DHH, double-digit growth in earnings and quarterly revenue

BC Speakers revenues 40 in the first quarter

(Finance) – In the first quarter of the year, the group DHH has registered revenues amounts to 8.4 million euros, up 42% compared to the corresponding figure for 2022. Organic growth – explains a note – was 13%, driven above all by the increase in the IaaS (“Infrastructure-as -a-Service”), the group’s core revenue segment, which grew organically by 23% over the period. Recurring revenues amounted to approximately 95% of total revenues.

The Balkan countries were the best performers in terms of organic growth (+15% in Slovenia, +13% in Croatia, +16% in Serbia, +18% in Bulgaria).

Consolidated adjusted EBITDA amounted to €2.7 million compared to €1.9 million in 2022 (+39%). Organic growth in Adjusted EBITDA was 14%, with the rest resulting from M&A activities. It is worth mentioning that in the first quarter of 2022 the energy crisis was not yet evident, which makes organic growth all the more significant.

L’Consolidated EBIT adjusted amounted to 1.3 million euro compared to 1 million euro (+25%).

There net financial position remained essentially stable (6.3 million euro compared to 6 million euro in the previous period), despite the cash-out for the acquisition of Misterdomain.

In terms of business prospects, the group announces that “it is working to increase the organic performance of the companies in the portfolio on all the main financial indicators (reference revenues, EBITDA, net profit), with particular attention to cash generation and cash conversion (ref. the conversion of EBITDA to operating cash flow), and in the meantime it is actively looking for new ones M&A opportunities on the market“.