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.