Izertis increases revenues by 45% and ebitda by 64% in the first half of the year
The technology multinational Izertis closed the first half of the year with total revenues of 59.9 million euros, a 45% improvement over the same period last year. These figures confirm the acceleration of growth shown in recent years, with increases of 26% in 2021 and 30% in 2022.
As reported by the Spanish consulting firm after presenting its half-yearly financial statements, in terms of normalised ebitda, the improvement compared to the first half of 2022 achieved 64% to 9.0 million euros. As stated by Lourdes Argüelles, CFO of the company, "reaching this figure in the first 6 months of the year is particularly relevant, taking into account that the forecast we had published in our 2020 - 2023 strategic plan set a target for this year of 12.5 million euros of ebitda".
The normalised ebitda margin on revenues grew to 15%, doubling the figure in just three years, which "marks an all-time high and is the result of continuous optimisation in the efficiency of the company's operating processes and technological specialisation in the highest value layer services", according to Ms Argüelles. In this way, the company continues with the upward trend shown in recent years, in which it presented a 7.5% margin in 2020, 9.7% in 2021 and 13.3% in 2022.
La The BME Growth listed company has added two companies in the first half of 2023. On the one hand, Autentia, integrated into the group with the aim of increasing its position in the software engineering services market. In fact, this was the largest deal in the technology company's 26-year history.
And on the other, TechSociety, a company specialising in the combination of hardware engineering and digital products which, in the words of its financial director, "allow us to position ourselves as a very relevant player in the design, development and production of IoT(Internet of Things) and other hardware products, a line of activity with a growing demand in the market".
Solvency to exceed 250 million in 2027
The company's plans are to achieve 250 million euros in revenues by the end of the financial year 2027
However, irrespective of these investments, Izertis' cash flow remains at 26 million euros, i.e. four times higher than it was just three years ago. In this line, its net financial debt to normalised ebitda would decrease to 2.9 times, lower than in the same period of the previous year, which implies "a strong solvency position".
The company's plans are to achieve 250 million euros in revenues and 33 million euros in ebitda by the end of the financial year 2027.
According to the Spanish Consultancy Association (AEC), the annual revenue growth forecast for the sector is 7.65%, while Izertis has grown by 45% so far this year, almost 6 times higher than the sector as a whole. "Once again, we are facing an ambitious goal, but one that is backed by a long history of 26 years of uninterrupted growth in which we have solvently overcome the challenges we have set ourselves, supported by a corporate culture that keeps us in a permanent state of metamorphosis in order to continuously adapt to the market", Lourdes Argüelles remarked.