Reditus’ EBITDA reaches 3.2 million Euros in 3rd Quarter 2018
As previously reported, Reditus has been implementing a strategy for the development of integrated, innovative and higher added value offerings in order to enable the business plan based on the development of its core activities and the profitability of its operations, which should bring results in the short and medium term.
The internal reorganization of Reditus continued during the third quarter of 2018 (9M18), with an already tangible reflection in its offer propositions.
The 9M18 results hereunder are compared with those relating to the 3rd quarter of the previous year (9M17).
Operating Revenue reached 24.8 million euros in 9M18, or a 21,2% decrease against 9M17.
The contraction of revenues in relation to the same period results from Reditus' strategy of not compromising its margins and in the creation of value.
Reditus has nevertheless in the 9M18 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, 9M18 revenues maintained, despite a decrease of 20.3% compared with 9M17 due to delays in investment decisions for some projects in face of the slow economic recovery in these markets, its weight relative to the Group's overall income. We are proactively working in the marketplace and believe that the execution of several international projects in the ITO and ITC areas will be initiated during the next semester.
For the next quarters, the Group expects a positive growth with the planned start of several projects in the international market, while actively pursuing efforts to raise opportunities in Nearshore projects.
EBITDA reached 3.2 million euros, which corresponds to a EBITDA margin of 13.0%, or 0,5 pp above the 12.5% margin obtained in the same period of the previous year.
The consolidated Net Loss reached 422 thousand Euros, or a 514 thousand Euros aggravation over the same period in 2017.