4iG H1 revenue rose 59% y.o.y.
Image: Facebook
The first-half revenue of listed IT company 4iG rose 59% year-on-year to HUF 32.1 billion, climbing on organic growth as well as acquisitions, according to an investor presentation released on the website of the Budapest Stock Exchange.
The increase in operating costs outpaced revenue growth, rising 62% to HUF 30.6 bln. EBITDA climbed 30% to HUF 1.8 bln.
After-tax profit fell 36% to just under HUF 500 million on higher depreciation and impairment. 4iG affirmed earlier guidance for revenue growth "above 25%" in 2021 and "above 10%" in the years following.
4iG reiterated that it targets an 8-10% EBITDA margin in the coming 2-3 years. 4iG's backlog of orders stood close to HUF 42.7 bln at the end of August. 4iG is now the runner-up integrator on Hungary's IT market but plans to take the top spot in two years.
It also aims to further strengthen its presence in its three strategic target segments, IT, telecommunications and infrastructure, and space, in 2021.
Hungary Gasoline Prices 3% Over Regional Avg
Hungary to Address Future of Cohesion Policy During EU Presi...
120,000 Guest Workers Employed in Hungary
Budapest Airport Wins 'Best Airport in Eastern Europe' for 1...
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.
