Prodware
Increased Profitability in 2020
Regulatory News:
Prodware (Paris:ALPRO):
IFRS compliant statements Data audited - in €M |
2019
2020
Variation
Consolidated annual turnover
187.7
172.4
-8.1%
EBITDA
% of turnover
48.3
25.8%
49.8
28.9%
+3.1%
Current operating income
% of turnover
17.3
9.2%
18.9
11.0%
+9.7%
Operating income
% of turnover
17.3
9.2%
19.2
11.1%
+11.2%
Net income Group share
% of turnover
10.5
5.6%
11.3
6.6%
+7.4%
Business slowdown in 2020 under control
Prodware's turnover in 2020 declined by 8.1% within the context of the global sanitary crisis, mainly due to the slow down of the Integration business activity. SaaS sales continue to grow reaching €45.0M in the same year showing a significant improvement of 15.6% compared to the previous financial year. This recurring revenue now represents 26.1% of Prodware's total revenues.
Seeking continued growth in profitability
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EBITDA in 2020 grew by 3.1% despite a decline in turnover. It reached €49,8M with a 28.9% margin. This was made possible following a sharp decrease of external charges (-22.4% at €16.5 M) and staff expenses (-14.2% at €49.8M). In line with the Group’s strategy of preserving its financial fundamentals, Prodware decided to sell its subsidiary in Tunisia as well as its Integration business unit in Israel in 2020. This fully ties into its 2016-2020 strategic plan of focusing on its core business in Europe, a geography deemed to have the most business development potential.