The Top 100 European Software vendors

A Profitable Industry

3.6 bn€ aggregated net profits,
up from 3.2 bn€ last year
14.4 % of revenues (11 % last year)

  Revenues Truffle 100 Profit Truffle 100 Profit Last Year

SAP

37 % 51 % 60 %
TOP 3 46 % 62 % 73 %
TOP 5  51 % 67 % 75 %
TOP 50 87 % 92 % 95 %

Size matters, with limitations: the most profitable companies are not the biggest.

Profits grow with size, but not linearly

  Net profit % of revenues
TOP 3 2 224 15.6 %
TOP 50 3 319 12.2 %
LAST 50 286 7.3 %
LAST 25 157 7.0 %

… still growing
despite a difficult environment and acquisitions

Revenues growth year one year: +2.8%