Truffle Capital, the French venture capital firm, has released the tenth edition of the Truffle 100, its ranking of the top 100 European software companies.
Put together in collaboration with industry analysts IDC and CXP Group, which conducted the survey used for the ranking, and Essec Business School, The “Truffle 100 Europe” for 2014 highlights a return to growth with total revenues of €62.2 billion, up 8.3% compared to 2013 (+2.7% in 2013).
German publishers are continuing to lead the way (49.8% of total revenues with 17 companies) and the United-Kingdom comes second (12.4% with 19 companies), followed very closely by French software companies, which account for 12.2% of the ranking’s total revenues with 22 vendors (against 11.9% with 21 publishers in 2013).
At a company level, SAP continues to lead, followed by Dassault Systems. Sage and Hexagon occupy the 3rd and 4th position, respectively.
The 2014 figures also show a continuing trend towards revenue concentration among the top 25 software companies (up 2 points to 77%) and the growing reluctance of financial markets to invest in the sector, with both of these trends already under way in 2013. The ranking also highlights a strong commitment from companies to innovation and R&D, with stable total investments of €7 billion.
It also shows a decline of financial strength: 42 companies have revenues above €200 million (compared to 50 in 2013); 65 companies have revenues above €100 million (compared to 67 in 2013); and 94 above €50 million (compared to 98 in 2013).
Software sales are up 6% to €44.4 billion, compared to €42 billion in 2013.
54 of the companies ranked on the Truffle 100 Europe are publicly traded (compared to 56 listed companies in 2013), representing 81.6% of total revenues (80.6% in 2013), 77.5% of R&D overall expenditures and 94.7% of R&D investments (95% in 2013).