In total, Addnode Group today has approximately 2,700 employees and consists of around 20 subsidiaries with a geographical presence in 19 countries on four continents. Revenues in 2024 amounted to almost $750 million (SEK 7.8 billion).
It is clear that CEO and President Johan Andersson has successfully run the group since taking the top job in 2017. During his time at the helm, the company has continued to expand primarily through acquisitions, but also organically; a growth that has been appreciated by the company’s shareholders. When he took over as CEO in 2017, the share price was just under SEK 20 (around $2.1 at today’s exchange rate), currently the price is around SEK 116 (around $12.1) for the share, which is listed on Nasdaq Stockholm, in the Large Cap segment.
The acquired business will be consolidated from July 2025 as part of Addnode Group’s Design Management division and its subsidiary SYMETRI.
Why the revenue level fell
That said, the company today (July 14, 2025) reported its second quarter 2025 and although the result exceeded market expectations, revenues fell; down 27.3 percent to 1,457 million SEK (2,005). The reason why the reported sales fell so significantly is Autodesk’s changed business model, where they have taken over customer billing themselves and then send the VAR’s or reseller’s share to, in this case, SYMETRI. Previously, the entire billing loop was handled by the reseller. Addnode states in the report that the organic growth is 34% if they had reported in the same way this year as last year.
But the EBITA result grew and amounted to 238 million SEK (162), with an EBITA margin of 16.3 percent (8.1).
The adjusted EBITA result amounted to SEK 184 million (162), expected 174, with an adjusted EBITA margin of 16.3 percent (8.1). The operating profit was SEK 170 million (96), expected operating profit was 101.
The result before tax was SEK 145 million (72).
“Our business model with a large proportion of recurring revenue is a security in more uncertain times. The economic situation and the geopolitical situation remain uncertain and primarily affect customers’ decision-making processes for major investment decisions,” Andersson writes under the outlook and concludes:
“When we look ahead, we are confident in our companies’ ability to adapt the offering and organization to demand and economic conditions in each market.”
Addnode’s PLM divisions are well positioned
The fact that the company increased its result despite the reduced and above-explained decrease in turnover indicates strong underlying profitability. A reasonable interpretation of the company’s performance is that the company’s underlying divisions, despite the lower turnover, have developed as expected or better. This can be interpreted as the company having a strong fundamental business and that it has positioned itself well for the explosive development expected in terms of technology in the product development area; a position that, given the strong competence development that has always characterized Addnode Group’s PLM and design divisions, will require a lot of consulting efforts and related software. AI, electrification and electronics are some examples of these factors.
Since the group’s revenue and surplus mainly come from the PLM and CAx industry, from TECHNIA and SYMETRI, today’s acquisition is further proof that the group has a promising future.
