Izertis reaches 92 million in revenue and plans to exceed 250 million by 2027
The technology consulting firm Izertis has released its 2022 financial results on Wednesday, reporting total revenues of €92.2 million. This represents a 35.6% increase compared to 2021, and consolidates the growth acceleration shown in 2021 (+28.6%) and 2020 (+9.1%), wich is, a 90% increase over 3 years.
Regarding normalised EBITDA, the multinational company accelerated its progression to €12.1 million, which is 53.6% more than the previous year. This result was obtained due to a margin of 13.1% on revenue, which represents a record figure in its historical series.
"Our results clearly show that we have not only improved our revenues but also significantly optimised our operational processes to be more productive. This has allowed us to practically achieve the EBITDA objective that we had set in our 2020-2023 plan, one year ahead of schedule", has explained Pablo Martín, chairman and CEO of Izertis.
Likewise, the profit of the specialist in digital transformation processes has also increased compared to the previous year, growing by 57.4% to €3.7 million.
Financial structure and strength
With 2022 being a record year for acquisition spending, the company boasts a cash flow of €35.6 million, a multiplier of 8.6 times the €4.2 million reported just three years ago.
Its investment plan has received support from Crisae Private Debt Fund (Banco Sabadell), institutional investors like Metagestión, who joined Izertis' shareholder base during 2022, and independent financial firms such as JB Capital or GVC Gaesco, who have raised the company's target share price to €10.25 and €10.70 respectively. EthiFinance Ratings, a financial entity, has also granted the company a BB credit rating with a positive trend.
On the other hand, the company's executives and employees hold a position in the company of over 12%, making them the second-largest shareholders after the company's chairman and founder, Pablo Martín, who holds just over 55%. The firm's market capitalisation closed on Tuesday at around €200 million, up from the €36 million when it went public just over three years ago.
More than 250 million in 2027
In addition to its financial results, the listed company on BME Growth has announced its new Strategic Plan 2027, with the goal of reaching €250 million in total revenue and an EBITDA of €33 million by the end of that year.
An ambitious plan, but supported by a long track record of 26 years of uninterrupted growth in which we have successfully overcome the challenges we have set for ourselves
As the president has stated, "the results we present today allow us to consider the objective related to normalised EBITDA in 2023 fulfilled and lead us to focus on our new Izertis 2027 plan. An ambitious plan, but supported by a long track record of 26 years of uninterrupted growth in which we have successfully overcome the challenges we have set for ourselves".
"In 2022, Izertis has multiplied its revenues by ten times since obtaining €9.4 million in 2012", has explained the president. "Our financial strength, along with our ability to grow above the sector in a profitable and sustainable way, has allowed us to always present positive numbers to our shareholders throughout our entire history".