The software company Formpipe presents a new growth strategy and new financial targets when the company today publishes its fourth quarter and full year 2020 results. The new strategy captures opportunities to deliver on a number of markets with the self-developed and successful product Lasernet.
” Formpipe has a stable and profitable business for the public sector, a strong organization and high-quality products that meet an increasing demand as digitalization progresses. With an average annual sales growth exceeding 12 percent since 2016, Lasernet is an important part of Formpipe's continued growth journey. As per the acquisition of EFS in July 2020, our opportunity to scale sales of Lasernet increased, and we see significant potential in accelerating our growth the upcoming years.” Says Christian Sundin, President and CEO of Formpipe.
Key points in growth strategy 2021-2025
While entering a strategic growth journey, the company sets new financial targets:
Investments in growth will primarily take place through capacity building with focus on the USA and Europe. The build-up phase provides a not insignificant short-term negative margin impact before we reach the goals above.
” This is an aggressive venture that gives us the opportunity to make use of the momentum in the market, to develop Formpipe long-term. During the pandemic, we see an increased opportunity to recruit necessary and coveted expertise. We therefore take on some initial investments that will give a short-term negative margin impact but that will deliver good yield long-term.” Christian Sundin finalizes.
Presentation for investors, analysts and media:
Formpipe’s president and CEO Christian Sundin, will present the fourth quarter and full year 2020 results alongside the new growth strategy and financial targets at a webcast, today the 16th of February at 01.00 PM.
How to participate in the webcast
Link to register for the event: https://www.lyyti.in/LIVE_Q_Formpipe_Software__Feb_16th_0854
Live broadcast of the event will be available through this link: https://www.redeye.se/events/803053/803053
Report and presentation will be made available for download at:
Financial reports (formpipe.com)
For additional information, contact:
Christian Sundin, President and CEO of Formpipe, +46 705 67 73 85
This is a translation of the original Swedish version. In the event of any discrepancies between the two versions, the original Swedish version shall take precedence.
This information is inside information that Formpipe Software AB (publ) is obliged make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication through the agency of the contact person set out above, at 08.45 February 16, 2021.
Formpipe builds valuable relationships between data and people. Driven by our core values, since 2004 we have developed premium software that provides you with the right information, in the right context, at the right time. Every time.
We help over 5,500 clients worldwide to digitize and automate business processes. Together with our customers and partners, we co-create a digital society where people thrive. We have offices in Sweden, Denmark, United Kingdom, USA and Germany. Formpipe Software is a publicly listed company on Nasdaq Stockholm.
This information was distributed by GlobeNewswire https://www.globenewswire.com/