Prodware: Revenue Triples in H1 2024: €315.7 M (+191.4%)

 Press Release
Paris, July 24, 2024 - 05:45 PM

 

Revenue Triples in H1 2024: €315.7 M (+191.4%)

Major Impact from Strategic Acquisitions Strong Increase in Organic Growth (+23,4%)

 

 

Revenue (unaudited)

IFRS standards (in M€)

2024

2023

Change in Reported Data

 

Change on a like-for-like basis

 

TOTAL H1

315.7

108.3

+191.4%

+23.4 %

 

 

Enhanced Growth Momentum in the First Half of 2024

 

As of June 30, 2024, Prodware achieved revenue of €315.7 million, up from €108.3 million during the same period last year, marking a remarkable 191.4% increase in reported figures. This substantial growth was largely driven by the integration of Protinus (€191.7 million) and the complete six-month contribution from WESTPOLE (€9.7 million).

After accounting for perimeter effects, organic growth stands at 23.4%, highlighting strong performance despite a tentative market environment at the start of the year.

 

The Business Application business and the Managed and Staffing Sourcing business now constitute 31% and 69% of total revenue, respectively.

 

The robustness of the group's model is enhanced by a well-balanced revenue mix between mid-sized and large enterprises—its traditional market—and key clients in the public sector.

 

Geographically, international sales have experienced remarkable growth, with international revenue reaching €284.3 million, now representing 90% of total revenue. This is a significant increase from 61% during the same period in 2022, showing a 29-point increase This expansion is attributed to strong organic growth and the successful integration of recent acquisitions.

 

 

Positive Outlook

 

The group is set to fast-track its 2024-2026 strategy to become a premier player in digital transformation across both private and public sectors. Building on its enhanced market positioning through organic growth and the effective integration of strategic acquisitions, Prodware anticipates achieving approximately €750 million in revenue for 2024. Leveraging the advantages of economies of scale and with a focused approach to maintaining margins, the group also projects a gradual enhancement in its operational performance metrics in the coming years.

 

Next Publication: First-half 2024 results: October 15, 2024, after market close.

 

 

About Prodware

With 30 years of experience and know-how in IT innovation, we strive to provide value and expertise to our customers around the world. Whether we’re implementing the most ambitious cloud strategies, developing AI-powered decision-making tools, or creating IoT applications, Prodware is always at the cutting edge of innovation. 

Since its inception, Prodware has leveraged technological progress to help businesses prepare for the future by creating new economic models for the manufacturing, sales, distribution, finance, and business service industries. 

The Prodware group includes more than 1 900 employees across 14 countries. It generated revenues of €380.6 million in 2023. Prodware SA is listed on Euronext Growth and is eligible for FCPI (innovation funds) and SME PEA (equity savings plan). 

For more information: www.prodware-group.com

  

 

Stéphane Conrard
Deputy CEO
T : 0979 999 000
investisseurs@prodware.fr

PRESS

Gilles Broquelet
CapValue
T : 01 80 81 50 00
gbroquelet@capvalue.fr

EURONEXT GROWTH

ISIN FR0010313486 - ALPRO - FTSE 972 IT Services
Prodware qualifies for FCPI and is committed to responsible business practices. Prodware is member of the Global Compact.