Lyon, October 19, 2022 – 6 p.m. Visiativ, the specialist in digital transformation and innovation for SMEs and ETIs, is listed on Euronext Growth in Paris (FR0004029478, ALVIV).
At the end of the first nine months of its 2022 financial year (period from 1
er
January to September 30, 2022), Visiativ recorded consolidated revenue of €158.0 million, a solid increase of +18% compared to last year. Organic growth was +9%.
The SOFTWARE activity, which includes all software sales, recorded nine-month revenue of €94.5 million, up +17% (+9% on an organic basis)
[1]
). The CONSULTING activity, which brings together all the services provided, totaled revenue of €63.4 million, up dynamically by +20% (+9% organically).
Recurring activities (multi-year contracts, software maintenance and software subscriptions) increased by +20% over nine months (+12% at constant scope and exchange rates
[1]
), and represent 64% of sales at the end of September.
In the wake of 1
er
semester, the growth momentum remained particularly strong internationally, with revenue outside France increasing by +53% over the period, of which +26% organically. International, which benefits from higher profitability, now represents 36% of business compared to 27% a year earlier.
Visiativ confirms its objective of €30 million in EBITDA by 2023.
In €m – Unaudited data as of 09/30 |
9 months 2021 |
9 months 2022 | Variation | Organic variation [1] |
|---|---|---|---|---|
SOFTWARE | 81.0 | 94.5 | +17% | +9% |
|
of which SaaS subscriptions |
10.3 |
14.2 |
+38% |
+24% |
CONSULTING | 52.7 | 63.4 | +20% | +9% |
|
TOTAL TURNOVER |
133.8 |
158.0 |
+18% |
+9% |
|
of which international turnover |
36.7 |
56.3 |
+53% |
+26% |
|
In % |
27% |
36% | ||
|
of which recurring revenue |
84.3 |
101.4 |
+20% |
+12% |
|
In % |
63% |
64% |
The activity
SOFTWARE
recorded revenue of €27.7 million, up +8% in 3
th
quarter 2022 (-2% on an organic basis), in line with the 2
th
trimester. This change is insignificant, the start of the year having been marked by extremely dynamic activity (+30% organic growth in the 1
er
quarter), with significant anticipated orders, particularly in industry.
SaaS subscriptions (
Software as a Service
) increased by +38% over nine months (+24% in organic terms) and represent 15% of SOFTWARE sales. At the end of September 2022, the ARR (
Annual Recurring Revenue
– Recurring Annual Revenue) now stands at €22.1 million, up +53% (+28% organically) compared to that calculated at September 30, 2021.
The activity
CONSULTING
continued to show sustained activity in 3
th
quarter of 2022 (+23% of which +8% organically) across all businesses. The momentum is driven by growth in the Americas zone (+94%), a geography which now represents a third of CONSULTING activity compared to just over 20% in 3
th
quarter of 2021. The appeal of cybersecurity and digital transformation offers is not weakening with 16 diagnoses signed over the past quarter, after 32 signatures in the 1
er
semester 2022.
Recurring revenue (multi-year contracts, software maintenance and software subscriptions) exceeded the €100 million mark at the end of September 2022, to stand at €101.4 million, up +20% (+12% organically) ) over nine months. Recurring activity represents 64% of Visiativ’s total billings (compared to 63% at the end of September 2021).
In the wake of previous quarters, international sales remained particularly dynamic in the 3
th
quarter of 2022 (+52% of which +15% at constant scope and exchange rates). At the end of September, they now represented 36% of Visiativ’s activity (compared to 27% a year earlier).
OUTLOOK
After a good 1
er
semester, marked by +20% growth in revenue and +32% growth in EBITDA, Visiativ continues to deliver sustained activity, particularly internationally. The latest companies acquired, MB CAD in Germany and Braithwaite in Canada and Ireland and Absiskey in France, will fully contribute to the continuation of this positive and accretive dynamic for the margin.
At the same time, the share of recurring business continues to increase quarter after quarter, with now an ARR of more than €22 million (compared to €19 million at the end of June), which benefits from the entry into the scope of consolidation of the Daxium business mobile application publisher at 3
th
quarter (€2.1 million additional ARR).
Building on this solid momentum, Visiativ is reiterating the objectives of the CATALYST strategic plan, with the achievement of an EBITDA of €30 million in 2023.
2022 FINANCIAL AGENDA
|
EVENTS |
DATES |
2022 annual turnover |
Wednesday, January 25, 2023 |
2022 annual results |
Tuesday, March 21, 2023 |
These dates are given as an indication, they are likely to be modified if necessary. The publications will take place after the closing of the Euronext Paris market.
About Visiativ
Visiativ’s vocation is to make digital transformation a performance lever for companies. We do this by co-constructing alongside our clients, over the long term. This is summed up by our promise: “Sharing is growing”.
We support our clients by providing solutions and services to plan, implement, manage and monitor their transformations with a unique and innovative approach through three pillars: Consult (advice & support), Engage (solutions & deployment) and Connect ( exchange and sharing communities). Thanks to proven experience of more than 35 years with more than 21,000 SME and ETI customers, Visiativ generated revenue of €214 million in 2021. Present in France and internationally (Germany, Belgium, Brazil, Canada, UAE, United States, Ireland, Luxembourg, Morocco, Netherlands, Poland, United Kingdom and Switzerland) Visiativ has more than 1,100 employees.
Visiativ (FR0004029478, ALVIV) is listed on Euronext Growth in Paris. The action is eligible for the PEA and PEA-PME.
Find all the information on www.visiativ.com
VISIATIV CONTACT | INVESTOR CONTACT | PRESS CONTACT |
APPENDICES
Consolidated turnover of 3
th
trimester
In €m – Unaudited data as of 09/30 |
Q3 2021 (3 months) |
Q3 2022 (3 months) | Variation | Organic change [1] |
|---|---|---|---|---|
SOFTWARE | 25.7 | 27.7 | +8% | -2% |
|
of which SaaS subscriptions |
3.6 |
5.5 |
+53% |
+33% |
CONSULTING | 16.3 | 20.1 | +23% | +8% |
|
TOTAL TURNOVER |
42.1 |
47.9 |
+14% |
+2% |
|
of which international turnover |
12.6 |
19.1 |
+52% |
+15% |
|
In % |
30% |
40% | ||
|
of which recurring revenue |
26.6 |
28.6 |
+8% |
+3% |
|
In % |
63% |
60% |
[1]
like-for-like growth, restated for the impact of the consolidation of the Daxium companies (consolidated on 1
er
July 2022), Braithwaite (consolidated as of 1
er
July 2022), MB CAD (consolidated as of 1
er
April 2022), the Brazilian subsidiary of ABGI (consolidated since 1
er
January 2022), Ma-Sauvegarde and IFTC (consolidated as of 1
er
July 2021), AJ Solutions (consolidated as of 1
er
April 2021), and constant exchange rates.
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