Vitec Software Group AB

VIT B

Equity

ISIN SE0007871363 / Valor 30840841

NASDAQ Nordic Exchange Stockholm, Equities (2024-09-16)

SEK 496.60-1.08%

Vitec Software Group AB
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About company

Vitec Software Group AB is a prominent software company specializing in vertical software solutions, with its roots and main office located in Umeå. The company focuses on developing and providing standardized software for a range of niche industries, including pharmacies, banks, car workshops, real estate, healthcare, and education. Vitec is recognized as a leading provider of vertical software, catering to specific needs within various sectors to enhance operational efficiency and productivity.

Summarized from source with an LLMView SourceSector: Technology

Revenue Growth

In the first quarter of 2024, Vitec Software Group AB reported a significant increase in net sales, totaling SEK 716 million, up from SEK 613 million in the same period the previous year. This represents a growth of 17%, driven by strong performance across various business segments.

EBITA Improvement

Vitec Software Group AB's EBITA for January–March 2024 was SEK 220 million, a 19% increase from SEK 185 million in the first quarter of the previous year. The EBITA margin also improved, rising from 30% to 31%, reflecting enhanced operational efficiency and profitability.

Strong Recurring Revenues

The company's recurring revenues continued to show robust growth, reaching SEK 616 million in the first quarter of 2024, up from SEK 509 million in the corresponding period of 2023. This 21% increase underscores the stability and reliability of Vitec Software Group AB's revenue streams.

Operating Performance

Operating profit for Vitec Software Group AB saw a notable increase in the first quarter of 2024, reaching SEK 153 million compared to SEK 123 million in the same period last year. This represents a growth of 25%, with the operating margin also improving from 20% to 21%.

Dividend and Earnings Per Share

Vitec Software Group AB reported earnings per share before dilution of SEK 2.28 for the first quarter of 2024, up from SEK 2.07 in the first quarter of 2023. This increase is indicative of the company's strong profit generation and financial health.

Summarized from source with an LLMView Source

Key figures

-7.44%1Y

1.66%3Y

282%5Y

Performance

31.0%1Y

40.1%3Y

41.0%5Y

Volatility