Itesoft SA reported audited earnings results for the year ended December 31, 2017. For the year, the company reported revenue of EUR 25.8 million against EUR 25.8 million a year ago. The second half of 2017 was particularly dynamic, benefiting from the combined effect of accelerated software sales and new growth in recurring revenue. Operating income was EUR 2.9 million against EUR 0.9 million a year ago. The group share of net result was EUR 2.4 million compared to loss of EUR 0.2 million a year ago. The positive evolution of the company's product mix in favor of recurring maintenance and license revenue, combined with continued strong cost control over the period, enabled ITESOFT to post EBITDA growth of nearly 10%, amounting to EUR 3.7 million against EUR 3.4 million a year ago.

For the year 2018, the company expects software sales growth for license and SaaS models. The company is focusing its efforts on building software sales, notably in SaaS mode, while maintaining double-digit profitability.