Softline Group announced the achievement of historically record values for key financial indicators. The turnover of one of the leaders of the domestic IT market, Softline PJSC, reached 91.5 billion rubles in 2023, an increase of 29% compared to the same period in 2022.
- Gross profit amounted to 23.6 billion rubles, demonstrating almost double year-on-year growth. At the same time, around 60% of the gross profit structure came from the group’s highly profitable internal solutions. As a result, the gross margin reached 26%.
- adjusted EBITDA increased to 4.4 billion rubles in the 12 months of 2023, exceeding the 2022 level by 72%.
- Net profit set at 4.5 billion rubles, down from 6.5 billion rubles in 2022. The company attributed the drop to “last year’s high base associated with significant one-time gains from the revaluation of the fair value of financial instruments.” Another factor that limited net profit growth was the increase in interest expenses.
- Net debt of the group as of the reporting date amounted to 8.1 billion rubles: 1.8 times the adjusted EBITDA for 12 months of 2023, which is considered a comfortable level of debt load for Softline.
By the end of 2024, the company foresees an increase in turnover of at least 110 billion rubles, a gross profit of 30 billion rubles and an adjusted EBITDA of at least 6 billion rubles.
In 2023, Softline PJSC received public status by placing ordinary shares on the Moscow Stock Exchange and the St. Petersburg Stock Exchange, exchanged Noventiq GDR for Softline PJSC shares, and also carried out the fifth bond issue of Softline PJSC.
Author:
Anastasia Marina
Source: RB
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