In Q1 of this year, Atende Group recorded an insignificant net loss which was, however, predicted earlier by the Management Board. Relatively poorer Q1 results are usually the consequence of the sales seasonality.
The Atende Group incurred net loss of PLN 1,378 thousand in Q1, as compared with net profit of PLN 272 thousand generated in the corresponding period of the previous year. The consolidated revenues also decreased, by 21% y/y, and amounted to PLN 28,745 thousand. At the same time, both on a stand-alone basis and in the consolidated account, the Issuer produced high positive net cash flows of PLN 4,160 thousand and PLN 6,252 thousand. These values significantly exceed the level of cash flows recorded in Q1 2012.
′We are aware that the presented results are unsatisfactory. Due to the seasonal nature of sales, revenues in the first quarter are usually the lowest in a year. We believe that, unless unfavourable market conditions materialise, we should easily compensate for the first quarter loss in future periods,′ says Roman Szwed, President of the Management Board of Atende S.A.
The Issuer is firmly committed to a balanced participation of four major sectors of the market in earned revenues, which should provide more security and stability, especially at the time of economic instability. In Q1 of this year, the highest revenues were generated by clients from the telecommunications and media sector whose share in total Group revenues amounted to 37%. During the aforesaid period, the largest increase (by 28% y/y) was generated in terms of sales to the industry, trade and services sector clients, within which the energy market is of the major and growing significance.
The Company pays special attention to the increase in sales of subscription services. These are mainly services in the cloud computing model as well as outsourcing and maintenance services. It is worth noting that the percentage of revenues from subscription services in relation to total revenues was 23% in Q1 of this year, while the percentage of sales margin was higher and stood at 44%. It is the amount of the sales margin that determines the financial result generated by the Company; hence, recording such a high share of the margin on subscription services, or those which may be categorised as stable and recurring, should be regarded as the Issuer’s significant success.