VIT-BNasdaq StockholmTechnologyIFRS · SEK

Vitec Software Group

Vitec Software Group, headquartered in Umeå, Sweden, is a leading provider of vertical software solutions. The company develops and delivers standardized software for various sectors, including energy, insurance, retail, hotels, churches, and healthcare. Vitec's products are designed to enhance efficiency and provide societal benefits, supported by a business model focused on recurring revenues. The company is listed on the Nasdaq Stockholm Large Cap list and operates in 12 countries with 45 business units.

Ask about the company
Revenue3,634m SEK
+9.0 %y/y
Operating profit (EBIT)712m SEK
+2.1 %y/y
EBIT margin19.6%
−1.3 ppy/y
Net income386.5bn SEK
+94,154.8 %y/y

Fiscal year 2025 · change from previous year

Development 2020–2025

01,0002,0003,0004,000m SEK2020: 1,313 m SEK2020: EBIT 222 m SEK20202021: 1,571 m SEK2021: EBIT 283 m SEK20212022: 1,978 m SEK2022: EBIT 356 m SEK20222023: 2,778 m SEK2023: EBIT 590 m SEK20232024: 3,334 m SEK2024: EBIT 697 m SEK20242025: 3,634 m SEK2025: EBIT 712 m SEK20253,634712
RevenueOperating profit (EBIT)
Ask Clarifo about Vitec Software Group

Business

Share of revenue
Energy Software15 %

Software solutions for the energy sector, enhancing operational efficiency.

Insurance Software20 %

Software for insurance companies to manage policies and claims.

Retail Software10 %

Management software for retail businesses to optimize operations.

Hospitality Software10 %

Solutions for hotels and tourism to manage bookings and services.

Church Administration Software10 %

Software for managing church-related activities and administration.

Healthcare Software15 %

Management software for healthcare providers to improve patient care.

Real Estate Software20 %

Software for real estate agents to manage listings and transactions.

Customers

Vitec serves approximately 26,000 customers across various niche markets, primarily in Europe. Their customer base includes energy companies, insurance firms, retail businesses, hotels, churches, and healthcare providers. The company's software solutions are integral to their customers' operations, providing critical support and enhancing efficiency. Vitec's focus on recurring revenue models ensures stable and predictable cash flows, making it less sensitive to market fluctuations.

Energy Sector

Buys software to enhance operational efficiency.

Insurance Firms

Uses software for policy and claims management.

Retail Businesses

Utilizes software for operational optimization.

Hospitality Industry

Employs software for booking and service management.

Churches

Uses software for administrative management.

Healthcare Providers

Adopts software to improve patient care.

Real Estate Agents

Utilizes software for managing listings.

Strategy

Vitec's strategic priorities focus on growth through acquisitions and organic development. The company aims to maintain a high percentage of recurring revenues to ensure stable cash flows. Vitec's decentralized organization supports a value-driven corporate culture, which is crucial for long-term success. Sustainability is integrated into their business model, with focus areas including responsible growth and reduced environmental footprint.

AcquisitionsMedium term

To expand market presence and product offerings.

Recurring RevenuesLong term

To ensure stable and predictable cash flows.

SustainabilityLong term

To align with societal and environmental responsibilities.

Geography

Vitec operates in 12 countries, with a strong presence in Europe, including Sweden, Finland, the Netherlands, Norway, and Denmark. The company also has operations in North America and Asia. Sweden accounts for 24% of sales, followed by Finland at 21% and the Netherlands at 19%. This geographic diversity helps mitigate risks associated with economic fluctuations in any single market.

Risks

Vitec faces risks related to economic fluctuations in its key markets, particularly in Europe. The company's reliance on acquisitions poses integration and execution risks. Currency fluctuations can impact financial results due to its international operations. Additionally, the software industry is subject to rapid technological changes, requiring continuous innovation. Vitec's high percentage of recurring revenues mitigates some financial risks by providing stable cash flows.

Sorted by severity
LowMediumHighLowMediumHighImpact →Likelihood →Currency fluctuations3Acquisition integration4
Impact is the risk’s severity and likelihood how probable it is over the next few years, both assessed from the company’s reports. Numbers match the list.
  1. Economic fluctuationsImpact: High

    Key markets in Europe may experience downturns.

  2. Technological changesImpact: High

    Need for continuous innovation in software.

  3. Currency fluctuationsImpact: MediumLikelihood: High

    International operations expose to exchange rate changes.

  4. Acquisition integrationImpact: MediumLikelihood: Low

    Challenges in integrating acquired companies.

Ask Clarifo about Vitec Software Group

Accounting

Judgemental items
Revenue recognition

High recurring revenues impact timing and methods.

Impact: Significant on cash flow stability

Goodwill impairment

Acquisitions lead to high goodwill, requiring assessments.

Impact: Potential impact on balance sheet

Currency fluctuations

International operations expose to exchange rate changes.

Impact: Affects reported earnings

Similar listed companies

Publicly listed companies with a comparable business focus.

Scandic Hotels Group

SHOT · Consumer Discretionary

Dustin Group

DUST · Technology

Intrum

INTRUM · Financials

Vestum

VESTUM · Consumer Discretionary

Addtech

ADDT-B · Industrials

Stantec Inc

STN · Services-Engineering Services

Last updated: 24/09/2026