News

2020,
_
turning
_
point
_
for
_
Cuatroochenta
_
as
_
turnover
_
doubles
_
to
_
€11.75M

BME Growth  ·  Inversores

In the year marked by COVID-19, the company exceeded its targets after the successful move to BME Growth and fulfilled its M&A plans: it doubled its proforma revenues in 2020 and its recurring EBITDA grew by 40%. “Cuatroochenta is ready for the next level thanks to a quality-oriented team”, announces the Chairman of the Board.

Cuatroochenta has managed to double its size and its capacity for further growth in a year of uncertainty. The 2020 financial results mark a turning point for the company which, with its successful incorporation into BME Growth and by fulfilling its integration strategy, has managed to exceed its objectives despite the coronavirus pandemic, thanks to the efforts of the team and the trust of its clients.

The pro forma results include the contributions of the companies acquired during 2020, the Barcelona-based Ekamat (Microsoft Gold Partner) and Sofistic Colombia (specialising in cybersecurity), as its inorganic growth strategy was very active after the bell rang last October. Thus, Cuatroochenta has reached 11.75 million euros in revenues in 2020 with a recurring EBITDA of 1.61, which represents a growth of 40%. These figures do not include Fama Systems, whose acquisition began in December and was completed in March, which at the unaudited close of the 2020 financial year had a net turnover of 2 million euros and an EBITDA of 0.8 million euros (43.8%).


Proforma results*

INCOMES
2020

11,75 million Euros

GROSS MARGINS
2020

8,61 million Euros
72% s/incomes

EBITDA
2020

1,61 million Euros
14% s/incomes

* Ekamat’s results are considered from 01/01/2020 and non-recurring expenses related to the incorporation to BME Growth and M&A operations are adjusted. **The results of Asintec and Sofistic from 01/01/2019 are taken into account.


“Turning point despite difficulties”

The CEO and co-founding partner of Cuatroochenta, Alfredo R. Cebrián, highlighted in the presentation of results that “2020 has been a turning point for the company as we expected”. Thus, Cuatroochenta’s sales figure at the end of 2020 was six times higher than only two years ago (2018). After making the leap to BME Growth on 22 October, with all the organisational and resource implications this entails for the company, Cuatroochenta has consolidated its position in the Central American market and especially in Colombia.

“Despite the added difficulties of the COVID-19 pandemic in the operation and the general emotional state of very high uncertainty, the company, thanks to the response of its team, has managed to double its size since 2019.”

Alfredo R. Cebrián (CEO and co-founder)

Cebrián also stressed that in 2020 “key investments have been accelerated for the future organic growth of the company, such as the development of its own products UareSAFE and USign, the sizing of the R&D department and the Data Science and Artificial Intelligence team”. Investments “with a vision for the future” which, together with the integration of the companies and their solutions into a single product suite and the global customer portfolio strategy, “will accelerate the company’s growth and consolidate the model in the coming years”, the CEO predicted.

“The market for technology companies is atomised, but we are not an aggregator of companies; our strategy for inorganic growth is to integrate unique companies, which contribute and complement us in terms of product and team”

David Osuna (CFO)

He also pointed out that “the recent acquisition of Fama Systems will allow Cuatroochenta to consolidate a leading position in the market for solutions aimed at the Facility Services and Facility Management sector, reinforcing its position in the textile and distribution industries”.

For his part, the Chairman of the Board of Directors, Vicente Montesinos, stressed that “these results show that Cuatroochenta is ready for the next level, with a team of 200 people focused on quality, its own product portfolio aimed at strategic sectors and the financial capacity and positioning to continue adding and integrating companies and profitable and scalable products”. The goal, “to become an international benchmark for our business software and cybersecurity products and services”.

“The results show that Cuatroochenta is now ready for the next level, to become an international benchmark for our enterprise software and cybersecurity products and services”

Vicene Montesinos (Chairman of the Board of Directors)