Press release – Trading update Q3 2021

Key points

  • Q3 revenue in 2021 was up 13% on Q3 of the previous year.
    • Virtually all business units contributed to the revenue growth.
    • Global supply chain disruptions slowed down revenue development in the third quarter.
    • Recurring revenue rose 19% compared to Q3 of 2020 and now makes up 28% of revenue.
  • Revenue over the first nine months of 2021 was up 9% on the same period in 2020.
  • The impact of the scarcity of components and other raw materials is expected to become more markedly noticeable in the fourth quarter.
  • Nedap expects revenue over 2021 as a whole to exceed that of 2020.

General

Nedap saw revenue grow by 13% in the third quarter of 2021, despite the scarcity of components and other raw materials slowing down growth. With the exception of the Retail business unit, all business units contributed to the revenue growth in the third quarter, putting revenue at a higher level than in the same quarter of the previous year. Retail’s revenue was down on the third quarter of 2020, but did show growth over the first nine months of 2021 compared to 2020. Just like Light Controls and Livestock Management, Retail was affected by the supply chain disruptions, which caused some delays to the fulfilment of orders.

Download the full press release: Press release – Trading update Q3 2021 Nedap N.V