Entersoft – Profits and revenues continue to rise

Entersoft continues to grow its revenue in the first nine months of 2021 compared to the previous corresponding period.

At Group level, revenues amounted to 17.39 million Euros compared to 11.61 million in the corresponding period last year, recording an increase of 50%. The pre-tax profits of the Group also increased at the same rate and amounted to 4.71 million Euros, compared to 3.15 million Euros in the corresponding period last year, recording an increase of 50%.

Most of the increase in revenue is due to organic growth for all products and services of the Group, while recent acquisitions have contributed to a smaller percentage. For the first time in the current nine months, the results from the acquisitions of Plexis ERP activity by the company Computer Life as well as the revenues of Optimum have been incorporated, while Wedia has been consolidated only for a period of six months.

The Group’s cash and cash equivalents continued to grow and stood at the end of the nine months at approximately € 10.54 million (€ 8.12 million in net cash, after deducting € 2.42 million in short-term borrowing).

The company will continue the effort for a strong growth course combining new acquisitions and organic growth. At the same time, it is planning a dynamic entry into new markets with investments in products that were recently decided by its Management. Specifically, investments have started, through the subsidiary Wedia, in new products for Business to Business eCommerce but also for demanding Business to Consumer (B2C eShops) in combination with the Backoffice CRM and Analytics products of Entersoft. At the same time, Entersoft is investing in a new product for Personnel Management, Timekeeping and Payroll and is preparing to enter this emerging market.