Profile Software, an international financial solutions provider, announced today the group’s 2019 fiscal year results, reaffirming its predictions while maintaining a steady increase in sales and profit figures. Key Group’s milestones, for the year, include the accomplishment of reaching double-digit growth rates for a third consecutive year, the assignment of large scale projects by Top-tier banks, which resulted in increasing the international sales figures (accounting for 2/3 of total sales revenue), as well as launching new solutions and implementing Digital Transformation projects in the Greek Public Sector.
At Group level, for 2019, turnover reached € 15.8 million compared to € 13.8 million in 2018, increased by 14%, as a result of new projects awarded as well as customer loyalty in the company’s solutions.
The Earnings Before Interest, Tax, Depreciation, and Amortisation (ΕΒΙΤDΑ) amounted to € 4.3 million compared to € 4.1 million in 2018, while the EBITDA Margin remained at satisfactory levels of 27.6%, as a result of the higher contribution to revenue of own product sales. Investments in R&D and commercial development were completely covered by the increase in sales. In 2019, Earnings Before Taxes amounted to € 2.4 million compared to € 1.7 million, thus showing a significant increase of 43%. Earnings after Taxes and minority interests reached € 1.8 million from € 1.3 in 2018, increased by 40%, while the earnings per share reached € 0.1525 compared to € 0.1091 the year before.
The Group demonstrates steady financial robustness, with a Debt to Equity ratio at 0.83x and Current ratio at 1.75x, as a result of efficient working capital management. At Parent level, the turnover amounted to € 8.6 million while Earnings before Tax at € 1.2 million.
The Group’s international expansion was boosted through new project assignments in Europe, the Middle East, Asia and America concerning FMS.next, Axia, Acumennet and RiskAvert platforms, as a result of ongoing investments in these as well as by expanding its workforce on a global scale. At the same time, investments in cutting-edge technology and the need for digital transformation in the Greek Public Sector, have created opportunities for the Group to successfully pursue relevant projects.
The Group’s R&D program is enriched with new technologies and talented human capital, aimed to deliver superior solutions that streamline operations and meet evolving industry requirements. During 2019, new features were presented in Treasury Management enabling real-time treasury in the cloud, in Banking solutions covering PSD2/Open Banking requirements as well as in Investment Management solutions with new Custody capabilities.
The Group has a significant international presence offering solutions that enable secure remote access of users and their customers, in a customisable working environment that effectively supports disperse working via any device, in compliance with international safety standards, for the financial services industry. Profile’s Risk Management solution has also been enriched to offer data analysis capabilities so as to draw safe scenario alternatives during times of distress.
The Group’s solutions have been once again distinguished and included in leading industry reports such as Gartner, Celent, Forrester, Aite group etc. while being awarded by well-established publications on innovation and advanced technology. The Profile Group also strongly supported industry events to promote its solutions’ competitive features as well as informing the market on the latest industry trends and solutions available.
With a significant increase in the stock price in 2019, noteworthy investments by Greek and Foreign Institutional Investors, as a result of its growing presence in 40 countries and equally dynamic growth in personnel, the Group continues smoothly its operation during the current fiscal year and keeps investing in new products and market expansion. At the same time, due to COVID-19 outbreak as well as the new market demands, the group is adapting the way its workforce operates and closely monitoring the situation as it evolves, trusting that its strong financials and large client base will allow for successful sustainability given the current situation thus foreseeing maximum returns the day after.