2010-01-07-OC_C-Navigating_turbulent_waters_8页_1mb

European Software Index Top 100 Performance Summary 2010

• Market Overview: The European Software Top 100 list released in 2010 highlighted the sector's resilience during the economic recession. Total revenue reached €52 billion with €14 billion in operating profit. US companies dominate, accounting for 44 firms, while Germany has the second-highest representation.

• Resilient Sector Performance: Despite the global economic downturn, the software industry showed slight revenue declines (around 0.6% year-on-year) but stable or improved profit margins (e.g., +1% points in overall EBITDA). Key factors include cost flexibility through maintenance contracts and diversification of revenue models.

• Revenue Streams and Applications: The Top 100 companies generated income from various sources, with recurring revenues (e.g., maintenance, subscriptions) being particularly resilient. Sectors performed differently: Enterprise software (55% of revenue, -2.2% growth) and Security (7%, +2.4% growth) maintained strength, while Industrial (4%, -15.5% growth) lagged.

• Regional Headquarters: Headquartered firms contributed significantly, with the UK and Germany having 15 and 11 companies respectively, reflecting the sector's profit-generating capacity. Revenue distribution shows the Top 10 capturing 58% of total revenue.

• Winners and Losers: High-growth companies included Kaspersky Lab (+92% revenue), Salesforce.com (+51% revenue), and others in sectors with steady demand. Conversely, firms in Entertainment and Industrial areas saw declines, highlighting competitive disparities.

• Methodology Notes: The analysis is based on publicly available data through 2009, focusing on software revenues and EBITDA margins, with adjustments for anomalies like M&A. The report captures trends amid a global shift toward software innovation and economic volatility.