Annual Reports
Annual Reports
Outlook for 2024
The company monitors the development of the world's economic situation and geopolitical tensions. The slowly budding recovery of economic growth, falling interest rates and normalizing inflation will improve the financial position of customers, and investment decisions can be expected to accelerate towards the end of 2024.
Supported by the current contract base and the projected growth of SaaS (Software as a Service) net sales, QPR expects the growth of SaaS net sales to be double-digit and estimates that the entire software net sales will grow in 2024 (2023: 5,122 thousand euros).
The company expects the operating result to improve significantly in the financial year 2024. The operating result in 2023 was -813 thousand euros.
Highlights of 2023
+36 %
SaaS-business growth
7,550 KEUR
Net sales
182 KEUR
EBITDA
-924 KEUR
The result
-0.055 EUR
Earnings/share
849 KEUR
operative cashflow
Our Strategy
Updated 12/2023
Mission, strategy, and markets
QPR Software’s mission is to innovate, develop and deliver software for analyzing, monitoring, and modeling the organizations’ operations. The company also offers consulting services to ensure that customers get full value from the software and related methods.
Strategic targets
On 14 December 2023, QPR Software Plc refined its current strategy to reflect market changes and the Company's priority areas, and announced renewed financial goals for the strategy period.
In accordance with the refined strategy, the Company profiles itself even more strongly as a software and SaaS player and as a consultant for its core business areas as well as a leading player in Digital Twin of an Organization (DTO) technology. The aim of the refined strategy is to further increase the value the Company produces for its customers and to support the Company's growth through concentration. The Company's mission is to innovate, develop and deliver software for analyzing, monitoring, and modeling the organizations’ operations. The Company also offers consulting services to ensure that customers get full value from the software and related methods.
In accordance with the adjusted strategy (2024–2027), the Company focuses its business on the international growth of SaaS solutions offered by Digital Twin of an Organization (DTO) and the process mining at its core. The Company's DTO offering also includes software developed for modeling and managing and measuring the organization's strategy and performance.
The Company's revised financial goals for the strategic period 2024–2027 are:
- Average twenty (20) percent annual SaaS growth,
and
- Sustainable operating profit.
The Company also continues to build new strategic partner networks in accordance with the strategy announced on March 10, 2022, to achieve a scalable Go-to-Market model, expand its own offering and improve the value it provides to its customers together with technology and implementation partners. The Company concentrates its growth investments in Europe and the Middle East and, through a partner network, on new market areas such as North America.
Our offering
We are a leading player in a Digital Twin of an Organization (DTO) use case and one of the most advanced companies in the world in process mining -software.
We innovate, develop, and deliver software for analyzing, monitoring, and modeling organizations’ operations. In addition, we offer consultancy services to ensure customers get full value out of the software and related methods. Our purpose is to help organizations reach their full operational potential.
QPR product portfolio consists of the following software:
QPR ProcessAnalyzer
Powerful process mining platform supporting all use cases and globally the only process mining Powered by Snowflake software
QPR Metrics
The leading strategy and performance management software with exceptional user experience
QPR EnterpriseArchitect
Enterprise modelling software enabling modelling and analysis of all different enterprise architecture dimensions
QPR ProcessDesigner
Easy to use enterprise level process modelling software with easy and attractive communication portal
Our markets
The Company reports the following geographical areas: Finland, the rest of Europe (including Turkey), and the rest of the world. The Company has closed its business and partnerships in Russia for the time being.
QPR has its own sales staff in Finland, and the United Arab Emirates. The Company concentrates its growth investments in Europe and the Middle East and, through a partner network, on new market areas such as North America.
The Company’s management estimates that the size of the process mining market in 2022 was approximately $1.1 billion. The management estimates that the market continues to grow at an average annual rate of around 49% and reach $28 billion by 2030. The demand for Digital Twin of an Organization technology is expected to grow with the development of the process mining market. The management estimates also that the modeling and organizational strategy and performance management software market is also around $1.0 billion. The market is quite mature but continues to grow at an average annual percentage rate of single digits.
Financial Information
Updated 03/2022
Key Figures (IFFRS)
Consolidated Comprehensive Income Statement (IFRS)
Consolidated Balance Sheet (IFRS)
Consolidated Cash Flow Statement (IFRS)
Definition of Key Indicators
Return on equity (ROE), %:
(Profit for the period x 100) / (Shareholders' equity (average))
Return on investment (ROI), %
(Profit before taxes + interest and other financial expenses) x 100
Balance sheet total - non-interest bearing liabilities (average)
Equity ratio, %:
(Total equity x 100) / (Balance sheet total - advances received)
Gearing, %:
((Interest-bearing liabilities - cash and cash equivalents) x 100) / (Total equity)
Earnings per share, euro:
(Profit for the period attributable to the shareholders of the parent company) / (Weighted average number of shares outstanding during the year)
Equity per share, euro:
(Equity attributable to shareholders of the parent company) / (Number of shares outstanding at the end of the year)
Dividend per share, euro:
(Total dividend paid) / (Number of shares outstanding at the end of the year)
Dividend per profit, %:
(Dividend per share x 100) / (Earnings per share)
Effective dividend yield, %:
(Dividend per share x 100) / (Share price at the end of the year)
Price/earnings ratio (P/E):
(Share price at the end of the year) / (Earnings per share)
Market capitalization:
Total number of shares outstanding x share price at the end of the year
Turnover of shares, % of all shares:
(Number of shares traded x 100) / (Average number of shares outstanding during the year)