1 week Ago By Lauren Towner
September 23 2024 Profile Group has reported continued growth by presenting strong financial figures and achieving a significant increase in all Key Performance Indicators during the first half of 2024, including sales and after-tax profitability. The significant progress that has been marked concerns all areas of the Group’s activity and is largely due to the launch of new, innovative solutions, which, combined with the significant upgrades of the existing ones, lead to the Group’s strong growth, both locally and internationally. The continuous undertaking of new projects reflects its strong fundamentals, which stem from the steady preference of its clients.
At a consolidated level, the turnover of the Profile Group has marked an increase of 24% and amounted to € 15.5 million compared to € 12.5 million in the corresponding period of 2023.
Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) increased by 29% to € 4.0 million compared to € 3.1 million in the first half of 2023, Profit before Taxes increased by 61% to € 3.
0 million from € 1.9 million, while Profits after Tax increased by 71% to € 2.5 million from € 1.
5 million. The Group’s liquidity continues to be at satisfactory levels, with total cash at the end of the first half of the year at € 12.5 million.
In addition, the Profile Group maintains its financial strength, with a debt/equity ratio of 22% and a general liquidity ratio of 1,7x, as a result of the effective management of working capital, which ensures the seamless financing of the Group’s investment plan against the challenges of the volatile economic environment. On an operational level, in the first half of 2024 the Profile Group has presented dynamic progress by closing new agreements and achieving significant expansions of existing collaborations. On a product level, the Profile Group launched a new solution, RegiStar, which offers integrated shareholders’ management, enhancing Shareholders’ Registry Services.
The solution is available to a multitude of Greek listed companies while also targeting an international clientele. It has been designed to operate on cloud infrastructures, leveraging modern technologies and best practices to provide advanced tools to Investor Relations executives and Shareholders’ Registry Services of listed or multi-shareholder unlisted companies. At the same time, the Group launched its new, innovative Artificial Intelligence solution, AI.
Adaptive, which is fully functional with the Group’s Fintech platforms and has already attracted significant interest from clients, revolutionising the digital landscape. The solution simplifies natural language interaction with databases and applications, enhancing operational efficiency by incorporating artificial intelligence technologies such as Generative AI and Large Language Models (LLMs). Profile Group has also received significant distinctions from distinguished analysts such as Gartner, Forrester, and IBS Intelligence, as well as other major industry bodies and organisations, for the expertise and functionality of its products.
With respect to activity in the Public Sector, various projects are being implemented, while new major ones are expected to be undertaken. The Group is also constantly monitoring the projects announced by various organisations and bodies of the State to participate in projects of interest, either autonomously or through joint ventures. The strong and continuous development of existing solutions, the successful promotion of new solutions, the healthy financial position of the Profile Group, and the significant backlog ensure the seamless implementation of the investment plan and its objectives, strengthening the margins for faster growth.
Based on the above data, the Group’s Management estimates that it is steadily heading towards achieving this year’s goals, with a significant growth rate. Profile Software Funding Fintech Insurtech Fintech Insurtech.
