Streamwide announces sharp increase in earnings and operating profit
the expert in critical communications software solutions, today announces a sharp increase in first half earnings and operating profit margins driven by growth in revenue from its new team on mission and team on the run business communications solutions (“platforms” business) and efficient cost control.
The increase in first half 2020 revenue (up €1.4 million), resulting from the new critical business communications solutions (up €1.4 million or 51% and accounting for over 60% of Group revenue for the first half) had a direct positive impact on EBITDA (€3.6 million), which rose by €1.1 million (+45%) to €3.6 million.
Given the positive revenue trend seen so far in the second half of this year, the Group expects to achieve sustained growth in 2020 full-year revenue in line with the strong performance in 2019. Given tight management of costs, primarily staff costs, positive leverage should deliver a sharp improvement in full-year 2020 margins and earnings.
In the short term, the Group’s business does not seem to be affected by the prevailing global health crisis. The Group has successfully refocused on new strategic and fast growing markets. The team on mission (“MCPTT/MCx”) solution developed in-house is in the process of becoming a market benchmark, particularly in France and Europe where the number of ongoing projects with recognised market players (integrators, distributors, operators) illustrates the current dynamic.