Keyware records a growth in revenues of 35.5% and a net profit increase of 151% for 2022

Highlights:

• The figures of 2022 are strongly influenced by the acquisition of Payment Solutions which took place in January 2022. Its activities can be mainly attributed to the payment terminals segment and, to a minor extent, to the authorizations segment.
• Revenues rose by kEUR 6,282 (35.5%) from kEUR 17,689 in 2021 to kEUR 23,971 in 2022. The increase in revenues is mainly due to the continued transition to the current payment partner as well as to the acquisition of Payment Solutions, which has a strengthening effect primarily on the payment terminals segment. In 2021, revenues were already up 36.5%, though this was then primarily the result of the transition to the current payment partner.
• EBIT reached kEUR 1,225 in 2022, representing an increase of kEUR 1,106 (+929,4%) when compared to kEUR 119 in 2021. The higher gross margin (+ kEUR 3,979), primarily due to improved authorization revenues and subscriptions, as well as the contribution from the new acquisition, was offset by higher other expenses, personnel costs and net allowances on current assets, eventually resulting in the EBIT growth of kEUR 1,106.
• In 2022, EBITDA grew to kEUR 4,915 when compared to kEUR 3,955 in 2021, representing an increase of kEUR 960 (+ 24,3%) for which the same reasons as stated for EBIT apply.
• Profit before taxes rose to kEUR 1,740 in 2022, a jump of kEUR 1,230 (+241,2%) compared to kEUR 510 in 2021. This increase was mainly triggered by the higher EBIT (+ kEUR 1,106), although the financial result (+ kEUR 124) also contributed to it. In this respect, the increase in financial revenues comes from the additional lease receivables of the acquired company, that generate financial revenues.
• Keyware closed its financial year 2022 with a net profit of kEUR 1,640 compared to kEUR 653 in 2021. Deferred taxes in particular had a significant impact. The acquisition of the subsidiary resulted in additional deferred tax charges on the new lease revenues. Eventually the deferred taxes still indicate a revenue, but their level dropped in 2022 to kEUR 168 in comparison to 2021, when it was still kEUR 678.