Atende Group's financial results after Q1 2015
In Q1 2015, the consolidated results were as follows: sales revenues totalled PLN 44,292 thousand (increase by 16% yoy) and gross profit from sales grew by 6% yoy and amounted to PLN 10,781 thousand. Company's standalone performance was even better: its revenues grew by 22% yoy and gross profit from sales went up by 21%. However, owing to higher fixed and financial costs, the Group's profitability levels were reduced. The consolidated EBITDA profit totalled PLN 430 thousand against PLN 1986 thousand in the previous year; and the Group recorded a loss in net result of PLN 1,459 thousand compared to PLN 54 thousand a year before.
Rise of fixed costs was mainly caused by the extension of sales departments and implementation forces at Atende, which aimed at scaling up the business and broadening the product range. Increase in costs had been planned and accepted as a result of intensified growth of the Group. Additionally, fixed costs went up due to the initiated consolidation of TrustIT, a newly purchased company, and the acquisition of Textus Virtualis.
′Over the last quarter we were able to substantially improve our revenues and sales margins. This undoubtedly confirms that we were right to make the effort and strengthen Atende's sales and implementation teams. The first quarter of each year usually gives rather poor results due to the seasonal character of sales. We believe that the achieved results are neutral for the success prospects for the entire year. We hope that throughout the upcoming quarters, the benefits of the changes introduced into the Group will by far exceed the costs borne for that cause′. - says Roman Szwed, President of the Management Board at Atende S.A.
It is worth mentioning that in Q1 2015, the Atende Group recorded improved sales in all market segments except for the public sector. The latter has seen a reduced number of tender procedures and lack of any larger contracts since last year. Nevertheless, the Management Board believes that the upcoming quarters should bring a revival in the public sector.
The entire report is available at the following website: http://www.atende.pl/en/investor-relations/financial-reports