The year 2019 had a positive sign for the Entersoft Group. Its developmental course resulted from organic growth, due to the acquisition of many new important customers in all of its core products and services (ERP, CRM, WMS, E-invoicing, Cloud Services etc.).
The Group’s overall net income amounted to 15.4 million euros, increased by 12% approximately, while pre-tax profits increased by 47% compared to the previous year and amounted to 2.9 million euros.
The earnings were burdened with the once off amount of approximately € 0.37 million, due to impairment surplus value of subsidiaries that have been fully absorbed by the parent company. The significant increase in profitability was due to the economies of scale which generated revenue growth, but also due to the good commercial course of new product WMS and the Cloud services Software as a Service as well as the Electronic Invoicing.
In the areas of ERP, CRM and Enterprise Mobility systems, the company continued its market penetration with new customers of all sizes (small, medium and large businesses) either through direct or indirect sales through its resellers. Among the most emblematic agreements with recognizable companies and organizations were the contracts with the National Opera, the Audiovisual Group, the Lampsa Group (Great Britain Hotel), BETA Securities, Mevaco, PINDOS Poultry cooperative, Betty Ice (a subsidiary of Unilever Romania) as well as a new major project with Japan Tobacco International in Romania.
In the area of Warehouse Systems Management and Logistics (WMS), which is a recent investment, the company increased its market shares by signing about 20 new contracts while hundreds of new companies joined the Retail@Link e-invoicing network, therefore boosting its annual recurring revenue.
In recent years, the group has consistently recorded double-digit growth rates revenue and profits.
At the beginning of 2020, the Athens Stock Exchange (ATHEX) approved the introduction of the company in the Main Market followed by capital increase. The aim of the management is to use the increased funds to boost growth rates in the future, through the acquisition of smaller companies that will enrich its clientele and solutions.