Almawave's revenues grew by +46.4% in the first 9 months (€33.2 million), with a net profit increase of +48.5% (€2.7 million) | Almawave
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9 November 2022

Almawave's revenues grew by +46.4% in the first 9 months (€33.2 million), with a net profit increase of +48.5% (€2.7 million)

The Board of Directors of Almawave S.p.A., an Italian company listed on the Euronext Growth Milan market (Ticker: AIW) and part of the Almaviva Group, a leader in Artificial Intelligence (AI), natural language processing, and Big Data services, approved today the consolidated results for the first nine months of the fiscal year 2022. The period concluded with revenues of €33.2 million, marking a 46.4% increase compared to the same period last year and surpassing the results for the entire fiscal year 2021. This figure benefited from the contribution of two companies recently integrated into the group: The Data Appeal Company and Sistemi Territoriali. On a like-for-like basis, the group’s revenues recorded a robust growth of 33.2% compared to the same period in the previous fiscal year.

Net profit also saw a significant increase, amounting to €2.7 million (+48.5%). Almawave’s CEO, Valeria Sandei, commented, “The results of Almawave as of September 30, 2022, once again demonstrate the strength and resilience of the company, which exhibits significant performance compared to its peers and the reference market. It continues to grow and innovate despite an increasingly complex geopolitical context and the surge in interest rates. We are extremely pleased with the organic growth achieved in the nine months, as well as the quantitative and qualitative development realized by the two companies that have recently joined our team, demonstrating the effective commercial and operational synergy undertaken by various teams in a short time. We are also very pleased with the progress made in Latin American markets and the business perspective opened up in the African continent by the recent deal closed in Tanzania. All these elements allow us to confirm a positive outlook for the Group, remaining fully focused on achieving our growth objectives, both in Italy and abroad. We aim to be a company that grows sustainably, while investing significantly in new technologies, vertical solutions, platforms, and services to continue shaping a distinctive future compared to the competition, with high market potential”.

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