First Quarter (January–March 2018)
- License revenue amounted to SKr 177 million (Q1 '17: SKr 171 million), an increase of 5 percent in constant currency.
- Maintenance revenue was SKr 382 million (Q1 '17: SKr 350 million), an improvement of 11 percent in constant currency.
- Consulting revenue amounted to SKr 411 million (Q1 '17: SKr 429 million), a decrease of 3 percent in constant currency.
- Cloud and other revenue was SKr 121 million (Q1 '17: SKr 19 million), a sixfold improvement in constant currency.
- Net revenue totaled SKr 1,091 million (Q1 '17: SKr 969 million), an increase of 15 percent in constant currency.
IFS continues to execute well on its strategy
It is an honor to be writing my first foreword as IFS’s new CEO. I have joined an amazing business with engaged customers, passionate employees, and enormous potential. This is not something many companies in the enterprise software space can boast!
The excellent results from the first quarter of 2018 are testament to our company’s resilience, customer-focus and ambitious plans for long-term growth. Proving the success of our strategy, net revenue for the quarter was up 15 percent year-on-year, in constant currency while revenue from customer cloud deployments grew sixfold year-on-year. A significant proportion of IFS’s cloud-based revenue comes from our acquisition last year of WorkWave, whose products are nearly all sold as Software-as-a-Service (SaaS).
In the second quarter, new versions of IFS Applications and IFS Field Service Management were unveiled at the biggest and most successful customer event in our history–IFS World Conference 2018. These product launches, combined with a committed and energized workforce, are expected to drive new sales and upgrades throughout the year.
President and CEO