another example of how we are implementing this strategy. 

Good start to 2014
The Addnode Group has strong positions in several niched areas with growth potential. We are the leading supplier of IT solutions for design, project management and product lifecycle management in the Nordic region. We have strong offerings for the public sector in municipal administration, case management, e-archives and we have overall industrial offerings in digital communication and customer-service solutions.

The healthy fourth quarter also gave us a boost as we enter 2014. Many of the transactions sold at the end of the year are projects that will be delivered during the first and second quarters of 2014.

We have demonstrated that the Addnode Group is capable of growing with profitability and we look forward to 2014.  With a strong balance sheet and healthy cash flows, we have significant latitude to develop our offerings, both organically and through acquisitions.

Staffan Hanstorp, CEO and President

The information in this interim report is such that Addnode Group must disclose in accordance with the Swedish Securities and Clearing Operations Act and/or the Financial Instruments Trading Act. The information was released on February 5, 2014 at 08:30.

Staffan Hanstorp, CEO and President                                              
Phone: +46 733 772 430
E-mail: staffan.hanstorp@addnodegroup.com

Johan Andersson, CFO
Phone: +46 704 205 831
E-mail: johan.andersson@addnodegroup.com

Om Addnode Group 
Addnode Group offers operation-critical IT solutions. We are market leader in the Nordic region in IT solutions for design, construction, planning and product lifecycle management for products and installations. Addnode Group commands a strong market position in Sweden in the public sector, with an offering comprising case management systems, e-services, administrative systems and web solutions.

We are 950 employees in Sweden, Norway, Finland, Denmark, Serbia, India and the US. The Group is organized in four business areas under several brands. With over 3,000 customers using its solutions in more than 60 countries in the public and private sectors, Addnode Group is continuing to build an extensive portfolio of operation-critical IT solutions.

Net sales in 2013 amounted to SEK 1,444 M. Addnode's Series B share is listed on the OMX Nordic List, Small Cap. For more information about Addnode Group, visit www.addnodegroup.com.

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Interim report Norway SaaS offshore Addnode BIM PDM ida infront Cad-Q Design Management Mogul Process Management autodesk Addnode Group iipax Abou e-archive off-shore Joint Collaboration tekis alarmos fire and rescue department

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