Profile Software, an international software development company, announces the key financial figures for 2021, in which it presents a significant increase in sales by 34%, and a doubling of profitability as a result of the smooth implementation of its business plan.
As the company states in a relevant announcement, at a consolidated level o Group turnover amounted to € 20.12 million compared to € 15.04 million in the corresponding period of 2020, due to the undertaking of new projects, the constant preference of existing customers for the solutions developed by the company, as well as the successful acquisition of Centevo, a leading company Asset / Fund Management software in Scandinavia, whose products have already been integrated into the Group’s product portfolio and are available internationally.
Earnings before Depreciation, Interest and Taxes (EBITDA) increased by 30% compared to the previous period, amounting to € 5.5 million compared to € 4.2 million in 2020 with EBITDA margin to be formed at satisfactory levels of 27.3%.
The profits after taxes increased by 143% to € 2.2 million from € 906 thousand in 2020.
It is noted that restructured EBITDA of the group without the effect of extraordinary and non-recurring events(such as the accounting representation of share options in the group executives), amounted to € 5.7 million in 2021 from € 4.6 million in the corresponding period of 2020 and the restructured profit after tax of the Group amounts to € 2.9 million from € 1.6 thousand excluding the amortization expense from the book value of the intangible assets of Login and Centevo on the day of their acquisition.
H liquidity of the Group remains at satisfactory levels with total cash and cash equivalents at € 15.6 million and net cash at € 8.8 million.
In operational level, in 2021 the Profile Group presented a dynamic course with actions that contributed positively to the achievement of the results such as the acquisition of the Scandinavian company Centevo with more than 65 customers, the presentation of new solutions for the banking sector that offer highly competitive advantages to organizations as well as new € 13 million agreements involving, among others, 23 organizations in 11 countries. At the same time, Profile Technologies grows by utilizing investments in staff and infrastructure by presenting new solutions and applications such as finuevo, and the mobile first digital banking in a box platform.
The management of the group, given the flexibility it has as well as the projects that are pending, is optimistic in achieving equally impressive results for 2022, taking into account the general situation of the economy.
Source: Capital
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