Basware & the year 2012 in brief
accelerating global growth
Basware, the global market leader in Purchase-to-Pay and e-Invoicing solutions, proceeded in implementing the growth strategy and transition from a software company to a service company in several concrete ways in 2012
Alusta, the open standard cloud-based platform for Purchase-to-Pay that was launched at the beginning of the year, was an important milestone in Basware’s strategic change and transition to service-oriented business
Strong growth in Automation Services continued. Growth in services was largely generated in the international market. The transaction volume processed by Automation Services was up 63.4%.
Service business strengthened growth in net sales during the third quarter. The transaction volume processed continued to grow in line with the objectives. An updated strategy until 2015 was published in September, emphasizing the objective of strong global growth.
Basware continued to support organic growth with acquisitions in its key markets. In 2012, Basware became the leading e-invoice operator in Germany with the acquisition of First Businesspost GmbH. The acquisition of Certipost’s network and e-invoicing business made Basware the market leader of e-invoicing in the Benelux market in early 2013. Basware is also the market leader in the Nordic countries.
In 2012, Basware’s full-year net sales amounted to EUR 113 699 thousand, up 5.5%, and full-year operating profit was EUR 8 308 thousand. The decrease in license sales is partly attributable to the significant migration to SaaS services. The Automation Services business grew by 44.1% during the year as a whole.
We have also connected an increasing number of suppliers and buyers to our open network with new products and delivery methods during the year. In 2012, the transaction volume was 34 million in total, up 63.5%.
Alusta, the unified cloud-based platform for Purchase-to-Pay that was launched at the beginning of the year, was an important milestone in Basware’s strategic change and transition to service-oriented business. Alusta has been received well by our customers, and we will focus on migrating existing customers to it.
Basware’s transition process was accelerated in the fall by publishing an updated strategy that emphasizes our target of strong global growth. Basware aims to become the world's largest network of e-invoices and other electronic messages for buyers and suppliers by 2015.
The key objectives include accelerated growth in the transaction volume, strengthening our market position in selected key markets, more accurate segmenting of services and products to companies of all sizes, with particular attention on small and medium-sized enterprises, developing customer loyalty, and improving the company’s profitability.
Basware had 1,423 employees at the end of 2012. The growth in the number of personnel is mainly due to an increase in the number of personnel in the Indian unit and the acquisition of First Businesspost GmbH.
The development of profitability is particularly based on the adoption of a scalable sales and delivery model and launching a global efficient service production network at full steam.
|Operating profit before IFRS3 amortization||10,555||14,290|
|% of net sales||7.3||11.4|
|Profit before taxes||8,357||12,332|
|Profit for the period||5,863||9,671|
|Return on equity, %||5.8||11.6|
|Return on investment, %||8.2||14.9|
|Liquid assets*, EUR||34,519||42,977|
|Equity ratio, %||77.6||81.9|
|Earnings per share, EUR||0.46||0.76|
|Earnings per share (diluted), EUR||0.46||0.76|
|Parent company's shareholders' equity per share, EUR||7.84||7.76|
Net sales and operating profit 2008-2012
|Net sales, mEUR||86.1||92.7||103.1||107.8||113.7|
|Operating profit, mEUR||8.7||11.8||13.5||12.3||8.3|
Net sales by business operations 2012
|Maintenance 34.9 %,
|Professional Services 28.9 %,
|License Sales 15.3 %,
|Automation Services 20.8 %,
Transactions in Automation Services by quarters 2010-2012
= millions transactions. The volume of transactions grew by 63.5 procent in 2012.