on ITESOFT (EPA:ITE)
ITESOFT announces its 2023 annual results
ITESOFT, a European company specializing in automation solutions, has published its financial results for the year 2023, showing an increase in SaaS sales of 17% and an increase in consolidated turnover of 2%. The amount of new subscriptions led the ARR (Annual Recurring Revenue) to increase by 28%, reaching €6.7 million at the end of the year.
The company's EBITDA remains stable at €2.6 million, while the group's net profit has significantly improved, going from a loss of €0.4 million in 2022 to a profit of €1.1 million in 2023. This improvement in net income is notably due to a positive financial result and a favorable tax expense.
On the balance sheet side, ITESOFT continues to strengthen its financial structure, note a reduction in long-term financial debt and a slight drop in cash flow. The group will make its annual financial report available from April 26, 2024.
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