(Alliance News) - Olidata Spa reported Monday that it has reviewed preliminary accounts for 2023, reporting revenues of EUR100 million, doubled year-on-year.

Ebitda is forecast at EUR6 million, up from EUR1.9 million a year earlier.

"These results are the effect of the effectiveness of the strategic choices made by management in terms of business development, evaluation, selection and participation in public and private tenders, and to the subsequent awarding according to the quality and specialization in the services offered," the company said.

In addition, the board revised the 2023-2025 plan, extending it for the period 2024-2026.

Turnover is expected to go up by 7 percent a year in plan arc, reaching EUR126 million in 2026.

The specific and main strategic directions are to consolidate the group's current market positioning in order to make the most of opportunities in the ICT sector, which is characterized by higher growth rates than those of the economy and with prospects for sustained development in the medium term as well; to maintain a strong focus on the Infrastructure sector, with the aim of a change in the hardware-software mix of revenues in favor of the second category, characterized by higher growth rates; and to develop activities related to ICT services, which are characterized by higher margins and high growth rates.

Again, to increase activities related to the digital enabler segment, in particular, leveraging solutions in cyberSecurity, big data & analytics, artificial intelligence & machine learning, whose growth rates are expected to remain high even in the medium term; to expand and strengthen skills and operational capacity for in-house development of software and IT platforms; and to increase territorial presence in strategic areas where large infrastructure users, such as banks and insurance companies, operate, alongside a large pool of SMEs.

The development strategy also includes the possibility of growth by external lines through acquisitions of corporate shareholdings, companies and business units as well as business combinations, the implementation of which will be linked to market opportunities that will materialize from time to time; prudentially, no growth elements related to such possible operations have been reflected in the 2024-2026 plan.

The 2024-2026 business plan envisages a sustainable group investment plan aimed at strengthening its operational capacity, both through the purchase of software solutions useful for integrating and expanding the range of services offered to customers, and by developing its hardware infrastructure.

In addition, there is a renewed financial commitment aimed at supporting the implementation of proprietary solutions to support the most innovative areas of cybersecurity, big data & analytics, artificial intelligence & machine learning and software development. These investments will be financed by cash flow from operations, group cash and cash equivalents and, where necessary, through use of credit lines.

Cristiano Rufini, chief executive officer of Olidata, said, "The work and results achieved during the last financial year have seen such significant growth in group revenues and margins that, despite the complicated and persistent market conditions, they are the best way to represent us; an Italian company that aims to be in support of the country's growth in contexts that will be the new international confrontation grounds such as cybersecurity and artificial intelligence. We are proud and happy to be a group driven by such values."

Olidata's stock closed Monday up 1.0 percent at EUR0.52 per share.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

Comments and questions to redazione@alliancenews.com

Copyright 2024 Alliance News IS Italian Service Ltd. All rights reserved.