Sidetrade

2020 Annual Results (+55%) - Seite 3

Finally, 2020 net profit was €3.4m, up 55%.

Reinforced financial structure

Sidetrade further strengthened their financial structure, with €14.3m in gross cash at year end (vs €5.3m in 2019). Financial debt remains virtually nil at €0.3m.
Sidetrade also holds 66,000 of its own shares with a value of €7.8 million as of 31 December 2020.

Unlike many firms, Sidetrade has had no need for emergency financial measures to withstand the COVID economy: there has been zero need for French government financial support, and jobs have been maintained without short time working.

A leap forward in Sidetrade’s Fusion100 plan with Amalto’s acquisition and confirmation of the ambition to reach a turnover of $100M by 2025

Sidetrade's strategy is guided by a growth plan, dubbed Fusion100, to reach $100M in revenue by 2025, with a compound annual growth rate between 20% and 25% (vs. a mean of 15% for the last two years).

This Fusion100 plan has three key drivers:
Innovation: maintain the Sidetrade substantial lead in AI, and add further features to its platform, to provide the most comprehensive solution on the market. To accomplish this, €14m will be invested in R&D in the next 24 months.
Expansion: Sidetrade is doubling its European sales force to power up its leadership position, and also accelerating its international growth with the ramp up of North American operations.
External growth: On 12 April 2021, Sidetrade announced the definitive acquisition of Amalto, a North American specialist in SaaS for paperless B2B financial exchanges. With Amalto’s cutting-edge technology, and solid North American client base, this acquisition is a huge leap forward, both in terms of innovation and expansion. Amalto will be consolidated into Sidetrade’s accounts as from 1 April 2021.
This is an extraordinary opportunity. As the offerings of the two companies are very complementary, the mutual potential for sales development is fabulous. Amalto will enrich the Sidetrade platform with new features, such as paperless order processing and e-billing. This technology will be all the more important in Europe as e-invoicing becomes mandatory under EU regulations. Furthermore, Amalto’s strong client base, with around 40 large American companies gives Sidetrade prime access to the North American Order-to-Cash market, which is hyper-strategic for Sidetrade’s global development.