Tecnotree is off to a Promising Start with Robust Q1 2021 Results

Tecnotree, a global provider of Business Support Systems (BSS) for the telecom industry, announced its financial results for the first quarter ended on March 31, 2021. With the growth in almost all the parameters, including an increase of 287% in Net Income, the company continued its success streak after posting a strong result for the year 2020.

The results of Q1 2021 at a glance compared to Q1 2020 are:

• Net sales grew to €11.2mn, an increase of 13.7%
• Net income registered an increase of 287% to €2.4mn
• Cash & Equivalent posted an increase of 120% to €10.0mn, depicting well-positioned liquidity
• Order book increased by 33% to €47.3mn – highest order book position in the last 6 years
• MEA region reported a growth in revenue of 16.1% and received a large digital transformation order of $11.7mn from a tier-1 operator

Tecnotree CEO Padma Ravichander states that “Despite continued economic challenges due to the pandemic, we reported an  all-round growth and improved profitability. We had achieved one of  the best Q1 performance in the company’s history  in Q1 of this year and were able to surpass even our own benchmark performance of Q1 2020.”

“With the pandemic still raging in several parts of the world, we continue to remain committed   to our customers and  our employee wellbeing in these difficult times while still working to ensure  delivery  commitments are met through a multi-pronged approach.”  Padma further added.

The company is strengthening its digital BSS stack further using RPA, AI and ML with innovative 5G-enabled platforms to deliver new revenue streams and improved operational efficiency to service providers.

Contact Tecnotree at marketing@tecnotree.com to know more. 

Tecnotree, established in 1978, is a publicly traded company from Finland and is an IT products provider to telecom service providers. With a large global presence and major global CSP clientele across all major geographies of Europe, LATAM, Middle-East & Africa and APAC, Tecnotree provides end-to-end products & services, including system integration and managed services. An early adopter of Open-APIs and microservices based approach, the company caters to the needs of operators of all sizes and has strategic partnerships with top global telecom service providers. List includes some of the largest as well as emerging service providers globally like MTN Group, Telefonica, stc, Claro AMX, Mauritius Telecom, B Mobile, and many other.