TeamSystem, revenue up 19%

TeamSystem, active in the development of digital solutions for enterprise business management, closed 2024 with EUR 1 billion in revenue, up 19% year-on-year. Normalised Ebitda stood at EUR 468.8 million (+18%), with a margin of 46.5% and recurring revenue accounting for approximately 83.7% of the total. Annual Recurring Revenue (ARR) in fact exceeded EUR 837 million (+21%). This was announced by the company in a statement.

These results, TeamSystem explains, were achieved thanks to an expanding customer base, which exceeded 2.5 million, and a team of more than 5,000 people. In 2024, the company also consolidated its international expansion strategy, thanks to an M&A investment plan that has exceeded EUR 500 million in the last two years. As a result, the group now operates permanently in seven countries in Europe.

For the future, TeamSystem will continue to focus on innovation, as demonstrated by the already announced investments of more than EUR 1 billion in R&D and Open Innovation on a five-year basis. In particular, EUR 250 million of the plan has been earmarked for AI, to promote its integration into all of the company's solution suites.

"Our cash conversion level reached 102%, an increase of 16 percentage points compared to 2023. This result allows us to continue to strongly support internal technological development, which is dedicated to continuous innovation," commented Tommaso Cohen, Coo of the TeamSystem Group. In 2024, the tech company was strengthened "also thanks to an intense growth activity by external lines that is allowing us to successfully expand our presence in Europe and the Mediterranean basin," added CEO Federico Leproux.