Vitec’s Annual report 2023 has been published

The Swedish version of the Annual report and Sustainability report has been published. The report shows how sustainability is an integral part of our business and how our products create value for customers, stakeholders and society.

- Vitec's goal is to be a sustainable growth company. We develop our existing companies and add new ones through acquisitions. In 2023, we delivered strongly in both target areas, says Olle Backman, CEO, Vitec Software Group. He continues:

Organic growth in sales over the past year has been approximately 10% and total growth, including acquisitions, amounted to 40%. Seen over 10 years, total growth, including acquisitions, has averaged about 22%. We continue to increase our margins. Being profitable is a prerequisite for long-term action. For us, it is crucial to continuously refine our products in order for our offering to remain relevant in the future.

During the year, we completed six new acquisitions, which show that we have an attractive offering to entrepreneurs or owners who are considering selling their fine, vertical software companies. Above all, we offer an everlasting home where companies and employees can continue to develop, by taking part in the collective experiences and network of all our companies. Together we are stronger and a partner you can rely on – today and tomorrow.

We take pride in announcing that our Board of Directors has recommended a dividend increase for the 22nd year in a row. Consistent with our dividend policy, the board proposes a distribution of SEK 3.00 per share. This marks a continued commitment to our shareholders, Olle Backman concludes.

The Annual report available on our website
The Swedish version of the Annual report can be downloaded at: https://www.vitecsoftware.com/investerare-press/rapporter/
An English version will be available on our website in a few weeks from now. Printed versions will be available soon and can be ordered from our website or by mail. To order a copy by mail, use this address: Vitec Software Group AB, Tvistevägen 47 A, 907 29 Umeå, Sweden.

The financial year covers the period from January 1 to December 31, 2023.

Correction in the Year-end report 2023
In connection to the preparation of the Annual report 2023, we have made a correction to the additional information available under the heading Acquisitions during the period, on page 15 in the Year-end report 2023. The correct figure for profit before tax that acquired companies have contributed since the acquisition date up to and including December 31st should be SEK 113.2 million. No other information is affected, it is only this information that has been corrected in the year-end report.