Year end report, January - December 2021

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Record strong ending to the year with 22 % growth

Fourth quarter

  • Net sales MSEK 113.7 (93.1), rendering a sales growth of 22 % (14 %) 
  • Recurring revenue MSEK 68.1 (50.5)
  • The quarter was impacted by one-off items affecting comparison, amounting to MSEK -0.0 (1.4). Comparison attributable to  acquisitions (writing-down share option liability)
  • Adjusted EBITA amounted to MSEK 29.2 (29.3) which corresponds to an adjusted EBITA margin of 26 % (31 %)
  • Net income amounted to MSEK 15.2 (20.1)
  • Earnings per share SEK 1.14 (1.52) and diluted SEK 1.14 (1.52)

2021 in brief

  • Net sales MSEK 403.8 (338.7), rendering a sales growth of 19% (17%) 
  • Recurring revenue MSEK 246.0 (194.4)
  • 2021 was impacted by one-off items affecting compari-son, amounting to MSEK -1.1 (1.4). Comparison attributa-ble to acquisitions (writing-down share option liability)
  • Adjusted EBITA amounted to MSEK 108.6 (99.3) which corresponds to an adjusted EBITA margin of 27 % (29 %)
  • Net income MSEK 58.7 (62.7)
  • Earnings per share SEK 4.42 (4.72) and diluted SEK 4.42 (4.72)
  • The acquisition of 90 % of the shares in the German company, Userlike UG, who are experts in UM – Unified Messaging
  • Lime has raised a new bank loan of SEK 250 million and repaid a bank loan of SEK 50 million
  • Decided to establish Lime in Germany
  • The Board proposes the general meeting a dividend of SEK 2.60 (2.50)


CEO’s comments

We finished the final quarter of the year with a growth rate of 22 % (14 %), driven primarily by record high subscription revenue (ARR), which grew by 35 %. We closed the full year with net sales growth of 19 % (17 %), profitability of 27 % and over one hundred recruitments – a record addition to the Lime team. Accordingly, we continue to deliver long-term growth. Our strong financial position enables us both to invest further and increase dividends.

Recurring revenue drives growth
During the fourth quarter, we focused again on getting out and meeting our customers. New sales are pointing in the right direction at the same time as the business climate in all our markets is gradually improving as the markets open up. We are coming close to regaining the performance we had before the pandemic, and we welcomed Sundsvall Elnät AB, Medicotrust A/S, Stendörren Fastigheter AB and Contimeta Beheer B.V., among others, to the Lime family during the fourth quarter.

We are pleased to note that the growth in the fourth quarter was driven mainly by subscription revenue, and totalled 22 % compared with the corresponding quarter of 2020. Lime’s important key performance indicator, ARR growth, was at its strongest ever during the quarter at 35 %, compared with the corresponding quarter of 2020. Net sales growth for the full year 2021 amounted to 19 %, compared with 17 % in 2020 – a clear increase and in line with our ambition to continue to deliver long-term growth.

Strong profitability and financial position enable investment and dividends
We achieved profitability of 26 % during the quarter and 27 % for the full year 2021. As we have announced before, we prioritise growth over profitability, and in the fourth quarter we continued to invest in sales and marketing-related initiatives, focussing in particular on the rest of Europe. In contrast to the corresponding quarter of 2020, when the pandemic sharply reduced our expenses, we again have the opportunity to invest in our staff through culture-promoting conferences, face-to-face meetings and teambuilding. Our strong financial position also leaves scope for an increased dividend. Accordingly, the Board of Directors proposes a dividend of SEK 2.60 per share, equivalent to SEK 35 million.

Accelerating product development and high demand for add-ons
The demand for Lime’s services is high, and as digitisation increases, we are well positioned with a strong market offering. At a time when an enormous selection of all types of services and products is only a keystroke away, the pressure on prices is becoming ever harder and data overload is escalating, our aim is to help businesses stand out through one of the sharpest tools at their disposal: Truly excellent customer care. The plain fact is that bad customer experiences – the frustration when you contact a company for the fifth time in a single day and no one knows what has been said, done and promised – is so common that few people have experienced the true strength of the opposite.

To further strengthen our comprehensive offering and to provide even greater help to businesses in achieving world-class customer care, we are actively broadening our platform. Solutions including marketing, eSigning and Business Intelligence (BI), are increasing both customer satisfaction and our revenue. The demand for add-ons is greater than ever.

An attractive employer in a highly-competitive market – over one hundred recruitments in 2021
The competition for employees in the technology sector is particularly fierce, so we are proud to have welcomed more than a hundred new colleagues during the year – a new record for Lime! We have an effective balance over different roles and markets, even on the consulting side, where we have previously noted the challenges of staffing. In January 2022, over thirty new co-workers were onboarded, and we have begun establishing a development hub in Krakow, with the aim of accelerating our product development and generating even greater value for our customers.

A record strong ending to a stable year
When we look back over 2021, I am particularly proud that we continued to invest to create an even better company. Not least the acquisition of the German company, Userlike, which is also the starting gun for Lime’s move into the German market, has strong future prospects.

With a strong financial performance, a record ARR, an all-time high in the number of recruitments and a gradual improvement in the markets, we are leaving yet another pandemic year further behind us. We are now looking forward to a new year in which the reopening of society is accelerating and guaranteeing a more positive business climate. With demand for our services remaining high, we intend to provide even more companies with the opportunity to deliver world-class customer care. We know we have succeeded when our customers’ expectations are exceeded.

/Nils Olsson, Managing Director and CEO, Lime Technologies

Read the entire report in the attached PDF.


Invitation to webcast for the presentation of Lime Technologies’ Year-end report for January-December 2021

On Wednesday, February 16, at 09:30 CEST, analysts, investors, media, and other interested parties are invited to attend a webcast where Lime’s CEO, Nils Olsson, and CFO, Magnus Hansson, will comment on the published report and answer questions. The presentation will be held in English.

The presentation material will be available on Lime’s website.

The link to the webcast can be found here.


For more information, contact:

Lime Technologies AB (publ)

Nils Olsson, CEO / +46 736-44 48 55 /

Magnus Hansson, CFO & Head of Investors / +46 708-55 55 40 /

This information constituted inside information prior to publication. This is information that Lime Technologies AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact persons set out above, at 07.50 CET on February 16, 2022.

About Lime
Lime helps European businesses to become better at customer care. The company develops and sells digital products for” Customer Relationship Management”, development and management of customer relationships. Lime was founded in 1990 and has over 350 employees. The company has offices in Lund, Stockholm, Gothenburg, Gävle, Oslo, Copenhagen, Utrecht, Cologne and Helsinki. Their customers include everything from sole traders to large