Izertis disposes 66 million euros to develop its business plan
Our consulting firm announced this Wednesday the result of the capital increase without preferential subscription rights announced last week. In total, practically all of the 3.8 million euros planned have been subscribed and paid out, at a unit price of 7.67 euros per share. This operation has made it possible to enter institutional investors who were unable to attend the capital increase with preferential subscription rights that took place in December last year (5 million euros, at a unit price of 4.88 per share).
In addition, the issuance of convertible bonds with the Inveready group for an amount of 4 million euros has been registered in the Asturias Mercantile Registry. As a result of these operations, our firm would have a liquidity capacity and credit availability of 66 million euros, made up of 29 million of cash and equivalents, and 37 million of different undrawn lines of financing. This liquidity will allow the company to advance with guarantees in the development of its business plan, both organic and inorganic in the medium and long term.
“This capital increase and the operation with Inveready are one more example of the market's confidence in our 2020-2023 Strategic Plan. We are delighted to bring new institutional investors with a long-term vision into our shareholding. In addition, we have wide liquidity capacity to comfortably meet the objectives of our growth plan”, has pointed out Pablo Martín, president and founder of our corporation.
It is worth noting that, at the beginning of 2020, our company made public the objectives of its Strategic Plan 2020-2023, which contemplate reaching a turnover of 125 million euros, and a normalized EBITDA of 12.5 million.
4 integrations in the year
So far this year, our consulting firm has added four companies of recognized prestige in their respective segments to its project. The acquisition of the Catalan company 3Aside opened in 2021, with which it expanded its capacity to develop turnkey applications. The next to join was the Portuguese Rebis Consulting, known for being one of the leading players in the Portuguese country in the areas of Data & Intelligence.
The latest to join have been Globe Testing and Data Adviser, with a notable contribution to the catalogue of services in the specialties of testing, consulting, development in the cloud, management of facilities and infrastructures, and virtualization of servers and applications.
Sharp increase in the results of the first months of the year
This financing coincides with the publication by our firm, last week, of a preview of the results of the first five months of 2021, where it showed a strong 16.6% increase in its turnover, and above all, a normalized Ebitda that soared its growth to 51.2% compared to the same period of the previous year.