Performance Technologies has published its 2023 audited financial statements and the Board of Directors' Management Report.

On a consolidated basis, turnover increased by 37.7%, amounting to €57,722 thousand. Gross profit increased by 36.7% to €17,673 thousand. Earnings before interest, taxes, depreciation and amortisation (EBITDA) increased by 37.4%, to EUR 7,151 thousand, while earnings before taxes increased by 40.4%, to €6,130 thousand.

In 2023, the Company achieved record revenues and profitability, accelerating the pace of growth across its business. As stated in an announcement, it continued to invest significant resources in R&D activities at the same level as in the previous fiscal year 2022 (in the order of 1.5 million euros) in order to enter new territories, develop additional skills, design new solutions and applications and address new markets, both nationally and internationally.

Human resources increased by 33 people (21% YoY), particularly in areas where the Company expects demand to intensify in the coming years: cloud services, DevOps & Automation, Analytics & AI, Advanced Observability. In addition, the cross-functional division for the Public Sector, created in the previous fiscal year 2022, was further strengthened.

In FY2023, the Company expanded its client base in the private sector, and extended its cooperation with existing customers in new areas. The Company also won tenders and/or project assignments from public entities such as the National Documentation Center, the Attica Region, the Hellenic Police, the Fire Department, the Ministry of Finance and the Information Society, while participating as a subcontractor in the execution of various other projects.