Steady course and increase of Entersoft profits in the first 6 months of 2020

Stable revenues and increased profits in the first 6 months of 2020 compared to the previous corresponding period, confirming once again the trend that has been formed for more than four years, despite the pandemic. At Group level, revenues amounted to 8.02 million Euros compared to 8.04 million in the corresponding period last year, while profits before taxes grew at a stronger rate and amounted to 2.62 million Euros, compared to 1.92 million in the corresponding period last year, recording an increase of 36%. This increase comes from both the good performance of the parent company and the excellent performance of the subsidiary Retail Link in Greece but also of the subsidiaries in Romania and the United Arab Emirates. The parent company’s net income amounted to 6.15 million Euros, reduced by 3%, while profits before taxes increased by 14% and amounted to 1.80 million Euros.

The Group’s cash and cash equivalents more than tripled, exceeding 9.3 million Euros. These assets, combined with the possibility of borrowing, gives the Group investment opportunities exceeding 12 million euros, of which only 3.6 million came from the recent share capital increase for the listing on the ATHEX Main Market. The Group is considering acquisition opportunities as well as the development of new products and services. For the second half of the year, the backlog of new projects has been strengthened, while the application of e-books and e-invoicing is expected to boost revenues of both the parent company and the subsidiary Retail Link, which holds a leading position as e-invoicing provider.