Vincit as an investment
Vincit, founded in 2007, is a leading digital business specialist company that helps its customers transform their commercial abilities and accelerate digital development.
Bilot Oyj merged with Vincit on July 1, 2022. Vincit’s offering that was renewed with the Bilot merger combines business-driven design, tailored software development, data capabilities and extensive expertise, especially in SAP ecosystem technologies. In addition, Vincit's strong reputation as a home for top digital experts provides an excellent growth base to continue accelerating customers' digital development projects.
In the strategy period 2023-2025, Vincit aims to achieve 20% annual net sales growth. The goal is to achieve the growth targets with a combination of organic growth and inorganic growth focused outside Finland. The adjusted EBIT (operating profit before goodwill depreciation) target level is over 10% of net sales during the whole strategy period. The company continues its internationalization and aims for net sales from the USA to represent around 30% of Group net sales by the end of the strategy period. The company aims to keep its equity ratio above 60%.
Vincit’s objective is to distribute at least 30% of the profit for the financial period as dividends.
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 40% year-on-year growth in 2022. 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.