Dotsoft announced its financial results for 2023, which show strong growth, with a significant increase in sales and net profitability at rates of 115% and 103.5%, respectively. 2023 was another year of intense activity in Greek public works, as more than 40 new projects were completed.

In particular, the company managed to reinforce all its installations in terms of Smart Cities projects while, at the same time, signing subcontracts for major digitization projects that started in 2023. In this context, Dotsoft. achieved in 2023 strong growth in its working cycle, which reached €8.34 million compared to €3.84 million in the same period of 2022.

Earnings before taxes, financial results, and depreciation (EBITDA) amounted to €2.09 million, up 85% compared to €1.13 million in 2022 as a result of the increase in operating turnover.

Profit before tax increased in 2023 to €1.83 million from €983.8 thousand in 2022, while the corresponding profit after tax increased by 104% to €1.49 million from €729.0 thousand in 2022.

At the same time, the company achieved for another year a high gross profit margin of 37%, compared to 38% in 2022. In addition, there was a significant improvement in the company's total cash and cash equivalents, which increased by 189% to €1.90 million at the end of 2023 compared to €658.80 thousand in 2022.

Finally, the general liquidity ratio reached 2.55, compared to 2.69 in 2022. For 2024, the company expects that, provided that the general geopolitical and macroeconomic situation is not aggravated, it will continue at similar growth rates as in 2023 in the Greek public sector markets, with an emphasis on smart cities and digitalization projects.

The company's strategy for 2024 focuses on the following objectives:

-Launch and implementation of major projects in the smart cities sector, which are financed by the Recovery Fund.

-Strengthening the company's participation in international competitions involving European organizations in areas such as business intelligence systems and big data analysis, as well as projects with virtual and augmented reality technologies.

-Participation in smart city infrastructure projects covers the needs for specialized smart city applications and provides field engineering services.

Dotsoft closed the year 2023 with excellent results, confirming its strong market position with projects in the Greek public sector and digitization. This performance is the foundation for its continued growth and success in the future. The company intends to take advantage of new opportunities, continuing to be a leader in smart cities and digital transition, with a focus on excellence and innovation.