FormPipe: Formpipe increased annual recurring revenue by 6 percent - profit increased

Software company Formpipe Software reports increased sales, ARR, and profit in the first quarter. Sales rose 11.2 percent to SEK 139 million (125). Annual recurring revenue (ARR) increased 6 percent to SEK 451 million (426). Recurring revenue accounted for 80 percent of sales (82). EBITDA amounted to SEK 30 million (21), with an EBITDA margin of 21.6 percent (16.8). Operating profit amounted to SEK 5 million (4), with an operating margin of 3.6 percent (3.2). Adjusted operating profit was SEK 13 million (4), with an adjusted operating margin of 9.4 percent (3.2). Profit after tax amounted to SEK 5 million (2), an increase of 150.0 percent compared with the previous year. Earnings per share amounted to SEK 0.09 (0.03). Cash flow from operating activities amounted to SEK 29 million (30). "We are starting the year with improved margins compared with both the previous year and the previous quarter. The change process continues with a focus on organic sales growth and efficiency improvements. In terms of sales, the year has started well, particularly for the Microsoft Dynamics business in the Lasernet business area and in the Public business area. At group level, we are seeing improvements in all areas," says CEO Magnus Svenningson in the report. Formpipe, SEK million Q1 Q1 Change Net sales 13 125 11 EBIT 30 21 42.9 EBITDA margin 21 16 Operating profit 5 4 25 Operating margin 3 3 Adjusted operating profit 13 4 225 Adjusted operating margin 9 3 Net profit 5 2 150 Earnings per share, SEK 0.09 0. 200.0 Cash flow from operating activities 29 30 -