Entersoft reported double digit growth in revenues and earnings and strong liquidity for the first half of 2010.
Thursday, 01 January 1970
Athens, July 13th, 2010. Entersoft's Group reported double digit growth for first half of 2010, in revenues, profit and cash flow, despite the unfavorable economic climate. The Bulgarian and Romanian subsidiaries during this period, contributed approximately 4% of the Group's total income.
Entersoft's continuous growth is mainly attributed to:
- The new products developed and launched as per the announced investment plan during the company's entrance in the Alternative Market of the Athens Stock Exchange
- The sales expansion in Bulgarian and Romanian markets
- And its entrance to the growing market of "e-invoicing" services through its subsidiary Retail Link S.A.
The Group and the Holding company strengthened liquidity while maintained ZERO loans, despite its investments and acquisitions. The recent General Assembly of the company decided to approve a bonded loan of 1,5 m. Euros via Alpha Bank to support further growth through acquisitions of existing companies. The loan along with Entersoft S.A.'s own liquidity will provide the company the ability to invest up to 2,5 m. Euros in new acquisitions.
The results of the Group and Entersoft S.A. for first half of 2010 are the following:
- Group's Turn Over reached 4,224 m. Euros v.s. 3,802 m. Euros last year, increased by 11,12%
- Group's Earnings Before Taxes reached 0.962 m. Euros v.s 0.696 m. Euros last year, increased by 38,19%
- Group's Earnings After Taxes reached 0.598 m. Euros, increased by 27,27% despite the extra tax contribution imposed by the Greek government for the 2009 earnings amounting to 90.000 Euros.
- Entersoft's Turn Over were 3,795 m. Euros v.s 3,574 m. Euros last year, increased by 6,19%
- Entersoft's Earnings Before Taxes were 0.955 m. Euros v.s 0.872 m. Euros last year, increased by 9,51%
- Entersoft's Earnings After Taxes were 0.622 m. Euros, after the extra tax contribution imposed by the Greek government for the 2009 earnings amounting to 88.000 Euros
- The company has ZERO loans while the cash flow index was improved to 5,69 v.s. 4,05 last year
Entersoft S.A. was recently awarded by Microsoft Corporation as «2010 Microsoft Country Partner of the Year», for its technological superiority and innovation, customer satisfaction and expansion as well as its business excellence and impact.