Entersoft announced increased revenues and EBITDA for the first half of 2022, with the company maintaining high liquidity with Cash available at €16.6 million and net available at €4.3 million after deducting bank borrowings, as announced today .
As the company states in a related announcement, despite the unfavorable situation, Entersoft continues its dynamic development based on a mixture of organic growth and acquisitions.
Specifically, it announces the basic financial figures for the first half of 2022:
– Revenue €14.6 million, compared to €12.6 million in H1 2021
– EBITDA €4.6 million, compared to €4.4 million in the first half of 2021
– Maintain high liquidity with Cash available €16.6 million and net available €4.3 million after deducting bank borrowing
The 16% increase in revenue came half (50%) organically and the rest from the acquisition of LogOn and Bit Software. Earnings before interest, taxes, depreciation and amortization (EBITDA) increased slightly compared to H1 2021 to €4.6 million compared to €4.4 million in H1 2021.
In the first half of 2022, significant revenue growth was observed in all product categories and in particular in electronic invoicing (Retail Link eInvoicing) which recorded an organic growth of 31% compared to the first half of 2021, as well as in the Logistics and Warehouse Management products where it was achieved an increase of 30% compared to the corresponding half of 2021. The first half saw the postponement of several decisions by businesses for new investments which was partly to do with the unfavorable situation and partly to do with waiting for the announcement of digital transformation projects both from the Recovery Fund as well as from the new NSRF.
Management’s assessment is that in the coming quarters, given the recent acquisition in Romania and the maintenance of positive macroeconomic expectations for the Greek economy, favorable conditions are being created for the maintenance and strengthening of these growth rates. In addition, the expected start of projects included in the programs of the new NSRF and the Recovery Fund, we estimate that it will have a positive effect on the investment decisions made by businesses.
Source: Capital
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
