Strong growth, significant sales growth and more than doubling of profitability showed for the whole year 2021 Profile Software.
According to the listed company, in the last five years it has doubled its turnover, having implemented significant investments and acquisitions, as a result of the smooth implementation of its business plan.
At a consolidated level, the Group’s turnover amounted to € 20.1 million compared to € 15.0 million in 2020, increased by 34% as a result of new projects, but also the constant preference of existing customers for the solutions developed by company. The successful acquisition was also helped by the successful acquisition of Centevo, a leading Asset / Fund Management software company in Scandinavia, whose products have already been incorporated into the Group’s portfolio and are available internationally.
Earnings before Depreciation, Interest and Taxes (EBITDA) increased by 28% compared to the previous period, amounting to € 5.5 million compared to € 4.3 million in 2020 with the EBITDA margin reaching satisfactory levels of 27 , 3%. Profit before taxes amounted to € 2.8 million compared to € 1.31 million last year, recording a significant increase of 113%. Earnings after taxes and minority interests increased by 131% to € 2.2 million from € 953 thousand in 2020.
It is noted that the restructured EBITDA of the group without the impact of extraordinary and non-recurring events (such as the accounting of stock options to the group executives), amounted to € 5.7 million in 2021 from € 4.9 million. the corresponding period of 2020. The restated profits after taxes of the Group amount to € 2.9 million from € 1.8 million without the burden of depreciation arising from the book value of intangible assets of the companies Login and Centevo, during day of redemption.
At parent level, turnover amounted to € 9.17 million while Profit before Tax amounted to € 1.1 million.
The Group maintains its financial soundness, with the debt / equity ratio at 27.8% and the general liquidity ratio at 2.0x as a consequence of efficient working capital management
At the operational level, in 2021 the Profile Group presented a dynamic course with actions that contributed positively to the achievement of the results. The introduction of new solutions for the banking sector led to new agreements of € 13 million with 23 organizations in 11 countries, but also to new international distinctions in the field of industry analysis by specialized companies, such as Gartner, Celent and Forester.
In addition, in 2021 the Scandinavian Centevo was acquired, giving the Profile Group access to new geographical areas and additional know-how. Also, the Finuevo solution was introduced, the mobile-first digital banking in-a-box platform, Acumen.plus, the new automated cash management platform, while Axia Custody was significantly enriched. In addition, the RiskAvert group risk management solution was chosen by the Cooperative Bank of Epirus, while Optima Bank utilized the integrated “omni channel” Digital Banking solution. In terms of public sector projects, the group has successfully completed the e-board for the Ministry of Digital Government and the Ministry of Justice.
Special mention is needed by Profile Technologies, which is constantly growing utilizing investments in staff and infrastructure. This subsidiary already presents new solutions and applications such as “finuevo suite, core and digital”, an end-to-end banking platform, with innovative functionality for banking users and their customers.
The strong and sound financial position of the Profile Group allows the smooth implementation of the investment program, aiming at further development in foreign markets, combined with the expansion of its presence in the complex and large-scale projects of the Greek government, being a comparative advantage over its uncertainty. international conjuncture. The Management of the group closely monitors the developments and estimates that if the general geopolitical situation is not further aggravated, a satisfactory growth rate will be achieved, comparable to that of last year.
Source: Capital
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