H1 saw the Atende Group generate consolidated income from sales at the level of PLN 114,660, i.e. 23% better than in the same period last year. Therefore, the Group earned better (by 18%) gross profit (at the level of PLN 31,214 thousand), its EBITDA was higher by 121% y/y (PLN 3,791 PLN). The Group generated a relatively small net loss of PLN 1,024 thousand (as compared to PLN 1,795 thousand in 2017). Higher sales were reported by both subsidiaries (by 45% y/y) and the parent company, Atende (by 15% y/y).
The seasonality of our business is the reason why the first half of the year usually ends with weaker results. Therefore, in spite of a small loss in H1 2018 we anticipate good Group results for the whole year. Even today the rising contribution of our subsidiaries achieving good results and the portfolio of signed and potential contracts in the dominant company (to be executed in Q4) are the factors indicative of that - says Roman Szwed, President of the Management Board of Atende S.A.
Atende, the dominant company, achieved a better (by 28% y/y) gross result in sales. Our net profit of PLN 3,680 thousand was caused mainly by significant financial revenues (dividend payouts from the subsidiaries). Among subsidiaries, Sputnik Software, Atende Software and TrustIT had a positive impact on the results, while the impact of other companies was negative.
The telecommunications and media sector, which is a key market for the Group, accounted for the largest portion of the Atende Group’s sales in the 1st half of 2018. The increase in consolidated revenue on sales in the 1st half of 2018, as compared to the corresponding period of the previous year, was primarily due to the public sector, where revenue increased by PLN 19.4 million y/y (up to the level of PLN 19.4 million y/y). To a large extent, this increase was the result of Atende's projects for uniformed services, as well as projects implemented for local government units by Sputnik Software. In turn, in the 1st half of 2018 Atende Medica implemented mainly projects won in 2017, co-financed from EU funds, for the computerization of hospitals and medical facilities, and recorded an increase in sales.
One of Atende Group’s strategic goals is a significant increase of the share of sales of innovative propriety software and services based on that software in the total revenues and margins of the Group. Therefore, the recent successes of the Group in this field are quite encouraging – adds Roman Szwed:
In July 2018, Atende completed one of the first commercial implementations of the so-called durable medium solutions based on the block-chain technology in Poland. The implementation was carried out for TCUW (Toruń Shared Services Center) which provides shared financial, accounting, payroll and tax services for nearly 80 organizational units of the Municipality of Toruń. ChainDoc, Atende's proprietary block-chain-based solution, supports TCUW's goal by authenticating documents submitted by TCUW electronically, which reduces the need to use paper or implement other cost-intensive solutions.
The last half of the year was important for innovative projects also in subsidiaries. Atende Software carried out for TVN S.A. a project called Player+ BOX, delivering software for a STB class customer device (a set-top box). Phoenix Systems successfully completed the certification process for the smart gas meter developed for Apator Metrix, the largest manufacturer of gas meters in Poland and a leading one in Europe (with a view to selling the device in Italy). Energy Data Lab signed a three-year consortium agreement with Kantar Polska S.A. regarding the joint creation and sale of a product called "TGI smart" used to monitor consumption of goods with regards to more than 300 product categories and 3500 different brands in Poland. Company 2 Customer Care acquired its first customers, including Lotos, for the proprietary eCars software used for the management of the recharging infrastructure for electric cars, and it plans further expansion in foreign markets. OmniChip is finalizing works on the commercialisation of the proprietary integrated circuit protecting against card theft. TrustIT increased - as compared to the previous year - its revenue (by 20%) from the provision of modern IT outsourcing services (of permanent nature).
Atende S.A. is one of the leading IT companies in Poland, listed on the Warsaw Stock Exchange since 2012. It has been implementing technologically advanced IT projects for over 25 years. We specialise in providing IT infrastructure services, network integration, IT outsourcing, cloud computing and cyber security. As a Capital Group, Atende addresses its dedicated offer to telecommunications operators, public administration bodies, the medical sector, the energy sector and the financial industry.