Aareon continued growth in the 2022 financial year

Published on 18 Apr 2023

Aareon publishes its Annual Report 2022 "Future is a Team". The new Aareon management increased sales revenues to € 308 million and Adjusted EBITDA to € 75 million in the past financial year. M&A activities were successfully continued.

Mainz, 18 April 2023 – Aareon, the leading provider of SaaS solutions for the European property industry, continued on its growth path. The software company increased sales revenues by 15 per cent to € 308 million in the past financial year (2021: € 269 million). The share of recurring revenues in turnover rose to 74 per cent. Adjusted EBITDA increased by 13 per cent to € 75 million (2021: € 67 million).

Aareon successfully continued its M&A activities, acquiring the Swedish Momentum Software Group AB and the German company Locoia GmbH, among others. Momentum develops, sells and implements Software as a Service (SaaS) for property and energy management. Locoia is an innovative low-code automation and integration platform. It builds the technological basis for the Aareon Connect partner programme launched in the first quarter of 2023.

Harry Thomsen, CEO of Aareon AG: "As a newly formed Management Board team, we developed several strategic initiatives in 2022 that will create further added value for our customers in the future. One key result is the new Aareon Connect partner programme, which was launched in March 2023 with more than ten partners in Germany. This opens up our digital ecosystem and offers new innovation potential for the property and housing industry."

In addition to client- and offering-oriented initiatives, Aareon also focuses on its employees in particular. Aareon underlined this in the 2022 financial year with the new People & Culture Management Board department, for which Dr Ernesto Marinelli is responsible. In addition to resilience and diversity, the central topics include the expansion of the future-oriented learning offering in order to increasingly support lifelong learning.

Outlook: Recurring revenues as revenue driver
For the 2023 financial year, Aareon's consolidated sales revenues are expected to increase to between € 325 million and € 345 million (2022: € 308 million). The main revenue driver is the recurring business with SaaS, subscription and maintenance contracts. Adjusted EBITDA is expected to be significantly above the previous year's level at € 90 million to € 100 million (2022: € 75 million).