20% revenue rise, operating margin grows to 12%
- Revenue in the first half of 2023 amounted to €134.4 million, up 20% on the first half of 2022 (€111.8 million). Practically all business units contributed to the revenue growth.
- Recurring revenue rose 21% and makes up 30% of the total revenue (30% in the first half of 2022).
- The operating profit grew to €16.1 million (€13.2 million in the first half of 2022). The operating margin came in at 12.0% (11.8% in the first half of 2022).
- Nedap continues to invest in growth, in line with its long-term strategy.
- Nedap expects further revenue growth in the second half of 2023, driven in part by catch-up deliveries. As the second half of 2023 progresses, however, this catch-up effect will start to diminish.
Ruben Wegman, Nedap CEO: ‘Over the first six months of the year, Nedap managed to generate robust revenue growth. This was partly driven by improvements across the supply chain that allowed us to deliver orders that had previously been postponed and delayed. In addition to that, we were able to further strengthen our positions in our four key markets Healthcare, Livestock Management, Retail and Security Management. In order to continue to make the most of the potential in these attractive markets, we will continue to invest in product development and commercial strength. It remains challenging to properly and reliably match increasing capacity in the supply chain with the pace of project execution in our sales channel. This resulted in higher inventories in the first half of 2023. Despite volatile economic developments, we are confident about what the future holds and foresee revenue growth in the second half of 2023 compared to the second half of 2022, whereby the catch-up effect will decline.’
Download the full press release here: 2023 Half-year figures Nedap N.V.