Addnode Group has today published its Annual Report 2023. The report shows how Addnode Group accelerates sustainable value growth by continuously acquiring new businesses and actively support its subsidiaries to drive organic growth. In 2023 Addnode Group acquired three companies, US became one of the Group’s largest markets, and organic growth reached 3 per cent. In total, net sales grew 19 per cent and amounted to SEK 7,412 m in 2023.
The Annual Report outlines, among other things, Addnode Group’s strategy and goals, including business model, and how the Group’s digital solutions contribute to sustainable development.
Some highlights from 2023:
- Acquisition of the Swedish company FAST2 Affärssystem AB, now part of SWG in the Design Management division.
- Acquisition of Key Performance, now part of Technia in the Product Lifecycle Management division.
- Acquisition of Team D3 in the USA, now part of Symetri in the Design Management division.
- Credit line increased by SEK 1,000 m to a total of SEK 2,600 m.
- The dividend policy was adjusted to 30–50 percent of the Group’s profit after tax, providing its net cash position is sufficient to operate and develop its business.
- Nasdaq Stockholm announced the outcome of its yearly segment review, which resulted in Addnode Group’s share moving up to the Large Cap segment.
- Elisabeth Forslin took up the position of Head of M&A and became a member of Group Management.
- Kristina Elfström Mackintosh took up the position of CFO and became a member of Group Management.
- Autodesk announced that it will transition from a reseller model to an agent model. This change means that net sales will decrease, while gross profit is expected to remain unchanged and the EBITA margin will increase. The change will take place gradually and is expected to be fully implemented by the end of 2025.
“A clear strategy, the strength of our companies, our investments in competence and products, our implemented efficiency improvements, our healthy financial position and our acquisition capacity provide a solid foundation for continuing our growth journey and delivering higher profit and value to our shareholders,” Johan Andersson, Addnode Group’s President and CEO, writes in the report.
The report is attached with this press release and is also available at https://www.addnodegroup.com/investors/reports-and-presentations/, where the Swedish version of the report also is available in European Single Electronic Format (ESEF).
