- Preliminary figures show a rise in EBITDA of 51 percent to 18.5 million euros
- Transformation to a cloud company picks up speed
According to preliminary figures, its EBITDA reached a level of 18.5 million euros. This is around one and a half times the previous year’s result of 12.3 million euros (up 51 percent). Despite the restrictions on sales caused by the global COVID-19 pandemic, revenue continued to rise to 117.5 million euros, of which 110 million euros was generated by the CLOUD4RETAIL product platform. This raised EBITDA (earnings before interest, taxes, depreciation and amortization) to 18.5 million euros, equivalent to a 15.7 percent margin on revenue. This is an impressive display of the company’s success in achieving the goals of its efficiency and profitability improvement program.
Despite the restrictions, GK Software was able to acquire eleven new clients on four continents for its core solutions in the 2020 fiscal year. Additionally, three other existing clients decided to switch to CLOUD4RETAIL - OmniPOS in the past year. For the first time, a total of four customers are using the SaaS offering of our core solution CLOUD4RETAIL. Deutsche Fiskal was also extremely successful in attracting new clients, with more than 100 clients opting for its cloud solutions.
The most important development in the fiscal year was the conclusion of SaaS contracts with a minimum order volume of roughly 50 million euros, with terms ranging from three to ten years in most cases. In the classic license business, sales of around seven million euros were generated. For the Executive Board, this indicates a shift toward the cloud business, which it expects to account for an increasingly large share in the years to come.
The company’s complete report is due to be published on April 28.
