Tecnotree Posts Strong Growth in 2020 Despite Pandemic & Global Slowdown
2.3.2021 15:56:00 EET | 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.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210302005676/en/
Contact information
Padma Ravichander, CEO
tel. +97 156 414 1420
www.tecnotree.com
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
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
FlexGen Launches International Operations, Delivering Software and Services to Meet Demand for Battery Storage in Europe17.6.2026 15:00:00 EEST | Press release
FlexGen Power Systems, LLC. ("FlexGen"), a leading battery energy storage solution and energy management software provider, announced today that it continues to grow its global business by building its presence in Europe to increase battery storage capacity on local grids, supporting energy reliability and affordability. FlexGen offers its energy management system, including power plant controls (PPC), analytics, and site-level supervisory control and data acquisition (SCADA), as well as services, such as lifecycle services, integration abilities, and data centre leadership, to the European market to improve operational performance, increase availability, and unlock greater returns for battery storage developers and operators. “As Europe faces rising energy prices, high curtailment rates, and rising demand from electrification, FlexGen’s advanced software and services will meet local grid challenges and solve for energy independence, reliability, and affordability,” said Mike Wallace,
Moody’s Launches Decision-Grade AI Skills for Major AI Platforms17.6.2026 15:00:00 EEST | Press release
Moody’s Corporation (NYSE: MCO) today announced the release of its first set of AI skills – purpose-built, platform-agnostic instruction kits that encode Moody’s analytical frameworks and connect AI agents to its decision-grade intelligence. Available across compatible AI platforms beginning with Microsoft 365 Copilot Cowork, Moody’s skills enable customers to execute complex analytical workflows through a single natural-language request, with outputs grounded in Moody’s proprietary ratings, research, and risk intelligence. “Moody’s is among the first financial data providers to deliver a full library of skills on an open standard, and today’s launch is just the beginning,” said Cristina Pieretti, Head of Digital Content and Innovation at Moody’s. “AI platforms are becoming the interface for financial decision-making, and the next phase of adoption will be defined by execution. Skills are how we encode Moody’s expertise into that execution layer.” Skills are emerging as the standard fo
Rehlko and Liebherr Partner on Strategic Capacity Expansion to Support Accelerating Data Center Demand for Resilient Power Solutions17.6.2026 15:00:00 EEST | Press release
Rehlko, a global energy resilience leader delivering innovative solutions across industrial energy systems, powertrain technologies, and home energy applications, joined Liebherr Group (“Liebherr”) on June 2 for the strategic capacity expansion ceremony at the Liebherr-Components facility in Colmar, France. This event marks a key milestone in the continued expansion of Rehlko’s strategic partnership with Liebherr and a significant step in scaling resilient power solutions for the next generation of digital infrastructure. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260617213506/en/ Liebherr and Rehlko celebrate the strategic capacity expansion of Liebherr-Components Colmar factory. From left to right: Brian Melka (President and CEO of Rehlko), Jan Liebherr (President of the Administrative Board of Liebherr-International AG), Pietro Iemmi (CEO Liebherr-Component Technologies AG), and further members of Rehlko’s and Liebher
Thredd and Sutton Bank Partner to Power U.S. Card Program Expansion for Global Brands17.6.2026 15:00:00 EEST | Press release
Thredd, the AI-first issuer processing platform, today announced a strategic partnership with Sutton Bank, a leading sponsor bank and card issuer for fintechs and embedded finance use cases. Through the partnership, Sutton Bank will serve as a BIN sponsor for Thredd clients seeking to launch and scale prepaid and debit card programs in the United States. The partnership strengthens the U.S. market proposition for global fintechs and embedded finance providers by providing these organizations access to an established U.S. issuing bank partner with a long-standing track record supporting card programs across the fintech ecosystem. Sutton Bank has become widely recognized for its payments business, including its work with card networks, processors and program managers, as well as its role as a large BIN sponsor for the fintech community. Together, Thredd and Sutton Bank will support companies looking to bring modern prepaid and debit card programs to market across the U.S. Thredd will pro
FEINDEF 27 Accelerates Commercialisation, Surpassing FEINDEF 25’s Total Exhibition Area by 25% With One Year to Go17.6.2026 14:41:00 EEST | Press release
One year ahead of FEINDEF 27, FEINDEF, Spain’s International Defence and Security Exhibition, continues to maintain a strong commercialisation pace, outperforming previous editions at the same stage. The exhibition has already surpassed the total exhibition area occupied at FEINDEF 25 by 25%, reflecting the strong interest across the sector in participating in the next edition and reinforcing its appeal amid the continued growth of the defence and security industry. Organised by the Fundación Feindef, the exhibition will hold its fifth edition from 18 to 20 May 2027 at IFEMA Madrid, with the objective of consolidating a new phase of growth and strengthening its position as a leading international platform bringing together institutions, industry stakeholders and professionals from across the defence and security ecosystem. In this context, FEINDEF 27 is expected to exceed 89,000 m² of total exhibition area, representing a 46% increase compared to FEINDEF 25 and expanding its capacity t
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