Despite the difficult year 2020, the Czech IT company eMan confirmed that software companies are thriving during the crisis. After its successful listing on the Prague Stock Exchange in August 2020, the company confirms that it managed to fulfill its ambitions and goals promised to the investors at the IPO. eMan has achieved the best economic results in its history. For the first time, they exceeded CZK 170 million.
By more than five million Czech crowns – by this much eMan exceeded its original turnover plan for 2020. The resulting CZK175.3 million was the highest number in the company’s history. Several factors play a role. One of the most important is that due to the current coronavirus pandemic, there is a growing interest in the digitization of companies, and this won´t change this year either.
“The coronavirus has shaken up the global economy. However, the IT segment is generally considered to be one of the ‘winners’ during difficult period. Companies have realized the importance of digitization, and thanks to that an interest in our services grew automatically,” comments Jiří Horyna, CEO of eMan.
WE WERE SUCCESSFUL IN ALL INDICATORS
So, what are the exact last year´s economic results? The company recorded a turnover of a total of CZK175.3 million in 2020. Gross operating profit, also known as EBITDA, reached CZK12.5 million. The achieved EBITDA value is almost CZK10 million higher than what was presented to investors when entering the stock exchange. After deducting interest, taxes and depreciation, the company reported a net profit of CZK2.4 million. The company thus exceeded its predictions in every aspect.
“Last year’s results may be surprising, but certainly not unexpected for us. Coronavirus has slowed down almost all business activities for some time. However, it also quickly exposed large issues in the field of digitization in many domestic companies, Therefore, I am not afraid to say that overall, the IT market experienced record numbers last year, “added Jiří Horyna.
Economic results 2018 – 2020 (in millions of CZK)
EMAN WANTS TO ATTACK TURNOVER OF CZK200 MILLION THIS YEAR
eMan will not hide its ambitions for years to come. Its outlook assumes that this year, the turnover could exceed the amount of CZK200 million for the first time in its history. In 2024, it could go up to CZK350 million. The EBITDA and net profit should continue to follow a similar upward trend.
In the long term, the company is one of the important suppliers of software solutions for companies such as Škoda Auto, ČSOB, E.ON, PPL, Bohemia Energy, Honeywell, Lesy ČR or ČEZ. It is also doing well abroad – for example, it provides solutions for ConstellR in Germany and cooperates with Tenaris or Veralink in the US.
ADMISSION TO THE EXCHANGE PROVIDED OVER CZK46 MILLION
Last year, eMan entered the Prague Stock Exchange, where its public offer of shares enjoyed an unprecedented interest. In the START market, the company subscribed 914 thousand shares with a total value of CZK46.6 million, ie CZK51 per share. The great success was underpinned by the number of orders, which exceeded the offer by 111 percent. As of 10th February 2021, the price per share is CZK68.
“The interest in our company shares was not only from large investment funds, but also from small investors and this surprised us. We would like to say thank you to all investors for their trust. At the same time, we helped to open the stock exchange door for other domestic titles, which began to enter the stock exchange very quickly after our IPO,” concluded Jiří Horyna.
The audited financial results of eMan will be available during the first half of 2021.