(News Bulletin 247) – The world leader in the field of project and business portfolio management has announced the approval of its registration document, a first step towards an IPO on the regulated compartment of Euronext Paris.

Planisware is at the gates of the Paris Stock Exchange. The company specializing in the field of project and business portfolio management announced Tuesday morning the approval of its registration document by the Financial Markets Authority, which constitutes the first step in its introduction project on the regulated market of Euronext Paris.

Planisware had already expressed its intention to join the Parisian market, last June thus formalizing market rumors. In mid-May, Reuters, citing sources close to the matter, indicated that the French group was studying several strategic options including a stock market listing.

A new phase of growth

Founded in 1996 by Pierre Demonsant, Planisware is a company specializing in the publishing of software for Project Economy. This term is defined by the Project Management Institute as the part of the global economy in which “organizations create value for their stakeholders through successful project execution, product delivery, and value chain nesting.”

Thus, the French group provides solutions to help organizations transform the way they design, plan and deliver their projects, project portfolios, programs and products. Present in nine countries, the company serves 500 clients in a wide range of sectors and professions in more than 30 countries around the world, in particular numerous “key account” clients including the pharmaceutical giant Pfizer and the bank Société Générale.

It relies on a personalized customer service offering, which allowed it to post a net customer retention rate of 121% last year, with a low attrition rate (volume of lost customers, Editor’s note) by 1.4%.

Planisware indicates that it is positioning itself on a market whose size is estimated between 5 and 6 billion euros in 2022 and which is expected to grow at a compound annual growth rate of 11% to 12% between 2022 and 2028. To best capture this market in full expansion, the IPO case therefore seemed an appropriate and logical option for Planisware. The company hopes in this way to strengthen its positioning in its strategic markets, while developing its visibility and the notoriety of its brand.

A return to the shareholder planned

In 2022, Planisware indicates having achieved a turnover of 132 million euros and an adjusted gross operating profit (Ebitda) of 41 million euros, i.e. an adjusted Ebitda margin of 31%. Planisware explains that it maintained this pace of growth in the first half of 2023 and recorded an increase of 18.9% in its turnover compared to the first half of the previous financial year.

In 2023 and 2024, the company plans to achieve revenue growth of 19.5%, which will be, according to Planisware, driven in particular by its SaaS (Software as a Service) activities. service, Editor’s note). Planisware’s adjusted Ebitda margin is expected to exceed 31% in 2023 and reach approximately 33% in 2024. It aims to achieve an adjusted Ebitda margin of approximately 35% in 2026, an improvement of approximately 400 basis points compared to the financial year ending December 31, 2022.

Finally, Planisware intends to implement a shareholder return policy. It plans to pay a dividend representing 40% of its 2023 profit next year and intends to maintain this level of dividends in the medium term, provided that it confirms its objectives. The company also specifies that the founders will retain a majority stake in its capital following this potential IPO.

If Planisware completed the process, this operation would unblock the counter of introductions on the regulated Euronext Paris market, which has been at a standstill since the listing of hydrogen producer Lhyfe in May 2022. The Euronext Growth compartment, dedicated to small and medium-sized businesses, has so far housed all operations for the year 2023. Including those of Osmosun, the specialist in low-carbon water desalination and the manufacturer of natural ingredients for the food industry and cosmetics. Vinpai, last July.