Trading update Q1 2022

Key points 

• Revenue for Q1 of 2022 up 12% on Q1 of 2021
• Recurring revenue growth of 23%
• Strong demand for propositions
• Continuing supply chain disruptions

2022 first quarter revenue
The first quarter of 2022 saw revenue grow 12% compared to the first quarter of 2021. Nedap propositions were in continued high demand at all business units. Revenue development remains unpredictable due to the continued scarcity of components.

The revenue development in the first quarter of 2022 demonstrates the robustness of Nedap’s proposition portfolio. The Healthcare business unit was not affected by the component shortages and was able to maintain its growth pace. The Livestock Management, Retail, Security Management and Staffing Solutions business units also posted revenue growth. Revenue achieved by the Identification Systems and Light Controls business units was down on the same period of 2021, largely as a result of the scarcity of components. Recurring revenue in the first quarter was up 23% on the same period last year.

Supply chain and geopolitical uncertainty
Nedap expects the global shortage of electronics components and raw materials to continue. Efforts to mitigate the impact of this will continue to be top priority. Geopolitical developments may cause supply chain disruptions to further increase. Commercial activities in Russia and Belarus have been discontinued, but the associated impact is small.

Outlook
Supply chain disruptions will continue throughout the rest of the year, meaning deliveries to customers will take increasing amounts of effort or will be delayed. Our full attention will also continue to be devoted to attracting and retaining talented employees in the current tight job market. Based on the robust portfolio and high demand for propositions, Nedap stands by its expectations for 2022 of further revenue growth compared to 2021.

For your information
The annual general meeting will be held on 12 April 2022 in Amsterdam.

Starting from the publication of the 2022 half-yearly figures on 21 July 2022, Nedap will publish its regular financial communications before the opening of trading rather after the close.

Key dates relating to the dividend
14 April 2022 – Ex-dividend date
19 April 2022 – Record date
25 April 2022 – Dividend payable date

Read the full press release here: Press release Trading update Q1 2022