Tecnotree Corporation Short Report 1 Jan – 31 Mar 2021 (unaudited)
Tecnotree Corporation Stock Exchange Release 29 April 2021 at 9.00 a.m.
ORDER BOOK REACHES NEW HEIGHT
| KEY FIGURES | 1-3/ 2021 |
1-3/ 2020 |
1-12/ 2020 |
| Net sales, MEUR | 11,2 | 9,8 | 52,8 |
| Adjusted operating result, MEUR 1 | 3,1 | 2,3 | 19,3 |
| Operating result, MEUR | 3,1 | 1,1 | 18,6 |
| Result before taxes, MEUR | 2,9 | 1,0 | 15,9 |
| Adjusted result for the period, MEUR 2 | 2,4 | 1,7 | 14,2 |
| Result for the period, MEUR | 2,4 | 0,6 | 13,6 |
| Earnings per share, basic, EUR | 0,01 | 0,00 | 0,05 |
| Order book, MEUR | 47,3 | 35,5 | 32,1 |
| Cash flow after investments, MEUR | 1,7 | 1,2 | 7,0 |
| Change in cash and cash equivalents, MEUR | 1,7 | 1,3 | 4,7 |
| Cash and cash equivalents, MEUR | 10,0 | 4,5 | 8,0 |
| Equity ratio % | 43,2 | 15,7 | 39,3 |
| Net gearing % | 13,0 | 146,6 | 27,1 |
| Personnel at end of period | 679 | 616 | 659 |
| 1 Adjusted operating result = operating result before one-time items. | |||
| 2 Adjusted result for the period = result for the period before one-time items. | |||
CEO Padma Ravichander: Promising start to the year
Tecnotree continues to be on the robust growth trajectory, the performance for the 1st quarter of 2021 has been very promising compared to our performance for the same quarter last year. The development of global telecom market is showing positive signs, which is resonating in increasing market activity despite Covid-19 pandemic is still ongoing. During the quarter, Tecnotree was able to secure a substantial amount of new orders resulting in the highest order book position in the last six years.
Revenue
Revenue in the first quarter was at EUR 11.2 million demonstrating 13.7% growth from last year. Middle East and Africa region represented EUR 8.2 million or 72.9% of the total revenue and witnessed 16.1% growth from last year. LATAM region presented EUR 2.4 million or 21.8% of the total revenue being at the same level as last year. Asia Pacific and Europe regions constituted a total of EUR 0.6 million or 5.4% of the total revenue.
Profitability
Operating profit in the first quarter was EUR 3.1 million, witnessing an improvement of EUR 1.9 million or 168% compared to last year. Net profit improved by EUR 1.8 million or 287% and earnings per share (EPS) was 0.01 euros compared to 0.00 euros last year.
Order intake
The total value of new orders recorded during the first quarter amounted to EUR 26.4 million, this was 33% more compared to the order intake last year. The impressive order intake also lifted the total order book to new heights being EUR 47.3 million. The most significant achievement of the quarter in terms of order intake was Digital BSS transformation award worth USD 11.7 million from a tier-1 Telecom operator customer in the Middle East region.
Financial situation
Net cash flow after investments in the first quarter was EUR 1.7 million positive and cash and cash equivalents in the end of the period were EUR 10.0 million. Liquidity wise the company continues to be well-positioned to meet its expenses, investments and debt repayment requirements.
Other Business Updates
Tecnotree is on the growth path in its business across global markets by increasing the presence of its brand and taking advantage of the onset of digital transformation requirements of digital service providers.
In 2021 we hope to synergize new partnerships with Digital Service Providers, eco-system players and internet of things (IOT) providers, to introduce new revenue models and API frameworks to take advantage of the 5G roll-outs world-wide and forge new frontiers to empower digitally connected communities in the sectors of Education, Health, E-commerce, Gaming, Sports and Entertainment.
FURTHER INFORMATION
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.