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
SBC Medical Initiates Development of a DNA Methylation Test to Estimate Biological Age22.10.2026 15:00:00 CEST | Press release
Leveraging the Waqoo Group’s research and technology ecosystem to establish a new personal baseline for proactive health and longevity SBC Medical Group Holdings Incorporated (Nasdaq: SBC) (“The Company” or “SBC Medical”), a Medical Services Organization (MSO) providing management support across a wide range of healthcare fields, today announced that it has commenced in-house development of a test designed to estimate an individual’s biological age using DNA methylation analysis. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20261022474590/en/ SBC Medical Initiates Development of a DNA Methylation Test to Estimate Biological Age Development will be led by the Company’s AI and longevity-focused subsidiary, SBC AI Longevity Innovation, Inc. The initiative will leverage the regenerative medicine research and technology base established by Waqoo, Inc. (TOKYO: 4937), a consolidated subsidiary of SBC Medical, and its subsidiary Cel
Lenovo Expands AI Library with Proven, Validated Use Cases to Accelerate Business Outcomes and Drive Greater Value Per Token22.10.2026 15:00:00 CEST | Press release
New enterprise AI use cases and research findings show how organizations can move from AI experimentation to measurable value up to 24x faster1 while improving the economics of AISignal65 analysis shows how enterprise customers can lower cost per token by up to 70% at full utilization with on-premises Lenovo Hybrid AI Factories compared to hyperscale API pricing4 Lenovo today expanded the Lenovo AI Library with new, validated AI use cases, extending its portfolio of enterprise-ready solutions that can help organizations move from AI experimentation to measurable business outcomes up to 24x faster1 than custom-built implementations. Now available through the Lenovo AI Library, the added use cases provide proven starting points to accelerate AI deployments and realize returns from investments sooner. Alongside the expansion, new research conducted by The Futurum Group and Signal65 validates how Lenovo’s AI Library, infrastructure and services can help enterprises optimize AI economics fo
Follow-on Order Brings Orders from INNIO Data Center Customer to 1.72 GW, Further Strengthening INNIO’s Data Center Backlog and Revenue Visibility22.10.2026 14:30:00 CEST | Press release
Customer also signs long-term full maintenance agreement for first 500 MW, expanding INNIO’s recurring services base. INNIO N.V. (Nasdaq: INIO) today announced a 620 megawatt (MW) follow-on order from a leading developer and operator of mega-scale data center campuses in the U.S. Together with the customer’s 1.1 gigawatt (GW) order announced in July 2026, the new order brings cumulative orders from the customer to approximately 1.72 GW, further strengthening INNIO’s order backlog and visibility into future revenues. “This follow-on order, coming just months after the customer’s initial 1.1 GW order, underscores the strength of customer demand and continued confidence in INNIO. Our containerized Jenbacher solutions deliver what data centers need most: fast deployment, high power density, fuel efficiency, and the performance to support demanding AI workloads,” said Dr. Olaf Berlien, President and CEO of INNIO. “Repeat orders of this scale, combined with long-term service agreements, stre
European Public Transport Budgets Require 36% Annual Spending Increase by 2035, Arthur D. Little and Polis Research Finds22.10.2026 14:30:00 CEST | Press release
Europe’s public transport sector currently accounts for €130 billion in annual expenditure, yet faces a growing funding gap as demand rises and environmental and resilience requirements intensify. New research from Arthur D. Little (ADL)’s Future of Mobility Lab and POLIS, a network of European cities and regions collaborating to develop innovative and sustainable urban transport solutions, outlines the scale of this financial shortfall and provides radical recommendations for overcoming it. Based on research with senior transport and policymakers, in-depth literature reviews, and real-world data from Paris, London, Amsterdam, Berlin and New York, the report estimates that additional spending will require a 36% increase in overall annual expenditure from now to 2035 onwards. This is made up of a 13% rise in operating expenditure (OPEX) and 56% in capital expenditure (CAPEX), driven by: Hidden debt caused by historic underinvestment in existing infrastructure (6% of additional funding n
Hitachi Report Examines Readiness for Physical AI in Industrial Companies22.10.2026 14:00:00 CEST | Press release
AI adoption progress, trends, and emerging priorities suggest opportunities and challenges for physical AI acceleration Hitachi, Ltd. (TSE:6501, "Hitachi") announced the release of its physical AI survey-based research report, Beyond the Pilot: Industry’s Physical AI Progression. The company surveyed over 200 global decision-makers from organizations operating in mission-critical industrial sectors including energy, manufacturing, transportation and logistics. The report explores how businesses today adopt AI in industrial use-cases, where they see the greatest value, and what it will take to scale toward physical AI deployments. Readers will gain practical insights on how to accelerate AI adoption while improving competitiveness, productivity, and long-term business performance. After successfully transforming knowledge work, AI is now entering the physical systems that form society’s backbone: energy, industrial, and mobility infrastructure, to name a few. Given these systems’ reliab
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