Featured in Vintage Altaroc Odyssey 2022, IFS Software recorded 38% sales growth in the first half of 2023, reaching 493 million euros, driven by its Cloud activities and recurring annual revenues.
The Swedish unicorn, which specializes in enterprise software platforms, has continued to win over new companies, and now counts Nestlé, Tetra Pak, Mars, Bosch and Rio Tinto in its customer portfolio.
The acquisition of Poka this summer has also enabled us to extend our expertise in digitalization, with a range of solutions to enhance employee safety, efficiency and productivity.
- Cloud-related revenues up 55% in H1 2023 (vs. H1 2022)
- Software revenues up 44% in 1st half 2023 (vs. 1st half 2022)
- Annual recurring revenues up 55% (vs. 1st half 2022)
Darren Roos, President and CEO of IFS, said: "These results are the culmination of five years of hard work to establish our company as a thought leader and a Partner with the agility to respond to our customers' needs. We have always been able to adapt more quickly to market dynamics than some of our larger competitors. Our average annual growth rate of 37% over five years is a validation of our proximity to our customers". He concludes: "I am proud of the ongoing commitment of our employees and Partners, and of the trust placed in us by our customers. The success of our organic and inorganic growth strategies is evidenced by our results and by our ranking as a leader, year after year, by customers and analysts alike".
