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
euNetworks launches new quantum-safe private connectivity service powered by Adtran’s encrypted optical transport technology27.5.2026 10:00:00 CEST | Press release
News summary: Developed by euNetworks to deliver the highest levels of protection for sensitive data moving between European data centers Built on Adtran’s solution, euNetworks’ new Quantum Shield service enables quantum-safe encryption across private high-capacity connectivity, with continuous optical and fiber plant monitoring The new offering supports regulated industries with strong assurance against current and emerging cybersecurity threats Adtran and euNetworks today announced their collaboration on the launch of a new quantum-safe private connectivity service, Quantum Shield. euNetworks has developed Quantum Shield using Adtran’s optical transport technology to augment its broader architecture, which is designed to deliver secure, scalable data center connectivity across euNetworks’ pan-European network. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260526610601/en/ Adtran’s encrypted optical transport technology is
National Bank of Greece in Cyprus Goes Live With Smartstream’s Air to Consolidate Reconciliations27.5.2026 09:55:00 CEST | Press release
Key Facts National Bank of Greece in Cyprus has consolidated four previously separate reconciliations systems – Instant, Cash, SEPA, and Nostro reconciliations – into a single platform using Smartstream’s Air Cash modules. Smartstream Air’s AI-enabled capabilities significantly reduce daily manual effort, eliminate the need to work with multiple data formats, and proactively identify data quality issues from both internal sources and bank statements. Successfully deployed in three months with no existing technology to replace; Smartstream developed a custom automated encrypted file transfer solution to meet the bank’s strict data security requirements. Smartstream, the trusted data solutions provider for leading global financial institutions and enterprises, today announces that the National Bank of Greece (NBG) in Cyprus has successfully gone live with Air, the company’s AI-enabled reconciliation solution. The go-live marks a significant step forward in the bank’s operational efficien
Duco Launches the First Agentic Operations Platform for Financial Services27.5.2026 09:20:00 CEST | Press release
Duco, today launched the first agentic Operations platform for financial services. Built on the engine that already processes 20 billion transactions every month for more than 200 clients, including seven of the top 20 banks and ten of the top 20 asset managers, the platform brings together everything firms need to run post-trade Operations alongside autonomous agents, safely and at scale. The launch establishes a breakthrough the industry has been waiting for. A tool surface, purpose-built for agents. Duco has unbundled its platform into a new alternative agent layer that reconfigures its platform into hundreds of discrete capabilities servicing post trade. Model Context Protocol (MCP) gives capabilities covering reconciliation, data preparation, data access, audit trails, exception management, document creation and more. For the first time, agents have a verified, deterministic toolset built specifically for post-trade. Agents do not replace matching, rules or audit; they use them. P
Brenus Pharma Announces FDA Acceptance of IND Application for STC-1010 (BreAK-CRC001) in MSS Metastatic Colorectal Cancer (mCRC)27.5.2026 08:49:00 CEST | Press release
STC-1010 is a first-in-class allogeneic in vivo immunotherapy for which the FDA has authorized clinical evaluation in the U.S. under the BreAK-CRC001 study. This strategic milestone enables the company to execute a global clinical strategy following European regulatory approvals (ANSM, AFMPS), first patients dosed with preliminary results and good tolerability observed in early Phase Ia. First data are expected to be presented during ESMO annual congress 2026. Brenus Pharma, a clinical stage biotechnology company developing novel in vivo immunotherapies for solid tumors, announced that the U.S. Food and Drug Administration (FDA) has accept the company's Investigational New Drug (IND) application for its first drug candidate, STC-1010, in microsatellite stable (MSS) metastatic colorectal cancer (mCRC). STC-1010 is designed to address a critical unmet need worldwide. Approximately 95% of mCRC patients have MSS tumors, which demonstrate minimal response to standard immunotherapies. The FD
Tide Crosses 2 Million Members Worldwide - Big Step Forward in Mission to Support and Grow Small Businesses27.5.2026 08:00:00 CEST | Press release
Continuing to grow in the UK and internationally, with India seeing especially strong member growth in the last 12 months In the UK, Tide has 15% market share and has helped small businesses access over £1.75bn in credit Rapid roll out of products; from admin, accounting and tax tools; subscription options; payment solutions; government registrations; bill payments and credit Tide, the UK’s leading business management platform, today announces it has crossed 2 million members globally, with India in particular seeing strong growth. More than 1.1 million small businesses joined Tide in India since the company launched there in December 2022. This makes India Tide’s fastest-growing market by member acquisition. The UK is Tide’s home market, with 900,000 SMEs, 15% market share, and the majority of the company’s revenue. Tide’s steadily expanding its presence in Europe, with Germany and France, where the platform is gaining strong traction, thanks to millions of small businesses turning to
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