Press release submitted on behalf of Nedap.

Nedap, Groenlo, The Netherlands, has released its 2023 annual report. Key points include 2023 revenue (€262.4 million) was up 14% on 2022 (€229.5 million1 ), and recurring revenue rose by 19% while making up 32% of revenue (31% in 2022). Added value as a percentage of revenue increased to 69%, and operating profit was up 16% to €27.3 million. Further revenue growth is expected for 2024, fully driven by the second half of the year. Nedap CEO Ruben Wegman said all key markets contributed to the revenue growth as the company increased its product deliveries to catch up on delivery backlogs despite moderation in product demand towards the year-end in some key markets. Good progress was made in further developing and implementing the Step Up! Strategy, focusing people and resources on the scale propositions. The company expects further revenue growth for 2024. For more information, visit www.nedap.com.