Net Income of 43 thousand euros in 1st quarter 2019
- Operating Revenue of 6.2 million Euros (vs. 8.8 million)
- EBITDA of 0.8 million euros (vs. 1.3 million euros)
- EBITDA Margin of 12,4% (vs. 14.5%)
- Net Income of 42.8 thousand euros (vs. 118.6 thousand euros)
- International Sales represent 32% of the total (vs. 39%)
1. Summary of the activity
The 1Q19 results hereunder are compared with those relating to the 1st quarter of the previous year (1Q18).
Operating Revenue reached 6.2 million euros in 1Q19, or a 30% decrease against 1Q18.
In the period under analysis, there was a contraction of revenues in relation to the same period of the previous year, mainly in the ITO segment which results from an aggressive and competitive market and Reditus' strategy of not compromising its business margins and creation of value.
This contraction was more significant in the ITC segment due to the delay in the start of large projects in the international area, namely in Angola.
In the international area, revenues in 1Q19 decreased by 8.3% compared to 1Q18, due to the delay in the beginning of projects. Its weight relative to the Group's overall income fell from 39% to 32%.
For the following months of 2019, the Group expects a positive growth in the domestic market and plans the start of several projects in the international market, while actively pursuing business opportunities in Nearshore projects.
EBITDA reached 0.8 million euros, which corresponds to an EBITDA margin of 12.4%, or 2.1 pp below the 14.5% margin obtained in the same period of the previous year.
The consolidated Net Loss reached 43 thousand Euros, a decrease of 63.9% over the same period of the previous year.