Profile Software, an international financial solutions provider, announced today the group’s H1 results, demonstrating a significant sales and profitability growth y-o-y. The Group's international expansion has significantly contributed to this increase, since two thirds of the group’s revenue derive from International Operations, as a result of the continuous investment in the global marketplace and delivering new solutions.
At a Group level, for H1 2019, turnover reached € 7.6 million compared to € 6.3 million in H1 2018, increased by 20%, as a result of Group's steady penetration to international markets, as well as the Group’s client’s loyalty in selecting new solutions.
The Earnings Before Interest, Tax, Depreciation, and Amortisation (ΕΒΙΤDΑ) increased by 20% compared to the respective previous period, amounted to € 2.1 million compared to € 1.7 million in the same period in 2018, while the EBITDA Margin remained at satisfactory levels of 28%, as a result of the higher own product sales and new overseas customers, following investments in R&D that led to more sales. Earnings Before Taxes increased by 81% amounted to € 1.2 million compared to € 0.7 million, during the respective period last year, showing an increase of € 0.5 million, due to increased revenue and positive financial results. Earnings after Taxes and minority interests were doubled reaching € 1.0 million from € 0.5 in 2018, while the earnings per share reached € 0.0894 compared to € 0.0417.
The Group demonstrates a steady financial robustness, with a Debt to Equity ratio at 1.0x and general liquidity ratio at 1.6x, as a result of efficient working capital management.
The Group’s international expansion was boosted through new project assignments in Europe, the Middle East, Asia and America, presenting new innovations in its Investment Management, Banking and Treasury solutions that fully support automation, reporting requirements as well as PSD2 and Open Banking with Cloud and SaaS capabilities. In addition, it has expanded its workforce by more than 30% thus further boosting its international activities whilst taking on educational technology programs initiatives to support young developers, such as Stackforce. At the same time, Profile continued its active participation in local and international events, by presenting new solutions and therefore developing its presence in key markets.
The Group’s solutions have been distinguished and included in leading industry reports of Gartner, Celent, Forrester, Aite group etc. while being awarded by well-established publications for innovation and advanced technology.
Based on the Group’s successful track record to date along with its dynamic international markets’ penetration strategy, the Group’s Management anticipates the efficacy of its plans for the remaining of the year.