Global

    1-6/2021 Half-Year Report

    Solteq Group continued its strong, profitable growth in the second quarter. Measured by key indicators for the company, the quarter was the best in the company history. The growth was fueled by Solteq Software's Utilities business and Solteq Digital, which returned to a growth path due to the increased market demand for ecommerce solutions. The COVID-19 pandemic had a slight negative impact on customer acquisition and the launch of customer delivery projects in the tourism, restaurant, and leisure sectors.


    Solteq Group’s second-quarter revenue and profitability increased clearly relative to the comparison period. Solteq Group’s revenue increased by 22.6 percent and was EUR 18.5 million. Approximately four fifths of the growth was organic. The Group’s operating profit was EUR 2.4 million, up by 64.7 percent from the comparison period. The Group’s operating profit margin was 13.2 percent. The company’s EBITDA increased by 37.5 percent relative to the comparison period, amounting to EUR 3.7 million. Solteq Group’s EBITDA margin was 20.2 percent.


    Solteq Group’s business operations are organized into two segments: Solteq Software (software business) and Solteq Digital (services business). During the second quarter, Solteq Software segment accounted for just over one-third of the Group’s revenue, and Solteq Digital segment for just under two-thirds. Solteq Software accounted for 33.8 percent of the Group’s EBITDA. Revenue from foreign subsidiaries accounted for 21.4 percent of the Group’s revenue, which increased slightly relative to the comparison period.


    Both segments performed well in the second quarter. Solteq Digital returned to a growth path, as expected. The revenues in both segments increased relative to the comparison period – by 13.0 percent in Solteq Digital and by 44.6 percent in Solteq Software. Also, the profitability clearly improved relative to the comparison period, and the EBITDA increased by 41.1 percent in Solteq Digital and by 31.1 percent in Solteq Software. The second-quarter operating profit was up by 72.8 percent in Solteq Digital and by 43.0 percent in Solteq Software, relative to the comparison period.

    The business outlook for Solteq is good both domestically and internationally. Demand in Solteq’s key solution areas is expected to remain good during the second half of the year. The digital future affects everyone. Keeping up with the latest developments is therefore on the current and future agendas of companies of different sizes and in various sectors.


    Solteq-Olli-Vaatainen-2021-800x800


    CEO, Olli Väätäinen