Financial Information

Financial Information

2021 Q1 Update

YEAR TO DATE, JANUARY – MARCH 2021

  • Q1 software revenue was SEK 1.2 billion, an increase of 13 percent Year on Year.
  • Q1 recurring revenue was SEK 1.0 billion, an increase of 24 percent Year on Year and representing more than 80 percent of software revenue.
  • Q1 cloud revenue increased 102 percent Year on Year representing more than 40 percent of software revenue (cloud revenue defined as all revenue streams associated with a cloud deployment deal).
  • Proportion of license revenues from new customers up to 57 percent.

Financial year 2021 press release

Message from the CEO

The launch of IFS Cloud in Q1 was the most important launch in company history. It was a milestone that delivers on our promise of helping customers create truly amazing moments of service. The impressive performance and growth of our cloud and service management business is evidence that customers value that we understand their needs and are delivering products that support their journey. In addition to our organic growth, we are strengthening our proposition with the addition of Axios Systems to ensure we remain the de facto leader for companies that want to differentiate in how they deliver and profit from service.

Darren Roos
Chief Executive Officer
IFS

2020 Q4 Update

YEAR TO DATE, JANUARY – DECEMBER 2020

  • FY2020 software revenue was MSEK 5,092, an increase of 26 percent versus 2019
  • FY2020 recurring revenue was MSEK 4,081, an increase of 43 percent versus 2019
  • FY2020 cloud revenue increased 60 percent versus 2019
  • FY2020 net revenue was MSEK 7,211, an increase of 14 percent versus 2019
  • In addition, service business license revenue grew 105 percent versus 2019 while aerospace and defense license revenue grew 37 percent.

Financial year 2020 press release

Message from the CEO

I think that every CEO will have been affected one way or another by 2020. Like many, we had to adapt as individuals and as a business, but the passion this team has for our customers continued to shine. I am hugely proud of that. I am also really proud to see that a significant part our license revenue has come from new logos, customers who have moved away from their legacy vendor; this combined with our performance in recurring revenue points the performance of a very strong business. 2021 will be a hugely important year for IFS as we launch IFS Cloud on March 10th.

 

Darren Roos
Chief Executive Officer
IFS

2020 Q3 Update

Year to date, January - September 2020

  • Net revenue was 5,111 million SEK (US $544 million), an increase of 12 percent versus Q3 YTD 2019
  • Service management license revenue grew 86 percent versus Q3 YTD 2019
  • Recurring revenue increased 41 percent versus Q3 YTD 2019
  • Cloud revenue increased 59 percent versus Q3 YTD 2019

Q3 2020 Press Release

Message from the CEO

Whether a company manufactures medical equipment, operates large energy utilities or manages a complex infrastructure, in the eyes of their customer, success or failure is realized at the moment of service—the moment when it all comes together. Organizations are transforming their businesses around this, and IFS is uniquely positioned to capitalize on this groundswell of opportunity. Our customer base continues to expand as we help more businesses grow, create value and improve delivery quality. IFS is the only vendor that can provide an integrated solution set across the customer’s entire operation.

Darren Roos
CEO

2020 H1 Update

First half, January–June 2020

  • Software revenue was SKr 2,382 million, an increase of 26 percent
  • Cloud revenue showed an increase of 56 percent
  • Consulting revenue amounted to SKr 1,071 million, an increase of 0 percent (-1 percent in constant currency)
  • Net revenue totaled SKr 3,482 million, an improvement of 16 percent (15 percent in constant currency)
  • Adjusted EBITDA totaled SKr 881 million, an improvement of 33 percent (32 percent in constant currency)

H1 2020 Press Release

Message from the CEO

Our focus remains on delivering value to our customers and never before has this mission been more critical to their survival. Our close collaboration with our partners has ensured we remain relevant, which is reflected in our results. Consulting is a function of our partners hitting scale, and taking over the projects. This demonstrates our growth is where we want it to be. Our recent announcement about EQT and TA Associates’ ownership is a real endorsement of our strategy and our enormous potential to continue to capture market share.

Darren Roos
CEO

2020 Q1 Update

First Quarter, January–March 2020

  • License revenue amounted to SKr 409 million (Q1 '19: SKr 295 million), an increase of 39 percent (36 percent in constant currency).
  • Maintenance revenue was SKr 558 million (Q1 '19: SKr 448 million), an improvement of 25 percent (22 percent in constant currency).
  • Consulting revenue amounted to SKr 583 million (Q1 '19: SKr 512 million), an increase of 14 percent (11 percent in constant currency).
  • Net revenue totaled SKr 1,765 million (Q1 '19: SKr 1,410 million), an improvement of 25 percent (22 percent in constant currency).
  • Adjusted EBITDA was SKr 318 million (Q1 '19: SKr 259 million), an improvement of 23 percent (18 percent in constant currency).

Message from the CEO

Despite the economic headwinds presented by the Covid-19 pandemic, license revenue grew 39% compared to Q1 2019. Recurring revenues were also steady as customers depend on their IFS solutions to run their most mission critical business processes. On the back of this strong revenue development in Q1, EBITDA remains stable and is underpinned by ongoing initiatives to improve the IFS cost base. These initiatives support the short-term EBITDA performance while enabling our business to quickly rebound once the global lockdowns are eased. By taking prudent cost-control measures, we are building further resilience into the business, which we believe could see downward pressure through the next two quarters. Our ongoing focus remains fixed on taking precautions not only to protect our staff and community, but to ensure our customers continue to receive the stellar product, service and support they deserve.

Darren Roos
Chief Executive Officer
IFS

Investor Contacts

Chiara Lattuada

Phone: +44 7463 350454

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