NOTÍCIAS

EBITDA margin reaches 14,9% in 1st Half 2018

 
During the first half of 2018 (1H18), Reditus pursued its internal reorganization, adjusting the spending structure to the new reality of the Group, and creating the conditions for the development of integrated, innovative and higher value-added offers, in order to fulfil the business plan based on the development of its core activities and the profitability of its business.
 
The 1H18 results hereunder are compared with those relating to the 1st half of the previous year (1H17). 
 
Operating Revenue reached 17.6 million euros in 1H18, or a 15,5% decrease against 1H17.
 
We assisted during this period to a contraction in revenues when compared with the same period of the previous year, due to Reditus’ strategy of not jeopardizing its margins and value creation in face of a very aggressive and competitive marketplace. 
 
Reditus has nevertheless been able to obtain new businesses from within its client portfolio, which present higher margins in spite of lower revenues, and has been able to renew contracts in the domestic market in the IT Consulting and BP Outsourcing segments. 
 
In the International Area 1H18 revenues, although presenting a 18.4% decrease from 1H17, maintained their relative weight in face of the overall Group revenues. 
 
The Group expects a positive development in the course of the forthcoming months, with several projects to be initiated abroad and an active pursuit of Nearshore project opportunities.
 
EBITDA reached 2.6 million euros, which corresponds to a EBITDA margin of 14.9%, or 2.7 pp above the 12.2% margin obtained in the same period of the previous year. 
 
The consolidated Net Income reached 60 thousand euros, a 6.4% decrease over the same period in 2017. 
 
 
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NOTÍCIAS

EBITDA margin reaches 14.5% in the first quarter of 2018

  • Operating Income of 8.8 million euros (vs. 10.2 million euros)
  • EBITDA of 1.3 million euros (vs. 1.3 million euros)
  • EBITDA Margin 14.5% (vs. 12.7%)
  • Net Income of 119 thousand euros (vs. 109 thousand euros)
  • International Sales represent 39% of the total (vs. 37%)
     
1. Summary of the Activity
 
During the first quarter of 2018 (1Q18), Reditus continued the internal reorganization, adjusting its spending structure to the new reality of the Group, and creating the conditions for the development of integrated, innovative and higher value-added offers, in order to follow the business plan based on the development of its core activities and the profitability of its business.
 
The results in 1Q18, presented below, are compared with the figures for the first quarter of 2017 (1Q17).
 
Operating Income amounted to 8.8 million euros in 1Q18, reflecting a 13.8% decrease compared to 1Q17.
 
In the period under review, there was a contraction of income in relation to the same period of 2017, mainly in the ITO segment, due to a very aggressive and competitive market, and Reditus' strategy of not harming its margins and creating value.
 
However, in 1Q18 Reditus was able to raise new business in its customer portfolio and renew existing contracts in the domestic market in the segments of IT Consulting and BP Outsourcing.
 
In the international area, income in 1Q18, despite a decrease of 8.3% over 1Q17, increased its weight relative to the Group's overall income, from 37% to 39%.
 
For the coming months of 2018, the Group expects positive growth in the domestic market and anticipates the beginning of several projects in the international market, and will continue to actively seek opportunities in Nearshore projects. 
 
EBITDA was 1.3 million euros, equivalent to an EBITDA margin of 14.5%, 1.8 pp above the 12.7% margin reached in the same period of last year. 
 
Consolidated Net Income amounted to 119 thousand euros, an increase of 8.5% over the same period of the previous year.
 
 
 

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NOTÍCIAS

Reditus increases customer satisfaction level

Satisfaction surveys carried out by Reditus with its customers showed a growth in the satisfaction level, reaching a value of 8.5 (out of 10) in 2017.

The results of Reditus customer satisfaction surveys and interviews show that, in addition to having high levels of satisfaction with the services provided, Reditus has managed to sustain service levels at a high level in consecutive years.

 

The average level of customer satisfaction of Reditus in 2017 was 8.5 (out of 10). This value results from a weighted average considering the results by the various Business Units.

From the evaluation factors, Reditus customers highlight the following elements as main competitive aspects:

  • Flexibility and availability in meeting present and new requirements;
  • Proximity and ease of contact with project managers;
  • Commitment and competence of the teams;
  • Compliance with the service levels.

Reditus is aware that its Customers are one of the most important factors for the success of its activities. To the increased level of satisfaction contributed, in a decisive way, the value generated by Reditus to improving the efficiency of its customers' business. This aspect will not naturally be alien to the whole effort put by the company in growing a relationship of trust with its customers and employees. For this reason, during 2017, Reditus continued to carry out improvement activities that allowed it to maintain excellent levels of customer satisfaction, efficiency enhancements and external recognition, as illustrated by the results of its Customer Satisfaction Assessment survey.

 

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NOTÍCIAS

Reditus’ EBITDA increases 76.9% in 2017

  • EBITDA of EUR 4,9 million (vs. EUR 2.8 million in 2016)
  • EBITDA margin of 11.6% (vs. 6.1% in 2016)
  • Net Loss of EUR 1,6 Million (vs. EUR 2,9 Million loss in 2016)
  • Operating Revenue of EUR 42,0 Million (vs. EUR 44,9 Million in 2016)
  • International Sales represent 46% of total (vs. 39% in 2016)
 
1. Summary of the Activity
 
The 2017 results show a continued good operational performance of the Reditus Group, representing a significant improvement over the previous year.
 
Reditus Group’s main performance indicators register a remarkable evolution compared to the previous period, as evidenced by the positive variation registered in the EBITDA that reached approx. 4,9 million euros in 2017, against 2,8 million euros in 2016. The Net Income remained nevertheless negative at 1,6 million euros, despite representing a positive variation of 1,3 million euros relative to the previous year. This result was negatively influenced by non-recurring factors, namely Losses relating to Provisions and Impairments amounting of 0,8 million euros, and Net Present Value of Customer Receivables amounting to 0,8 million euros.
 
The successful strategy followed by the Group, comprising an internal reorganization and a focus on core activities - centred on innovative and higher value added offers – have, together with on-going efforts on rationalization of operating costs and overheads, afforded an increased profitability of the business and explains the positive evolution of the results. 
 
Although Operating Revenue shows a 6.3% decrease to 42,0 million euros - compared to 44,9 million euros in previous year – the improvement in contribution margins of the different Group operations lead to a 76.9% YOY increase in EBITDA.
 
The revenue contraction derives mainly from the BPO segment of the Client Services sector, and reflects the term of a large contract from the previous year and which the Group has consistently been replacing for others of equivalent value and increased profitability. We were as a result able to obtain several contracts from within our installed customer base, both new and renewals of existing contracts, and also to acquire new clients, all of which will contribute to better results of the BPO segment through the coming periods. 
 
The IT Consulting sector was the main contributor to the Group's improved results, showing positive growth in both Revenues and EBITDA, with new clients and renewals of existing contracts in the domestic market.
 
Revenue for the International Sector registered a growth of 9.9% YOY, with its weight increasing from 39% to 46% relative to the Group's overall Revenue. The strategic commitment to the African market, with a focus on the three geographies where the Group has subsidiaries namely Angola, Mozambique and Equatorial Guinea, has led to a growth in business volume due to the beginning of new projects and to the continuation of those where the Group has already an on-going history.
 
The Group expects to continue actively searching for new international market opportunities in those geographies during the coming months, as well as for Nearshore projects, with the aim at consolidating its business growth.
 
EBITDA reached 4,9 million euros, equivalent to an EBITDA margin of 11.6%, or 5.4 pp above the 6.1% margin reached in the previous year.
 
Net Income from Continued Operations was negative and amounted to 1,6 million euros, an improvement of 1,1 million euros over the previous year when a negative value of 2,7 million euros had been registered.
 

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NOTÍCIAS

Reditus’ EBITDA increases 50.5% in first nine months of 2017

  • Operating Revenue of EUR 31,5 million (vs. EUR 33,9 million in 9M16)
  • EBITDA of EUR 3,9 million (vs. EUR 2,6 million in 9M16)
  • EBITDA margin 12.5% (vs. 7.7% in 9M16)
  • Income from Continued Operations of EUR 92 thousand (vs. negative EUR 1,4 million in 9M16)
  • International Sales represent 40% of total (vs. 35% in 9M16)
 
1. Summary of the Activity
 
The first nine months of 2017 (9M17) show a persistent good performance of the Reditus Group and represent a significant improvement over the same period in 2016 (9M16).
 
The successful strategy followed by the Group subsequent to the sale of the former subsidiary ROFF, comprising an internal reorganization and a focus on core activities - centred on innovative and higher value added offers – have, together with on-going efforts on rationalization of operating costs and overheads, afforded an increased profitability of the business and explains the positive evolution of the results for the first nine months of the year (9M17).
 
The Operating Revenue shows a 6.9% decrease to 31,5 million euros - compared to 33,9 million euros in the same period – the improvement in contribution margins of the different Group operations lead to a 50.5% YOY Group EBITDA increase.
 
The revenue contraction derives mainly from the BPO segment of the Client Services sector, and reflects the term of a large contract from the previous year and which the Group has consistently been replacing for others of equivalent value and increased profitability. We were as a result able to obtain several contracts from within our installed customer base, both new and renewals of existing contracts, and also to acquire new clients, all of which will contribute to better results of the BPO segment through the coming periods.
 
The IT Consulting and IT Outsourcing sectors were the main contributors to the Group's improved results, showing positive growth in both Revenues and EBITDA, with new clients and renewals of existing contracts in the domestic market.
 
Revenue for the International sector registered a growth of 5.3% in 9M17, increasing its weight from 35% to 40% relative to the Group's overall Revenue. The strategic commitment to the African market, with a focus on the three geographies where the Group has subsidiaries namely Angola, Mozambique and Equatorial Guinea, has led to a growth in business volume due to the beginning of new projects and to the continuation of those where the Group has already an on-going history.
 
The Group expects to continue actively searching during the coming months for new international market opportunities in those geographies, as well as for Nearshore projects, with the aim at consolidating its business growth.
 
EBITDA reached 3,9 million Euros, equivalent to an EBITDA margin of 12.5%, or 4.8 pp above the 7.7% margin reached in the same period of last year.
 
Net Income from Continued Operations amounted to 92 thousand Euros, an increase of 1,5 million Euros over the same period of the previous year, when a negative value of 1,4 million Euros had been reached.
 

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