Financial year 2012

  • Net sales EUR 113 699 thousand (EUR 107 750 thousand) – growth 5.5 percent

  • Operating profit EUR 8 308 thousand (EUR 12 280 thousand) – decrease of 32.3 percent

  • Operating profit 7.3 percent of net sales (11.4%)

  • Growth of Automation Services (SaaS and e-Invoicing) 44.1%
  • Recurring revenue (Maintenance and Automation Services) 55.8 percent (48.9%) of net sales
  • Net cash flows from operating activities EUR 6 441 thousand (EUR 15 207 thousand)
  • Earnings per share (diluted) EUR 0.46 (EUR 0.76) – decrease of 40.1 percent
  • Dividend proposal for 2012: EUR 0.23 per share (2011: EUR 0.41)

The Financial Statements have been prepared according to Internal Financial Reporting Standards (IFRS).


Basware Corporation reports one operating segment: Purchase to Pay, P2P.

Basware reports income for products and services as follows: License sales, Professional Services, Maintenance, and Automation Services. License sales consist of Purchase to Pay product family together with payment, financial planning and reporting solutions sold only in Finland. Automation Services include e-Invoicing, scanning services, printing services, catalogue management, purchase message exchange, activation services and Software as a Service (SaaS) services.

Basware also reports the estimated revenue to be recognized for current Automation Services agreements that are in production as well as for new, signed agreements in the next twelve months. Automation Services agreements typically expand several years or are valid until further notice. 

As geographic information Basware reports geographical areas Finland, Scandinavia, rest of Europe and Other. Net sales are split by the customer’s location. Net sales and operating profit are also reported by the location of the assets.  In annual financial statements, the geographical information of non-current assets is reported by the location of the assets.

The accounting principles and calculation of key indicators have remained unchanged, and are presented in the Financial Statements 2012.


Net Sales

Basware Group’s net sales increased by 5.5 percent during the review period (January–December) and were EUR 113 699 thousand (EUR 107 750 thousand). In local currency terms, net sales increased by 3.3 percent.