Prodware: Business Accelerating in 2022: €188.3 M (+13.7%)

Business Accelerating in 2022: €188.3 M (+13.7%)

• Strong revenue increase in Q4: +22.0%
• SaaS business, not including associated services (€51.9 M), continues to grow representing 27.5% of total

A booming 4th quarter

In 2022, Prodware generated revenues of €188.3 million compared to €165.5 million in 2021, a significant increase of 13.7%. Business activity accelerated throughout the year, particularly in the last quarter, due to seasonality of that period, with revenues of €64.3 million, up 22.0%, mainly due to the signing of new contracts.

Revenues from inhouse software development came to €65.9 million, up 14.0% compared with 2021, maintaining a stable contribution to overall revenues at 35%. The sales momentum of this last quarter greatly helped this business.

The Implementation and Business Solution division bounced back in 2022, following years of very slow business due to the pandemic. With the acceleration of digital transformation projects in companies, this segment reported revenues of €70.5 million in 2022, up 10.7% compared with the previous year. It accounts for 37.4% of the total.

Revenues from SaaS sales (27.5% of total activity) continued to grow (+17.8%) to €51.9 million. If one includes the Managed Services part, which is linked directly to SaaS sales, the revenue from this activity amounts to €102.6 million, or 54.5% of the total. In line with the group's strategy, this segment is seeing its share of the overall contribution increase year on year, thanks to the recurrence of long-term contracts and the excellent fit between this model and the expectations of customers, as well as the business models of the leading software vendors.

Outlook
 

With organic business growth headed in the right direction, driven by the increase in recurring revenues and the excellent performance of its high value-added offerings, Prodware remains confident that its growth curve will continue to increase in 2023.

About Prodware

With 30 years of experience and know-how in IT innovation, we strive to provide value and expertise to our customers around the world. Whether we’re implementing the most ambitious cloud strategies, developing AI-powered decision-making tools, or creating IoT applications, Prodware is always at the cutting edge of innovation. 

Since its inception, Prodware has leveraged technological progress to help businesses prepare for the future by creating new economic models for the manufacturing, sales, distribution, finance, and business service industries. 

The Prodware group includes more than 1 400 employees across 12 countries. It generated revenues of €188.3 million in 2022. Prodware SA is listed on Euronext Growth and is eligible for FCPI (innovation funds) and SME PEA (equity savings plan). 

For more information: www.prodware-group.com