Cuatroochenta met targets and continued to grow at an excellent pace in 2021 according to the results preview. The proforma net turnover of the technology company from Castellón increased by 27% compared to the previous year, to 15 million euros. The earnings preview also reflects an 11% rise in recurring EBITDA in 2021, specifically 1.8 million euros, which represents 12% of sales.
Proof of the good evolution within the sector is that Cuatroochenta’s annual increase in turnover is 24 points above the average of the top 100 technology companies in Spain, which, according to the “Special Leaders 2022” ranking published this week by Computing, is 3.7%.
These results endorse the M&A strategy which, together with the entry of Inveready during the last financial year, allows Cuatroochenta to lead the Facility Management solutions market in Spain and to position itself to do so in Central America, where it is already a benchmark in cybersecurity for banks and critical infrastructures. Thus, the acquisitions of the Barcelona-based companies FAMA and Matrix (whose figures are not included in the results as the operation was closed last February) have complemented and strengthened both its software offer for companies and institutions and the technical capacity of its team.
Preview of results 2021
In terms of the evolution of its valuation as a listed company on BME Growth, since its incorporation in October 2020, Cuatroochenta has created value for all its stakeholders. In terms of profitability, after accumulating in the IPO an oversubscription of 6 times the size of the offer, the share has risen by more than 97%. The debut price was €9.35, which represented a total valuation of €20.8 million and, 15 months later, it is trading between €17 and €20, representing a capitalisation of around €40 million.
Business based on product and “excellent organic growth”.
Cuatroochenta’s CEO, Alfredo R. Cebrián, stressed that these preliminary figures for 2021 “show that the company is beginning to see the results of the product-based business, characterised by its recurrence and improved scalability, although the cumulative and incremental effect will be much more visible in the coming years”.
He also emphasised that, apart from the growth in M&A operations, “organic growth is performing excellently and part of the investments are focused on improving in this line“. “Our cash generation capacity is also allowing us to accelerate reinvestment in R&D aimed at improving products and new launches, which will enable us to further expand our growth capacity in the medium term,” he added.