At 25 million euros, the management of Profile Software sets the revenue target for 2022, foreseeing particularly positive prospects in the field of banking and investment software in which it operates, but also in the digital projects of the State, of which it claims a part of the total amount. 100 million euros by 2026.
If the forecast of the management of Profile is confirmed, then the listed company will record an increase in turnover of 25% compared to 2021. Thus, the growth course is expected to continue, which, as the CEO of the company Evangelos Angelidis said, has doubled in size. last five years.
A significant portion of this revenue – around € 7 million – will come from the Nordic countries, where Profile gained a presence through the acquisition of Centevo last year. As Mr. Angelidis stated during a briefing at the Association of Institutional Investors, the investment in Centevo, among others, added to the Profile’s clientele some very large customers, opening a new market for the rest of the company’s products.
R&D investment and new acquisitions
Mr. Angelidis also referred to the high profit margin (EBITDA margin) that gives Profile the opportunity to invest 20% to 25% of its turnover in Research and Development. “Thus we have the opportunity to develop all the solutions we offer to the international competition and to be one step ahead of many levels”, he stressed, adding that the goal is for the software to be cloud-based, mobile-first and “why not the software to reach the end customer in a logic Business-2-Business-2-Customer from Business-2-Business that we are today “.
With € 16 million in cash and a net cash of € 9 million, it is not ruled out that Profile will make new acquisitions, which will expand either its geographical presence or the portfolio of solutions it offers. “Acquisitions” are always included in our goals and we have enough liquidity to finance a new investment, “said the CEO of Profile, answering an analyst’s question.
He added, however, that any move would be made carefully and at the right time. “We must always weigh costs and benefits. We do not want to make aggressive moves, just to say that we did something. Whatever happens will be done at the right target and at the right price, as we have done so far,” he said.
The focus is on public works
The management of Profile estimates that the market of investment and banking software is going to double in the next three to five years. “The financial industry is booming. There are new levels of growth, there is a shift to new technologies and automation and the demand for new sophisticated banking systems will increase. This is a market that is directing huge funds for digital investments,” he said. Angelidis.
Apart from these, Profile also claims an important part of the digital projects of the State, such as those financed by the Recovery Fund. “A year ago we set a goal to participate in public projects totaling 30 million euros. Today we are looking for at least double the size, either alone or as members of consortia. We have already signed or have been selected and are waiting for signatures for projects of value. “15 million euros and we are claiming another 50 million euros. So we start from a base of projects worth more than 65 million euros and we can reach 100 million euros in four years”, stressed Mr. Angelidis.
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Source: Capital
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