Entersoft S A : Strong start – 1st Quarter 2021

Athens, May 6th 2021

After a successful year, despite the pandemic, Entersoft is making an impressive start in the first quarter of 2021 with a significant increase in both revenues and profits compared to the previous corresponding period. At Group level, revenue amounted to 6,375 million Euros compared to 4,192 million in the corresponding period last year, recording an increase of 52.1%. The pre-tax profits of the Group more than doubled and amounted to 2,592 million Euros, compared to 1,220 million Euros in the corresponding period last year, recording an increase of 112.6%. The results from the recent acquisitions of Plexis ERP and Optimum have been included for the first time, in the 1st quarter, while Wedia has been consolidated only for March. This increase comes both from the above acquisitions as well as from strong organic growth resulting from excellent performance in acquiring new customers for all the products and services of the Group (ERP, CRM, Enterprise Mobility, WMS, e-Commerce, Cloud Services). These achievements create a significant backlog of projects for the immediate future but also set the basis for the subsequent increase of the Group's annual recurring revenue. Furthermore, there is a notable growth of recurring revenue from annual new release but also from the subscription revenues of Software as a Service (SaaS) and electronic invoicing services (e-Invoicing).

The Group's cash equivalents continued to grow and stood at the end of the quarter at approximately 8.4 million Euros, despite the payments for the acquisitions so far and the extra dividend at the end of 2020. The Group remains until this day without any loans. The increased cash availability, in combination with the possibility of loan options, gives rise to new investment opportunities that management estimates that for the current year it can be up to 13-15 million Euros. The same growth mix will therefore continue with a combination of targeted acquisitions, strong organic growth and investment in new products and services with which Entersoft and its subsidiaries will increase the markets in which they operate.