Izertis increases its turnover by 12% during the first half of the year
We have already published our results revised by auditors regarding the first half of 2020, which reveal a 12.9 percent increase in the turnover figure compared to the same period the previous tax year, positioning it at around 24,414,730 euros. In turn, the standardised EBITDA was positioned at 1,895,953 euros, meaning an 11.14 percent increase compared to the first half of 2019.
Within the results, a12.83 percent reduction of net financial debt can be observed, which currently ascends to 16.3 million euros. A figure below 18.7 million euros in the previous month of June 2019, the point at which the analysis was carried out prior to the incorporation of the consultancy to the BME Growth (former MaB).
Meanwhile, upon closing this same period in 2020, the working capital has increased by 4.93 million euros, exceeding the 1.29 million at the close of the 2019 tax year, to sit at a current 6.22 million euros. This allows the company to face the coming future with “optimistic data and guarantees, despite the current global economic uncertainty due to the pandemic we are facing”.
“These results confirm the market support, which has been constant over these months, despite the Covid-19 crisis, increasing the share value from 4.08 euros on 2nd January, to 6.38 euros on 29th September. This entails an increase of 56.37 percent, and a capitalisation of 135.96 million euros”, states Pablo Martín, President of Izertis, at the official results presentation.
To date, four companies have been incorporated into the Izertis structure, to which new acquisitions will be made, set to be announced over the coming weeks.
In January the accession of BC Sistemas and the Ositel production unit was announced, reinforcing Izertis’s presence in the Unified Communications market. Both companies, with trajectories of over 25 years, added to the joint turnover of over 6 million euros in 2019, with branches in Madrid, Barcelona and the Canary Islands.
Both acquisitions came together to constitute Izertis Canarias S.L.U., which offers support to the rest of the consultancy branches. Specifically, this new office is a support hub for the business opening and development in Western Africa, along with the Cape Verde delegation.
June 2020 heralded the acquisition of the Madrid-based company SLA Consulting, which has been developing its activity since 2003, offering IT and business solutions to optimise processes for prestigious clients such as Naturgy, Carrefour, IBM, HP, Caser Seguros, Warner Bros and BMW. Among others, their services in Business Assessment, Project Management Officers (PMO), Enterprise Content Management (ECM) and Code Analysis are particularly outstanding.
Subsequently, in August the company announced the integration of Solid Gear Projects, with the aim of strengthening the software engineering department with a team of experts in developing apps for iOS and Android. Throughout its trajectory, Solid Gear has worked for major companies from European and North American markets, principally in the finance, technology, services and automotive sectors.
Prospects for the 2020 tax year
As the consultancy affirmed back in April, Izertis is envisaged to expand its turnover by 15 to 20 percent throughout 2020 in comparison to 2019, and to maintain an EBITDA margin of 10% over this figure.
Despite these estimations being made prior to the Covid-19 pandemic, Izertis maintains its growth prospects, thanks to the broad sectoral diversification of its range of clients and the market demand for IT solutions that adapt to the new situation triggered by the crisis.