Basware E-invoicing Services grows 32 percent. Transaction volume up 53 percent

Things are looking pretty good for Basware. Earlier this year Basware got their hands on a large German network by acquiring First Business Post. And after that they were also happy to report that global adoption grew with a straggering 20%. Just imagine what the adoption rates in the front runner countries are, with a global 20% adoption rate.

2011 was also the year in which a number of new Basware services was launched. Among other things, a new e-invoicingdienst for customers within the Finnish market was launched, which wasd developed together with Nordea Bank. In addition, Basware introduced InvoiceOut, an extension to the already existing Basware AP Automation service.

And they can add some more blessings to their list. On of those is that Basware Automation Services, including for SaaS and e-Invoicing, generated a growth of 32.2% compared with 2010.

The year 2011 in Basware facts and figures

And we have some more nice data for you:

  • Net sales grew with 4.5% to EUR 107.7 million
  • Operating profit decreased to EUR 12.2 million, which included a restructuring provision of EUR 1.2 million due to streamlining measures.
  • Transaction volume in 2011 grew by 53% to 20.8 million
  • Recurring revenue accounted for 48.9% of net sales.
  • Basware saw the largest growth in net sales in Finland (4.5%) and Scandinavia (8.7%) .
  • Maintenance revenues for 2011 increased by 8.9% compared with 2010, accounting for 33.6% of net sales.
  • Professional Services revenue increased by 4.5%, accounting for 31.7% of net sales.

Basware in Q4 2011

We even have some facts on the results in Q4 2011:

  • a slight growth in net sales to EUR 30 million, a growth of 0.3%.
  • Operating profit in the quarter decreased by 30%, having included the restructuring provision of EUR 1.2 million.
  • Automation Services, including SaaS and e-invoicing grew by 17.9%, with transaction volumes processed within the Automation Services business reaching 6.2 million in Q4.
  • Basware estimates revenue for existing automation services agreements over the next 12 months to be EUR 18.3 million, a growth of 6.2%.
  • In Q4, license sales decreased by 16.3%, as sales of SEPA (Single European Payments Area) related banking software decreased by 48.5% as the majority of customers had already implemented the SEPA update.
  • Maintenance revenue in Q4 increased by 7.2%, accounting for 31% of net sales.

Basware expects its net sales to grow from 2011, and operating profit for 2012 is expected to be EUR 8-18 million. So, now you know.

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