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Heeros Oyj’s Business Review 1 January – 30 September 2021

Heeros Oyj’s Business Review 1 January – 30 September 2021

Revenue growth accelerated during third quarter -  Strong order backlog supports growth towards the end of the year

Profit for the period improved significantly in January–September and customer order intake (ARR) grew strongly in the third quarter.

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

July–September 2021 summary:

  • Revenue increased by 7% from the comparison period to EUR 2.3 million (7–9/2020: EUR 2.1 million).
  • Contract revenue increased by 14% to EUR 1.5 (1.3) million. Recurring revenue (contract and transaction revenue) increased by 5% to EUR 2.2 (2.1) million.
  • Customer orders, in terms of Annual Recurring Revenue (ARR), grew by 236% to approximately EUR 280 (85) thousand.
  • EBITDA remained on the level of the corresponding period last year, EUR 0.7 (0.7) million.
  • Operational cash flow (adjusted) grew by 57% to EUR 0.5 (0.3) million.
  • Combined EBITDA margin and revenue growth percentage (Rule of 40) was 36.8% (36.6%).
  • In September, Heeros launched the new Heeros Mobile App for business customers.

Find the release HERE.
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