Strategy

t the core of Admicom’s clarified strategy is the customer experience of customers in the construction industry. Our goal is to significantly increase the productivity and quality of operations in the construction industry through digitalization. During the current decade, Admicom has expanded its range of solutions to cover the entire construction value chain and transformed from an ERP system provider to a wide-ranging software provider for the construction industry.

Admicom’s latest acquisition, the Estonian Bauhub, is one of the cornerstones of our strategy journey. Bauhub’s project management software enables Admicom’s leading project control and planning solutions to be integrated into a unified software suite facilitating efficient project execution and seamless information flow from planning to handover. The project management software suite is suitable for a wide range of customers, including large construction companies, and has significant international growth potential.

Admicom’s Ultima ERP system, on the other hand, is the most comprehensive overall solution on the market for site, production and financial management. With Ultima, companies operating in the SME construction sector can gain significant benefits and competitive advantage in Finland through highly automated processes.

Our strong foundation in Finland and our wide user base in the construction value chain provide opportunities to build data-driven, AI-enabled models that generate increasing added value for our customers. Through partnerships, Admicom aims to become a key player in the entire construction ecosystem.

During the first two years of our strategy period (2023-2024), we have focused on building the necessary foundation for accelerating organic growth, internationalisation and data-driven operations. We have invested especially in improving the service of our current customers, expanding the solutions in use at our customers and product development.

During its 20-year history, Admicom has a wealth of experience, know-how and data in construction projects. These data reserves create a particular competitive advantage for Admicom as we develop AI-based innovations for our products to improve productivity in the construction industry. Significant progress has been made in our AI development during the strategy period, and the utilisation of artificial intelligence will continue to be one of the cornerstones of our operations in the upcoming strategy phase. We believe that the construction industry will also be more productive, of higher quality and more sustainable when supported by artificial intelligence.

In addition to organic sales efforts abroad, the first significant acquisition aimed at internationalization was completed at the end of 2024. In the second phase of the strategy, we will further clarify the strategic measures for our internationalisation. In particular, we believe in the international capabilities of our project management solutions and the potential to create organic growth also in the international customer base.

In the second phase of the strategy period, we are seeking a clearly stronger level of organic growth in our software products, while taking into account the downturn in the construction industry. In creating accelerating growth, we believe that investments in sales and customer experience will continue to play a key role. In addition, the expanding and integrating range of solutions and new business opportunities around the themes of data utilisation, artificial intelligence and sustainability will give us a competitive advantage and prerequisites for growth in the second phase of our strategy. Acquisitions are still part of our toolbox and can be used to support the growth of the international customer base or to further expand the company’s solution offering for the digitalisation needs of construction.

During 2024, Admicom has continued to implement the strategy announced on November 2, 2022, the content and performance targets of which were be communicated in more detail at the Capital Markets Day held in January 2023. No changes have been made to the strategy in 2024. Published strategic targets 2023-2030:

• Admicom aims for recurring revenue level of EUR 100 million (ARR) by 2030, clearly exceeding the “Rule of 40” target and being present in several European markets.
• During first phase of the strategy in 2023-2024, we aim for organic revenue growth of 8-15% and EBITA margin of 35-40%, due to increased growth investments.
• During the second phase of the strategy, Accelerating Growth, in 2025-2030 we aim for more than 15% organic recurring revenue growth and EBITA margin to exceed 40% of the revenue.
• Acquisitions will be an integral part of Admicom’s growth strategy and will contribute to accelerating the company’s overall growth.

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