Techedge group ends 2020 with rising profits and improvement in all economic and financial indicators

0


MILAN, April 7, 2021 / PRNewswire / – The Board of Directors of Techedge SpA, held on March 18, 2021, examined and approved the draft separate financial statements and the consolidated accounts on December 31, 2020 and the consolidated non-financial statement (CNFS) prepared in accordance with Italian Legislative Decree 254/2016, which will be submitted to the general meeting scheduled for April 29, 2021.

Techedge Group performed better financials compared to 2019, despite revenue growth that stabilized over the year from mid-single-digit levels in the first half of the year to stabilize at around 1 % increase in annual net income at the same exchange rate. This is an extremely positive result considering the unprecedented context in which it was carried out, in which a significant amount of production, distribution and consumption activities came to a standstill, in many cases and for periods of several weeks or months, with the suspension, revision and postponement of the investment plans of various clients.

Compared to a net income of € 199.4 million and a total income of 205.4 million euros, which are essentially stable compared to 2019 at the current level (200.5 million euros and 206.3 million euros respectively), the operating margin improved significantly thanks to double-digit EBITDA growth (+ 17%) 23.5 million euros (Margin of 11.7%) to € 27.6 million (Margin of 13.8%) and EBIT (+ 24%) of 16.2 million euros (8.1% margin) to € 20.2 million (10.1% margin).

The improvement in the operating margin is the result of measures taken to increase the flexibility and productivity of the company, and to contain the costs induced by the spread of the pandemic without resorting to the reduction of hours or employment, and on the contrary to promote the development of the Group’s employees and the maintenance of their professionalism and training.

On the financial side, the emphasis placed on the management of working capital requirements and cash equivalents made it possible to generate cash at the operational level, with free cash flow of 24.7 million euros and improvement of December 31, 2019, going from a financial debt of € 0.3 million to a positive net financial position of € 17.9 million with a cash position of € 45.5 million at the end of December.

Domenico Restuccia, CEO of Techedge Group, said: “2020 has been a difficult year and has forced us to work amid global uncertainty. The pandemic has accelerated many trends that were already on the rise on the digital transformation fronts. and sustainability, by promoting a real revolution in behavior and consumption patterns for goods and services, and by emphasizing the need to adopt more virtuous approaches from a circular economy perspective.

In such a difficult year, we were able to turn our obstacles into resilience building and development opportunities, continuing to invest in people and digital skills, with the aim of becoming ever more strategic partners for all businesses. wishing to use technology to their advantage and to become new sustainable leaders. The 2020 results are an example of the quality of the long-term strategic vision shared by the entire Board of Directors of the Group, which has always guided our choices and will support us in the next periods of growth and improvement of our activity. “

Vincenzo Giannelli, CEO of Techedge Group, added that:

“Throughout 2020, we have been driven by a globally articulated action plan focused on three guidelines: the establishment of specific protocols to ensure the safety of our staff, the closure of our offices and remote work; The continuity of all infrastructure, design and maintenance services with our customers; the greatest attention to the economic and financial balance of the Group by stepping up monitoring and control activities.

These three key guidelines have enabled us to keep the wheel spinning and to pursue our medium and long term growth strategies on different fronts, not only continuing to support our established clients, but also gaining new clients over the course of the year. year, and being able to end a year as difficult as 2020 with top-notch financial results.

End of communication: https://www.techedgegroup.com/hubfs/IR-FOLDER/Files/IT/Comunicati_price_sensitive/Comunicato_stampa_post_CDA_18_03_2021_def.pdf

Logo – https://mma.prnewswire.com/media/942184/Techedge_Logo.jpg

SOURCE Techedge SpA



Source link

Share.

About Author

Comments are closed.