Athens, April 22, 2021
For another consecutive year, the revenues and profits of the Entersoft Group had an increasing trend, despite the negative impact of the pandemic on business investments. 2020 was a milestone year for the Entersoft Group, because during the first months and despite the adverse conditions, the company successfully completed an IPO and was listed in the Main Market of the Athens Stock Exchange, while by the end of the year, the Entersoft share was included in the ATHEX General Price Index.
Growth in 2020 was organic due to many new important clients in all its key products and services (ERP, CRM, WMS, electronic invoicing, Cloud Services etc.). Additionally, the company was very active with acquisitions, completing in November the acquisition of the ERP activity of Computer Life, at the end of December the acquisition of Optimum, a company with Logistics software, while in March 2021 completed the third acquisition of Wedia which is active in the field of e-Commerce. These 3 acquisitions did not affect the results of 2020 but will do so in 2021.
For financial year 2020 the net income of the Group amounted to 16.57 million Euros increased by approximately 7.5%, while the profits before taxes grew by 47.7% and amounted to 4.29 million Euros compared to 2.91 million in 2019. Despite the cash invested in acquisitions and the dividend provided in December 2020, the Group has increased its net cash to over 7.3 million euros, which allows it to constantly finance new growth opportunities both organically and through new acquisitions.
The significant increase in profitability is due to the economies of scale created by revenue growth, but also to the increasing importance of the Group’s new products and electronic invoicing services. Revenue growth was based firstly on the annual recurring income but also on the acquisition of new clients such as PREMIA PROPERTIES (ex PASAL), AGROTIKOS OIKOS SPYROU, ANTIPOLLUTION, GREEK DOUGH SA, GRANTEX GREEK BRAKES INDUSTRY, MANIATOPOULOS SA (IDEAL BIKES), cooperative enterprises pharmacists of WESTERN GREECE, COFFEE BERRY, SUPPLY ASSOCIATION pharmacists of KARDITSA, STANTON CHASE, EDPS SA, PERSONAL CARE and many other ambitious companies. At the same time, significant new agreements were concluded abroad with Japan Tobacco International (JTI) and Unilever in both Romania and Bulgaria. The subsidiary Retail-Link SA continued its growth with new agreements for the EDI and electronic invoicing services with companies such as MYLAN, MILLS PAPAFILI, GILEAD SCIENCES, bp, Barilla, Elgeka, Yfantis, Air Liquide Hellas, Generics Pharma.
The management expresses its optimism for 2021, expecting much stronger growth which will be based on the following:
- Enhanced organic growth of revenues due to the growth of the market in all areas of interest (electronic invoicing, ERP, Logistics WMS software, e-Commerce, etc.)
- The contribution of revenue and profits from recent acquisitions and
- The further utilization of the good liquidity of the Group to seek further acquisition opportunities
The Board of Directors, based on the above and continuing the consistent policy of all previous years, proposes to the General Meeting of Shareholders a dividend of 0.06 euros per share subject to approval of the Annual General Meeting.
About Entersoft S.A. www.entersoft.gr Entersoft is an innovative IT company specializing in software production and business services. It leads the business software market by offering an integrated operating environment for all its products, ERP, CRM, Retail, Mobile, WMS & B.I., designed on Microsoft’s state-of-the-art .NET platform, on Premises or Cloud, licensed or SaaS, showing rapid growth and a qualitatively extended clientele in 37 countries. It has a Certified Partner Network, is listed in the Athens Stock Exchange and maintains subsidiaries in Bulgaria, Romania, United Arab Emirates as well as the Greek companies Optimum, Retail Link and Wedia.