Critical Communications Solution 'team on mission' Represents 66% of Total STREAMWIDE Business
STREAMWIDE (FR0010528059 – ALSTW – eligible for the French PEA-PME), the expert in critical business and communications software solutions, announces positive first half results and strong growth compared to the first half of 2022.
The increase in first half revenue, combined with the tight controlling of costs, primarily staff costs, resulted in increases of €0.8 million in EBITDA (up 21%) and €0.5 million in EBIT (up 44%). This confirms STREAMWIDE’s buoyant positioning and its sound financial structure, capable of absorbing cyclical fluctuations, enabling it to generate a high level of profitability.
STREAMWIDE recorded revenue of €8.4 million in the first half of 2023, up 3%.
The new team on mission and team on the run critical business and communications platforms, for which revenue rose by 4% to €5.6 million in the first half of 2023, still represent the Group’s main revenue source (66%) and will be major growth drivers over the coming years.
The mass roll-out of the PCSTORM project is currently underway, with the forthcoming deployment of the largest MCPTT platform in the world in terms of simultaneous end-users.
In the medium term, a large number of projects in France (team on the run platform and legacy businesses), Europe (team on mission platform business) and the United States (core and legacy businesses) are set to come to fruition in the coming months. However, STREAMWIDE states that the 2024 revenue is also dependent on the various operational schedules adopted for the various projects.
Although development projects in the public safety sector, and more generally the adoption of new- generation critical communications solutions, are expected to accelerate over time, the time variable remains an unknown and as such requires the Group to remain relatively cautious as to the level of full-year revenue it can anticipate for 2024.
In addition, 2024 is the year of the Olympic Games in France and the current challenge for the various players in the STORM and RRF projects is to roll out and maintain in operational conditions the largest MCx (critical communications) platform ever deployed in Europe, and probably the world. In this sense, the Rugby World Cup currently underway in France acts a dress rehearsal.
The platform technology developed by the Group has become a must for most major players in the sector. The Group has new financial resources (new loans taken out in March 2023) to further sharpen the technological edge of its solutions. Major technical investments will accordingly be made in the coming months to further strengthen the sovereignty, security, standards compliance (particularly 3GPP) and scalability of the solutions developed, while offering new features and increasing the end-to-end quality of their components (servers, mobile and web applications).
The Group therefore remains confident in its ability to maintain its profitable growth momentum, although this is still subject to the various schedules of the many projects currently underway and to the technical and organisational constraints facing customers/prospects.
The Group plans to continue investing technically in these solutions in order to respond effectively to its customers’ needs, while further developing its direct and indirect sales ecosystem to diversify its future revenue streams.