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
TrailRunner International Names Alden Mitchell as President of TrailRunner Sports17.3.2026 14:03:00 CET | Press release
Proven global business leader brings more than two decades of experience in sports, media, and technology with a track record of success at iconic brands including Uber, Viacom, Discovery, collegiate conferences, and Stanford University TrailRunner International today announced that Alden Mitchell has been named President of TrailRunner Sports, the firm’s global sports advisory business. Most recently Chief Operating Officer of Stanford Athletics, Mitchell will accelerate the growth and expansion of TrailRunner Sports, which was established to provide strategic business advisory and communications support to global sports clients spanning leagues, teams, conferences, educational institutions, ownership groups, athletes, investors, and brands. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260317576708/en/ Alden Mitchell, President of TrailRunner Sports Since its launch in 2023, TrailRunner Sports has seen significant growth
Qualcomm Increases Quarterly Cash Dividend and Announces New $20 Billion Stock Repurchase Authorization17.3.2026 14:00:00 CET | Press release
Qualcomm Incorporated (NASDAQ: QCOM) today announced that its Board of Directors has approved an increase in the Company’s quarterly cash dividend from $0.89 to $0.92 per share of common stock. This dividend increase will be effective for quarterly dividends payable after March 26, 2026, and will raise the annualized dividend payout to $3.68 per share of common stock. Additionally, the Board of Directors has approved, effective immediately, a new $20.0 billion stock repurchase authorization. The new stock repurchase authorization is in addition to the Company’s stock repurchase program announced in November 2024, which has approximately $2.1 billion of repurchase authority remaining. The new stock repurchase program has no expiration date. The timing of stock repurchases and the number of shares of common stock to be repurchased will depend upon prevailing market conditions and other factors. Repurchases under this program may be commenced or suspended from time-to-time at the Company’
Lwart Environmental Solutions Expands Long-Standing Relationship with Rimini Street, Consolidating Support for VMware and SAP to Regain Control of Licensing and Roadmap Decisions17.3.2026 14:00:00 CET | Press release
Brazilian oil re‑refinery avoids forced upgrades, stabilizes core systems and redirects IT savings toward business innovation Rimini Street, Inc. (Nasdaq: RMNI), the Software Support and Agentic AI ERP Company™, and the leading third-party support provider for Oracle, SAP and VMware software, today announced Lwart Environmental Solutions, one of the world’s leading oil re-refineries and industrial sustainability organizations, has expanded its long-time partnership with Rimini Street. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260317697393/en/ Lwart Environmental Solutions Expands Long-Standing Relationship with Rimini Street, Consolidating Support for VMware and SAP to Regain Control of Licensing and Roadmap Decisions By switching to Rimini Street for SAP and VMware support, Lwart has taken direct control of its software licensing, upgrade and technology roadmap decisions, eliminating vendor-driven timelines and cost es
Lenovo Partners with Eva Longoria to Launch Global Search for Business “Twins”17.3.2026 14:00:00 CET | Press release
Backing Every Business initiative pairs founders with mentorship, grants and AI-powered technology - because no small business owner should build alone.Eva Longoria is ready to be your “business twin;” entrepreneurs worldwide can apply to be mentored directly by her. Applications are open now. Lenovo today launches Backing Every Business, a new global initiative designed to close the support gap facing small businesses. In partnership with actress, entrepreneur and investor Eva Longoria, founders around the world can apply for grant funding, AI-enabled technology and one-to-one mentorship, including from Longoria herself. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260317068350/en/ Small and medium-sized businesses fuel the world’s economy, representing approximately 90% of all businesses, 70% of employees and 50% of global GDP, according to the World Economic Forum. Their impact is anything but small, yet many founders s
SLB OneSubsea Awarded Integrated EPC Contract for Deepwater Development17.3.2026 13:30:00 CET | Press release
Award adds to OneSubsea’s project pipeline and reinforces its standardized system design Global energy technology company SLB (NYSE: SLB) announced today that its OneSubsea™ joint venture has been awarded a multi-well, integrated engineering, production, and construction (EPC) contract by China National Offshore Oil Corporation (CNOOC). The contract encompasses 20 wells and covers the delivery of integrated subsea production systems for the deepwater Kaiping 18-1 field development in the South China Sea. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260317076557/en/ SLB OneSubsea will deliver standardized subsea production technology that includes dual electric submersible pump (ESP), gas lift and gas injection horizontal trees, manifolds, connectors, and control systems, along with installation and commissioning support. Under the contract, SLB OneSubsea will deliver standardized subsea production technology that includes
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