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
PNCC Selects LotusFlare to Power Digital BSS and Commerce Platform for New 4G/5G Standalone Network26.2.2026 14:04:00 EET | Press release
LotusFlare, a provider of a cloud-native, AI-driven digital commerce and monetization platform for communications service providers (CSPs), today announced that Palau National Communications Corporation (PNCC) has selected it to provide a comprehensive commerce and monetization platform, including a full-stack digital business support system (dBSS) as part of PNCC’s broader 4G/5G Standalone (SA) network modernization programme. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260226869218/en/ Palau National Communications Corporation (PNCC) The LotusFlare solution will support PNCC subscribers across mobile, fixed broadband, and digital TV services, while enabling unique multi-tenant capabilities aligned with PNCC’s long-term digital and regional strategy. PNCC has embarked on a comprehensive technology modernization program focused on increasing speed-to-market, enhancing customer experience, and long-term operational efficie
GoldState Music and Bridgepoint Announce Strategic Partnership Targeting Growth Investments26.2.2026 14:00:00 EET | Press release
Bridgepoint, one of the world’s leading mid-market investors, today announced that it has entered into a strategic partnership with GoldState Music, a premier music investment platform, committing a significant investment as lead investor in GoldState’s Growth Strategy. The capital will support a dedicated investment programme focused on building and scaling high-quality music-oriented businesses globally. GoldState Music is a private investment firm founded in 2022 by industry veteran Charles Goldstuck, who played an integral role in the development of many music enterprises as well as in the careers of numerous major artists and songwriters. The company’s Growth Strategy is focused on investing in and scaling growing businesses operating in the music value chain, combining deep industry relationships with institutional investment discipline and structured capital solutions. Under the strategic partnership announced today, GoldState will originate and actively manage the Growth Strate
Amazfit Introduces the Active 3 Premium: Turning Daily Movement into Meaningful Progress for Entry-Level Runners26.2.2026 14:00:00 EET | Press release
Amazfit, a leading global smart wearable brand owned by Zepp Health, today announced the Amazfit Active 3 Premium, a compact, 4-button smartwatch designed as an entry point into structured running and hybrid training. Made for athletes building consistency across different forms of training, the Active 3 Premium supports road running and hybrid routines that combine endurance, strength, and studio-based workouts. Its compact design makes it easy to train across environments, from neighborhood runs to studio floors, offering a capable, approachable experience without feeling overbuilt or intimidating. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260226378156/en/ Made for athletes building consistency across different forms of training, the Active 3 Premium supports road running and hybrid routines that combine endurance, strength, and studio-based workouts. Unlike high-performance racing watches that can feel overwhelming,
Kairos Pharma, Ltd. Announces Signing of Term Sheet for Strategic Asset Acquisition of Two Clinical Oncology Assets from Celyn Therapeutics26.2.2026 14:00:00 EET | Press release
Kairos Pharma, Ltd. (NYSE American: KAPA), a clinical-stage biopharmaceutical company focused on innovative cancer therapeutics, today announces the signing of a term sheet for a strategic asset acquisition with Celyn Therapeutics, Inc., a privately held biotechnology company backed by OrbiMed and Torrey Pines Investment. Under the proposed terms of the agreement, Kairos Pharma will acquire worldwide rights to two highly differentiated, clinical-stage oncology assets targeting non-small cell lung cancer (NSCLC): CL-273, a pre-IND, reversible, wild-type-sparing pan-EGFR inhibitor, and CL-741, a Phase 1-ready, orally available type IIb c-MET kinase inhibitor. John Yu, M.D., Kairos Pharma Chief Executive Officer, commented: "We anticipate this acquisition will significantly expand our oncology pipeline with late-preclinical and Phase 1-ready assets in a multi-billion dollar market with substantial unmet medical needs. With this acquisition, if completed, we will strengthen our armamentari
Wyss Geneva Spin-Off Clee Medical Secures Seed Financing to Bring Real-Time Vision to Brain Surgery26.2.2026 13:49:00 EET | Press release
The Wyss Center for Bio and Neuroengineering Geneva announced today the successful closing of the Seed financing round of Clee Medical SA, a Swiss neurotechnology spin-off developing ultra-high-resolution real-time intraoperative imaging for brain surgery. The round was led by High-Tech Gründerfonds (HTGF), with participation from Zürcher Kantonalbank (ZKB), Kickfund, FONGIT, and Venture Kick joining existing investors Wyss Center Geneva. Clee Medical spun-out from Wyss Geneva’s Minimally Invasive Intracranial Access (MICA) research project in December 2024. Its flagship platform, Neuro Access, combines OCT imaging with advanced navigation to help neurosurgeons visualize brain anatomy and critical structures in real time during stereotactic procedures. “Clee Medical not only holds the promise of improving patient outcomes but also highlights Wyss Geneva’s dedication to bridging the gap between scientific discovery and real-world impact.” Dr. Erwin Böttinger, CEO, Wyss Geneva “Neurosurg
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