Heeros Oyj: Heeros first half financial report 2021

Heeros Oyj: Heeros first half financial report 2021

August 12, 2021

Sharp customer focus contributed to a 90% increase in orders

This is a translation of the summary of Heeros Oyj’s half-year financial report 1 January–30 June 2021, published today. The full report, including tables is available on the company’s website https://www.heeros.com/sijoittajille/tiedotteet/.

January–June 2021 summary

  • Revenue increased by 2% from the previous period to EUR 4.4 million (1–6/2020: EUR 4.3 million).
  • Recurring revenue (contract and transaction revenue) increased by 1% to EUR 4.2 million (4.1). Contract revenue increased by 7% to EUR 2.7 million (2.5).
  • Customer orders, in terms of Annual Recurring Revenue (ARR), were over 650 thousand euros, an increase of more than 90% compared to the same period last year.
  • EBITDA grew by 116% to EUR 0.7 million (0,3).
  • Adjusted operational cash flow was EUR 0.6 million (0.6).
  • Combined EBITDA margin and revenue growth percentage (Rule of 40) was 17.7% (9.6%).
  • During the review period, Heeros and a Finnish technology company Qvik signed a partnership agreement, to develop the best mobile experience in the industry for corporate customers.
  • Heeros maintains its outlook for 2021 unchanged: Heeros is expecting to increase the combined EBITDA margin (EBITDA, % of revenue) and revenue growth percentage (Rule of 40) to 30% level for the 2021 financial period.

April–June 2021 summary

  • Revenue increased by 6% from the comparison period to EUR 2.2 million (4–6/2020: EUR 2.1 million).
  • Recurring revenue increased by 5% to EUR 2.1 million (2.0). Contract revenue increased by 11% to EUR 1.4 million (1.3).
  • Customer orders, in terms of Annual Recurring Revenue (ARR), were almost EUR 370 thousand, an increase of more than 70% compared to the same period last year.
  • EBITDA was EUR 0.4 million (0,6).
  • Adjusted operational cash flow was EUR 0.2 million (0.4).
  • The combined EBITDA margin (EBITDA, % of revenue) and revenue growth percentage (Rule of 40) was 21.3% (24,4%).

Find the release HERE.