In 2022, we could resume 'normal' activity, having overcome the limitations brought about by the COVID-19 pandemic, which had been extensively detailed in last year's report.

This activity was characterised by a revival of several strategic investments from our clients, particularly in the international sector, which greatly contributed to the performance we report here.

Operating revenues increased by 14.9%, rising to €28.2 million compared to €24.5 million in the previous period. This result was largely driven by a remarkable 98.3% increase in international business, particularly in Angola, where growth from €6.1 million to €12.1 million offset a 12.5% contraction in domestic activities, which reached €16.1 million compared to €18.4 million in the previous period.

This fully justifies our persistent focus on the international market, which accounted for 43% of revenues in 2022 compared to 25% in the previous year.

The impact of this development was even more remarkable in terms of EBITDA, which reached €13.6 million compared to €5.7 million in the previous period, representing a growth of 136.3%.

Net income reached €8.7 million in 2022, more than tripling the positive result of €2.7 million registered the previous year.

The IT Outsourcing segment saw its revenues increase by 138% to €13.27 million compared to the previous period, representing 47% of the Group's revenues; EBITDA in this segment recorded an impressive increase of 141.6% to €6.32 million.

Revenues in the IT Consulting segment contracted by 66.5% to €1.38 million. Consequently, profitability in this segment experienced a significant reduction, with EBITDA standing at €0.67 million, a decrease of 50.3% compared to the previous year.

Despite a 9.2% decline in revenues in the BPO segment, amounting to €13.54 million, we achieved a 270.4% increase in EBITDA, reaching €6.57 million.

In a context of transformation across industries and more selective client investment, the Group continues its strategy of creating differentiated offerings, growing the business with a focus on profitability, and seeking higher value-added projects.

The world continues to face not only a war in Europe but also increasing political tensions in various regions, disruptions in some traditional global supply chains, a redefinition of energy policies, and a significant rise in inflation in European and American markets. This has led to substantial increases in interest rates worldwide, impacting both consumer spending and the financing of businesses and households. Nevertheless, we are beginning to see a stabilisation of key economic indicators and hope that markets will soon rebalance, resulting in a positive impact on global economic activity.

On our side, we will continue to invest across all segments of our business, consistently backing all projects identified as strategic. Regarding our offerings, we will maintain and expand partnerships with companies specialising in applications and solutions, leaders in their segments, complementing our specialised internal resources. We will apply Artificial Intelligence to our processes and offer digital transformation solutions to our clients. Cybersecurity is, and increasingly will be, a fundamental offering from Reditus.

We also aim to continue expanding our offering with relevant solutions for the Financial, Public Administration, and SME markets.

Crucial aspects such as cost control, efficiency improvements, and quality enhancements remain our focus while upholding our principles of civic responsibility through our initiatives and continued support for socially relevant organisations.

We will continue to closely analyse various management indicators, particularly project profitability, financial needs, and business structure, to identify the measures required to better face the challenges that lie ahead.

The results we have achieved are the fruit of our resilience as a company, along with the dedication and sacrifice of all Reditus employees, the unwavering trust of our clients, suppliers, banks, partners, and the invaluable support of the Audit Committee and our Auditors.

To all of them, we extend our sincere thanks.

 

The Chairman of the Board of Directors