Entersoft announces its key financials for fiscal year 2023:
- Revenues of €37.8 million, increased by 28% compared to fiscal year 2022 (€29.6 million)
- EBITDA of €12.7 million, increased by 33% compared to fiscal year 2022 (€9.5 million)
- Earnings before Taxes of €8.8 million, increased by 31% compared to prior year 2022 (€6,7 million)
- Cash balance of €11.2 million, compared to €14.8 million at the end of prior year 2022.
2023 was one more year of intense activity for Entersoft, as we concluded 4 new acquisitions, new products launched in the market, we achieved entrance into new vertical markets, we concluded our internal restructuring and simplification plan with legal mergers in Romania.
In this framework, Entersoft achieved strong revenue growth of 28%, both organic, winning new customers and new projects, and from acquisitions.
At the same time, the company achieved strong profitability for one more year with EBITDA margin 33.6% which is one of the highest in the industry internationally.
For 2024, the Company will continue on a similar path and will pursue strong double-digit organic growth rates while at the same time continuing the search for new acquisition opportunities in both Greece and Romania. We estimate that organic growth will remain strong for the coming years as a result of the increased demand for all the Group’s products and services, which is further strengthened by the Government initiatives such as the gradual mandatory application of Business2Government einvoicing, the integration of retail systems with payment POS, the implementation of the digital job card and other similar reforms that are planned.
