MILAN (AIMnews.it) - Relatech S.p.A., Digital Enabler Solution Companyand innovative SME listed on AIM Italia market (Ticker: RLT),("Relatech" or the "Company"), announces that today the Board of Directors of the Company, connected viaaudio conference, examined and approved the draft financial statements and the consolidated financial statements as of December 31, 2019.
Pasquale Lambardi, Chairman of the Board of Directors of Relatech, stated as follows: "The economic and financial results approved today are the result of a strategy focused on constant innovation: in a non-linear world, the more deterministic approaches are, the less effective they will be. Relatech has achieved technological leadership in the sector thanks to i) a model focused on targeted investments in research and development, today equal to about 21% of revenues, which generate a return on investment ofabout 50% and ii) a Cloud-based digital platform that allows our customers to have all the necessary frontier technologies at their disposal andallowsusto scale up EBITDAmargin by 27.4%. Thanks to thetechnological skills of our Company, also following the M&A operations completed over the years, our recurring revenues to date amount to 22% of revenues. Thanks to the substantial and predictable cash generation of our operations and the stock of securities available, we will be able to play an important aggregatorrolein the sector in 2020, without affecting our financial structure and without burdening our shareholders. Our targetsare companies that invest in research and development and offer innovative solutions, known as "digital enabler" technologies, such as cloud, augmented reality, artificial intelligence and cybersecurity, just to name a few".
Silvio Cosoleto, Vice President of Sales commented as follows:"Also in 2019 we continued with a growth trend that has always characterized us, thanks to two fundamental guidelines: i) the acquisition of companies in market sectors that we consider strategic, with the aim of diversifying and expanding our commercial offer and acquiring new unmanned market sectors; ii) the expansion of the offer of solutions and services with high added value based on RePlatform, thanks to which it is also possible to integrate skills in terms of know-how and technology of the acquired companies. Our competitive advantage lies in the uniqueness of the value proposition based on the proprietary platform RePlatform, the synergies on multiple levels with the companies belonging to the group and the ability to implement tailor-made Digital Solutions, which meet the different needs of Customers/Prospects in different market sectors".
Main consolidated results at 31 December 2019:
Value of Production: Euro 21.3 million, +43% (FY18, Euro 14.9 million)
Revenues: Euro 18 million, +36% (FY18, Euro 13.2 million)
50% of revenues from foreign customers
Recurring revenues: 22% of revenues, +148% (FY18, 12%)
Customer base up +48% FY18
EBITDA adjusted: Euro 4.9 million, +98.0% (FY18, Euro 2.5 million)
EBITDA margin adj 27.4%
EBIT Adjusted: Euro 4.3 million, +78.0% (FY18, Euro 2.4 million)
Adjusted NET PROFIT: Euro 2.9 million, +88.0% (FY18, Euro 1.6 million)
NFP net of the effects of IFRS16: Cash for €2.0 million (FY18, €1.1 million net debt as at 31/12/2018)
Investments in R&D 21% of Revenues
Cash Conversion Ratio: 85%
ROI 52% and ROE 34%
