Trading update Q1 2023

Key points
• Revenue growth of 22% in the first quarter of 2023 compared with the first quarter of 2022
• Recurring revenue up 20% on the same period last year
• Outstanding orders are being cleared due to increased capacity in the supply chain

The first quarter of 2023 saw revenue grow 22% compared to the same quarter of 2022. Practically all business units contributed to this growth, partly driven by the effect of catching up on product deliveries.

Together with partners, Nedap was able to increase its production capacity for a number of business units, despite the still relatively lengthy delivery times in the supply chain. This increased deliveries of various products to customers and cleared part of the delivery backlog. Almost half of the product-related revenue growth was the result of catching up. The Light Controls, Livestock Management, Retail and Security Management business units all benefited from this. The Healthcare business unit maintained its growth in revenue, while the Identification Systems business unit posted revenue growth after delivering several major projects. Only the Staffing Solutions business unit posted a slightly lower revenue.

Recurring revenue in the first quarter was up 20% on the same period last year, driven by growth at Healthcare and Retail.

Outlook
Despite the continuing volatility on the markets, Nedap foresees revenue growth in 2023 in line with the financial targets defined in the Step Up! strategy, unexpected circumstances notwithstanding.

For your information
The annual general meeting will be held on Thursday 13 April 2023 at 11:00 CET at the premises of Nedap N.V. at Parallelweg 2 in Groenlo, the Netherlands.

Key dates relating to the dividend
17 April 2023 – Ex-dividend date
18 April 2023 – Record date
24 April 2023 – Dividend payable date

Read the full press release here: Press release Trading update Q1 2023