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Tecnotree Announces Second Quarter 2022 Financial Results

Business Wire via ITWeb,
ESPOO, Finland, 04 Aug 2022
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On Thursday, August 4, 2022, Tecnotree announced its financial results for the second quarter ended June 30, 2022. Tecnotree, the global Digital Business Support Systems (BSS) provider, reported a revenue of EUR 18.3 million in the second quarter, continuing its financial strength with considerable growth in MEA & APAC segments. 

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220804005494/en/

Consolidated highlights of the results of Q2 and Half Year 2022:

  • Net sales of EUR 18.3 million in the second quarter, showing 9% growth as compared to last year, and EUR 31.6 million for H1 with 13% growth from last year
  • Operating result of EUR 5.1 million in the second quarter, and EUR 7.1 million for H1
  • Earnings per share of EUR 0.01 in the second quarter, and EUR 0.02 for H1
  • Order book at the end of the period EUR 72.8 million, with 32.4% growth as compared to last year

Tecnotree CEO Padma Ravichander said, “Our customers have responded to our digital stack offering, with a strong order book for which we need to invest to deliver expeditiously. Despite rising costs due to external factors leading to thinner first-half net result margins, we continue to deliver new deployments to Tier-1 clients, which requires a greater initial investment. This investment today will ensure long-term recurring revenue over the next 3-5 years with our new customers by bringing stability. Our Digital Stack 5.0 is richer and capable of serving multiple markets and customers simultaneously.”

Other achievements for the second quarter:

  • Achieving the highest order book position of EUR 72.8 million - 32% higher than H1 in 2021, due to a surge in demand for Tecnotree products and solutions in the first half of 2022, with continued support from large tier 1 telecom groups such as MTN, STC, Zain, Ooredoo
  • Tecnotree digital BSS suite 5 went live for enterprise and consumer businesses for MTN Uganda, driving process agility and customer delight
  • Launch of digital transformation suite for MTN Ghana to meet enterprise market demand and deliver augmented customer experiences
  • Tecnotree Awarded as 'Change-maker of the year' by the Helsinki Stock Exchange Foundation, for being instrumental in driving growth in emerging markets with its 5G-ready digital products and solutions
  • Launch of 5G cloud-native Digital Provisioning Platform for Zain South Sudan, and another tier 1 operator in the Middle East. Tecnotree DSPS is a pre-integrated suite that enables a centralized system for all provisioning-related planning and task management
  • Tecnotree wins ‘MongoDB Independent Software Vendor (ISV) Partner of the Year - Telco’ for enabling customers to transition to new technologies and digital ecosystems
  • Launch of DOCS, a 5G Digital Convergent Charging Platform which supports existing and futuristic monetization requirements of CSPs across the verticals and industries
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