Athens, 3 March 2022: Profile Software, an international financial software provider, makes a pre announcement of the Group's financial results for the Year 2021, which demonstrate a remarkable increase of 34% in sales and more than double figures in profitability as a result of the accurate implementation of the company's business plan.

More specifically, at a consolidated level, the Group's turnover amounted to € 20.12 mn compared to € 15.04 mn in the respective period of 2020, due to the assignment of new projects, the existing customers loyalty preference, as well as the successful acquisition of Centevo, a leading software company of Asset/Fund Management solutions in the Nordics, which products have successfully been integrated in Profile's product portfolio making them available to all markets.

The Earnings Before Interest, Tax, Depreciation, and Amortization (ΕΒΙΤDΑ) increased by 30% compared to the respective period the previous year, amounting to € 5.5 mn compared to € 4.2 million in 2020, while the EBITDA margin was maintained at the satisfactory levels of 27.3%. Earnings after tax increased by 143% reaching € 2.2 mn from € 906 thousand in 2020.

It is noted that the revised EBITDA of the group, excluding extraordinary and non-recurring events (such as the accounting entry of the stock options plan for the group executives), amounted to € 5.7 mn in 2021 compared to € 4.6 mn in the respective period of 2020. The revised comparable profit after taxes amounted to € 2.9 mn from € 1.6 thousand, without the charge of depreciation arising from the book value of the intangible assets of Login and Centevo on the day of their acquisition.

The Group's liquidity remains at a satisfactory level with total cash and cash equivalents amounting to € 15.6 mn and net cash at € 8.8 mn,

At an operational level, in 2021, the Profile Group demonstrated dynamic growth contributing to the result achievements, based on specific set actions. Such as the acquisition of the Scandinavian company Centevo, which has more than 65 customers in the Nordics, the introduction of new solutions for the banking sector which offer highly competitive advantages, as well as new implementation contracts amounting to € 13 mn, from 23 organisations across 11 countries, among others. At the same time, Profile Technologies is expanding by investing in personnel and infrastructure, launching new solutions and applications such as Finuevo, the mobile-first digital banking in-a-box platform, and more.

The Group Management having the flexibly to adjust despite the given situations expects based on backlog to reach new record high for 2022