Profile Group recorded a 29% increase in EBITDA and a 71% increase in net profitability during the first half of 2024, while it also recorded an increase in all Key Performance Indicators.
According to the company, the significant progress recorded relates to all of the group's business areas and is largely due to the introduction of new, innovative solutions, which, combined with significant upgrades to existing ones, are driving the group's strong growth, both within and outside the borders. "The ongoing take-up of new projects reflects its strong fundamentals stemming from the consistent preference of its customers," it noted.
In particular, at a consolidated level, Profile Group's turnover increased by 24% to €15.5 million, compared to €12.5 million in the same period of 2023. Earnings Before Interest, Taxes, Depreciation, and Amortisation (EBITDA) increased by 29% to €4.0 million compared to €3.1 million in the first half of 2023. Earnings Before Taxes increased by 61% to €3.0 million from €1.9 million, while Earnings After Taxes increased by 71% to €2.5 million from €1.5 million.
The Group's liquidity remained at very satisfactory levels, with total cash and cash equivalents at the end of the first half of the year at € 12.5 million. In addition, Profile Group maintained its financial strength, with a debt/equity ratio of 22% and a general liquidity ratio of 1.7x, as a result of effective working capital management, which ensures the uninterrupted financing of the Group's investment plan against the challenges of the volatile economic environment.
At the operational level, in the first half of 2024, Profile Group showed a dynamic performance, achieving new agreements and significant expansions of existing partnerships.
On a product level, Profile Group launched the new RegiStar solution, which offers integrated shareholder management, improving shareholder services. The solution is offered to a number of Greek listed companies and targets an international clientele. It is designed to operate on cloud infrastructure, leveraging the latest technologies and best practices, to provide advanced tools to the investor relations and shareholder service managers of listed or multi-shareholder unlisted companies.
At the same time, the Group presented its new, innovative AI solution, AI.Adaptive, which is functional with the Group's Fintech platforms and has already attracted increased interest from customers, revolutionizing the digital landscape. The solution simplifies natural language interaction with databases and applications, improving operational efficiency through the integration of AI technologies such as generative AI and large language models (LLMs).
Profile Group has also received significant accolades from prominent analysts such as Gartner, Forrester, IBS Intelligence, and other major industry bodies for the expertise and functionality of its products.
With regard to activity in the public sector, a number of projects undertaken are being implemented smoothly, and new, significant projects are expected to be undertaken. At the same time, the Group is constantly monitoring the projects tendered by the various public sector organisations and bodies in order to participate in projects of interest, either independently or as a member of an association of companies.
"The strong and ongoing development of existing solutions, the successful promotion of new solutions, the healthy financial position of the Profile Group, as well as the significant backlog, ensure the smooth implementation of the investment program and its objectives, enhancing the scope for further rapid growth," the statement said.
