Vincit as an investment
Founded in 2007, Vincit is one of Finland's leading experts in software development and business and service design. The merger with Bilot on July 1, 2022 complements the company's position in the field of e-commerce solutions and especially SAP enterprise resource planning systems. Since our IPO in 2016, our revenue growth has averaged 15% and profitability averaging 11% since 2018. We aim to pay out at least 30% of our earnings in dividends.
*The graph does not include Bilot Plc's figures from 2018–2021
As an agile player, we can provide a full lifecycle service offering and deliver demanding and business-critical projects. We are one of the leading companies in the rapidly growing digital services market. The merger with Bilot Plc expanded our service offering with integration and back-end systems expertise, which also strengthens our competitiveness in the more established IT back-end systems market.
In recent years, we have shaped our services business from the role of a project supplier to that of a strategic and business-critical partner. Our services business forms a logical chain between the design, development, commercialization and ongoing maintenance of digital services. The merger with Bilot Plc enables us to offer our customers strong integration and back-end systems expertise, further strengthening our position as a strategic IT partner.
We are specializing even more in the development of customers' commercial abilities, where digital sales and comprehensive customer experience are at the center. This develops the nature of our customer relationships to be even more long-term and further emphasize our delivery capabilities for ongoing services.
Since the IPO in 2016, our revenue growth has been at an average level of 15%. Our US business has grown steadily and profitably, with more than 50% year-on-year growth in 2021. Our US growth story is proof that our expertise spearheads are also sharp in international markets.
We have grown on our own strengths, systematically increasing the average size and duration of projects, and successfully winning leading global brands such as Yamaha, Kellogg's, GE and Nokia. On its current growth trajectory, the US business is becoming an increasingly significant part of Vincit's entire business.
Consolidation in the Finnish and Nordic IT market is expected to become increasingly active among small, medium and large players. Expanding our product portfolio and expanding geographically through acquisitions has been a key part of Vincit's growth story.
The strong cash flow from our operations puts us in a good position to strengthen our business inorganically. We also aim to distribute at least 30% of earnings per share as dividends.
The key to Vincit's success and rapid growth is our award-winning organizational culture. With a positive and distinctive employer image, we have all the qualities to thrive in the highly competitive talent market, which supports our growth story.
Our ability to recruit the best and most experienced experts in the field and to train new future stars in the field are key competitive factors in the competitive talent market.