Tecnotree Corporation Financial Report for Q2 and Half Year 2021
Tecnotree Corporation Stock Exchange Release 12 Aug 2021 at 9:00 EET
STRONG GROWTH IN REVENUE AND ORDER BOOK CONTINUES
| Key figures, MEUR | 4-6/ 2021 |
4-6/ 2020 |
1-6/ 2021 |
1-6/ 2020 |
1-12/ 2020 |
| Net sales | 16,7 | 14,1 | 27,9 | 24,0 | 52,8 |
| Adjusted operating result 1 | 7,6 | 5,8 | 10,6 | 8,1 | 19,3 |
| Operating result | 7,6 | 6,3 | 10,6 | 7,4 | 18,6 |
| Result before taxes | 6,2 | 5,4 | 9,1 | 6,4 | 15,9 |
| Adjusted result for the period 2 | 5,3 | 3,8 | 7,7 | 5,5 | 14,2 |
| Result for the period | 5,3 | 4,2 | 7,7 | 4,8 | 13,6 |
| Earnings per share, basic, EUR | 0,02 | 0,02 | 0,03 | 0,02 | 0,05 |
| Order book | 55,0 | 39,4 | 32,1 | ||
| Cash flow after investments | 1,8 | 2,3 | 3,5 | 3,5 | 7,0 |
| Change in cash and cash equivalents | 1,0 | 1,4 | 2,6 | 2,4 | 4,7 |
| Cash and cash equivalents | 10,7 | 5,8 | 8,0 | ||
| Equity ratio % | 49,4 | 25,5 | 39,3 | ||
| Net gearing % | 6,9 | - | 27,1 | ||
| Personnel at end of period | 688 | 622 | 659 | ||
| 1 Adjusted operating result = operating result before one-time items. | |||||
| 2 Adjusted result for the period = result before one-time items. | |||||
CEO Padma Ravichander: Robust first half despite COVID-19 challenges
Tecnotree has achieved compelling growth across key performance metrics during the first half of 2021. Tecnotree’s Digital BSS Suite continues to generate healthy excitement across markets, leading to a record order book in the last 8 years. Tecnotree, despite the Covid impact, continues to cautiously invest in enhancing its products and delivery capabilities, tap new sales channels, improve its competitive position while remaining highly efficient to deliver a strong financial result.
While the world continues to combat COVID-19 related challenges, Tecnotree too has faced similar challenges, especially in its largest development center i.e. India, owing to the second wave caused by the delta variant. Although Tecnotree is taking necessary actions and mitigation steps, we believe that if a significant third wave occurs, this could affect deliveries in the second half of this year and thereby may affect revenue. We are also taking all precautions and providing all possible assistance and safeguards to all our employees globally, to reduce its overall impact.
Further information
Padma Ravichander, CEO, tel +97 156 414 1420
Priyesh Ranjan, CFO, tel +971 50 955 1188
About Tecnotree
Tecnotree is the only full stack digital business management solution provider for digital service providers, with over 40 years of deep domain knowledge, proven delivery and transformation capability across the globe. Our open source technology based agile products and solutions comprise the full range (order-to-cash) of business process and subscription management for telecom and other digital service providers. Tecnotree products and platforms service over 800 million subscribers worldwide. Tecnotree is listed on Nasdaq Helsinki (TEM1V). For more information, please visit www.tecnotree.com.