Entersoft reported a 12% increase in revenue in the first quarter, announcing its financial results for the first quarter of 2024. Management expects that in the following quarters the growth rate will strengthen as a result of the seasonality of revenues and the basis of comparison with the corresponding figures for 2023.

KEY FIGURES

Revenues of €11.3 million, up 12% compared to Q1 2023 (€10.1 million),

EBITDA of €4.3 million, up 9% compared to the same period last year (€3.9 million)

Profit before tax: €3.37 million, up 9% compared to the same period last year (€3.1 million)

Cash and cash equivalents of €12.3 million compared to €11.2 million at the end of last year's 2023 financial year and net cash of €4 million after deducting borrowings of €8.3 million

The Group's revenue growth in Q1 is organic and is considered satisfactory as it moved in line with expectations by implementing the budget. Of all the Group's activities, the highest growth is in e-invoicing services and ERP software.