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Profile Software group, an international financial solutions provider, announced today the annual financial results for 2016. During 2016, Profile Group enhanced both the range of its internationally awarded solutions and presented new product releases.

At a consolidated level, the group's turnover amounted to € 9.3 million compared to € 9.4 million y-o-y, as a result of project delays in the domestic market due to the current economic climate. Nevertheless, the group has offset this decrease with new projects on international markets.

Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA) remained at € 2.8 million, which are same levels as last year and the EBITDA margin amounted to 30% due to the successful promotion of own products and improved management of operating costs. Earnings before Tax amounted to € 545 thousand, compared to € 979 thousand in 2015, mainly due to the increased number of loans and subsequent financial expenses as well as the increased depreciation resulting from the implementation of a substantial PPP project. As a result, Earnings after Τax and Minority Interests amounted to € 561 thousand from € 919 thousand in the previous year. Earnings per share amounted to € 0.0477, compared to € 0.0781 in 2015.

The Group continues with the efficacy of its investment plan, enhancing its international presence across Europe, but also with an emphasis on the markets of the Middle East and Africa, which is supported by its human capital locally. These investment actions are reflected in increased spending on software distribution and software development but are offset by new customer acquisition, with international sales representing the majority of revenue.

The Group retains its financial strength as the debt over equity ratio was at 1.14x, and the current ratio was 1.9x as a result of effective management of the working capital. At company level, in 2016, turnover amounted to € 9.0 million and earnings before depreciation, interest and taxes (EBITDA) remained at € 1.5 million.

IMSplus the leading investment management platform was implemented in international organisations such as Albilad Capital in Saudi Arabia, BAC San Jose in Central America, Masraf Al Ryan in Qatar, and other countries in Europe and the Middle East. Furthermore, the upgraded Family Office solution was also implemented across the respective organisations operating in the UK, Switzerland, Portugal, Monaco, Greece, Cyprus, Luxembourg, etc., the digital banking platform was selected from banking institutions in Europe and Asia. Moreover, Profile presented its new RiskAvert solution for risk management and Payments, for payments at Sibos International Conference in Switzerland, as well as solutions for FinTech organizations.

In addition, during 2016, the Group's solutions received numerous international distinctions such as the “Risk Management” and “On-Boarding” at the WealthBriefing GCC region Awards 2016, ”Global Banking Solutions Provider Europe 2017” by Global Banking & Finance Review, "Outstanding Wealth Management Technology Provider in Switzerland (Middle and Back Office)" and "Outstanding Front-End Digital Solutions Provider" by Private Banking Switzerland Awards 2016. It is worth noting that last year Profile's solutions were ranked on top position in 2 out of 4 categories in the Celent European Wealth Management Vendors report.

The Group accelerates its solutions’ promotion and coverage in international markets through participation in specialized conferences in Asia, Africa, the Middle East and Europe, highlighting, among other things, its innovative approach to FinTech.

The Management of the Group estimates that the prospects for the current year look promising through the focus on increased penetration in international markets.

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