Infotel Corp releases 2022 financials indicating steady growth with revenues reaching $325 million (+14.0% YoY) and announces membership in the Euronext Tech Leaders Index, highlighting its expertise and success in digital transformation services.
TAMPA, Fla., July 19, 2023 /PRNewswire-PRWeb/ -- Tampa, FL – France-based Infotel announced today to the U.S. market its earnings for the fiscal year ending 2022. Surrounded by a tech marketplace marked by layoffs and shortcomings in earnings targets, the enterprise consultancy and software manufacturer posted positive results.
"Our strong commitment to innovation and focus on delivering cutting-edge solutions has allowed Infotel to once again exceed expectations while laying the groundwork for an even better 2023," said Jeff Castella, Infotel Corp's vice president of software. "We continue to develop strong, mutually beneficial relationships while providing advanced enterprise solutions, and that positions us for continued success in the dynamic landscape of digital transformation."
Surpassing Revenue Milestones
In 2022, Infotel SA (parent company) achieved a significant feat by approaching $325 million in revenue, marking an outstanding growth rate of +14.0% compared to 2021. This is near twice the sector's projected growth of +7.5% for 2022 and signifies Infotel's ability to navigate the competitive enterprise software landscape while catering to the growing demand for digital transformation services.
Driving the Services Business
Infotel's Services business witnessed a substantial boost, experiencing a growth rate of +13.7% and reaching $313 million. This growth reflects solid demand from major accounts seeking Infotel's expertise and industry-leading solutions. The Services business success can be attributed to its unwavering commitment to customer satisfaction and loyalty, fueling its rise as one of the industry's leaders in enterprise IT services and software.
Sector Distribution
Within the Services business, Infotel's reach extended across various sectors. The Banking/Finance sector accounted for 41.5% of the Services business, followed by Industry at 27.0%, Services - Transport at 17.2%, Insurance - Pensions at 11.5%, and Administrations at 3.3%. This diverse sector distribution highlights Infotel's ability to cater to a wide range of industries with a flexible software portfolio.
Recurring Revenue Model
Infotel's 2022 success can be attributed to its robust recurring revenue model, which relies on fixed-price projects. Two-thirds of Infotel's projects are achieved with performance commitments within service centers, ensuring customer satisfaction and loyalty.
Software Business Growth
In addition to their Services business, Infotel's Software division experienced impressive growth of +23.5% in 2022. The division crossed the $10 million threshold, reaching $10.8 million in revenue. A significant contribution to this growth came from the Orlando software suite, which is revolutionizing aircraft technical documentation. The agreement covers a renewable period of five years and will generate a royalty payment for each equipped aircraft.
Solid Financial Performance and Profitability Strengthens Foundation for Future Success
Infotel's sales momentum is reflected in its 2022 financial results. The company achieved a current operating income of $32 million, representing a substantial increase of 35.7%. The current operating margin improved to 9.9%, marking a 0.6-point increase compared to the previous year. Net income also experienced significant growth, reaching $22 million, a remarkable increase of +51.4%, with a net margin of 7.0%.
The next earnings release will be in August 2023.
Infotel Joins the Euronext Tech Leaders Index
Infotel also announces that it has joined the Euronext Tech Leaders segment, which brings together Europe's leading and fastest-growing Tech companies.
Euronext Tech Leaders brings together over a hundred fast-growing Tech companies listed on one of the 7 markets operated by Euronext in Europe, selected based on growth and technological expertise.
This index is designed to enhance the value of the best-performing European Tech companies and to strengthen the diversification of international investors' technology stock portfolios towards Europe.
Infotel comments, "We are proud to be included in the Euronext Tech Leaders segment. This underscores our strong growth momentum and attests to our expertise at the cutting edge of technological innovation, to support our customers in their digital transformation. Inclusion in this European index will enable us to raise our profile with international investors and promote liquidity in our share price."
About Infotel
Infotel Corp, based in Tampa, Florida, is a software vendor and IT consulting firm specializing in data management, application performance, and optimization solutions across both distributed and mainframe platforms. For more than 40 years, Infotel has delivered proven solutions to help clients improve their data management systems. Infotel brands include Infotel Corp, Arvitam/Arcsys, Orlando, OAIO, and Advanced InfoUnload for PostgreSQL.
For more information on Infotel Corp and the Infotel family of products, please visit insoft-infotel.com.
Media Contact
Jeff Castella, Infotel Corp, 800-543-1982, [email protected]
SOURCE Infotel Corp
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