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Published Date
23 July 2024
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2024 Half‑Year Financial Performance Summary
Annual Recurring Revenue (ARR): Up 24 % year‑on‑year to over €850 million.
Cloud Revenue: Up 20 % year‑on‑year.
Software Revenue: Represents 82 % of total revenue.
This strong performance reflects IFS’s leadership in Asset and Service Management software and its commitment to delivering rapid value to customers. Leveraging AI‑powered technology, IFS helps clients optimize their operations and boost efficiency.
During the first half of 2024, customers such as Exelon, ThyssenKrupp, Molson Coors, Alcoa, Oreca Group, and Bucher Emhart chose IFS solutions. Over the past six months, IFS also added more than 170 new customers and migrated hundreds of existing clients to IFS Cloud.
Mark Moffat, CEO of IFS, commented:
“A 24 % increase in Annual Recurring Revenue reflects the effectiveness of our teams and partners in delivering value to customers. The investments we’re making today will secure long‑term success and reinforce IFS’s leadership in the industry.”
Matthias Heiden, CFO of IFS, added:
“Six consecutive years of growth is no coincidence. Our close alignment with customers’ strategic priorities underpins our strong organic performance. The 20 % growth in cloud revenue speaks to the benefits our clients are realizing from their cloud transitions.”
Independent industry analysts have also recognized IFS as a market leader:
Named a 2024 Gartner® Peer Insights™ Customers’ Choice for Cloud ERP for Product‑Centric Enterprises.
Ranked #1 in EAM market share for the third consecutive year in the 2023 Gartner® Market Share: All Software Markets, Worldwide report.
Scored 4.7 out of 5 in the Field Service Management category on Gartner Peer Insights™.
Scored 4.6 out of 5 in the IT Service Management Platforms category on Gartner Peer Insights™.
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