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The exit to BME Growth in October 2023 has allowed the company to increase capital to continue investing in innovation, increase its capabilities in payment systems with the acquisition of the software company Dynamia, and boost the portfolio of offers, which has allowed reach 150.2 million euros of project portfolio in 1Q2024
Tres Cantos (Madrid), April 30, 2024.- The net result of Revenga Smart Solutions (BME:RSS) grows in 2023 in which it began trading on the BME Growth. The company closed the 2023 financial year with a net turnover of 36.37 million euros, an adjusted EBITDA of 4.20 million euros – the adjusted EBITDA corresponds to the EBITDA less the exceptional non-recurring expenses produced by the exit to BME Growth – and an adjusted net result of 604 thousand euros, 1.66% of the turnover, compared to 1.07% in 2022, which represents an increase of 20.53%. Adjusted EBITDA represents an increase of 0.39% compared to the same period in 2022, which highlights the improvement in project management and efficiency, a key objective for RSS, achieving a profitability of 11.55% on the amount net turnover, compared to 8.94% in 2022. This improvement has allowed EBITDA to be maintained despite the 22.28% decrease in turnover due to external factors derived from an unstable global environment and inflationary. This improvement in efficiency is based on the selection of projects and the best contracting conditions for them, possible thanks to a pipeline of offers of 300 million by the end of 2023. Fulfilling one of the objectives of RSS’s exit to the BME Growth, the company has boosted its portfolio of offers in the final stretch of the year, which has resulted in record hiring in the first quarter of 2024. Thus, taking into account the pre-awards of the Murcia-Almería AVE systems ( €46M for RSS in a joint venture with CAFS and FCC Industrial), the Estación 4.0 toll systems in 12 Madrid Metro stations (€4.1M) and other relevant projects such as the maintenance of the Central Railway in Uruguay (€14M), the project portfolio rises to €150.2M. Part of the capital increase of €7.9 million that led to the start of trading on BME Growth has already been used by RSS in the acquisition, in 2023, of the technology company of Dynamia software, based in Seville. Dynamia has clients at the regional level, such as the Ports of Andalusia, and contributes to RSS projects such as the ticketing of the Quito Metro L1 (Ecuador), or the back-office system for free-flow contactless tolling in Ruta 5 (Chile) for Movyon. Arturo Revenga, CEO of Revenga Smart Solutions, highlights that “it is exciting and a great satisfaction to see how the exit to BME Growth and the execution of our business plan to 2026 are taking shape and producing results in terms of profitability and hiring. We want our investors to share these advances, the result of our consolidation as a benchmark in the smart mobility sector and our contribution to a high-growth sector both in Spain and around the world.
Contact Contact name: Álvaro de Mingo Diaz Contact description: ADM Media Relations Contact phone: 659093183
