Omda delivers 12% growth and increased profitability in 2023.

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Oslo, Norway, 12 April 2024: Today, Omda AS (“Omda”), a leading provider of specialised software for healthcare and emergency response, published its Annual Report for the year 2023.

Omda continues to grow and reported record income of NOK 415 million for the year, a 12% increase over 2022. Recurring revenue remains central to Omda’s growth, representing 78% of total sales. Recurring revenue reached NOK 321 million, 14% higher than in 2022.

Omda CEO Sverre Flatby says: “With the significant revenue growth, Omda exceeded the target of breaking the NOK 400 million mark in 2023, which gives us a solid platform to continue towards our long-term growth ambition. The fact that our recurring revenue reached NOK 321 million for the year, 78% of total sales, is a testament to the value of our long-lasting customer relationships.”

Omda continues its geographic diversification, and the share of revenue from the non-Nordic markets reached 17% at the end of 2023 compared to 13% the previous year.

The company increased its EBITDA margin to 15% compared to 1% in 2022, delivering EBITDA of NOK 63 million. Significant improvements were made on this front throughout the year and in Q4-23, the EBITDA margin reached 19%. Net profit for the year was NOK 104 million.

Flatby concludes: “The organisation has driven a successful programme to deliver increased profitability over the last five quarters, and we will continue to reap the benefits of this. We expect further margin improvement through 2024.”

Annual Report highlights include:

  • 2023 income of 415 MNOK, a 12% increase over 2022 (370 MNOK)
  • Recurring revenue grew by 14% in 2023 reaching 321 MNOK (281 MNOK), representing 78% of total sales
  • Full-year organic growth of 9.5% in local currency (13% in NOK)
  • EBITDA for 2023 was 63 MNOK resulting in a 15% EBITDA margin
  • Net profit for the year was 104 MNOK
  • Completed a group-wide margin-improvement programme delivering increased profitability and cash from operations
  • CSAM Health Group rebranded to Omda
  • Completed a new bond issue of 500 MNOK, with an additional tap issue of 500 MNOK

For more information, please contact:
Einar Bonnevie
Chief Financial Officer
+47 91 55 45 32
einar.bonnevie@omda.com

About Omda
Omda is the leading provider of specialised software for healthcare and emergency services in the Nordics with a growing presence in Europe, North America and the Pacific region. The company has more than 500 customers in 27 countries and employs almost 300 dedicated specialists. Our highly specialised healthcare solutions empower medical professionals and emergency responders, enabling them to know more and work smarter. With a focus on user-centric design, value-driven development and close working relationships with customers, Omda delivers solutions that enhance patient safety and improve healthcare outcomes.

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Einar Bonnevie
Chief Financial Officer
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Helen Døcker
Chief Marketing & Communications Officer
helen.docker@omda.com
She is based in the company’s headquarters in Oslo, Norway.

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