Addnode Group’s Annual Report 2024 published
Addnode Group has today published the Annual Report 2024. The report shows how Addnode Group accelerates sustainable value growth by continuously acquiring new businesses and actively support its subsidiaries to drive organic growth.
Net sales for 2024 increased by 5 percent to SEK 7,757 m. During the year, the company's partner Autodesk changed its transaction model from a reseller model to an agent model. Acquired growth would have been 10 percent and organic currency-adjusted growth would have been 9 percent with the previous Autodesk reseller model and before reclassifications of third-party agreement.
As a result of organic growth, improved efficiency and complementary acquisitions, EBITA increased by 35 percent to SEK 863 m. At the same time, the EBITA margin improved to 11.1 percent (8.6) and earnings per share increased by 44 percent to 3.02 SEK.
“Despite a challenging environment, both geopolitically and market-wise, all divisions delivered their best results ever. By investing in product development, launching new digital solutions, attracting new customers and carrying out acquisitions, Addnode Group remained an entrepreneur-driven and forward-leaning corporate group,” Johan Andersson, Addnode Group’s President and CEO, writes in the report.
Some highlights from 2024:
- Seven acquisitions with a combined net sales of approximately SEK 155 m have been completed during the year: Efficture (Sweden), Jetas Quality Systems (Sweden), Optimec (Canada), GPS Timber (Sweden), Addoceo (Sweden), Prime Aerostructures (Austria) and CTC Software (USA).
- The sister companies Sokigo and S-GROUP Solutions merged in order to clarify our offering in digital solutions for sustainable community development. The merged company now operates under the name Sokigo and has around 250 employees.
- The offering to the forestry sector in the subsidiary Sokigo was transformed into a separate company under the name Icebound. The new company consists of around 30 employees.
- Symetri's partner Autodesk implemented a new transaction model that decreases net sales and purchases of goods and services, and is replaced by a commission income that corresponds to the gross margin. Gross profit and EBITA are unchanged while margins increase. Symetri continues to be the one who, together with the customer, identifies and implements the best solution.
- A new brand identity was launched. The new visual expression of the identity and its associated new purpose, “Digitalization for a Better Society”, provide a strong platform for the further growth and globalization of Addnode Group.
The report is attached with this press release and is also available at https://www.addnodegroup.com/investors/reports-and-presentations/, where the Swedish version of the report also is available in European Single Electronic Format (ESEF).