Entersoft: Continued revenue and profit growth in the first nine months of 2021

Entersoft continues to grow its revenue in the first nine months of 2021 compared to the previous corresponding period.

At Group level, revenues amounted to 17.39 million Euros compared to 11.61 million in the corresponding period last year, recording an increase of 50%. The pre-tax profits of the Group also increased at the same rate and amounted to 4.71 million Euros, compared to 3.15 million Euros in the corresponding period last year, recording an increase of 50%.

The majority of the revenue growth was driven by organic growth across all of the Group’s products and services, while recent acquisitions have contributed to a smaller percentage. The results of the acquisitions of the Plexis ERP business from Computer Life and the revenues of Optimum have been included in the current nine months for the first time, while Wedia has been consolidated only for a period of six months.

At the end of the nine-month period, the Group’s cash and cash equivalents continued to increase and amounted to approximately EUR 10.54 million (EUR 8.12 million net cash, after deducting EUR 2.42 million of short-term loans).

The company will continue its efforts for strong growth by combining new acquisitions and organic growth. At the same time, it is planning a dynamic entry into new markets with investments in products recently decided by its Management. In particular, investments have been launched, through the Wedia subsidiary, in new products for Business-to-Business eCommerce but also for demanding Business to Consumer (B2C eShops) in combination with Entersoft’s Backoffice CRM and Analytics. At the same time Entersoft is investing in a new product for Personnel Management, Time Tracking and Payroll and is preparing its entry into this emerging market.