TECNOTREE
2.3.2021 13:58:07 CET | Business Wire | Press release
Tecnotree, the global provider of IT solutions for the telecom industry, has recently announced its Q4 and full-year 2020 financial results.
In a year that will globally go down in history as the year of pandemic and resultant economic slowdown, Tecnotree posts a different story. With a substantial 76% increase in net income and 48% EBIT growth, Tecnotree displayed strong resilience even during the most difficult times. The company struck the right chord for all the key metrics in 2020; and with 4 new clients and an Order-Book of more than €32 million, Tecnotree appears set to continue the growth momentum in 2021.
2020 year performance at a glance:
- Net sales grew by 12% to €52.8M (€47M)
- Net income registered 76% growth to €13.6M (€7.7M)
- Earnings Before Interest and Tax (EBIT) grew by 30% to €18.6M (€14.4M)
- Cash & Cash Equivalent showed a 138% growth at the end of the period
- Share price soared by 312% in the year
- Market Capitalization grew by 360% to 193Me (42Me)
- EPS grew to 5c from 3c
As per Helsingin Sanomat , a leading media publication in Finland, Tecnotree is one of the two stocks that gave more than 100% returns to the shareholders after Black Monday in March 2020, while the reputed financial publication Kauppalehti from Finland listed Tecnotree CEO as one of the top 3 CEOs among the companies listed on Helsinki Stock Exchange. This is a strong testament to the healthy financial performance that company has been delivering.
Tecnotree CEO Padma Ravichander states that “The years of investment in developing the futuristic products and agile delivery capabilities are paying off for Tecnotree. We finished 2020 with momentum and robust performance . In times when the industry is struggling to stay afloat, Tecnotree scaled new highs on every front. ”
She further adds, “Despite the pandemic and lockdown, Tecnotree pushed all boundaries and completed all its software deliveries remotely as per the schedule. This feat had been possible only because of our agile and customer-centric approach .”
The company continued to increase its global footprint with four new clients, namely Altice Dominicana & Red Digital in Latin America, STC in the Middle East, and TRAI Mobile in APAC. The company continued to deepen the partnerships with the existing customers too, including MTN & America Movil.
Going forward in 2021, the company is focused on investments in key areas like Artificial Intelligence and Machine Learning (AI & ML) enabled products, Robotic Process Automation (RPA), 5G monetization, and building a new Partnership Ecosystem Platform that will enable Communication Service Providers to increase their top-line.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210302005676/en/
Link:
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
FPT Named an OpenAI Select Partner6.8.2026 02:00:00 CEST | Press release
Global IT corporation FPT today announced that it has been named an OpenAI Select Partner within the OpenAI Partner Network. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260805503787/en/ FPT Named an OpenAI Select Partner The OpenAI Partner Network is a global program for partners to build, sell, and deliver AI solutions with OpenAI. It brings together partners with deep industry expertise, delivery capabilities, and customer relationships while equipping them with resources, enablement, and support to help enterprises adopt OpenAI frontier models and products and turn them into measurable impact. As an OpenAI Select Partner, FPT will continue working with OpenAI to help organizations build, deploy, and scale AI solutions responsibly and effectively. This work will help organizations get more useful work from every token and stronger performance per dollar with GPT‑5.6, while using ChatGPT Work to turn ambitious goals into
U.S. FDA Approves Takeda’s ORZEYFUL™ (oveporexton), the First and Only Medicine to Treat the Underlying Cause of Narcolepsy Type 16.8.2026 00:10:00 CEST | Press release
Adults Taking ORZEYFUL Experienced Significant and Meaningful Improvements Across the Full Range of Symptoms of Narcolepsy Type 1 (NT1) in Clinical Trials Compared to Those on Placebo As a First-in-Class Orexin Treatment, ORZEYFUL has the Potential to Redefine NT1 Care Beyond Individual Symptoms Takeda is Advancing U.S. Launch Preparations and Expects to Make ORZEYFUL Available Following Completion of the Drug Enforcement Administration (DEA) Scheduling Process Takeda (TSE:4502/NYSE:TAK) announced that the U.S. Food and Drug Administration (FDA) approved ORZEYFUL™ (oveporexton), an oral orexin receptor 2 (OX2R) agonist, for the treatment of narcolepsy type 1 (NT1, narcolepsy with cataplexy) in adults.* The persistent 24-hour nature of NT1 is driven by orexin deficiency and can severely impact people’s lives. As a first-in-class orexin treatment, ORZEYFUL is the only medicine indicated in the U.S. to treat the disease holistically rather than individual symptoms. “The FDA approval of OR
Compass Pathways Announces New Employee Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)5.8.2026 22:30:00 CEST | Press release
Compass Pathways plc (Nasdaq: CMPS), a biotechnology company dedicated to unlocking urgently needed new treatment options in mental health care, announced today that Compass granted equity awards under the Compass Pathways plc 2026 Inducement Plan to fourteen newly hired non-executive employees. The equity awards were granted on August 3, 2026 and consisted of options to purchase an aggregate of 139,355 shares and restricted share units or, in the case of employees in the United Kingdom nominal cost options, covering an aggregate of 66,300 shares. The options have an exercise price per share equal to $11.25, the closing price of the Company’s American Depositary Shares on the Nasdaq Global Select Market on the grant date, and will vest over a four-year period with 25% vesting on the first anniversary of the date of the grant and the remaining 75% vesting in equal monthly installments over the three-year period thereafter, subject to each employee’s continued employment. The restricted
Clinilabs Announces Medical Leadership Appointments5.8.2026 16:05:00 CEST | Press release
Bob Dagher, M.D., Named Chief Medical Officer and Waqar Ahmed Siddiqui, M.D., Named Principal Investigator Clinilabs (“Clinilabs LLC”), a global, full-service contract research organization (CRO) specializing in central nervous system (CNS) drug and device development, today announced the appointments of Bob Dagher, M.D., as Chief Medical Officer and Waqar Ahmed Siddiqui, M.D., as Principal Investigator of the Company’s Eatontown, New Jersey Clinical Research Unit (CRU). Dr. Dagher will provide strategic and medical leadership across the organization, while Dr. Siddiqui will lead the execution of research projects at the Company’s CRU. Together, they will support the design, development, and execution of clinical programs for pharmaceutical, biotechnology, and medical device sponsors advancing innovative therapies for psychiatric, neurological, substance use, and rare CNS disorders. “Clinilabs has earned the trust of sponsors by combining deep scientific expertise, medical leadership,
Interactive Brokers Adds Brazilian Futures through Brazil’s B3 Exchange5.8.2026 16:00:00 CEST | Press release
Interactive Brokers (Nasdaq: IBKR), an automated global broker, today announced that eligible clients outside of Brazil can now trade Brazilian futures in addition to equities through the B3 exchange. Interactive Brokers was the first broker to provide international investors with streamlined, low-cost access to B3. Offering Brazilian futures and equities alongside products across more than 170 markets worldwide underscores IBKR’s commitment to broadening global market access and giving clients efficient, cost-effective ways to diversify through a single, unified platform. Access to B3 provides exposure to one of Latin America’s most active and liquid markets, providing long-term growth potential across multiple sectors and another way for investors to pursue emerging market opportunities. "Global investors deserve seamless, low-cost access to the world's most compelling markets, including emerging economies shaping tomorrow's financial landscape," said Milan Galik, Chief Executive Off
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom