Novabase net results up 2.4% to €8.9 million

The Portuguese software engineering solutions company Novabase posted net results of €8.9 million, up 2.4%

The company led by Luís Paulo Salvado this week posted its results for 2022 when its EBITDA grew 10% to €14 million and its margin on EBITDA fell 9.1% to 8.5%. Per segment, 65% was generated from the ‘NextGen’ and 35% from its ‘Value Portfolio’. Its share value is €0.29.

The variation on IRC of €-2.3 million compared to December 2021 reflects the fall in tax incentives for R&D (SIFIDE) registered.

Novabase’s financial results fell by €600,000 in one year, although discontinued operations brought in a €1.1 million increase essentially down to the sale of Collab.

Net was fell €16 million mainly due to shareholder dividends (€13 million) and an increase of working capital (€8 million).

Business turnover increased 18%, driven by a 25% growth in international operations of which represented 61% of the total business. International business grew 22%.

Listed on Euronext Lisbon and with offices in Europe and Middle East, Novabase has over 2,000 talented specialists.

Celfocus and Neotalent are the flagship companies of Novabase Group, with annual Revenues totalling nearly €140 million in 2021.

Celfocus delivers world-class services on cognitive and digital areas in more than 25 countries. Its solid track-record is grounded on strong engineering skills, the use of human-centric methodologies and an agile mindset.

Neotalent is expert in matching the right IT talent with clients’ specific needs and challenges. Focused on value-added services, Neotalent empowers businesses with the best technical expertise and a responsive way of thinking.