Cuatroochenta has increased its EBITDA by 96% year-on-year in the first nine months of 2023 to €1.59 million, according to BME Growth's third-quarter results report. This significant improvement in profitability is supported by revenue growth and cost containment, resulting in an EBITDA margin of 9.75% and confirming the progress committed to in the technology company's plans.
Revenues as of September 30, 2023, amounted to 16.34 million euros, marking a 25% increase compared to the same period the previous year. It's worth highlighting the evolution of organic growth, which improved by 20%, and ARR (Annual Recurring Revenue through subscriptions or renewable contracts), which reached 13.27 million euros, 3.37% more than in June 2023.
[RESULTS:3T/23]
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increase in EBITDA 3Q 2023 vs 3Q 2022.
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revenues 3T 2023
In this way, Cuatroochenta demonstrates its ability to scale its business model profitably, thanks to the investments in structure made in 2021 and 2022. This, combined with synergies generated between different business lines and the optimization of resources and processes, has resulted in a substantial improvement in EBITDA during the first nine months of the year.
This improvement has translated into higher cash generation, allowing us to maintain a healthy balance sheet structure and progressively reduce debt commitments with financial institutions. Furthermore, effective financial management has enabled the company to maintain very low financial costs, even in an environment of sharply rising interest rates.
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revenue since 2020
Evolution in Latam and new products
At the business level, the company continues its internationalization strategy, with a particular focus on Latin America, where it has already established a robust presence in cybersecurity through its Sofistic brand. The company's proprietary products for the facility management and facility services sector, Fama and CheckingPlan, are being rolled out through agreements with partners and participation in key trade fairs in the region, such as FACMAN in Mexico. Additionally, they have initiated the first awards recognizing best practices in the facility sector in Latin America, with Pfizer, Newmark, and Cirsa being the winners.
Ángela García, FAMA General Manager, participated in FACMAN Mexico.
Furthermore, the Business Management Software business line has introduced a new management platform for foundations and non-profit organizations, Ekafund. This platform joins the specialized verticals in the textile and distribution sector, already utilized by entities such as the Pasqual Maragall Foundation or the Spanish Heart Foundation. Fama has implemented an automated system that verifies the authenticity of Occupational Risk Prevention documentation in its Coordination of Business Activities (CBA) module and has incorporated other enhancements using artificial intelligence. Cuatroochenta plans to present these and other innovations to its main products in a special format during the first quarter of 2024.
«Cuatroochenta's evolution in the stock market will end up offering happiness to investors who trust in the project.»
